Leadership dispute between rival governments leads to suspension of oil production. Libya’s central bank, which controls billions of dollars in oil revenue, is at the heart of the country’s latest political dispute. The bank’s governor has fled the country, fearing for his life. Two rival governments have fought for power, influence and control of Libya’s … Read more
The US has dominated the global economy for decades. But globalisation is facing a backlash. Economic integration and globalisation, the free flow of trade, with the United States at the helm: that is the economic order the world has known for decades. Today, the disintegration of the rules-based old world order is evident. Countries are … Read more
US debt is on track to reach more than $50 trillion dollars over the next decade. The US is more than $34 trillion dollars in debt. That’s almost equal to its entire gross domestic product (GDP). The figure is bigger than any other nation’s debt, but does that matter when Washington issues the world’s leading … Read more
Main political parties have laid out their economic plans in election manifestos. The economy is turning a corner. That is the message delivered by British Prime Minister Rishi Sunak since he called the general elections for July 4. But the latest data shows the worst might not be over for the United Kingdom yet. Economic … Read more
The makeup of the EU’s next parliament could affect the future of the bloc’s climate policies. European Commission President Ursula von der Leyen unveiled the bloc’s climate plan in 2019, calling it “Europe’s man on the moon moment”. That landing of the so-called European Green Deal is now in question. The package costs more than … Read more
A general strike demanding higher wages brings Nigeria to a standstill. Nigeria has Africa’s largest population and it’s one of the world’s top oil producers. Yet the nation of more than 200 million people has struggled with corruption, economic mismanagement and a weak currency. A general strike this week is drawing attention to these challenges. … Read more
US slaps tariffs on Chinese goods, and Beijing launches an anti-dumping inquiry in response. Chinese imports have helped push down the cost of products like video games, T-shirts and home appliances in the United States. But many American factories say these imports have driven them out of business and cost more than a million people … Read more
When Moscow resident Zoya, 62, was planning a trip to Italy to visit her daughter last August, she saw the perfect opportunity to buy the Apple Watch she had long dreamed of owning. Officially, Apple does not sell its products in Russia. The California-based tech giant was one of the first companies to announce it … Read more
Britain is cutting taxes for workers again ahead of elections. Britain slipped into recession late last year, and many people and businesses are struggling with a high cost of living. The Conservative Party is battling for its electoral future against a bleak economic backdrop.Britain’s spring budget of 2024 was seen as a chance for Chancellor … Read more
National People’s Congress discusses future of nation amid increasingly turbulent geopolitics. China’s plans for the coming year have been set out at its National People’s Congress. The country is aiming for the same modest economic growth as it did last year, but its economy is facing several challenges, and geopolitical tensions are rising. That makes … Read more