World Economy

Asian shares fell to seven-month lows as positive trade data from China failed to ease concerns over global economic growth. World Bank and International Monetary Fund meetings on Saturday called…

The two biggest banks in Russia, Sberbank and VTB, are in talks to create an alternative to the SWIFT global system for interbank financial communications, VTB head Andrey Kostin said.

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The International Monetary Fund has held its first consultation with an external advisory group of Islamic finance industry bodies, as regulators across the globe seek to address structural…

French economist Jean Tirole has won the Nobel Prize in economics for his work on market power and regulation, BBC reported.

The prize, officially called the Sveriges Riksbank Prize in…

VTB Bank, Russia’s second largest banking institution by assets, considers raising a subordinated loan on Asian markets amid Western sectoral sanctions, VTB CEO Andrey Kostin said on Monday. “We…

Eurozone banks have raised 35% more capital ahead of the European Central Bank’s (ECB) latest stress test than they had set aside before the 2011 review, according to a report published…

Goldman Sachs Group Inc. cut its forecast for Japanese growth as consumers remain shy about spending six months after a sales tax increase. The economy may expand 0.1% in the fiscal year ending…

The Swiss National Bank will defend its cap on the currency with all means and is ready to introduce negative interest rates if necessary, President Thomas Jordan said. “We will…

The Mena region is experiencing an unprecedented spate of rail investment. From Africa’s first high-speed rail network in Morocco to Oman’s first ever rail scheme, billions of dollars are being…

Clotilde Narzisi and Luca Soliman have run the Caffe Orefici, 200 feet from Milan’s iconic Duomo Cathedral, for 10 years. Forced to sell their business because of high taxes, they say their only…

The International Monetary Fund was launched in 1944 with the world’s new superpower, the United States, in position as the key force and shareholder in the global crisis bank. Today, China is on…

As the Middle East region focuses on accelerating infrastructure investment to boost its power sector, GE (General Electric) is putting the spotlight on enhancing power sector efficiencies through…

The head of Russia’s Central Bank, Elvira Nabiullina, says the Russian currency will probably strengthen after the trend of falling oil prices ends, RT reported. The currency rate is affected by…

Bahrain experienced an overall GDP growth of 5.6% in Q2 2014, when compared to the same period a year earlier, Business Intelligence Mideast quoted the Economic Development Board Monday. The…

Egypt has paid back $500 million to Qatar and will soon return the remainder of the money the Gulf state deposited into the Egyptian central bank after the 2011 revolution, the bank's…

 Arab Banking is ready to cooperate with Russia if it creates favorable conditions in bank regulation, participants in a regional seminar on “Islamic finances” told TASS on Friday.

European and US stock markets have seen sharp falls as fears have deepened over prospects for the global economy.

London’s FTSE 100 share index fell 1.4% to 6,339.97, a 12-month…

In the town of Bil’in, nestled in the foothills of the occupied West Bank, Hania Hamada looks achingly at Israel’s separation barrier that cuts through her olive grove.

“I only have 74…

Negotiations for joining the Trans-Pacific Partnership free trade zone broke down in late September, possibly irrevocably, after the Japanese negotiator, Minister of Economy Akira Amari, walked…

After months of delay, Armenia formally joined the Eurasian Economic Union (EEU) of Russia, Belarus and Kazakhstan on Friday, drawing praise from Russian President Vladimir Putin.

Since China surpassed Japan as the world’s second-largest economy in 2010, the world has been counting down to the day when it will outpace the United States as the world’s leading economic power…

The Bank of Russia and the National Bank of Ukraine agreed to press ahead with consultations on bilateral cooperation, a spokesperson for the Russian central bank told RIA Novosti.

China is ready to export agricultural products and oil and gas equipment to Russia, China’s Vice Premier Wang Yang stated Saturday, RIA Novosti reported. “China is willing to export competitive…

Germany’s banks are well capitalized ahead of the European Central Bank’s stress test, the co-chief executive of Deutsche Bank and head of the German association of commercial banks (BdB) said on…

General Electric Co’s finance arm is in talks to buy Milestone Aviation Group Ltd, as the US conglomerate looks to expand its aircraft-leasing operation into helicopters, Reuters quoted…