World Economy

The Middle East region’s information and communication technology (ICT) market is set to jump from a projected $15 billion this year to $20 billion in 2020, outpacing the global average, according…

High debt, slow growth euro crisis is to dominate Europe for at least a decade. The failure of France as an economic power is the blueprint for what is to become of the EU.

Crisis…

Russian President Vladimir Putin pledged that the country would continue to develop as an open market, but fired a broadside at the US by halting the use of the dollar for trade.

Ukraine’s economy is likely to suffer more than previously predicted because of the conflict in the east of the country, the World Bank has said. It now says that GDP is likely to contract by 8%…

JPMorgan said Thursday that cybercriminals gathered information on more than 80 million account holders as part of a massive bank hack this summer, CNN reported. The revelation follows news back…

The Federation Council, the upper house of Russia’s parliament, unanimously ratified the Treaty on the Eurasian Economic Union (EEU) on Wednesday. Kazakhstan is expected to ratify the Treaty…

European shares dipped on Wednesday following mixed manufacturing data and as sales warnings from J Sainsbury and Nexans fuelled worries over the outlook for European corporate results.

Euro-area factories cut prices in September by the most in more than a year and German manufacturing shrank, underlining the mounting challenge facing Mario Draghi.

Analysts say that Hong Kong’s ongoing pro-democracy protests are unlikely to affect the city’s economy. They admit, however, that a protracted conflict may force the companies to move their…

Gold fell to a nine-month low as the dollar surged and commodities led by crude oil tumbled on expectations of further gains in the US currency.

Spot gold prices touched their lowest since…

A federal judge said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest US bank misled them about the safety of $10 billion of mortgage-backed…

UK economic growth has been revised up to 0.9% for the second quarter of the year by the Office for National Statistics (ONS), compared with a previous estimate of 0.8%. UK GDP was 3.2% higher in…

The US and Brazil have reportedly come to an agreement that will put an end to a decade-long dispute over subsidies provided to cotton growers. The South American country had argued that payments…

Ukraine’s exports to the European Union (EU) countries increased and to the Russia-led Customs Union (CU) states went down in the first eight months of 2014, said Ukrainian Deputy Foreign Minister…

The London Metal Exchange (LME) announced it will combine current transaction fees into a single trading fee beginning on January 1, 2015, with an average increase of 34%, LiveTrading reported.…

Following the release of the 2015 French budget Finance Minister Michel Sapin assured that the pace of budget consolidation was being adapted to the pace of the economic recovery in the Eurozone,…

Factory activity stumbled across much of Asia in September, with slowdowns in India, Japan and Taiwan and an outright decline in South Korea delivering a setback to hopes for a pick in…

Two to three years would be enough time for Russia to switch to international settlements to the ruble, Andrey Kostin, head of Russia’s second-biggest bank VTB, said, according to a RT report.

Prime Minister Narendra Modi and President Barack Obama sought to reset ties between India and the United States as both leaders had an extended discussion in the White House on Tuesday, resolving…

Turkey’s finance minister urged Fitch to reassess Turkey’s credit rating because the country is “growing at a sustainable pace” despite external challenges.

Markets are looking ahead to…

South Africa’s trade balance‚ which includes trade with Botswana‚ Lesotho‚ Namibia and Swaziland‚ recorded a rand 16.3b ($1.4b) deficit in August after a revised R6.824b (R6.884b) deficit in July…

Presidents Vladimir Putin and Nursultan Nazarbayev launched a joint Russia-Kazakhstan project Eurasia for ultra-deep well drilling for hydrocarbon production, ITAR-TASS said. The project in…

A new trough in euro zone inflation pushed the euro to a two-year low on Tuesday, leaving the dollar on course for its biggest quarterly gain in six years and world stocks facing their…

Airbus Group has signed an agreement with US firm Aerion Corporation to help develop the world’s first supersonic business jet.

Aerion, who has been working on the 12-seater Aerion AS2…

Kuwait’s government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund…