International/Economy


 2 min read

Economy
Ukrainian Prime Minister Denys Shmyhal delivers a speech during the Economic Forum official opening at the Ukraine Recovery Conference in Lugano, Switzerland, on July 5, 2022

Creditors agree to 2-year pause on Ukraine $20 billion debt

The World Bank estimated that Ukraine's economy could contract by 45% this year due to the Russian invasion

 3 min read

Economy
شعار منظمة البلدان المصدرة للبترول (أوبك) خارج مقرها الرئيسي في فيينا ، النمسا ، في 3 مارس 2022

OPEC+ agrees to small increase in oil production despite Biden request

'The smallest increase in OPEC+ history will do little to help the ongoing global energy crisis'

 2 min read

Economy
This file photo taken on November 8, 2011 shows a view of the Nord Stream gas pipeline in Lubmin, northeastern Germany.

EU plan to curb gas use faces opposition from countries

Denmark, France, Ireland, Italy, Malta, the Netherlands, Poland and Portugal were among the opposing states

 3 min read

Economy
A board indicating exchange currencies between the US dollar and euros in London, England, on April 22, 2022.

Euro reaches parity with US dollar, a first in 20 years

Israel's shekel is holding a steady level against the strengthening US dollar

 3 min read

Economy
A Palestinian girl carries hummus plates in Gaza City, the Gaza Strip, on April 14, 2022.

Chickpea shortage from Ukraine war, weather threatens hummus supply

Ukraine could not seed its total chickpea crop due to the war, removing 50,000 tons that usually reach Europe

 3 min read

Economy
A man breaks rocks into gravel for construction sites in the Kenscoff neighborhood of Port-au-Prince, Haiti, on June 24, 2022.

Cost-of-living crisis driving 71 million into extreme poverty

'The threat of increased social unrest grows by the day'

 2 min read

Economy
An oil tanker unloads imported crude oil at Qingdao port in China's eastern Shandong province on May 9, 2022.

China extends imports of Russian crude oil, cuts supply from Middle East

June imports of Russian oil are expected to total 2 million barrels per day

 2 min read

Economy
A technician walks in the Rumaylah oil field near Iraq's southern port city of Basra, on March 19, 2022.

OPEC+ stays the course on oil output boost

Major oil producers agree to add another 648,000 barrels per day in August, the same as for July

 2 min read

Economy
South Africa's President Cyril Ramaphosa (L), India's Prime Minister Narendra Modi, China's President Xi Jinping, Russia's President Vladimir Putin, Brazil's President Jair Bolsonaro during the 11th BRICS Summit in Brasilia, Brazil, on November 14, 2019.

Iran applies to join Russia, China as BRICS member

Argentina is expected to follow

 3 min read

Economy
One hundred rubles banknote is pictured in front of a one US dollar banknote, Gelsenkirchen, Germany, Monday, April 25, 2022.

Russia nears first default in decades as payment deadline expires

Moscow accuses the West of staging 'artificial deault'

 2 min read

Economy
A pedestrian walks past an electronic share price board showing the closing numbers on the Tokyo Stock Exchange (L) and a foreign exchange board showing the yen's rate against the US dollar (R) in Tokyo on June 13, 2022.

Major markets dive on heightened recession fears

Global equities, oil prices and bitcoin plunged Monday

 3 min read

Economy
World Trade Organization Director-General Ngozi Okonjo-Iweala leaves a press conference in Geneva, Switzerland, on June 12, 2022.

WTO chief 'cautiously optimistic' ahead of high-stakes meet

'The road will be bumpy and rocky, there may be a few landmines on the way'

 2 min read

Economy
Vue de Tel Aviv la nuit, le 29 août 2016.

Tel Aviv 6th most expensive city in the world

Six of the ten most expensive cities in the world (including Tel Aviv) are located in Asia

 3 min read

Economy
An employee at the Saudi Aramco oil facility walks at the plant in Saudi Arabia's Red Sea city of Jeddah, on November 24, 2020.

Saudi Arabia oil price surges amid tight supply

OPEC+ member nations are struggling to meet their oil supply targets

 3 min read

Economy
A farmer driving a tractor in the field at Bogatoye village in Izmail, Ukraine, on March 24, 2022.

Russia holds the world hostage raising fears of food crisis - analyst

Moscow blocks Ukraine’s sea ports ‘to get relief from sanctions’

 2 min read

Economy
One hundred rubles banknote is pictured in front of a one US dollar banknote, Gelsenkirchen, Germany, Monday, April 25, 2022.

Russian ruble becomes world’s best performing currency, despite sanctions

Ruble firms 30% against dollar

 2 min read

Economy
Ukraine's President Volodymyr Zelensky during his address by video conference as part of the World Economic Forum (WEF) annual meeting in Davos on May 23, 2022

Zelensky calls for more Russia sanctions in Davos

Ukrainian president urged for complete withdrawal of foreign businesses from Russia

 3 min read

Economy
Delivery riders queue up outside a McDonald's restaurant in east London, UK, on May 13, 2020.

McDonald's to exit Russia, sell business in country

'Business in Russia is no longer tenable, nor is it consistent with McDonald's values'

 3 min read

Economy
A man watches a screen showing Russia's President Vladimir Putin on the facade of the Bombay Stock Exchange building in Mumbai, India, on February 24, 2022.

Morgan Stanley warns 2022 global economic growth to take major blow

The brokerage forecasts 2022 global growth to be at 2.9 percent, compared to 6.2 percent the year prior

 3 min read

Economy
An American Airlines aircraft flying over Gloster City, New Jersey approaches Philadelphia International Airport, Pennsylvania, October 22, 2021.

Airlines expect travel will rebound to pre-Covid levels in 2023

'We are seeing a strong recovery, and I think that recovery will gather momentum'

 3 min read

Economy
Workers wearing personal protective equipment (PPE) are seen next to food delivered by the local government for residents in a compound during a Covid lockdown in the Jing'an district in Shanghai, China, on April 10, 2022.

China’s Covid lockdowns bite local, international economies

'This has affected not only the supply chain within China, but… [also] around the world'

 3 min read

Economy
Poor families receive flour rations and other basic food supplies from charities in the province of Lahj, in southern Yemen, on March 29, 2022, amid doubling food prices.

IMF: Ukraine war to hit MENA's poor nations, boost oil-producers

Low-income countries face increased pressure due to lower levels of food security

 3 min read

Economy
Britain's Prime Minister Boris Johnson (L) and his Indian counterpart Narendra Modi at Hyderabad House in New Delhi, India, on April 22, 2022.

UK, India seal defense and economic pact

'We're telling our negotiators to get it done by Diwali in October. This could double our trade' by 2023

 3 min read

Economy
A sign for the International Monetary Fund’s annual Spring Meetings is displayed outside the World Bank headquarters in Washington, DC, the United States, on April 13, 2022.

IMF: Fragmentation poses 'serious risk' to global prosperity

Globalization 'lifted hundreds of millions out of poverty... fragmentation would undo many of these gains'