Musk: China, India Drive 43% Global Growth, Power Shifts
Elon Musk highlights China and India as key drivers of global economic growth, contributing 43% to the world's expansion. He emphasizes the shifting balance of power towards these nations.
Category : Global Economy
UAE Cuts Fuel Prices for February 2026
The UAE has announced reduced fuel prices for February 2026, with all petrol variants and diesel seeing slight decreases effective from February 1, offering modest relief to motorists.
China's Factory Activity Slows in January, Misses Forecasts
China's manufacturing PMI fell to 49.3 in January, below expansion threshold, reflecting weak domestic demand and seasonal factors as economy faces consumer slump.
EM Assets Fall on Fed Pick, Dollar Surge, AI Worries
Emerging market assets decline for second session as dollar strengthens post-Trump's Fed nomination and AI investment sustainability concerns hit Asian tech stocks.
Canada's Carney, Macklem Praise Warsh's Fed Nomination
Canadian Prime Minister Mark Carney and Bank of Canada Governor Tiff Macklem have congratulated Kevin Warsh on his nomination to lead the US Federal Reserve, highlighting the importance of central bank independence.
Oil Falls as Trump Signals Iran Nuclear Dialogue
US West Texas Intermediate crude dropped $1.25 to $64.17 a barrel after recent gains, as former President Donald Trump's signals of potential dialogue with Iran over its nuclear program eased geopolitical tensions.
Kevin Warsh Leads Race for Federal Reserve Chair Position
Former Federal Reserve Governor Kevin Warsh has become the frontrunner to replace Jerome Powell as Fed Chair, with President Trump expected to announce his choice soon. This development has sparked intense market speculation and debates about central bank
Swiss Cities Lead 2026 Cost of Living Rankings
Numbeo's 2026 Cost of Living Index reveals Zurich as the world's most expensive city, with Swiss cities taking six top spots. Indian cities rank among the most affordable globally.
Saudi Arabia Launches National Privatization Strategy
Saudi Arabia has begun implementing its National Privatization Strategy, approved by the Cabinet, to enhance infrastructure, public services, and private sector involvement across 18 priority sectors.
Venezuela Passes Sweeping Oil Law Reform for Foreign Firms
Venezuela has passed a comprehensive oil law reform aimed at opening its doors to foreign companies, seeking to revitalize its struggling energy sector through international investment and partnerships.
Brent Oil Hits 6-Month High on Iran Attack Fears
Brent crude futures surged to a near six-month high on Thursday, driven by escalating fears of a potential US military strike on Iran. The geopolitical tensions sent oil prices soaring, with Brent up 3.8% and WTI gaining 4%.
Venezuela Opens Oil Sector to Private Companies After 20 Years
Venezuela's National Assembly has passed a landmark law allowing private companies to control oil production and sales, reversing two decades of state control. The reform aims to attract foreign investment amid economic crisis.
US Treasury Secretary Disappointed with India-EU Trade Deal
US Treasury Secretary Janet Yellen voices disappointment regarding the recent India-EU trade agreement, highlighting potential implications for global economic relations and US strategic interests.
India's Growth Praised by World Bank Chief Ajay Banga
World Bank President Ajay Banga lauds India's exceptional economic growth, highlighting its potential as a global model for development and resilience in challenging times.
US Trade Deficit Doubles in November to $56.8 Billion
The US trade deficit nearly doubled in November 2024, reaching $56.8 billion as imports rebounded by 5% and exports fell by 3.6%, highlighting significant monthly volatility amid tariff uncertainties.
Economists Worry About High Minimum Wage Impacts
Economists worldwide are reevaluating minimum wage policies as governments push pay floors to unprecedented levels. New research reveals potential negative side effects including reduced employment, price inflation, and economic distortions.
Dollar's Sharp January Decline Sparks Economist Debate
The US dollar faces its steepest January slide since 2018, with traders betting on further weakness. However, some economists point to resilient US growth and potential Fed independence as factors that could trigger a rebound.
Oil Prices Jump 1.5% on US-Iran Fears, Fed Decision
Crude oil prices climbed nearly 1.5% on Thursday, marking a three-day rally as geopolitical tensions with Iran and unchanged US interest rates fuel market volatility. Brent crude hit $69.39, while WTI reached $64.27 per barrel.
US Treasury Secretary: Europe Funding War Against Itself
US Treasury Secretary Scott Bessent has reiterated his claim that Europe is effectively funding the war against itself through financial mechanisms, sparking debate on global economic policies and international relations.
Dollar Falters Amid Trump Remarks, Fed Policy Uncertainty
The US dollar remains under pressure after President Trump's comments on its decline, with traders eyeing the Federal Reserve meeting for interest rate clues amid ongoing policy uncertainty.
US Consumer Paradox: Gloomy Mood, Strong Spending
Despite record-low consumer sentiment in America, retail spending continues to grow, creating a puzzling economic disconnect. The wealthy drive luxury sales while budget-conscious shoppers seek value.
Venezuela's Economic Hope Rises, Democracy Distant
Following US military action that removed Nicolás Maduro, Venezuela sees economic improvements with US oil sales and dollar injections, but democratic transition remains uncertain under Delcy Rodríguez's regime.
Asian Markets Mixed as Dollar Weakens Before Fed Decision
Asian shares showed mixed performance on Wednesday as investors awaited the Federal Reserve's interest rate decision. South Korean stocks hit a record high, while Japan's Nikkei declined. The US dollar weakened, and safe-haven assets like gold surged.
World Bank: US Economy's Growth Potential May Be Higher
World Bank deputy chief economist Ayhan Kose indicates the US economy's potential growth rate might exceed current estimates, with implications for global economic resilience.
Europe's US Dependence Remains High Amid Trump Era
European nations united against Trump's Greenland ambitions but remain heavily reliant on America for security, trade, technology and energy, complicating decoupling efforts.
Carney Denies Softening Davos Remarks After Trump Call
Canadian Prime Minister Mark Carney has firmly rejected allegations that he toned down his critical comments about global economic policies at Davos following a conversation with former US President Donald Trump.
UK Balances China Trade, Aims to Avoid Trump's Fury
Britain is strategically pursuing trade with China while carefully avoiding actions that could provoke anger from former US President Donald Trump, amid ongoing global economic tensions.
U.S. Economy's Growth Potential Higher Than Estimated: World Bank
World Bank deputy chief economist Ayhan Kose indicates the U.S. economy may be experiencing a sustained increase in its potential growth rate, with implications for global economic resilience and policy decisions.
Record Debt in Rich Nations Threatens Global Growth
A new report reveals that the world's wealthiest nations have reached unprecedented debt levels, posing a significant risk to global economic stability and future growth prospects.
AI Causing More UK Job Losses Than Global Peers: Report
Britain is experiencing net employment reductions at double the global average due to artificial intelligence implementation, with 8% job cuts in 2025 according to Morgan Stanley findings.
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