Latest Economic policy News
The Bank of England is widely expected to hold interest rates as inflation stays above target
LONDON (AP) — The Bank of England is widely expected to keep interest rates unchanged on Thursday, a day after official figures showed inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills. ...
Argentina's President Milei presents 2025 budget, vowing austerity and setting up a showdown
BUENOS AIRES, Argentina (AP) — Libertarian President Javier Milei of Argentina presented the 2025 budget to Congress late Sunday, outlining policy priorities that reflected his key pledge to kill the country's chronic fiscal deficit and signaled a new phase of confrontation with lawmakers. ...
Hungary prepared to sue EU executive for border protection costs, minister says
BUDAPEST, Hungary (AP) — Hungary is exploring legal avenues for forcing the European Union’s executive commission to reimburse it for funds it has spent on border protection, a minister said on Thursday, potentially deepening a conflict with the EU over Hungary's restrictive immigration and...
Sudan accuses UAE of arming rivals and prolonging war, UAE accuses Sudan of refusing to talk peace
UNITED NATIONS (AP) — The Sudanese government accused the United Arab Emirates on Wednesday of providing weapons to its rival paramilitary force and prolonging the 17-month war. The UAE called the allegations “utterly false” and “baseless” and accused the government of refusing to...
Biden says rural electrification and internet improvements underscore 'American comeback'
WESTBY, Wisconsin (AP) — President Joe Biden traveled to rural southwest Wisconsin on Thursday to champion new investments in electrification and expanded high-speed internet, proclaiming that “all these investments mean family farms can stay in the family.” In the town of...
China accuses Canada of protectionism over 100% tariffs on electric vehicles
BEIJING (AP) — China on Tuesday accused Canada of protectionism after Prime Minister Justin Trudeau's government imposed a 100% tariff on imports of Chinese-made electric vehicles, matching U.S. duties on Chinese EVs. The Chinese Commerce Ministry said the tariffs would disrupt the...
Argentine Senate passes pension spending increase in a blow to President Milei's radical austerity
BUENOS AIRES, Argentina (AP) — Argentina's Senate defied President Javier Milei on Thursday to push through an increase to pension spending that would cost at least 0.4% of the country's gross domestic product, dealing a blow to his tough austerity program. The bruising defeat for...
China opens investigation into EU dairy exports as trade tensions flare
BEIJING (AP) — European milk and cheese producers have become the latest target in a simmering trade war with China. The Chinese Commerce Ministry said Wednesday that it would launch an investigation into subsidies given by the European Union and EU member countries for dairy...
China's exports grow 7% in July, under forecasts, while imports gain momentum
BANGKOK (AP) — China’s exports rose 7% in July from a year earlier, below economists’ forecasts for growth closer to 10% as trade tensions and weakening growth in the United States and other major markets weighed on demand. Chinese leaders have ramped up investment in...
Sri Lanka will hold presidential election on Sept. 21, its first since declaring bankruptcy in 2022
COLOMBO, Sri Lanka (AP) — Sri Lanka will hold a presidential election on Sept. 21 that will likely be a test of confidence in President Ranil Wickremesinghe’s efforts to resolve the country’s worst economic crisis. The date was announced by the independent elections commission...
