Latest Economic outlook News

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Oct. 27, 2020. Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. (AP Photo/Vincent Yu)

World shares slip after Wall St's worst day in a month

Oct. 27, 2020 4:47 AM EDT

Shares skidded in Europe and Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Stock benchmarks fell in Paris, London, Hong Kong, Sydney and Seoul. Tokyo was flat. Shanghai recovered from early losses to edge higher. Overnight,...

A woman wearing a face mask to help curb the spread of the coronavirus browses her smartphone as a masked woman walks by the Huawei retail shop promoting it 5G network in Beijing on Oct. 11, 2020. Chinese leaders are meeting to formulate an economic blueprint for the next five years that is expected to emphasize development of semiconductors and other technology amid a feud with Washington that is cutting off access to U.S. components for China's fledgling tech industries. (AP Photo/Andy Wong)

Chinese leaders focus on tech as they make 5-year plan

Oct. 26, 2020 3:04 AM EDT

BEIJING (AP) — Chinese leaders met Monday to formulate an economic blueprint for the next five years that is expected to emphasize development of semiconductors and other technology at a time when Washington is cutting off access to U.S. technology. President Xi Jinping’s government is working to...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 23, 2020. Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. (AP Photo/Ahn Young-joon)

Asian shares, US futures gain after last Trump-Biden debate

Oct. 23, 2020 1:50 AM EDT

Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. Stocks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai. Sydney's benchmark ended flat. In their debate late...

Lebanese Prime Minister-Designate Saad Hariri speaks to journalists at the Presidential Palace in Baabda, east of Beirut, Lebanon, Thursday, Oct, 22, 2020. Lebanon's president Michel Aoun asked former premier Saad Hariri to form the country's next government Thursday after he secured enough votes from lawmakers - bringing back an old name to lead the country out of its dire political and economic crises. (AP Photo/Hussein Malla)

For 4th time, Hariri is back as PM in crisis-hit Lebanon

Oct. 22, 2020 12:08 PM EDT

BEIRUT (AP) — Lebanon’s president tasked former Prime Minister Saad Hariri with forming a new government Thursday, bringing back the veteran politician a year after he was toppled amid nationwide protests against widespread corruption and a flunking economy. President Michel Aoun designated Hariri...

Pedestrians pass the New York Stock Exchange Wednesday, Oct. 14, 2020, in New York. Stocks are mostly lower in Asia after pandemic concerns snapped a four-day winning streak on Wall Street.  US stocks are drifting higher Wednesday, Oct. 21,  as negotiations continue in Washington on more aid for the economy, though prospects remain cloudy that anything can happen soon.(AP Photo/Frank Franklin II)

Asian stocks follow Wall Street lower on lack of US aid plan

Oct. 21, 2020 11:46 PM EDT

BEIJING (AP) — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. On Wall...

People stand near a bank's electronic board showing the Hong Kong share index Tuesday, Oct. 20, 2020. Asian shares fell moderately Tuesday, echoing Wall Street's decline as hopes faded Washington will come through with badly needed aid for the economy before the U.S. presidential election.   (AP Photo/Vincent Yu)

Asian shares track Wall Street fall as virus aid hopes fade

Oct. 19, 2020 11:55 PM EDT

TOKYO (AP) — Asian shares fell moderately Tuesday, tracking Wall Street's overnight decline as hopes faded Washington will come through with badly needed aid for the U.S. economy before the U.S. presidential election. Investors have been focusing on U.S. economic stimulus amid global uncertainty about the...

World Bank: 5.2% decrease in MENA economies expected in 2020

Oct. 19, 2020 12:23 PM EDT

CAIRO (AP) — The coronavirus pandemic and a collapse in oil prices have affected all aspects of the Middle East and North Africa, with the region’s economies projected to contract by 5.2% in 2020, the World Bank said Monday. The current projection is 4.1% below the forecast in April, and 7.8% worse...

FILE - In this Nov.13, 2018 file photo, Jihad Azour, the IMF's director of the Middle East and Central Asia Department reacts during his press conference in Dubai, United Arab Emirates. The coronavirus pandemic is hitting countries in the Middle East in wildly different ways, but nearly all are in the throes of an economic recession this year and all but two, Lebanon and Oman are expected to see some level of economic growth next year, according to the latest report published by the International Monetary Fund on Monday, Oct. 19, 2020. (AP Photo/Kamran Jebreili, File)

IMF: Nearly all Mideast economies hit by pandemic recession

Oct. 19, 2020 8:04 AM EDT

DUBAI, United Arab Emirates (AP) — The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Oman — are anticipated to see some level of economic growth next year, according to a...

Women eating snack walk by a Chanel cosmetic shop at the capital city's popular shopping mall in Beijing, Monday, Oct. 19, 2020. China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.(AP Photo/Andy Wong)

China's economy accelerates as virus recovery gains strength

Oct. 19, 2020 5:51 AM EDT

BEIJING (AP) — China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. Growth in the world’s second-largest economy accelerated to 4.9% over a...

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 16, 2020. Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. (AP Photo/Eugene Hoshiko)

Asian shares mixed amid 2nd wave coronavirus, election fears

Oct. 15, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. Investors are also looking ahead to the release of data on the Chinese economy next week. Shares rose in...