Latest Economic policy News
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...
FACT FOCUS: A look at Biden's economic policies related to rising prices
WASHINGTON (AP) — President Joe Biden's economic policies have been slammed by several speakers at the Republican National Convention. But some of the criticism was off base. Here's a look at the facts. ___ North Dakota Gov. Doug Burgum on the economy:...
China's economy slowed in the last quarter as weak consumer demand dragged on growth
BANGKOK (AP) — China's economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported Monday, while emphasizing signs of improvement in factory output, income and investment. The expansion was sharply below the 5.3% annual pace of growth...
China’s exports grow 8.6% in June, beating forecasts despite trade tensions
HONG KONG (AP) — China’s exports beat forecasts in June, customs data showed Friday, while imports grew less than expected. Exports grew 8.6% from the same time last year to hit $307.8 billion, according to data released by Chinese customs, beating estimates of about 7.4% to 8%...
Powell stresses message that US job market is cooling, a possible signal of coming rate cut
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon. “We’re not just an...
EU commission approves Lufthansa purchase of long-troubled Italian airline ITA, with conditions
MILAN (AP) — The European Commission on Wednesday approved Lufthansa’s takeover of Italian airline ITA with conditions to protect competition in a deal that Italy's finance minister called “historic.” Lufthansa will invest 325 million euros ($350 million) to acquire a 41%...
China's premier slams trade tensions as EV exports are hit by tariffs
TAIPEI, Taiwan (AP) — Open markets and green technologies are vital for stabilizing global growth, China's premier said Tuesday, while criticizing trade tensions as he opened a conference in northeastern China. Premier Li Qiang told political and business leaders attending the...
EU criticizes France for excessive debt, putting pressure on Macron during election campaign
BRUSSELS (AP) — The European Union's executive arm on Wednesday criticized France for running up excessive debt, a stinging rebuke at the height of an election campaign where President Emmanuel Macron is facing a strong challenge from the extreme right and the left. The EU...
Cyprus says no let-up to fiscal discipline course as S&P raises country's credit rating to BBB+
NICOSIA, Cyprus (AP) — Cyprus said Saturday it won’t let up on a course of strict fiscal discipline while supporting economically vulnerable groups and the middle class after credit ratings agency Standard & Poor''s upgraded the country’s rating to BBB+ from BBB. Cypriot...
Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
WASHINGTON (AP) — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts. Jeff...
