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Economy

The global economy 'is limping along, not sprinting' - IMF report

The global economy continues to recover, but GDP growth is going to slow down over the next two years, the IMF has said in its latest economic outlook.

Tech News

Israel's tech sector braces for disruption as Hamas conflict deepens

Israel boasts the second largest tech ecosystem outside of Silicon Valley, accounting for a fifth of GDP. Now war poses major disruption.

Economy

Norway and Germany see economic slumps in August

Norway’s economy has shrunk for the first time in four months as Germany's industrial output fell for the fourth consecutive month.

Business

Russian economy expected to grow despite war fallout

The country is defying expectations and weathering sanctions but an eventual slowdown is still expected.

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Travel News

Ministers and travel experts arrive in Riyadh for World Tourism Day

It is expected to be the biggest event in its history.

Economy

Spain sees better-than-expected post-COVID growth

The revisions are due to new economic data and the difficulty in measuring economic activity in "such exceptional circumstances" as the COVID-19 pandemic, according to the INE.

Economy

UK economy slumps amid strikes and rain

The UK's GDP has shrunk by more than expected, following news of higher unemployment but also higher wages.

Economy

EU economy loses momentum amid war, inflation and natural disasters

The European Commission has revised down its economic forecast, warning that stubbornly high prices for goods and services are "taking a heavier toll than expected."

Economy

Eurozone sees sluggish growth in second quarter

The latest figures from Eurostat show that economic activity in the eurozone grew less than initially estimated, by 0.1% over the April-June period compared to the previous three months.

Economy

Denmark's economy boosted by anti-obesity treatments

Over the first six months of the year, Danish GDP rose by 1.7% year-on-year, according to national statistics, but without the contribution of the pharmaceutical industry, it would have fallen by 0.3%.

Business

BRICS wants an increased influence that the West cannot ignore anymore

Six new countries are set to join the BRICS to make their presence felt on the global economic stage. But the Western world’s sustainability goals might suffer the consequences.

Economy

Heat to slash European countries' GDP by as much as one point - study

Recent heat waves could cut global growth by almost 0.6 percentage points in 2023 with several European countries particularly impacted, according to an estimate by Allianz Trade.

World News

Drought: Agriculture must 'adapt to climate change'

The lack of regular rainfall and a temperature rise of 2 degrees Celsius would cause Spain to lose 7% of its GDP, according to the Spanish Committee of Farmers' and Stockbreeders' Organisations.

Germany

Germany slips into recession, economy shrank 0.3% in first quarter

The figures were a blow to the German government, which last month boldly doubled its growth forecast for this year after a feared winter energy crunch failed to materialise.

World News

NATO: Why is spending 2% of GDP on defence so controversial?

Only seven of NATO's 30 allied countries met the military spending target of 2% of GDP set by the North Atlantic Alliance in 2022.

Economy

Eurozone surprises by avoiding contraction in last quarter of 2022

France, Spain, Belgium and Portugal were among those who posted positive growth, while Germany, Italy and Austria contracted.

Economy

Economic growth in the EU falls

Europe's economy has continued to cool with GDP in both the eurozone and the wider EU expanding only marginally in the third quarter.

Tech News

Metaverse could be worth $3 trillion to global GDP in 10 years - study

A new report claims that metaverse technology could make up 2.8 per cent of global GDP in its first decade, if adopted similarly to mobile tech.

China

China's birth rate drops to a record low

Changes to the strict "one-child policy" since 2016 have failed to result in a hoped-for baby boom

Tech News

Eurozone GDP recovered more rapidly than expected post-COVID lockdowns

Increased consumer spending was marked out as a catalyst for a rapid rise in GDP in the EU and eurozone, according to the new report.