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Economy

US and China launch economic and financial working groups to ease tensions

The announcement follows a string of high-ranking US officials' visits to China this year, which sets the stage for a possible meeting between Biden and Xi in November at an Asia-Pacific Economic conference.

Economy

Sweden's central bank ramps up key interest rate over high inflation

The moves comes on a busy day of central bank action in Europe, with the UK, Norwegian and Swiss central banks announcing or expected to announce whether they will amend their interest rates.

Economy

Norway central bank pushes up interest rate, hinting at another hike in December

"Whether additional tightening will be needed depends on economic developments," said Norges Bank governor Ida Wolden Bache. "There will likely be one additional policy rate hike, most probably in December."

Economy

UK sees surprise fall in inflation

The decline was a surprise as most analysts had expected inflation in the UK to rise to 7%, but the new figure is still way above the Bank of England's target of 2%.

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Economy

US-Venezuela relations at a tipping point: investors bet on possible sanctions relief

Bonds in the South American nation of Venezuela are rising in value as rumours circulate about a possible rapprochement between Washington and Caracas. The US has shown its willingness to move, but will President Nicolás Maduro make concessions ahead of next year’s election?

Business

Russia raises interest rate to 13% as economy struggles

The Central Bank of Russia raised its key lending rate by one percentage point to 13% on Friday, a month after imposing an even larger hike.

Economy

ECB hikes interest rates again, despite threat of recession

The decision raises the ECB’s benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999.

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.

Business

Sweden to increase defence spending amid NATO bid

The country's defence minister said it faced the "most serious security policy situation since the end of World War II".

Portugal

Estoril Conferences 2023: Acting now for a more humane world

With Nobel Laureates, politicians, scientists and environmentalists in attendance, the conference addressed some of the most pressing challenges of the day and provided opportunities for younger generations to engage with these issues.

Business Planet

What is the EU doing to protect small businesses from late payments?

In partnership with The European Commission

In this episode of Business Planet, we hear what late payments can mean for businesses, and ask how the EU can help protect vulnerable entrepreneurs.

Economy

Inflation in Turkey jumps to 59%

Inflation reached 58.9% year-on-year in August in the country, the highest since December 2022, according to official data published on Monday.

World News

Euroviews. AI could be the great equaliser the less well-off parts of Europe need

AI can undoubtedly be a force for good in Eastern Europe, which has historically lagged behind the more affluent western countries of the continent, Cristian Gherasim writes.

Earth News

Where in the world is running out of water?

More than two dozen countries are using a majority of their renewable water supply every year making them vulnerable to drought.

Travel News

Should tourists stay away from Maui after deadly wildfires?

A company that held a charity snorkeling tour near burned out Lahaina later has since issued an apology.

World News

Aid workers warn of deepening humanitarian crisis in Afghanistan

Non-governmental humanitarian organisations say that Afghanistan is facing the world's largest humanitarian crisis and call on the international community not to forget the people on the ground.

Business

Inflation slows down in France, UK economy grows by 0.2%

France's inflation dropped to 4.3% in July, the lowest level since February last year, while the UK economy has avoided stagnation, growing 0.2% between April and June.

Economy

Eurozone inflation drops in July as growth accelerates

Inflation in the 20-country eurozone dropped to 5.3% in July, while GDP grew by 0.3% in the second quarter of 2023.

Partner content

Uzbekistan's Journey to Progress: Examining the Path of Reform and Future Prospects

Partner content presented by the Ministry of Culture and Tourism of Uzbekistan

Tashkent, Uzbekistan - Uzbekistan citizens last week were given a week-long examination of how their nation’s reform program has progressed and where it is heading now.

Business Planet

Are short-term rentals the cause of Porto's housing crisis?

In partnership with The European Commission

Residents of Porto say they're being squeezed out of the housing market by short-term rentals, but landlords say they're boosting the local economy