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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
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World
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All Stories

Economy

695 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 3 days ago

Gold Stumbles as Rising Oil Fuels Fed Rate Hike Fears Ahead of Key Meeting

Gold prices are taking a hit, dropping further after a 2% slide yesterday, now hovering just above the critical $4,000 mark. This dip comes as investors brace for potential interest rate hikes from the U.S. Federal Reserve, driven by renewed worries about inflation. The catalyst? Brent crude oil surging past $100 a barrel, making everything from fuel to everyday goods more expensive.

Editorial Team1 min
Gold Stumbles as Rising Oil Fuels Fed Rate Hike Fears Ahead of Key Meeting
Economy 3 days ago

Copper Rush: ASX Juniors Brave South America's Toughest Terrain for Giant Deposits

Australian junior mining companies are making a bold pivot to South America, pouring capital into a high-stakes hunt for massive copper-gold deposits as global copper prices continue their upward climb. This shift is happening despite significant operational hurdles like severe water scarcity, spiking sulfuric acid costs, and persistent infrastructure challenges across the continent, signaling a desperate scramble to meet the soaring demand for the critical metal. Companies like Piche Resources are actively raising funds for exploration in Argentina, while Super Copper Corp. has mobilized for drilling in Chile's Atacama region, aiming to tap into one of the world's richest copper belts.

Editorial Team1 min
Copper Rush: ASX Juniors Brave South America's Toughest Terrain for Giant Deposits
Economy 3 days ago

China's Central Bank Signals Weaker Yuan, Fueling Growth and Trade Debates

The People's Bank of China (PBOC) has set today's USD/CNY reference rate at 6.7939, a notable move above the 6.7795 market estimate and yesterday's close of 6.7777. This higher fixing signals a weaker yuan, giving a clear policy steer from Beijing as it navigates complex domestic economic pressures and global trade dynamics.

Editorial Team1 min
China's Central Bank Signals Weaker Yuan, Fueling Growth and Trade Debates
Economy 3 days ago

Oil's Shockwave: Middle East Conflict Sends Asian Markets and Global Bonds Spiraling

Asian stock markets are reeling, and global bond markets are in a chokehold today as Brent crude oil prices violently surge past $100 a barrel, fueled by the intensifying US-Iran conflict and Houthi attacks on vital shipping lanes. This dramatic oil spike is reigniting fears of persistent inflation, forcing central banks worldwide to reconsider their interest rate strategies and potentially abandon any thoughts of cuts. The ripple effect is immediately visible: South Korea's Kospi plunged nearly 6%, Japan's Nikkei 225 shed almost 3%, and other major Asian indices like Hong Kong's Hang Seng and the Shanghai Composite saw significant drops, while India's Sensex also traded lower.

Editorial Team1 min
Oil's Shockwave: Middle East Conflict Sends Asian Markets and Global Bonds Spiraling
Economy 3 days ago

Trump Unleashes Sweeping 'Forced Labor' Tariffs on 60 Nations as Old Levies Expire

President Donald Trump's administration has just rolled out new double-digit tariffs on imports from 60 countries, effective July 24, 2026, citing their alleged failure to curb 'forced labor' in supply chains. These new levies, ranging from 10% to 12.5%, immediately replace a temporary 10% global import tax that expired at midnight, marking a significant escalation in the President's efforts to reshape global trade under the banner of human rights and American economic interests.

Editorial Team1 min
Trump Unleashes Sweeping 'Forced Labor' Tariffs on 60 Nations as Old Levies Expire
Economy 4 days ago

Trump Nominates Emergency Doctor Timothy Westlake to Lead SAMHSA Amid Policy Shifts

President Donald Trump has officially nominated Dr. Timothy Westlake, a Wisconsin emergency physician and the current Chief of Staff at the Substance Abuse and Mental Health Services Administration (SAMHSA), to lead the crucial federal agency as Assistant Secretary for Mental Health and Substance Use. This move, announced on July 14, 2026, positions a doctor with extensive frontline experience in addiction and a personal history of recovery at the helm of an agency central to the nation's behavioral health efforts, pending Senate confirmation.

Editorial Team1 min
Trump Nominates Emergency Doctor Timothy Westlake to Lead SAMHSA Amid Policy Shifts
Economy 4 days ago

Centrica Sheds 1,300 Jobs Amid Digital Shift and Profit Dip at British Gas

British Gas owner Centrica is set to cut a significant 1,300 jobs over the next two years, including an additional 800 announced recently, as it grapples with a major shift in customer behaviour and an 18% drop in first-half adjusted core profit. This overhaul will impact roughly 14% of its customer operations workforce, affecting key call centre locations across the UK.

Editorial Team1 min
Centrica Sheds 1,300 Jobs Amid Digital Shift and Profit Dip at British Gas
Economy 4 days ago

India's Trade Explodes: RBI Cites Robust Growth, Surge in Foreign Investment

India's external trade sector has kicked off the new financial year with exceptional momentum, according to the Reserve Bank of India's latest bulletin, showcasing strong growth in both exports and imports during the first quarter of 2026-27. This robust performance is a key sign of India's economic resilience amidst global uncertainties and signals growing confidence from international investors.

Editorial Team1 min
India's Trade Explodes: RBI Cites Robust Growth, Surge in Foreign Investment
Economy 4 days ago

KNUST Secures $3M Mastercard Foundation Prize for Pioneering African Higher Education Transformation

Ghana's Kwame Nkrumah University of Science and Technology (KNUST) has made headlines as one of five inaugural recipients of the Africa Higher Education for Transformation (AHEFT) Prize, securing a $3 million grant from the Mastercard Foundation. Announced this week, the prestigious award recognizes KNUST's exceptional leadership in driving institution-wide transformation and expanding vital opportunities for young people across the continent, particularly through its robust research and innovation ecosystem.

Editorial Team1 min
KNUST Secures $3M Mastercard Foundation Prize for Pioneering African Higher Education Transformation
Economy 4 days ago

Vietnam Pressures US to End Trade Probes as Trump-Era Tariffs Near Expiry

Hanoi is making a strong push for Washington to wrap up its lingering trade investigations, with Vietnam's foreign ministry urging the US to conclude the Section 301 probes ahead of a looming tariff deadline. The appeal came on Thursday, July 23, 2026, as Vietnamese Foreign Minister Le Hoai Trung met US Secretary of State Marco Rubio on the sidelines of an ASEAN summit in Manila, spotlighting the urgency of the stalled trade negotiations between the two nations. A temporary 10% tariff on Vietnamese goods, initially imposed by former President Donald Trump, is set to expire on Friday, adding pressure to an already tense situation.

Editorial Team1 min
Vietnam Pressures US to End Trade Probes as Trump-Era Tariffs Near Expiry
Economy 4 days ago

KLCI Edges Up as Surging Oil Battles US Tech Slump and Global Unease

Malaysia's benchmark FBM KLCI managed a modest 0.19% gain to close at 1,714.59 on Thursday, snapping a three-day losing streak, but this slight uptick reflects a deeply split market as soaring global oil prices clash with a struggling US tech sector. While buying interest in energy and utilities offered some support, broader market sentiment remained cautious amidst widespread global economic jitters. The index's resilience in the face of international headwinds shows investors are carefully picking winners, especially those benefiting from rising commodity costs.

Editorial Team1 min
KLCI Edges Up as Surging Oil Battles US Tech Slump and Global Unease
Economy 5 days ago

New York Landlords Launch Legal Fight Against Mayor Mamdani's Rent Freeze

New York City's rental market is facing a major legal battle as a group of landlords sued Mayor Zohran Mamdani on Wednesday to stop his controversial rent freeze. The lawsuit aims to block a policy that would halt rent increases for approximately one million rent-stabilized apartments from October 1, 2026, through September 30, 2027, fulfilling a key campaign promise from the self-declared democratic socialist mayor. This move is part of Mamdani's broader crackdown on landlords, which also includes plans to formally recognize tenant unions and potentially ban or limit credit checks for prospective renters.

Editorial Team1 min
New York Landlords Launch Legal Fight Against Mayor Mamdani's Rent Freeze
Economy 5 days ago

Guam Schools Lock In Free Meals for All Students Through 2027, Boosting Well-being

The Guam Department of Education (GDOE) has confirmed that all students will continue to receive free breakfast and lunch throughout School Year 2026-2027, leveraging the U.S. Department of Agriculture's (USDA) Community Eligibility Provision (CEP). This critical move ensures that thousands of students across the island will have consistent access to nutritious meals, alleviating a significant financial burden for families and directly supporting student well-being and academic performance.

Editorial Team1 min
Guam Schools Lock In Free Meals for All Students Through 2027, Boosting Well-being
Economy 5 days ago

New PM Andy Burnham Urged to Axe Youth Job Taxes Amidst Soaring Unemployment

Just days into his premiership, Prime Minister Andy Burnham faces an urgent demand from the UK Parliament's Work and Pensions Committee to scrap job taxes for all under-25s, a critical move aimed at tackling a worsening youth unemployment crisis. The cross-party committee, in a new report released this week, highlights that current government policies are falling short as over one million young people aged 16 to 24 are currently not in education, employment, or training (NEET). This urgent call puts immediate pressure on Burnham to deliver on his pledge to offer 'hope for every young person' and address the escalating jobless rates.

Editorial Team1 min
New PM Andy Burnham Urged to Axe Youth Job Taxes Amidst Soaring Unemployment
Economy 5 days ago

Trump Declares Stiff Future Tariffs on Generic Drugs to Drive US Production

US President Donald Trump has unveiled a sweeping new trade policy impacting generic drug imports, announcing phased tariffs that will escalate to 200% by August 2029. Starting August 1, 2026, generic drugs will remain tariff-free for two years, but this will be followed by a 100% duty from August 2028 for one year, and then a hefty 200% tariff thereafter. The move, announced on Truth Social, aims to aggressively 'reshore' pharmaceutical production to the United States and reduce the nation's heavy reliance on foreign-made medicines.

Editorial Team1 min
Trump Declares Stiff Future Tariffs on Generic Drugs to Drive US Production
Economy 5 days ago

Pakistan Seeks US $10 Billion Lifeline to Bolster Fragile Economy and Reserves

Pakistan has formally requested a massive $10 billion financial support facility from the United States, aiming to boost its critical Foreign Exchange Reserves and stabilize its currency. This bold move, revealed on July 22, 2026, through Reuters, signals Islamabad's urgent need for a financial lifeline with a maturity of up to five years, even as it continues an ongoing International Monetary Fund (IMF) program. The request was made to US Treasury Secretary Scott Bessent, with Pakistan hoping this Bilateral Exchange Stabilisation Support Facility will ease pressure on its economy and reduce reliance on other international lenders.

Editorial Team1 min
Pakistan Seeks US $10 Billion Lifeline to Bolster Fragile Economy and Reserves
Economy 5 days ago

Trump's New Canada Tariffs Spark Fury in Maine, Threatening Key Industries

Senator Susan Collins is scrambling to protect Maine as President Donald Trump's new, hefty 50 percent tariffs on Canadian goods loom, threatening to devastate her state's deeply connected economy. The tariffs, announced by the White House on Monday, July 20, specifically target Canadian automobiles, alcohol, and dairy products, and are set to kick in on August 19, 2026. This aggressive move, based on a rarely used 1930s law, has ignited a fierce backlash from Maine leaders who fear massive job losses and price hikes for consumers.

Editorial Team1 min
Trump's New Canada Tariffs Spark Fury in Maine, Threatening Key Industries
Economy 6 days ago

Trump Unleashes Historic 50% Tariffs on Canada, Bypassing Key Trade Pact

In a move shaking up North American trade, U.S. President Donald Trump has slapped Canada with unprecedented 50% tariffs on a range of goods, deliberately sidestepping the Canada-United States-Mexico Agreement (CUSMA). These new duties, invoked under the rarely used Section 338 of the Tariff Act of 1930, are set to take effect on August 19, 2026, targeting Canadian dairy, alcoholic beverages, motor vehicles, and other products like hockey sticks and cement.

Editorial Team1 min
Trump Unleashes Historic 50% Tariffs on Canada, Bypassing Key Trade Pact
Economy 6 days ago

Houthi Red Sea Blockade Jolts Global Oil Markets, Igniting Inflation Concerns

Yemen's Iran-aligned Houthi rebels have declared a naval blockade on Saudi Arabia, specifically threatening Saudi-linked vessels navigating the Bab el-Mandeb Strait. This dramatic escalation, announced on July 20-21, 2026, has sent immediate ripples through global energy markets, pushing Brent crude oil prices above $91 a barrel and triggering fresh fears of widespread inflation. The Houthis claim this move is a direct response to Saudi Arabia's alleged blockade of Yemen and a recent airstrike on Sanaa International Airport, with at least two tankers carrying Saudi crude for China and India reportedly reversing course in the Red Sea.

Editorial Team1 min
Houthi Red Sea Blockade Jolts Global Oil Markets, Igniting Inflation Concerns
Economy 6 days ago

Yanara Secures EUR150 Million Boost for Australian Green Energy Future

Yanara just locked in a hefty EUR 150 million (about USD 171 million) investment from global asset manager Mirova to turbocharge its clean energy projects across Australia. This massive funding push will fuel the development of over 2 gigawatts (GW) of new solar, wind, and battery storage infrastructure in key states like Victoria, New South Wales, and Western Australia, marking a crucial step in the country's shift away from coal.

Editorial Team1 min
Yanara Secures EUR150 Million Boost for Australian Green Energy Future
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