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Independent Journalism · Est. 2026
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Economy

1266 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 7/23/2026

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 7/23/2026

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 7/23/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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 7/22/2026

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
Economy 7/22/2026

Washington Judge Halts Kalshi's Event Contracts, Citing State Gambling Laws

In a major blow to the booming prediction market industry, a Washington state judge has ordered Kalshi to halt its 'event contracts,' ruling they likely violate the state's strict gambling laws and consumer protection statutes. King County Superior Court Judge John McHale granted a preliminary injunction on Monday, agreeing with Washington Attorney General Nick Brown that Kalshi's offerings resemble illegal betting more than regulated financial instruments. This decision means the New York-based platform cannot offer its services to Washington residents, marking a significant win for state regulators.

Editorial Team1 min
Washington Judge Halts Kalshi's Event Contracts, Citing State Gambling Laws
Economy 7/21/2026

Ant International Secures $1.2 Billion to Ignite Global Payments and IPO Ambitions

Ant International, the rapidly growing fintech offshoot of Jack Ma's Ant Group, has successfully closed a hefty $1.2 billion Series A equity financing round. This fresh capital infusion, backed by existing powerhouses Ant Group and Alibaba Group alongside other international investors, is set to supercharge its ambitious global expansion in digital payments, financial services, and enterprise solutions. The move signals a strategic push to cement its position in the fiercely competitive international fintech landscape.

Editorial Team1 min
Ant International Secures $1.2 Billion to Ignite Global Payments and IPO Ambitions
Economy 7/21/2026

Japan Battles Weak Yen: Urges Domestic Investment Amid Rate Hike Pressures

Japan is urgently pushing to repatriate capital and strengthen its dramatically weakened currency, with the Japanese Yen (JPY) hitting near 40-year lows against the US Dollar (USD) at roughly 162 JPY/USD this week. Prime Minister Sanae Takaichi and Finance Minister Satsuki Katayama are actively encouraging households and massive state pension funds, including the colossal Government Pension Investment Fund (GPIF), to boost domestic investments, aiming to reverse years of money flowing out of the country. This comes as the Bank of Japan (BOJ) navigates a delicate path of gradual policy tightening, raising its policy rate to 1.0% in June 2026, yet still contending with significant interest rate differentials that make overseas assets more attractive.

Editorial Team1 min
Japan Battles Weak Yen: Urges Domestic Investment Amid Rate Hike Pressures
Economy 7/21/2026

GLP-1 Gold Rush: US Healthcare Grapples With Skyrocketing Demand and Coverage Wars

The US healthcare landscape is currently reeling from an unprecedented surge in demand for GLP-1 receptor agonist drugs like Semaglutide and Tirzepatide, leading to a fierce battle over insurance coverage and skyrocketing costs. Eli Lilly has recently outpaced Novo Nordisk in market share, fueled by its dual-action Tirzepatide (Mounjaro and Zepbound) and the April 2026 launch of the new oral GLP-1, Foundayo, intensifying pressure on an already strained system.

Editorial Team1 min
GLP-1 Gold Rush: US Healthcare Grapples With Skyrocketing Demand and Coverage Wars
Economy 7/21/2026

US Gas Prices Soar Past $4 Mark as Iran Conflict Reignites Global Oil Shock

The average price of regular gasoline across the United States has abruptly surged back above $4 a gallon, marking a significant 13-cent jump in just one week. This unwelcome increase at the pump is directly tied to the renewed escalation of fighting between the U.S. and Iran, which has once again thrown global oil flows into disarray. Drivers are now facing the highest prices since mid-June, ending a brief period of relief for household budgets.

Editorial Team1 min
US Gas Prices Soar Past $4 Mark as Iran Conflict Reignites Global Oil Shock
Economy 7/21/2026

Trump Slaps 50% Tariffs on Canadian Goods, Reigniting Trade War with Key Ally

US President Donald Trump has reignited trade tensions with Canada, announcing a hefty 50% tariff on a wide array of Canadian products, including cars, alcohol, and dairy. This move, enacted on Monday through three presidential proclamations, comes in response to what the White House calls Canada's 'discriminatory treatment' of American goods. The tariffs, set to kick in on August 19, mark a significant escalation in the ongoing trade dispute between the two closely linked North American neighbors.

Editorial Team1 min
Trump Slaps 50% Tariffs on Canadian Goods, Reigniting Trade War with Key Ally
Economy 7/21/2026

Russia-China Tourism Booms: Visa-Free Travel Fuels Massive Influx, New Train Launched

Tourist numbers from China to Russia are set to jump by an impressive 27-35% by the end of 2026, according to Maya Lomidze, Executive Director of the Association of Tour Operators of Russia (ATOR). This surge follows the recent extension of the reciprocal visa-free policy between both nations until December 31, 2027, and is further bolstered by the launch of a new cross-border tourist train connecting China's Suifenhe with Russia's Vladivostok on July 20, 2026. The new rail service, now on trial, provides a direct eight-hour journey for organised tourist groups, significantly simplifying travel and deepening connectivity.

Editorial Team1 min
Russia-China Tourism Booms: Visa-Free Travel Fuels Massive Influx, New Train Launched
Economy 7/21/2026

EV Market Sees Mixed Signals as Ford Settles Union Deal, Honda Eyes New Factory

The global electric vehicle (EV) market is showing mixed signals, with sales in May 2026 only seeing a small dip, which some experts call an improvement after earlier sharp declines. While worldwide EV sales grew by 3% year-on-year in May to 1.8 million units, the US market saw a modest 0.7% decrease compared to last year, marking the smallest drop in eight months. This comes as Canadian Ford workers have successfully ratified a new three-year contract, and Honda considers building another factory in North America to boost production for popular hybrid and traditional gasoline cars.

Editorial Team1 min
EV Market Sees Mixed Signals as Ford Settles Union Deal, Honda Eyes New Factory
Economy 7/20/2026

Iran War Chokes Ryanair's Profits: Fuel Soars, Fares Drop by a Third

Ryanair, Europe's biggest airline, just saw its profits crash by a shocking 34% in the first quarter of its fiscal year, hitting 538 million EUR. This sharp decline comes as the five-month-old Iran war continues to rattle global markets, doubling the cost of the airline's unhedged jet fuel while simultaneously forcing it to slash fares to tempt wary travelers.

Editorial Team1 min
Iran War Chokes Ryanair's Profits: Fuel Soars, Fares Drop by a Third
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