Economy / Global

US labour market shows strength amid surge in payrolls gains

US labour market shows strength amid surge in payrolls gains

US job growth accelerated in November while the unemployment rate fell to 3.7 per cent, signs of underlying labour market strength that suggested financial market expectations of an interest rate cut early next year were probably premature. The Labor Department’s closely-watched employment r


India holds rates amid buoyant growth, to monitor inflation

India holds rates amid buoyant growth, to monitor inflation

India’s central bank on Friday raised its fiscal year growth forecast on the back of a robust economy and flagged continuing tight monetary policy while it keeps watch over inflation risks. The Reserve Bank of India expects the economy to expand 7 per cent in the current fiscal year from 6.5

Pakistan's forex reserves fall by $237 million

Pakistan's forex reserves fall by $237 million

The State Bank of Pakistan (SBP) said on Thursday that its foreign exchange reserves had decreased 237 million US dollars. During the week ending on Dec. 1, the total foreign exchange reserves of the bank fell to around 7.0 billion dollars, the SBP said in a statement. The decrease occurred "due

Italy tells China it is leaving Belt and Road Initiative

Italy tells China it is leaving Belt and Road Initiative

Italy has officially informed China that it is quitting the Belt and Road Initiative (BRI), dismissing fears the move might sour relations and damage the Italian economy, government sources said on Wednesday, reports Reuters.  Italy in 2019 became the first and so far only major Western natio

French economy contracts in Q3, inflation eases further

French economy contracts in Q3, inflation eases further

The French economy contracted by 0.1 per cent in the third quarter of the year, revised data from the statistics office INSEE showed on Thursday, while November inflation eased more than expected. The contribution of gross fixed capital formation, which indicates how much of the new value added in

Majority of Britons support rejoining the EU single market: Poll

Majority of Britons support rejoining the EU single market: Poll

A majority of Britons support rejoining the European Union's single market even though that would mean the restoration of the free movement of workers from the bloc, according to a poll published on Wednesday. Curbing immigration was a key reason Britons voted to leave the European Union in 2016.

Sri Lanka reaches debt restructuring deal with creditor states

Sri Lanka reaches debt restructuring deal with creditor states

Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals with c

Argentina's Milei says shutting central bank 'non-negotiable'

Argentina's Milei says shutting central bank 'non-negotiable'

Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter," according to a statement from his office posted on social media platform X. The comments, in response to what he called "false rumours