Economy / Global

Ukraine considers shift from dollar to euro

Ukraine considers shift from dollar to euro

Ukraine is starting to consider a shift away from the US dollar, possibly linking its currency more closely to the euro amid the splintering of global trade and its growing ties to Europe, Central Bank Governor Andriy Pyshnyi told Reuters. Potential accession to the European Union, a "strengthenin


US, China to hold ice-breaker trade talks in Geneva

US, China to hold ice-breaker trade talks in Geneva

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's economic tsar He Lifeng in Switzerland this weekend for talks that could be the first step toward resolving a trade war disrupting the global economy. News of the meeting announced by Washington late Tu

ADB scales up food security support to $40b for Asia-Pacific

ADB scales up food security support to $40b for Asia-Pacific

The Asian Development Bank (ADB) on Sunday announced plans to expand its support to long-term food and nutrition security in Asia and the Pacific by US$26 billion, bringing its total funding for food security initiatives to $40 billion over 2022-2030. The proposed assistance would fund a comprehen

California open to trade with China: state governor

California open to trade with China: state governor

California Governor Gavin Newsom has said that the Golden State will remain open to trade with China as the current U.S. administration's tariff policy has threatened the largest state economy in the country. He made the remarks in an online interview with Nikkei Asia on Friday, reports Xinhua cit

India's exports reach all-time high in FY25

India's exports reach all-time high in FY25

India's total exports grew over 6 per cent, reaching an all-time high of 824.9 billion US dollars during the financial year 2024-25 (April, 2024-March, 2025), according to the Ministry of Commerce and Industry on Friday. The country's total exports figure stood at 778.1 billion dollars during the

Dollar poised for third weekly gain as tariff concerns ease

Dollar poised for third weekly gain as tariff concerns ease

The US dollar headed for a third-straight weekly gain as signs of progress in Washington's talks with some of its trading partners and better-than-expected data eased concerns over investments in the world's largest economy. The dollar, US Treasuries and shares have bounced from steep declines las

Uncertainties weighing down Mideast economies, IMF says

Uncertainties weighing down Mideast economies, IMF says

Countries across the Middle East and North Africa face significant challenges to economic growth as the region faces economic uncertainty due to tariff measures, lower-than-recent oil prices and cuts to financial aid, the International Monetary Fund said Wednesday. The IMF's regional outlook repor

US economy in Q1 shrinks amid new tariff policies

US economy in Q1 shrinks amid new tariff policies

U.S. gross domestic product (GDP) shrank at an annual rate of 0.3 percent in the first quarter of this year, amid new tariff policies that have increased uncertainty and dampened confidence. The latest figure follows a 2.4 percent GDP growth in the fourth quarter of 2024, according to the U.S. Bur

US economy contracts in the first quarter

US economy contracts in the first quarter

The US economy contracted for the first time in three years in the first quarter, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs and underscoring the disruptive nature of President Donald Trump's often chaotic trade policy. The Commerce Department's advance gr

Saudi Arabia's non-oil exports hit record high in 2024

Saudi Arabia's non-oil exports hit record high in 2024

Saudi Arabia's non-oil exports soared to an unprecedented 515 billion Saudi Riyals (137.33 billion US dollars) in 2024, marking a 13 per cent increase from 2023, the Saudi Press Agency reported on Saturday. According to statistics from the Saudi Export Development Authority, the kingdom's robust e

World breathes sigh of relief as Trump spares Fed, IMF

World breathes sigh of relief as Trump spares Fed, IMF

Global policymakers gathering in Washington this week breathed a collective sigh of relief that the US-centric economic order that prevailed for the past 80 years was not collapsing just yet, despite Donald Trump's inward-looking approach. The Spring Meetings of the International Monetary Fund and

California overtakes Japan as world's fourth largest economy

California overtakes Japan as world's fourth largest economy

California's economy has overtaken that of Japan, making the US state the fourth-largest global economy. Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California's growth, the BBC reports. The data shows that Califo