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They say, ‘pandemic changed the way we work, live, and socialize.’ Really?

Covid-19, a reminder of fragility of human life & systems The Covid-19 pandemic has served as a reminder of the fragility of human life and the systems we have built around us, such as the world economy. Even though the pandemic’s worst days appear to be behind us now, the infections continue to show a […]

ASEAN and pandemic recovery: Economy before strategic rivalry

The sweeping consequences of Covid-19 have carried a devastating cost right across the world, but especially for less-developed countries that began the crisis at a disadvantage. This is the case for much of Southeast Asia, where the recovery process has also proved stubbornly slow. Most members of the Association of Southeast Asian Nations are finding […]

UK economic outlook has deteriorated, Bank of England warns

While the Bank said the UK’s banking sector was well-placed to cope with a severe downturn, it said banks must increase the amount of money they set aside to absorb shocks. Starting a year from now, banks will be required to set aside a sum equal to 2% of their assets as a buffer, as […]

Gold weakens as dollar climbs to 22-year high vs. euro

Gold prices weakened again on Thursday, breaking below $1,800 per ounce, as the U.S. dollar climbed to a new 22-year high against the euro. Price action Gold prices for August delivery shed $4, or 0.2%, to $1,797. Silver prices for September delivery were flat at $19.70 per ounce. Palladium prices for September delivery were off […]

My Say: Could a US recession derail Asia’s recovery?

There is growing chatter about a US recession. Talking heads have popped up all over the media asserting confidently that the American economy is doomed to contract because its central bank is tightening monetary policy aggressively at a time when the surge in inflation, escalating energy costs and the horrors of the Ukraine war are […]

The global solution: private or public?

The new chief economist for the IMF IMFInternational Monetary Fund Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were signed. Its first mission was to support the new system of standard exchange rates. When the Bretton Wood fixed rates system came to an end in 1971, the […]

European stocks rise as traders assess health of global economy

European stock markets started the week on an upbeat note as traders queried central banks’ resolve to keep raising interest rates amid mounting evidence of a global economic slowdown. The regional Stoxx 600 rose 0.5 per cent on Monday, with London’s FTSE 100 adding 1.2 per cent. US equity and bond markets were closed for […]

ECB Interest Rate Hike Should Start With Quarter-Point Hike in July, Muller Says

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The European Central Bank should stick with its plan of starting off tightening with only a quarter-point interest-rate hike, said Madis Muller, the policy maker whose economy has the region’s fastest inflation. Read more…

McDonald’s Dollar Drinks Deal Fades in the Face of Inflation

Inflation is coming for McDonald’s dollar drinks. Some McDonald’s Corp. locations are axing the chain’s U.S. deal offering soda and other cold beverages of any size for a buck as restaurant owners try to manage a record spate of inflation. Owners in a number of the chain’s markets recently have voted to ditch the drink […]

America needs to get women back into work

As any summer traveller knows, many people working in the tourism industry these days seem overworked and stressed out. Leisure and hospitality was far harder hit than any other industry in the US during the pandemic, and it is still struggling to keep up, with some 1.4mn jobs unfilled compared with pre-pandemic levels. This isn’t […]