Economy

Key things to note as Boris Johnson quits as PM

Highlights:,UK PM Boris Johnson is set to quit after more than 50 cabinet ministers tendered their resignations.,He will address the nations on Thursd...

Five major challenges new UK Chancellor Nadhim Zahawi faces

Highlights:,Nadhim Zahawi has been appointed as the new Chancellor of the Exchequer after Rishi Sunak stepped down.,Amid the cost-of-living crisis, Za...

Rishi Sunak and Sajid Javid resign amid the UK’s economic downturn

According to the latest Financial Stability Report published by BoE, the condition of the UK economy has worsened considerably.

ANTO, NG., CNA: Stocks to consider if recession hits UK

Accountancy firm KPMG has forecasted that the country may witness a recession next year. UK's GDP growth is estimated to shrink by half this year and...

UK inflation climbs to 9.1%: Which stocks can you consider now?

Highlights:,According to the ONS, UK inflation reached 9.1% in May, the highest since 1982.,This is more than four times the 2% target of the Bank of...

BoE raises interest rates to 1.25%: How will it affect UK inflation?

Highlights The Bank of England on Thursday announced the fifth consecutive hike in interest rates. The central bank was under pressure to take agg...

Why sending parcels may cost Aussies more?

Highlights Postal service providers, including Australia Post, have announced massive bumps to their surcharge fees. High fuel and transportation...

UK economy contracts by 0.3% in April: What lies ahead?

Highlights The UK economy shrank by 0.3% in April, the latest data from the ONS revealed on Monday. This is the first time that all main sectors -...

After no-confidence vote, Boris Johnson pledges to focus on UK's eco...

Highlights Prime Minister Boris Johnson on Monday won a no-confidence vote by a narrow margin. He now faces political uncertainty as 41% of his o...

Sunak announces £21bn cost-of-living support package. Is it enough?

Highlights Chancellor Rishi Sunak has announced a £15 billion cost-of-living package for struggling UK households. The Treasure will also gi...

Why is China moving against the tide in terms of interest rate chang...

Highlights China’s government has initiated country-wide lockdowns as rising COVID cases spark concerns. Lockdowns across the country have...

What is windfall tax? Will it affect soaring energy prices?

Highlights Amid the growing demand for a windfall tax, UK PM Boris Johnson declined to rule out the one-off levy. Labour expects that the windfall...

Political unrest in Sri Lanka amid rising economic turmoil

Highlights Several economists have said that the main problem behind Sri Lanka’s current situation is economic mismanagement. Hundreds hav...

Is the UK economy heading towards recession? 4 points to note

Highlights Lifting the interest rate yet again, the Bank of England has warned that the UK economy might be headed towards a recession. As per the...

Explained: How Russian economy is holding on despite heavy sanctions

Highlights: Despite geo-political turmoil and heavy sanctions, Russia picked up its exports in April. Most of Western European and other countries...

Three top hedges to shield your portfolio against inflation

Since the beginning of 2022, inflation worries have been mounting globally. The US recently recorded a 40-year high inflation while for New Zealand as...

Five ways to prepare for interest rate hikes

As an interest rate hike decision by the Reserve Bank of Australia (RBA) approaches closer, loan holders need to be prepared to part ways from a consi...

5 recent developments you may want to know about the UK economy

Highlights Retail and manufacturing costs have been soaring lately in the UK, resulting in higher prices for customers. Labour has recently warned...

Is UK staring at a food crisis in the coming months?

HIGHLIGHTS World Bank president David Malpass has said the world is facing a 'human catastrophe' from the food crisis. Food prices in the UK climb...

Boris Johnson, Rishi Sunak fined for violating lockdown rules at No...

Highlights PM Johnson, his wife Carrie, and Chancellor Sunak received Fixed Penalty Notices from the Met police for breaching COVID-19 lockdown rul...