The government of Indonesia announced earlier this week that it will reimpose a domestic sales restriction for palm oil, a day after the world's largest producer of the key edible oil reversed an export ban.   Since November, President Joko Widodo's government has reversed key palm oil...

A draft declaration showed that the Group of Seven finance leaders agreed on Thursday to provide $18.4 billion to help Ukraine pay its debts in the coming months, and that they were willing to stay with Kyiv throughout the war with Russia and provide more if necessary.   Finance...

For the first time in seven years, Japan's core consumer inflation surpassed the central bank's target of 2 per cent in April, but only due to growing import costs, not the robust domestic demand that the central bank has been seeking to foster.   Nonetheless, the 2.1 per cent increase in...

The European Commission (EC) has proposed a €210 billion plan to phase out Russian energy resources entirely by 2027. Its main concern is how to replace the 155 billion cubic meters of gas supplied by Russia to EU countries. It will do so primarily by hastening the transition to renewable energy,...

The economic consequences of Russia's military action in Ukraine have caused S&P to lower its GDP growth forecast for some of the world's top countries for the next two years. According to the agency, the Asia-Pacific region's economy, which includes China, will only begin to rise in 2023. "A...

Last month, inflation in the United Kingdom reached its highest annual rate since 1982, forcing finance minister Rishi Sunak to provide additional assistance to people and the Bank of England to maintain interest rate hikes despite the possibility of recession.   The Office for National...

There was a more than predicted expansion of factory output in the United States in April driven by the ongoing high demand for automobiles and other items, which should support manufacturing activity.   The Federal Reserve said on Tuesday that manufacturing production grew 0.8 per cent in...

Economists at the World Economic Forum (WEF) in Davos, Switzerland, have compiled five scenarios for the global economy and trade against the backdrop of the geopolitical situation. The document is published on the WEF website. There are five scenarios in the review. The first one suggests...

China has released poor economic data for April, highlighting the country's enormous damage caused by Covid lockdowns. Retail sales and industry production in the world's second largest economy fell dramatically short of market estimates.   According to China's National Bureau of Statistics,...