world economy

Bitcoin falls on S.Korea curbs

Seoul - Muslimchronicle

Bitcoin fell more than 11 percent after South Korea said on Thursday it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them. The announcement came as the hyper-wired South emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions -- about 10 times the country's share of theRead more

Improving world economy still needs help from low rates

Washington - Muslimchronicle

The world economy is the healthiest it has been in years but could still use a little help from low-interest rates and higher government spending from countries that can afford it, the International Monetary Fund said. “There was a strong consensus that the global outlook is strengthening,” said Agustin Carstens, governor of the Bank of Mexico and outgoing chair ofRead more

German Economy Shows Broad Basis for Growth,

Frankfurt - QNA

The German economy is on a clear path to growth, according to the Institute for the World Economy (IfW), based in Kiel. The growth was on a "broad basis" and showed "strong momentum," the institute said in its economic forecast. The researchers saw consumption, exports and investment as key drivers in the economy, contributing to greater prosperity, German News AgencyRead more

ECB: Shock result ‘not a good day for world economy’

Brussels - Arab Today

Donald Trump’s shock election win in the US “is not a good day for the world economy” and could force the European Central Bank “to intervene,” governing council member Ewald Nowotny said Wednesday. Nowotny said in Vienna that the ECB was “prepared to intervene” as he warned of “massive insecurities” after the vote outcome sent shockwaves through global markets. “CloseRead more

A President Trump could destroy the world economy

Washington - MENA

As Republican presidential nominee Donald Trump speaks of “bringing back” American jobs by repudiating international trade agreements and resorting instead to pressure tactics, he is risking destroying the world economy according to the American newspaper the Washington Post. THE The decades since the end of the Cold War have seen strong and widely shared economic growth, on a global scale.Read more

G20 leaders agree to further int'l financial institution reform: Xi

Hangzhou - XINHUA

Chinese President Xi Jinping said Monday that G20 leaders have agreed to continue international financial institutions' quota and voting right reform to better represent emerging-market and developing countries. The leaders vowed to improve global economic and financial governance to enhance the risk resistance of the world economy, Xi told reporters after the conclusion of the G20 summit in the easternRead more

China's Xi warns against 'empty talk' as G20 summit opens

Hangzhou - Arab Today

Leaders of the world’s biggest powers met Sunday to try to revive the sluggish world economy, with their host Chinese President Xi Jinping urging them to avoid “empty talk.” Xi welcomed each president and prime minister to the Group of 20 summit with a handshake, and had an extended clasp with Barack Obama as both men smiled, despite protocol stumblesRead more

Chinese President Opens G20 Summit in Hangzhou

Hangzhou, China - QNA

Chinese President Xi Jinping has officially opened a two-day summit of the world's major economies, saying the Group of 20 should adopt new measures to generate growth momentum and avoid protectionism. The 11th G-20 economic forum takes place in the eastern Chinese city of Hangzhou. In opening remarks, President Xi said the world economy is recovering but faces multiple challengesRead more

Countries ‘need to seize the historic opportunity presented by innovation’

Hangzhou - Arab Today

China will work together with all parties to make the G20 Hangzhou summit prescribe remedies for the world economy to achieve strong, sustainable, balanced and inclusive growth, said President Xi Jinping. All parties at the summit should work to build an innovative and open world economy to generate new drivers of growth and expand the scope of development, Xi saidRead more

World economic recovery faces multiple risks, challenges: Xi

HAngzhou - XINHUA

The world economy is recovering but faces multiple risks and challenges such as insufficient growth momentum, lack of demand, repeated volatility in financial markets, and sluggish international trade and investment, Chinese President Xi Jinping said here on Sunday. Eight years after the global financial crisis, the world economy is once again at a critical juncture, Xi said at a summitRead more