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Special Financial Investment Territory Launched in Tamchy
A new Special Financial Investment Territory has been launched in Tamchy, aiming to boost economic growth and attract foreign investment through tax incentives and streamlined regulations.
Category : Economy GDP
Ex-Treasury adviser calls for Miliband as chancellor
Nicholas Stern, former chief economic adviser to the Treasury, urges Andy Burnham to appoint Ed Miliband as chancellor, citing his bold vision to revive the UK economy.
Burnham's economic hurdles persist despite market relief
Andy Burnham inherits weak growth, high debt, and rising spending demands. Recent falls in energy prices and borrowing costs offer some relief, but long-term challenges remain.
South Korea AI Chip Boom Fuels Wealth Gap
South Korea's AI chip boom is widening the wealth divide, with the top 10% earning 14 times more than the bottom 10%, according to a new report.
Australia median wealth down 7% since 2020, UBS reports
Average wealth among Australians climbed 19% this decade but median wealth dropped 7%, UBS finds, highlighting a growing divide between the wealthiest and broader population.
1 July 2026: Minimum wage rise, payday super, parental leave
About 2.8 million Australians get a 4.75% pay rise from 1 July 2026. Payday super, expanded parental leave, tax cuts, and anti-price-gouging measures also start.
Global billionaire count hits record 3,302 amid AI boom
The number of billionaires worldwide surged 13% to a record 3,302, with wealth growing 25% on average, driven by AI-related stock market gains, according to UBS.
UK disposable incomes fall 0.8% in first quarter
UK household disposable income fell 0.8% in Q1 2026 due to inflation and higher capital gains tax, while GDP grew 0.6%, ONS reports.
UK firms get £3,000 grant for hiring long-term jobless youth
British employers will receive £3,000 for every long-term unemployed young person hired, aiming to help 60,000 18-24 year olds into work over three years amid a youth jobs crisis.
Andy Burnham Premiership: Impact on Wealth and Economy
Andy Burnham's potential premiership could reshape wealth distribution and economic policy, focusing on regional equality and taxing the rich, according to analysts.
Australian Energy Prices Rise Despite Expected Cuts
Despite Chris Bowen's claims of falling energy prices, many households face higher bills due to increased fixed supply charges, prompting a regulator investigation.
CGT discount changes already curbing housing prices, data shows
New data reveals the proposed CGT discount changes are already lowering house prices, contradicting conservative claims that the discount had no impact on affordability.
Sadiq Khan urged to use existing powers better amid skills gap
Mayor Sadiq Khan faces criticism for not using his convening powers to address London's skills gap, as other Metro Mayors like Andy Burnham have done successfully.
Economists back Miliband after Unite leader's job criticism
Over 40 progressive economists have urged Unite leader Sharon Graham to withdraw her claim that Ed Miliband would destroy jobs as chancellor, citing the net zero economy's £100bn output and over 1 million jobs.
RBA rate hikes likely as underlying inflation climbs to 3.6%
Australia's underlying inflation rose to 3.6% in May, suggesting the RBA may hike rates again despite headline inflation falling to 4% due to lower fuel prices.
Labor-Greens Deal on Capital Gains and Negative Gearing Reforms
The Australian Labor Party and the Greens have agreed to reforms limiting capital gains tax concessions and negative gearing for new investments, effective from July 2026.
Starmer's economic legacy: mixed results on growth and jobs
Keir Starmer's economic record shows moderate GDP growth, rising unemployment, and inflation spikes, with national debt easing slightly and interest rates cut six times.
Gen Z Outpaces Millennials in Earnings at Same Age
Gen Z workers in the UK are earning more than millennials did at the same age, driven by strong wage growth and tight labour market, according to Resolution Foundation analysis.
Hong Kong Second in Global Competitiveness
Hong Kong has climbed to second place in the latest global competitiveness ranking, according to a report by the International Institute for Management Development.
Musk Trillionaire Highlights US Inequality
Elon Musk's trillionaire status underscores America's deep inequality. Despite past efforts, redistribution remains weak, with taxes favoring the rich.
Trump hails Iran deal but economic war costs persist
Donald Trump signs Iran memorandum of understanding at Versailles, hailing market approval as oil prices fall below $80. Yet war economic costs linger, with US inflation at 4.2% and Gulf GDP expected to decline 2.6%.
UK Borrowing Surges to £23.3bn in May Amid Iran War
UK borrowing reached £23.3bn in May, exceeding forecasts due to Iran war impact. Andy Burnham faces fiscal challenges if he becomes Labour leader.
Fed Holds Rates Steady, Signals Possible Hike This Year
The Federal Reserve kept interest rates unchanged but hinted at a potential rate hike before year-end, causing US stocks to drop. New Chair Kevin Warsh announced a communications overhaul.
Weather Beats World Cup for Tesco Sales Growth
Tesco CEO says weather impacts grocery sales more than World Cup wins. UK sales growth halved due to rainy spring and Middle East conflict, but online sales rose 8.9%.
Australia Boosts Small Business CGT Exemptions
Australia raises CGT exemption for 2.7 million small businesses to $10m turnover threshold, amid criticism of tax reforms. Plus: ebike thefts, World Cup, and Major oak tree dies.
UK Job Vacancies at Five-Year Low Amid Iran War
UK job vacancies fell to the lowest in five years as businesses cut hiring amid rising costs from the Iran war. Unemployment eased to 4.9%, but wage growth stalled.
Drax Cleared After Wood Pellet Sourcing Probe by FCA
The FCA closed its investigation into Drax's sustainability claims, finding no evidence of misleading statements about wood pellet sourcing for the power plant.
Cuba's president calls for urgent economic changes
Miguel Díaz-Canel admits need to overhaul communist model, citing China and Vietnam as possible models, as US oil blockade deepens crisis.
Two-thirds of small firms hike prices repeatedly
New data reveals two-thirds of small businesses have raised prices multiple times, with further increases expected amid persistent cost pressures.
UK Inflation Steady at 2.8%, Easing Iran War Impact Fears
UK inflation remained at 2.8% in May, defying expectations of a rise to 3%, as fuel price hikes failed to spill over into wider economy, easing fears of aggressive rate hikes.
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