UK’s Liz Truss promises a future with tax cuts in a speech plagued by protests

Prime Minister Liz Truss is trying to rally MPs around her tax cut policies following political infighting and market turmoil. king jacob | Pa Pictures | fake images LONDON (AP) — British Prime Minister Liz Truss insisted Wednesday that cutting taxes was “the morally and economically right thing to do,” rolling out a series of … Read more

The US begins the fiscal year with a record debt of 31 trillion dollars

WASHINGTON — The nation’s gross national debt has topped $31 trillion, according to a US Treasury report released Tuesday that tracks daily US finances. Approaching the legal ceiling of roughly $31.4 trillion, an artificial limit Congress placed on the US government’s borrowing capacity, the debt figures hit an already fragile economy facing high inflation, rising … Read more

Taiwan says it will use US-led chip alliance to protect local companies | Business and Economy

The deputy economy minister says chipmaking requires collaboration to ensure a “very resilient supply chain.” Taiwan will use the new US-led “Chip 4” group to safeguard Taiwanese business interests and ensure supply chain resilience, a deputy minister said, adding that the group had no agenda yet. A preliminary meeting of the group was held last … Read more

Business leaders say impending recession will be short and sharp: KPMG

In Singapore, nearly 90% of Singaporean CEOs have either embarked on or plan to freeze hiring for the next six months, says KPMG. Roslan Rahmann | Afp | fake images Global CEOs anticipate a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than half … Read more

Is Tesla seeing a slowdown in demand? | Economy and Business News

As recently as July, Tesla CEO Elon Musk said the electric carmaker didn’t have a problem with customer demand, just a problem making and shipping all the Model Ys and Model 3s that consumers were asking for. ready to buy That may no longer be true. Analysts see early signs of caution for the world’s … Read more

Mohammed bin Salman launches “Downtown” to develop Saudi urban centers

Prince Muhammad bin Salman bin Abdulaziz, Crown Prince and Chairman of the Board of Directors of the Saudi Public Investment Fund, yesterday (Monday) launched the “Downtown Saudi Company”, which aims to establish and develop urban centers and multiple and diverse destinations throughout the kingdom. The Saudi hub will launch its projects in 12 cities, namely … Read more

Emirates News Agency – Sharjah Hamriyah Free Zone wins three categories at Best International Free Zones Awards Ceremony

Tuesday, October 4, 2022 – 1:10 PM Sharjah, Oct 4 / WAM / Hamriyah Free Zone won three prestigious international awards during the 9th edition of the awards ceremony of FDI magazine, affiliated with the prestigious Financial Times Pioneering foreign companies and investments. Hamriyah Free Zone won an Excellence in Key Performance Indicators award globally, … Read more

Emirates News Agency – DH437.37 billion of Central Bank’s total foreign assets as of end of last July

Tuesday, October 4, 2022 – 11:18 ABU DHABI, 4th October, 2020 (WAM) — The UAE Central Bank’s total foreign assets increased by 8.2% annually to AED 437.37 billion at the end of last July, compared with AED 404.16 billion. AED in July 2021. The latest statistics from the Central Bank attribute the annual rise in … Read more

A US deputy calls for “revenge” against Saudi Arabia if OPEC cuts its production to support oil prices

New York, USA (CNN) — US Representative Ro Khanna has called on the White House to take “revenge” on Saudi Arabia if OPEC and its allies cut oil production in an attempt to for raising prices. Khanna said in a telephone interview with CNN on Monday: “This is beyond the bounds… They are actively draining … Read more

The latest Tory party conference LIVE: Government seeks to change focus on economy after humiliating U-turn

T The government will try to divert attention from the economy on Tuesday after the humiliation of two u-turns in income tax cuts for top earners and the date of a new tax plan. Keynote speeches to be made at the Conservative conference in Birmingham by Home Secretary Suella Braverman and Foreign Secretary James Cleverly … Read more