Economy

Oil giant Saudi Aramco reported Sunday its profits surged to $161 billion last year off higher crude prices, a record result for an energy firm crucial to the kingdom's economy. The firm, known formally as the Saudi Arabian Oil Co., said…
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It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after…
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The United States rushed to seize the assets of Silicon Valley Bank on Friday after it experienced a run on the bank. Silicon Valley, the nation's 16th-largest bank, failed after depositors — mostly technology workers and venture…
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America's employers added a substantial 311,000 jobs in February, fewer than January's huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation. The unemployment rate rose to…
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A global shortage of semiconductor chips in the automotive industry starting in 2020 has motivated many countries to increase their domestic manufacturing. The United States has allocated more than $50 billion to promote semiconductor…
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Federal Reserve Chair Jerome Powell said Tuesday the U.S. economy is advancing at a faster pace than expected, which could prompt central bank policy makers to raise interest rates at a faster pace than originally planned to curb spending…
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Sri Lanka looks set to get a sign-off on a long-awaited $2.9 billion four-year bailout from the International Monetary Fund (IMF) on March 20 after the crisis-hit country secured new financing support from China. The IMF and the island…
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The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome…
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Like many Venezuelans, Carmen Mendoza has learned to get by with a patchwork of different income streams in different currencies - her pension, renting out a property, and roughly $150 per month her two daughters send from Spain. But it…
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When Moheidein Bazazo opened his Beirut mini-market in 1986, during some of the fiercest fighting in Lebanon's civil war, he didn't expect it to thrive. But several years later, he had shelves full of food and needed 12 employees to help…
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