Stock markets sank Thursday as more central banks hiked interest rates in efforts to tame runaway inflation, actions that raised fears they could spark recessions.One day after the Federal Reserve's (Fed) biggest United States (US) interest-rate hike in nearly 30 years, the Bank of England (BoE) raised borrowing costs to their highest level since the 2009 financial crisis.The BoE jacked up its rate by a quarter-point to 1.25 percent, its fifth straight increase, but it was lower than the

Global equities, oil prices and bitcoin plunged Monday on heightened recession fears triggered by runaway inflation.The dollar, however, gained versus major rivals, benefiting from its status as a haven investment and expectations of aggressive interest-rate hiking from the Federal Reserve (Fed).Bond yields also rose, with 10-year United States (US) Treasuries above 3.3 percent and Italy's 10-year debt breaking four percent for the first time in more than eight years.The US currency stru

Asian markets rose Monday as investors rediscovered some verve after the release of healthy United States (US) data and as China eases some of its strict COVID curbs in Shanghai and Beijing, lifting hopes for the world's number two economy.The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course.Wall Street provided a strong lead and snapped a series of weekly losses, wi

Asian equities were up on Monday after a rally on Wall Street last week, but analysts say fears of a recession due to surging inflation and COVID-driven supply chain woes still have investors worried.World markets have been volatile for much of 2022, fuelled by uncertainty over supply chain snarls due to China's lockdowns, inflation pressures and European anxiety over the Ukraine war.Wall Street stocks closed Friday with a robust rally on tech-rich Nasdaq after a tumultuous week that saw

Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, which rebounded at the close after investors calmed down about United States (US) policies to counter surging inflation.World markets have been volatile for much of 2022 owing to China's COVID-19 lockdowns, Russia's invasion of Ukraine, and as surging inflation weighed on consumer sentiment.The Federal Reserve (Fed) last week had announced its largest rate hike since 2000 and signalled that si

Could the world be headed for another recession?Just as the global economy is bouncing back from the COVID-19 pandemic, a growing list of risks is clouding the economic outlook – although most economists still believe a recession this year is relatively unlikely.The war in Ukraine, Russia sanctions, China’s “zero COVID” policies, spiking inflation, and interest hikes by the United States (US) Federal Reserve (Fed) are all set to crimp growth in 2022.The question is whether deteriorating condi

Indonesia's economy returned to growth last year as surging commodity prices helped drive a recovery from a coronavirus-triggered recession, data showed Monday, though officials warned the outlook depended on how well the fast-spreading Omicron variant is managed.Southeast Asia's biggest economy expanded 3.69 percent on-year, the country's statistics agency said, having contracted in 2020 for the first time since 1998 during the region's financial crisis.The healthy reboun

In April last year, Unyakarn Booprasert, a Thai cleaner, tried to commit suicide in front of the Ministry of Finance’s building with rat poison as a “protest”, as what she was going through “happened to many people.”“I completely ran out of money. I called my friends and relatives. Everyone had no money,” Booprasert explained.

Other than preying on humans, the deadly COVID-19 virus has severely affected livelihoods, local businesses and the economy in general. Major industries such as tourism and hospitality have been hit hard by the pandemic.

In April last year, Unyakarn Booprasert, a Thai cleaner, tried to commit suicide in front of the Ministry of Finance’s building with rat poison as a “protest”, as what she was going through “happened to many people.”“I completely ran out of money. I called my friends and relatives. Everyone had no money,” Booprasert explained.