Cinema to contribute $24bn to Saudi economy

The Saudi Arabian Ministry of Culture and Information has estimated the contribution of the cinema sector to its GDP to be over $24 billion (90 billion riyals) after its launch soon. According to the ministry, employment generated by the cinema industry will create a large impact on the economy which will increase the media market […]

Why North Korea’s economy survives sanction after sanction

A lot of US allies aren’t following through on their promises. The Trump administration has sought to rein in North Korea’s nuclear program by passing tougher and tougher sanctions designed to punish its economy. A new study shows why that isn’t working. A whopping 49 countries have violated UN Security Council sanctions imposed on North […]

China’s growth objectives clash with financial stability goal – IMF

China should prioritise financial stability above development goals, as a pursuit of regional growth targets and helping firms avoid heavy job losses had led to a surge in debt, particularly at the local government level, the International Monetary Fund said. Noting a lack of coordination and inadequate systemic risk analysis, in a report released on […]

UK state pensions ranked the worst in the developed world

The British state pension is now worst in the developed world as it has fallen below Mexico and Chile, data shows. An average worker entering the UK workforce today can expect to receive less than a third (29 per cent) of their final working salary as a basic pension income after tax, according to a […]

End in sight for year-long ‘dry spell’ of cashless economy in Zimbabwe

Some Zimbabweans were able to withdraw U.S. dollars from automated teller machines this week for the first time in about a year as hard currency started trickling back into the economy following Robert Mugabe’s ouster as president. Banks, according to Bloomberg’s report, had stopped stocking ATMs about a year ago as a severe cash shortage […]

End of NAFTA to trim 0.55% off Canada’s economy- report

A new report concludes the end of the North American Free Trade Agreement would trim just over half a percentage point from Canada’s economy. It finds that the end of NAFTA would shave 0.55% off Canada’s gross domestic product (GDP), push 25,000-50,000 Canadians from the workforce, and reduce exports by 2.8%. The report comes from […]