Latest

March quake to drive 2.5% drop in Myanmar GDP, says World Bank
March quake to drive 2.5% drop in Myanmar GDP, says World Bank
Economy
by  AFP

Myanmar's economy is set to shrink 2.5 percent in the 2025/26 financial year, largely as a result of March's devastating magnitude-7.7 earthquake, the World Bank said on Thursday. A World Bank report predicted GDP will contract 2.5 percent in the financial year ending in March 2026 "mostly due to earthquake impacts", with output $2 billion lower than it would have been without the disaster.

UK economy shrinks in April as US tariffs kick in
UK economy shrinks in April as US tariffs kick in
Economy
by  AFP

Britain's economy shrank more than expected in April following a tax hike on UK businesses and a record drop in exports to the United States due to President Donald Trump's tariffs, official data showed Thursday. Exports of British goods to the United States fell by a record £2 billion ($2.7 billion) the same month, the ONS revealed, following the introduction of Trump's tariffs onslaught.