Economics

The LAC AI Accelerator is a program promoted by the World Bank that aims to foster the development and implementation of artificial intelligence use cases across Latin America and the Caribbean countries

Come summer, and water becomes a commodity as precious as gold in India. The World Bank is engaged in different aspects of water resource management and the supply of drinking water and sanitation services across the country.

With major developments collapsing, pressure is growing on councils to concede on affordable housing and public amenitiesDonald Trump has done his best to crush the green shoots of the global, post-pandemic economic recovery – nowhere more so than in the UK.The US president’s vandalism can be seen across the economic landscape, especially in the property sector, which has become more sensitive to international events since the spread of Covid-19 disrupted long-established supply chains and sent the cost of raw materials soaring. Continue reading...

Conflict has not only hit sporting calendar but laid bare weakness in plans for diversifying economies through sportMiddle East crisis – live updatesThe sight of Nasser al-Khelaifi grounded in Doha when Paris Saint Germain hosted Chelsea in the last-16 of the Champions League last week provided a symbolic illustration of the fragility of the Gulf’s sports project amid the conflict in the Middle East.Al-Khelaifi is the president of PSG, the chair of Qatar Sports Investments and, most crucially, the European Football Clubs, a lobby group that, along with Uefa, runs the Champions League. He is seen as the second-most powerful individual in world football, after the Fifa president, Gianni In..

International Energy Agency recommends emergency measures, including working from home, as Iran war hits fuel supplyLowering speed limits to minimise fuel consumption is among potential contingency plans being drawn up by the UK government as the crisis in the Middle East threatens global oil supplies.Sources stressed that there is no shortage of fuel in the UK, but said that officials in the Department for Transport were working with the Department for Energy Security and Net Zero (DESNZ) on an analysis of what measures could be taken to curb oil demand. Continue reading...

Money markets predict three quarter-point rises in UK interest rates this year, due to inflation shock from higher oil and gas pricesHousehold energy bills in Great Britain ‘could rise to almost £2,000 a year’ amid Iran war shockThis morning’s surprise jump in UK borrowing to over £14bn in February means a renewed focus on whether the government has the fiscal space for a new cost-of-living support package, if energy prices remain high.Thomas Pugh, chief economist at audit, tax and consulting firm RSM UK has said the jump “highlights the precarious fiscal position the UK is in”, warning that the Iran war will put further strain on the public finances.“While widespread governmen..

This blog is now closedSeverin Carrell is the Guardian’s Scotland editor.Malcolm Offord, Reform UK’s Scottish leader, has doubled down on his defence of the party’s vetting by dismissing remarks by candidates backing Tommy Robinson or describing Humza Yousaf as an “Islamist moron” (see 10.12am) as “fruity language”.It has taken a matter of hours for Reform Scotland’s big launch to fall apart and their true colours to show.If Nigel Farage refuses to act and remove this candidate, Malcolm Offord must step up and show some leadership himself. This incident has confirmed once and for all how poisonous and chaotic Reform is and I have no doubt that Scots will send them packing.Aga..

Deficit rises unexpectedly to £14.3bn in February as stock markets slide amid fears that Iran war will escalateBusiness live – latest updatesUK government borrowing costs have reached their highest level since 2008, while financial markets now expect up to three interest rate rises this year as investors digest the impact of the Iran conflict.The yield, or interest rate, on 10-year borrowing was pushed to heights not seen since the global financial crisis, as investors dumped UK government bonds. Continue reading...

Devolution of tax powers to mayors, scrapping of national insurance and property tax overhaul on report’s menu Cabinet ministers have been studying a blueprint for Labour to radically overhaul its economic offer and messaging, including devolving tax powers, abolishing national insurance, and major property tax changes.Passed around dozens of MPs, the paper argues that without a major rethink, the failure to tackle the discontent on the cost of living will hand the next election to a hard-right government. There is also increasing concern that the war with Iran – pushing up prices of fuel, energy, food and mortgages – will fuel further mass public anger. Continue reading...

Insurers at Lloyd’s of London say cover is available at a price, while merchants view the danger level as too highShipping risk has been insured by Lloyd’s of London for more than 330 years, but now the centuries-old heart of maritime insurance is getting to grips with the most modern of threats – drones and missiles threatening hundreds of vessels stuck in the Gulf region amid the escalating Middle East conflict.For nearly three weeks the crucial strait of Hormuz has effectively been closed to the more than 100 gas and oil tankers and container ships that usually pass through each day. Continue reading...

As other Asian economies race to conserve energy, China has huge reserves of oil and gas as well as alternative energy sources like wind and solarMiddle East crisis – live updatesXi Jinping has been preparing for a crisis like this for years. China must secure its energy supply “in its own hands”, its president was reported to have said during a visit to one of its vast oilfields in 2021.The US-Israel war on Iran plunged the Middle East into a deep conflict, with the strait of Hormuz – one of the most important waterways in global trade – all but closed and key energy facilities across the region under attack. Continue reading...

Christopher J. Waller, a Federal Reserve governor, said he would support rate cuts later this year if the labor market continued to weaken.

Across the Caribbean, tourism, agriculture, and fisheries shape the rhythm of economic life. They support millions of livelihoods in the region. Tourism alone sustains more than 2.75 million jobs. Agriculture and fisheries provide employment for roughly 3 percent of the population and remain critical for food security, rural incomes, and coastal economies.

How the CASA‑1000 transmission line in the Kyrgyz Republic and Tajikistan paired regional energy trade with community‑driven benefit sharing to deliver local development, jobs, and social cohesion along the corridor.

The project will help create quality jobs, expand access to reliable electricity and support the Amazon in attracting investment and securing its share of the growing global clean energy economy.

The package will support a broad set of policy reforms to close persistent infrastructure gaps, promote the state’s digital transformation, and position Bahia at the forefront of Brazil's energy transition, boosting direct and indirect job creation.

The outlook for world trade in 2026 will be shaped by two powerful and opposite forces. On the one hand, the extraordinary momentum of investment in artificial intelligence (AI) continues to energize global demand for high-tech goods and digitally delivered services. On the other hand, the conflict in the Middle East – and the resulting spike in energy and transport costs – could weigh heavily on world trade and output.

Iran war and its impact on energy and fertiliser costs is the main risk to the global economy, report saysBusiness live – latest updatesAn extended period of high oil prices as a result of war in the Middle East could “crimp” the AI boom, the World Trade Organization’s chief economist has warned.The war and its impact on energy and fertiliser costs is the main risk to the global economy identified in the WTO’s latest Global Trade Outlook. Continue reading...

Decision to hold interest rates is backed by gloomy assessment of economy as Iran war pushes up oil pricesBank of England holds interest rates at 3.75%Business live – latest updatesThe US-Israel attack on Iran has already driven prices higher and not just at the petrol pumps, the Bank of England said on Thursday in a gloomy assessment of the UK’s economic outlook.An inflation rate that was on track to fall from 3% to the Bank’s 2% target in the coming months is now expected to rise to 3.5%. That is one probable impact of the US and Israel’s war on Iran. Continue reading...

UK central bank has left rates on hold, and warned that CPI inflation will be higher in the near term as a result of the ‘new shock to the economy’ from Iran warBank of England holds interest rates at 3.75% and signals rise is possible within monthsWhy are mortgage rates going up when the Bank of England base rate hasn’t changed?Middle East crisis live: Trump threatens to ‘blow up’ entire South Pars gasfield if Iran strikes QatarEuropean stock markets have dropped sharply at the start of trading, hit by worries about surging energy prices.In London, the FTSE 100 blue-chip share index has tumbled by 162 points, or 1.6%, to 10,142 points.“Fears of a sustained energy shock have resu..

Attacks on facilities by both sides in the conflict this week threaten grave consequences for the global economyMiddle East crisis – live updatesThe escalating attacks on key oil and gas projects in the Middle East are expected to fuel a new phase of the ongoing conflict, with profound consequences for the world’s energy supplies and the global economy.The Iran regime has vowed to target a string of key energy infrastructure across the region after warning that an Israeli strike on a production facility for its largest gasfield at South Pars on Wednesday had ignited a “full-scale economic war”. Continue reading...

Decision comes as concerns mount over economic fallout from Iran war bringing inflation shockAnalysis: BoE delivers message Britons don’t want to hearBusiness live – latest updatesThe Bank of England has kept interest rates on hold and signalled it could be forced to increase borrowing costs in the coming months as the US-Israel war on Iran threatens to drive inflation in the UK above 3%.The Bank’s rate-setting monetary policy committee (MPC) voted unanimously to keep its base rate at 3.75% amid growing concern over the surge in energy prices triggered by the conflict. Continue reading...

Unemployment holds steady, but Bank of England is unlikely to be convinced by ONS data to cut interest rates Business live – latest updatesWage growth slowed sharply in the three months to January, according to the latest snapshot of the jobs market from the Office for National Statistics.Average earnings growth fell to 3.8% in the three months to January, down from 4.2% – a larger fall than forecast by City economists. It was the slowest rate of wage growth in more than five years. Continue reading...

US president says ‘extremely important and valuable’ site will be targeted if Iran continues to attack Qatar facilitiesMiddle East crisis – live updatesDonald Trump threatened to “massively blow up” the world’s largest gasfield after Israeli strikes on the Iranian site prompted Tehran to step up attacks on energy facilities across the Middle East.Israel’s decision to target the South Pars gasfield on Wednesday marked a major escalation of the war, heightening fears of significant disruption to international energy supplies. Continue reading...

Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.

The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.

Traders now expect Europe’s central bankers to raise rates this year to address a sharp increase in inflation because of higher energy prices.

WASHINGTON, March 18, 2026 — The World Bank’s Board of Executive Directors today approved a €18 million loan to Montenegro to support more sustainable forest management, reduce the risk of wildfires, and help businesses in the wood processing sector grow, innovate, and create jobs.

Report shows how electric mobility can spur jobs, growth, and economic transformation in developing countries, with insights from 40 nations and policy guidance.

New World Bank Group report reveals that rebalancing water use across the global food system is key to meeting future food demand sustainably and could generate 245 million long-term jobs, largely in Sub-Saharan Africa