Baldev Kumar threw his head back and laughed at the mention of India’s resurgent GDP growth. The country’s economy clocked an 8.4-percent uptick between July and September compared with the same period last year. India’s Home Minister Amit Shah has boasted that the country might emerge as the world’s fastest-growing economy in 2022. Kumar could...Read More
PEORIA, Ill. (WMBD) — A new Illinois law will be going into effect on Jan. 1, 2022 which will increase minimum wage to $15 by 2025. Starting at $12 in 2022, the dollar amount will increase by one dollar each year until 2025, totaling $15. The new minimum wage law states that tipped employees can...Read More
What’s happening: Despite a sluggish start, US retail sales rose 8.5% year-over-year between Nov. 1 and Dec. 24, according to a new report from Mastercard (MA). An uptick in clothing sales, in particular, helped drive the spending surge. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to...Read More
China’s crackdown on private enterprise in 2021 wiped more than $1 trillion off the market value of some of the country’s largest companies. Beijing’s tightening grip on the economy came as officials stressed the importance of prioritising “high-quality” growth that benefits the general population over maximising gross domestic product. The “common prosperity” drive targeted sectors...Read More
CHESTERFIELD COUNTY, Va. — Authorities are asking for the public’s help to identify the man police said held up at Dollar General store in Chesterfield County Sunday morning. Lt. Jessica Sidell with Chesterfield Police said a man walked into the Dollar General on Iron Bridge Place around 9:40 a.m., pulled out a gun and demanded...Read More
The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research. Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers...Read More
The world’s economic output will exceed $100 trillion for the first time next year and it will take China a little longer than previously thought to overtake the United States as the No.1 economy, a report showed on Sunday. British consultancy Cebr predicted China will become the world’s top economy in dollar terms in 2030,...Read More
Throughout the pandemic, local economic developers heard from business leaders that it was critical locally owned, small businesses not only survive, but thrive. In good and bad times, it is more important than ever to support small, local businesses whenever you can, said Marjette Upshur, director of economic development & tourism for Lynchburg. “These are...Read More
ECONOMYNEXT – Chamila*, senior finance manager of an export company whose parent company is beyond Asia, has been under tremendous pressure when his parent company asked him to come up with measures to keep most of the company’s dollar earnings outside Sri Lanka. The request came not because Sri Lanka’s central bank made it mandatory...Read More
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