Global Economy

The future of international communication

International communication is an integral component of the world economy, and the Internet age has done much to advance social and cultural ties and political goals worldwide.

US economy rebounds with 531,000 jobs added in October

Strong job growth for October shows the American economy on the upswing, with the jobless rate falling to 4.6 percent.

$4 trillion wiped out as stock markets plummet

After year of record highs, global markets tank, erasing $4 trillion in stock value after Dow Jones suffers largest single decline ever.

'Don't Fight the Fed,' Bank of Israel Learns Once Again

The shekel fell when the Bank of Israel slashed interest rates - and rose again, when the Federal Reserve didn't do anything.

Fischer: Eurozone Nations Still in Denial on Fiscal Problems

Numerous nations in Europe are still in denial about the economic crisis they are facing, Bank of Israel Gov. Stanley Fischer says.

Gov't Approves Massive Tax Hikes, Spending Cuts

The government on Monday passed a sweeping measure to tighten Israel's belt at a time when the world is facing another financial crisis.

OECD: 'Pat on the Back and Move On - Crisis Not Over'

OECD Secretary-General Angel Gurria praises Israel on its management of the global fiscal crisis, but warns “it's not over yet.”

Fischer: Global Economy Facing 'Approaching Crisis'

Bank of Israel Governor Stanley Fischer predicted an 'approaching crisis' for world markets at 12th Annual Herzliya Conference.

China Slows Down

Money Tightening, Reduced Demand and Competition Hit China

China's production has contracted, diminishing hopes that China can play the economic locomotive

Europe's Debt Crisis Lingers

Bankers Cut Short Vacations to Address Spanish, Italian Crises

Soaring bond yields and bearing predictions hit Spain and Italy causing European central bankers to scramble.

Sovereign Debt Crisis Menaces Italy As Securities Tumble

Europe's failure to convincingly tackle the problems in the smaller states has now created doubts about the major economies.

Greek Parliament Passes Austerity Budget

Greek Prime Minister George Papandreou soldiers on with the austerity plan despite massive popular discontent.