Page 59 - Economy

US hopes to start trade talks under IPEF to fuel economic activity

Last month, India joined 13 other countries to establish the IPEF, led by the US to counter China's growing clout in the Indo-Pacific region

German central bank lowers GDP growth forecast for 2022 to 1.9% from 4.2%

The Deutsche Bundesbank, Germany's central bank, lowered its growth forecast for the country's GDP to 1.9 per cent in 2022 from its previous projection of 4.2 per cent growth in December last year

With earnings risk, valuations aren't really compelling: Edelweiss Fin head

In a Q&A, Aditya Narain says India's valuations have come off but are still more expensive than other markets. Also, downward pressure on earnings makes the environment uncertain

Will good monsoons enable RBI go slow on rate hikes this year?

RBI expects the inflation-inflicted pain to last for three more quarters as it raised the repo rate. However, the forecast of normal monsoon may take pressure off the RBI as it will cool off inflation

There is far less support for climate policies in rich nations: CEA

Govts of developed countries have a far bigger challenge convincing their public to accept climate change mitigation policies and change their own personal behaviour to make those policies work: CEA

BoB to benefit from govt thrust on infra spending: Chairman Hasmukh Adhia

The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments," he said.

Pakistan's IMF programme depends on govt ability to make fiscal adjustments

The restoration of Pakistan's delayed International Monetary Fund (IMF) programme depends on the government's capacity to make a fiscal adjustment of about 2.5 per cent of the GDP.

World Bank to provide financial assistance to Lanka for fertiliser supplies

The World Bank has agreed to provide the necessary financial assistance to debt-ridden Sri Lanka to obtain urea fertiliser for the upcoming Maha season in the country, according to a media report.

Jamie Dimon says JPMorgan is bracing itself for economic 'hurricane'

Dimon said Wednesday that JPMorgan is preparing for that turbulence by being conservative with its balance sheet

Nepal govt reduces threshold for foreign investments by 60% to 20 mn NPR

The minimum threshold for foreign direct investment (FDI) will be brought down to 20 million NPR ($160,760) from the existing 50 million NPR

Economists see limited impact of oil prices on India's GDP growth in Q4

Projections by economists range widely, from 2.7% to 5.5%, but most, however, agree that the economy was on a steady footing in Q4FY22

Pakistan bans import of non-essential luxury items to stabilise economy

The Pakistani government has imposed a complete ban on the import of more than three dozen non-essential luxury items as part of an emergency economic plan to stabilise the national economy.

New Zealand government forecasts narrower budget deficit for FY22

Heavy spending was targeted towards infrastructure, including new schools, and defence, while funds were also allocated to ease the impact of global inflation on New Zealanders

Japan's trade gap widens as import costs surge on supply pressures

The mixed data on Thursday followed the yen's falls to two-decade-lows against the dollar earlier this month, which stoked fears of worsening terms of trade

Japan's economy contracts in first quarter as energy prices soar

Japan's economy shrank at a worse than expected annual rate of 1 per cent in the first quarter, as rising prices and Covid restrictions sapped spending and investment, according to data released

Russia forecasts 7.8% GDP contraction in 2022; unemployment rate at 6.7%

The Russian Ministry of Economic Development said that it expected the country's gross domestic product (GDP) to decease by 7.8 per cent year on year in 2022.

France's CPI increases by 4.8% yearly in April on acceleration of service

The prices of transport services accelerated due to airfares and transport by road prices, according to INSEE

4.8 million jobs lost in Ukraine since start of conflict: ILO study

If the fighting was to cease immediately a rapid recovery would be possible, with the return of 3.4 million jobs, Xinhua news agency reported

Structural weakness of Pakistani economy driving away investors: Report

The long-standing structural weakness of Pakistan's economy, aggravated by the global challenges of the Covid-19 pandemic and the Ukraine-Russia war, is scaring away the investors in the country

Govt agency expects Nepal's economy to grow by 5.84% in current FY22

Amid the pandemic, Nepal's economy contracted by 2.37 per cent in 2019-20, and grew by 4.25 per cent in 2020-21, according to official figures