Page 19 - Global Economy

US payrolls likely 306,000 lower through march than previously estimated

The number of workers on payrolls will likely be revised down by 306,000 for March of this year, according to the Bureau of Labor Statistics' preliminary benchmark revision projection

Does Brics exist only because a good acronym cannot be allowed to die?

India says it wants clear criteria established for new Brics memberships. But do even the existing members qualify under any meaningful criteria, asks T N Ninan

Dark clouds over global economy

India's exports are uncompetitive due to high infrastructure cost, poor productivity, friction in doing business, vexatious laws, poor governance, and a slow and expensive justice system

Religious leaders can take lead in resolving global issues: Jain leader

Leaders from major world religions and faiths can play a significant role in resolving the major challenges like the Ukraine war currently being faced by humanity and bringing in lasting peace, an eminent Jain religious leader has said and advocated dialogue and diplomacy for resolving disputes. This is the message I am taking to Chicago, Acharya Lokesh Muni told PTI in an interview ahead of the 2023 Parliament of the World's Religions in Chicago from August 14 to 18. The event is being attended by about 10,000 religious leaders from 80 countries. He is one of the few world leaders who have been invited to speak during the plenary session. Time has come for the world leaders to prepare a roadmap for a peaceful and prosperous society and world, he said. Leaders from major world religions and faiths can play a significant role in resolving the major challenges currently being faced by humanity and bringing in lasting peace at a time of war in Ukraine, he said. Asserting that war, ..

IMF seeks explanation from Pakistan for not imposing tax on big shops

Pakistan's Federal Board of Revenue (FBR) chairman confirmed that the IMF sought an explanation for not imposing a tax on big shops

Warning sign for global economy, China's CPI tips into deflation in July

CPI falls in annual terms for first time in 2 years; country becomes first G20 economy to report deflation since Japan in 2021

Pakistan's inflation touches 29.8% amid rise in food, energy prices

Out of these commodities, the price of milk, sugar, and firewood went up; wheat flour and vegetable ghee decreased; whereas prices of long cloth, and electricity remained unchanged

LIVE: 3-member panel to monitor social media, says Haryana Home Minister

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Major global firms warn of slow China sales as post-pandemic surge fades

Caterpillar, global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce

China's manufacturing contracts in July dragging down Asia factories

The Caixin manufacturing purchasing managers index declined to a six-month low of 49.2 in July from 50.5 in June, below the key 50 level that marks a contraction, a private survey showed

Top headlines: India ripe for semiconductor boom, banks' loans, and more

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Evergrande seeks court approval for offshore-debt restructuring plan vote

The hearing involving Evergrande and a unit is scheduled for Monday morning in Hong Kong. The world's most-indebted developer and another unit have similar hearings this week in the Cayman Islands

LIVE: ED registers a fresh case against erstwhile promoter of Jet Airways

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Billions in corporate debt: Wave of bankruptcies threatens global economy

Rising tide of distress is, of course, to certain degree by design. Caught by surprise as inflation surged, monetary policymakers have been aggressively draining cash from the world's financial system

G20 FMs deliberate on risks to global economy, steps to promote green tech

Finance ministers of G20 nations on Monday deliberated on global economy and risks, as well as policy measures for promoting green and low carbon technologies on the opening day of the ministerial conference. The meeting of the G20 finance ministers and central bank governors in the first session deliberated on issues pertaining to global economic outlook, economic risks, and key policy responses to support recovery, the Finance Ministry said in a tweet. International Monetary Fund (IMF) Managing Director Kristalina Georgieva last week in a blog said that the IMF forecast for global growth over the medium term is around 3 per cent -- well below the historical average of 3.8 per cent during 2000-19. She also flagged that economic fragmentation will both undermine growth and make it harder to tackle pressing global challenges, from rising sovereign debt crises to the existential threat of climate change. The G20 finance ministers meeting in the second session deliberated on sustainab

India has been agent of change, not of status quo: Kant on G-20 presidency

With the UN becoming "unwieldy" and "non-functional", the G-20 has emerged as the most responsive body to address key challenges facing the world and New Delhi has not shied away from bringing all major global issues to the "centrestage" during its presidency of the grouping, India's G-20 Sherpa Amitabh Kant said on Monday. He said India has been acting as an "agent of change" in the G-20 and that it is confident of building consensus to address critical developmental issues such as climate financing, debt vulnerabilities, ensuring progress on sustainable development goals and evolving a framework for digital public infrastructure. In an interview to PTI a day after the conclusion of the third G-20 Sherpas' meeting, he said the Russia-Ukraine conflict is restricted to a certain part of the world and the Indian presidency's focus has been entirely on the developmental agenda and to deal with issues facing the Global South. At the same time, Kant noted that the "present geopolitics" i

Mixed picture: IMF sees 'resilience', slowing momentum in global economy

G20 countries also need to tighten fiscal policy to ensure debt sustainability, create fiscal space and to help support disinflation by reducing aggregate demand, the Fund said.

OPEC upbeat over 2024 global oil demand outlook despite headwinds

The report also showed OPEC's oil production rose by 91,000 bpd to 28.19 million bpd in June, led by Iran and Iraq, despite output cuts pledged by OPEC+

IMF sees 'pockets of resilience,' slowing momentum in global economy

Reduced supply chain disruptions and lower goods demand means likely disinflationary pressures from goods, the IMF said

Temasek Holdings Pte posts worst return in 7 years as markets slump

Temasek's Chief Executive Officer Dilhan Pillay highlighted risks ranging from economic decoupling to protectionism and costs tied to energy security and transition