Page 21 - Global Economy

Global stature, goodwill increased further with PM three-nation tour: BJP

India's global stature as well as goodwill have grown further with Prime Minister Narendra Modi's latest foreign visit and it was a matter of pride for every Indian, the BJP said on Thursday. Earlier in the day, the prime minister returned from his five-day visit to Japan, Australia and Papua New Guinea. He was accorded a warm welcome by the BJP workers and supporters outside the Palam airport here. Addressing a press conference here, senior BJP leader Ravi Shankar Prasad described the prime minister's foreign tour as "successful" and said there were many instances which indicated that "India's stature has increased further" with the three-nation tour. "It is a matter of pride for every Indian and the party especially," he added. Prasad said India was earning a "new goodwill" in the world under the leadership of Prime Minister Modi. "An indication of this came when US President Joe Biden, at the G-7 meeting in Hiroshima, said how the requests for participation in the state dinner

El Nino on the horizon, could wipe out $3 trillion of world economy

El Nino is on , which can lead to severe heat waves and droughts in many countries, including India, new research published in the journal Science has warned

This year's El Nino may be $3-trn setback for global economy by 2029

The paper, by Dartmouth Earth system scientists Christopher Callahan and Justin Mankin and published in the journal Science

Japan's economy expands at annualised real 1.6% in Jan-Mar quarter of 2023

Japan's economy expanded at an annualised real 1.6 per cent in the January-March quarter of 2023, the government said in a report on Wednesday

Important to de-risk global economy in era of volatility, uncertainty: EAM

In the era of volatility and uncertainty, it's important to de-risk the global economy and yet to ensure that there is very responsible growth, External Affairs Minister S Jaishankar has said. His remarks came following the first meeting of the India-EU Trade and Technology Council (TTC) held here on Tuesday. The meeting, co-chaired on the Indian side by Jaishankar, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar, covered key focus areas of strategic technologies, digital governance and green energy technologies. Jaishankar described it as a "very good meeting". "It's been a very strong start. And there is a context to what we are doing. In this era of volatility and uncertainty, it's important to de-risk the global economy and yet to ensure that there is very responsible growth," Jaishankar told the media. "So a lot of what we discussed related to resilient and reliable supply chains, to trust and transparency in th

Risk of prolonged low growth economy looms large globally: UN report

According to the report, the world economy is now projected to grow by 2.3% in 2023 (+0.4 percentage points from the Jan forecast) and 2.5% in 2024 (-0.2 percentage points), a slight uptick

Global economy risks stalling as China, Germany juggernauts slow: Report

The latest data suggest that key parts of the upbeat case for a global pickup aren't working out as hoped

IMF: US default to have 'very serious repercussions' on global economy

Treasury Secretary Janet Yellen has warned that a default on US payments could come as early as June 1 if Congress fails to raise the borrowing cap

Demand for commercial property in India robust, US, Europe struggle

The unabated interest hikes by the Federal Reserve of the United States have resulted in a situation where cheap money is no more available

Q4 earnings, foreign fund trading key triggers for mkts this week: Analysts

The domestic equity markets will be driven by ongoing quarterly earnings announcements and global factors this week, analysts said. Besides, the trading activity of Foreign Portfolio Investors (FPIs) would also be tracked. "In the domestic market, the March 2023 quarterly earnings season and Karnataka assembly elections will be in focus. Asian Paints, Cipla, Eicher Motors, Larsen & Toubro and UPL Q4 earnings are in the pipeline for this week," Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said. The movement of the rupee against the dollar and crude oil prices will also remain in focus, Gour said. "Global markets are in a brittle mode because everyone is eyeing US regional banking systems (small banks), which are in trouble," he added. Also, Apollo Tyres, Indian Overseas Bank and Tata Motors would announce their earnings this week. "This week, participants will be eyeing macroeconomic data viz. IIP and CPI for cues on May 12. Besides, the US inflation, which i

Amid global slowdown, India is the fastest-growing market for LinkedIn

A recent survey conducted by LinkedIn revealed that professionals increasingly prefer skills over degrees

IMF pins hope on India for global economic revival in, says report

International Monetary Fund (IMF) pinned its hopes on India for global economic revival as it continues to remain a relative "bright spot" in the world economy, Asia Lite reported.

Stagflation is the risk that eludes investors mispricing financial markets

That highlights the risk of mispricing in short-term interest rates market, which are pricing in one to two quarter-point rate cuts by the end of this year

There's little downside in Indian equity markets, says Mahesh Patil

While demand has been softening, commodity price deflation, along with cost control measures by corporates, has prevented severe margin contraction, says Mahesh Patil, CIO, Aditya Birla Sun Life AMC

Global economy mired in weak growth, sticky inflation: IMF chief Georgieva

IMF's projection of 2.8% global growth for 2023 "is not enough to bring opportunities to businesses and people around the world, and most worrisome is the projection for weak growth over longer period

Global economic outlook a cause for concern: FM Nirmala Sitharaman

Sitharaman strongly called for timely debt restructuring as the solution to the global debt crisis is closely intertwined with addressing the global poverty challenge

India remains concerned about global economic outlook: FM Sitharaman

India remains concerned about the global economic outlook and geopolitical environment, despite this year's projected growth rate of over six per cent for the country's economy, Union Finance Minister Nirmala Sitharaman has said. She also told global leaders that the current headwinds and strained global supply chains have put a tremendous pressure on the global economy, marked by persistently high interest rates, northbound inflationary pressures and currency depreciation. The recent turbulence in the banking sector in some advanced economies has further increased the challenges to global economic recovery and increased fiscal pressures, especially on EMDEs and LDCs, she said at the 107th meeting of the Development Committee during the annual meeting of the International Monetary Fund (IMF) and the World Bank. Continued disruptions to global supply chains are still straining food, fuel and fertiliser supplies, and endangering food and energy security. This is disproportionately ...

Sustained slowdown

Global economic outlook poses challenges

IMF slashes Pakistan's growth rate to 0.5% for FY23 amid high inflation

The IMF has lowered its forecast for Pakistan's economic growth rate from 2 per cent to just 0.5 per cent for the current fiscal year, amid high inflation and a growing unemployment rate in the cash-strapped country. This showed an unambiguous deterioration of economic fundamentals over the last six months since October when the IMF forecast the country's gross domestic product to grow by 3.5 per cent against 6 per cent for 2022 ago and inflation at 20 per cent against 12.1 per cent. The revision in Pakistan's growth prospects is in line with similar 0.4 per cent and 0.6 per cent projected last week by the World Bank and the Asian Development Bank, respectively. They also projected inflation at 29.5 per cent and 27.5 per cent respectively for the current year, the Dawn newspaper reported on Wednesday. In its flagship World Economic Outlook (WEO), the IMF has also estimated the unemployment rate in Pakistan to rise to 7 per cent against 6.2 per cent last year. For fiscal 2024, ...

World Bank, IMF chiefs to discuss complex challenges facing global economy

Three years since the pandemic started, uncertainties and risks still weigh heavily on the global economy, according to the World Bank