Page 22 - Global Economy

Top headlines: Change in semiconductor scheme, price caps on gas and more

Business Standard brings you the top headlines at this hour

IMF warns five-year global growth outlook is weakest since 1990

For 2023, global gross domestic product will likely expand by less than 3%, she said. That's in line with the fund's January forecast of 2.9%

Impending slowdown

Global uncertainty will affect economic growth

G20: War in Europe did not cause global inflation, says Russian Sherpa

"Unless the G7 nations stop bringing attention to issues which have nothing to do with G20, it will be difficult to reach an agreement on the final Leaders Declaration at the end of the year"

Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030

India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in FY22

UBS brings back Sergio Ermotti as CEO with Credit Suisse deal ahead

UBS said Wednesday that it's bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse. Ermotti, who was the bank's top executive for nine years and led a turnaround following the 2008 global financial crisis, will take over next Wednesday from CEO Ralph Hamers. Hamers took up the job in November 2020 and will remain at UBS during a transition period to ensure a successful closure of the transaction and a smooth handover, the bank said in a statement. UBS credited Ermotti, who is now chairman of insurer Swiss Re, for having cut its footprint and changing the culture of the bank and it pointed to his experience in bringing big financial institutions together. The hastily arranged, USD 3.25 billion deal for Credit Suisse aimed to stem the upheaval in the global financial system after the collapse of two US banks and jitters about long-running troubles at Credit Suisse led shares

World Bank warns of 'lost decade' in global growth without bold policy

The World Bank is also watching developments in the banking sector, which come as rising interest rates and tightening financial conditions drive up the cost of borrowing for developing countriesworld

How Indian tech cos banded together to help each other during SVB crisis

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

Will the global economy bend or break?

What's different this time is that global financial stress - which has its genesis in four policy choices made in recent years - is juxtaposed with a more resilient real economy

OECD hikes global economic growth outlook, but warns recovery fragile

2023 global growth forecast raised to 2.6% from 2.2% previously; OECD says risks to outlook remain high as interest rates rise

External situation worsens as India aims to grow 6-6.8% in FY24

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

Global house prices set to decline, risk of more with higher rates

That in turn has pushed up rents sharply in most markets, leaving the overall cost of housing much more expensive in just the past few years

Before economy regains pre-Covid trend line, slowdown may be setting in

Domestically, consumption momentum is clearly fading, and capex could follow suit amid slowing prices, rising cost of capital and slowing consumption and exports, it added

Supply chains globally have healed yet their mark on inflation to endure

Supply chains across the world are healing up almost as fast as they broke down

A year after, the global economy changed by Russia Ukraine war: Report

Food prices have soared, increasing hunger in the developing world, and forcing governments, businesses and people to adapt to lasting shifts, The Guardian reported

War in Ukraine: How one year of conflict changed geopolitics and economics

Friday marks the one-year anniversary of the Russia-Ukraine war, have a look at how the conflict that nobody believed would last this long changed the world

G20 nations must address challenges faced by global economy, says RBI Guv

RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains. We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth," Das said. This is the first meeting of the ...

G20 leaders to gauge toll on global economy on Ukraine war's anniversary

U.S. Treasury Secretary Janet Yellen on Thursday highlighted the improvement, saying the global economy "is in a better place today than many predicted just a few months ago"

Two-thirds of Indian CEOs expect positive global economic outlook: Report

Nearly two-thirds of Indian companies' CEOs expect a steady or positive global economic outlook over the next three to five years, despite present challenges and sombre macroeconomic projections for 2023, according to a research report released on Thursday. The research by strategy and management consulting firm Arthur D Little also highlighted that the CEOs who are keen on growth despite the crisis as half (of them) believe they will expand into new regions, while 30 per cent anticipate growing faster than the overall market. As many as 250 CEOs of businesses with annual sales of at least USD 1 billion were interviewed for the firm's 2023 CEO Insights research, of which 33 per cent of the Indian CEOs surveyed had an optimistic view about the economic outlook over the next 3-5 years, quite above the global average of 22 per cent, as per the report. These include 21 CEOs of the Indian companies, according to the research organisation. The research report shows that CEOs of the large

Global researchers to decode new heart health using Apple Watch, says Apple

Apple has armed global researchers with Apple Watch devices to help explore new frontiers in heart health, the company said on Wednesday