Page 24 - Global Economy

Industrial & Logistics sector leasing grew 8% YoY: CBRE South Asia Report

Industrial and Logistics (I&L) sector leasing grew by 8 per cent YoY to touch 31.6 million sq. ft. in 2022 despite global headwinds, and a slowdown in e-commerce demand and dissipation of the post-pandemic need to hold additional inventories, a report said on Monday.

Certainly, uncertainty has declined

Over the past year, global macroeconomic stability has improved, which sets the stage for good growth from 2024

Pak inflation creates new record in Jan, hits highest level after 1975

While mired in a terrible economic crisis, Pakistans inflation created a new record in January and reached the highest level after 1975, mainly due to supply constraints

A balanced Budget against the backdrop of global uncertainties

Tax reliefs are expected to leave more money in the consumers' hands. While the aim is to boost consumption, the extent of the impact remains to be seen

Mexico's economy logs 3% growth in 2022 with push from 3 sectors: Report

The Mexican economy expanded by 3 per cent in 2022, thanks to its three major productive sectors, the National Institute of Statistics and Geography said in a preliminary report

Currencies take a breather as investors await US Fed interest rate decision

After a series of jumbo rate hikes in 2022 to tame inflation, the market is all but certain of a 25 basis points (bps) increase in interest rates later on Wednesday

Portuguese economy sees highest growth in 35 years with 6.7% rise in 2022

The Portuguese economy grew 6.7 per cent in 2022, its best performance since 1987, according to an estimate released by the country's National Institute of Statistics (INE)

Global gold demand grows 18% annually in 2022, highest since 2011: WGC

Global gold demand grew 18 per cent annually to touch 4,741 tonnes in 2022, the highest since 2011, mainly driven by strong quarter four (October-December) demand and hefty central bank-buying, the World Gold Council (WGC) said in a report on Tuesday. The total demand during 2021 was 4,012.8 tonnes, according to WGC's annual 'Gold Demand Trends' report. Annual central bank demand more than doubled to 1,136 tonnes in 2022, up from 450 tonnes in the previous year and to a new 55-year high. Purchases in the fourth quarter last year alone reached 417 tonnes, bringing the total for the second half of 2022 to more than 800 tonnes, the report stated. Investment demand (excluding over the counter) in 2022 was up 10 per cent against the previous year, mainly due to a notable slowdown in exchange-traded fund (ETF) outflows and strong gold bar and coin demand. Gold bars and coins continued to hold favour with investors in several countries, which helped to offset weakness in China. Total ..

India, China likely to drive half of 2023 global growth, says IMF

India forecast remains unchanged for FY24

Guru of globalisation

The Presidency of G20 should be used by India to argue for globalisation and a rules-based global economic order

Major reduction in global poverty rates due to scientific progress: INSA

Indian National Science Academy (INSA) president and the country's chair for the G20 Science-20 Inception Meeting Dr Ashutosh Sharma pointed out that scientific progress has helped in drastically reducing poverty levels across the world over the last few decades. He was speaking after inaugurating the two-day S20 meeting here on Monday at a private convention centre with participation of delegates of G20 countries with representatives of their science academies. The deliberations are part of a series of meetings being held across the country on various themes as part of India's year-long G20 presidency. "India is proud to host this gathering of nations from across the globe that value science and technology as essential elements for global development," Dr Sharma told the gathering. "We must recognise that science has played an integral role in not only our economic growth but also in positive social transformation including providing access to quality healthcare and education ..

Canada's CPPIB invests $205 million in Indian co IndoSpace's new fund

Indian warehouse and parks developer IndoSpace on Monday said the Canada Pension Plan Investment Board (CPPIB) will invest $205 million in the company's new real estate fund

India's 1.4 bn population could become world economy's new growth engine

Bloomberg Economics expects the nation's per capita income to pull even with some developed countries in that span, putting Modi's goal within reach

Worst over for global economy, 'softer recession' likely: RBI governor

There is a need to improve retail access to markets, particularly gilts and derivatives, he says

Oil prices firm for a second session on upbeat US economic data

Oil prices rose for a second session on Friday, buoyed by stronger than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand

Building resilience for the long game

The Budget should focus on keeping the domestic house in order. If it manages to do so, then India could attract large capital inflows once the global shocks fade

Electricity supply restored incrementally in Pak after nationwide outage

Electricity supply was restored incrementally in Pakistan on Tuesday after a nationwide power breakdown left millions of people without electricity amidst fears of default and looming economic meltdown due to a balance of payment crisis in the country. The massive power blackout on Monday was the second such outage in nearly four months. Today, at 5:15 am, the system was completely restored across the country, Energy Minister Khurram Dastgir said. However, major cities, including Karachi, Quetta and Lahore, remained deprived of power, the Dawn newspaper said. Dastgir said that approximately 6,600 megawatts of coal and 3,500MW of nuclear plants would take an estimated 48 to 72 hours to restart. Until these plants start running, there will be limited load management, excluding industrial users, he was quoted as saying by the paper. The minister added that there was no fuel shortage in the country. We are considerate of the electricity bills people have to pay and try not to ...

As world economy looks beyond China, India steps up as a new powerhouse

As powerhouses from China to Germany contend with slowing growth, the stakes are rising to find another nation equipped to propel the global economy

Dollar around seven-month low as growth concerns mount, yen retreats

The US dollar loitered around its seven-month lows on Friday as fears of an economic slowdown dented risk appetite

Global shares trade mostly lower after the year's biggest Wall St retreat

Global shares were mostly lower Thursday as investors grew cautious after Wall Street's biggest pullback of the year