Page 25 - Global Economy

India, China to contribute more than half of global growth this year: IMF

IMF added that the central banks across Asia need to stay 'alert' as the core inflation is still high, and the re-opening of China's economy may push inflation up due to higher demand

Russia-Ukraine war brings about structural changes in global trade

Even the western countries will find it difficult to absorb the costs of helping Ukraine fight Russia and rebuild its civilian infrastructure and host millions of refugees

Statsguru: A year later, effects of Russia-Ukraine war on global economy

European and Indian stocks are both higher today than when the conflict began

Year 2023 could witness milder slowdown at the global level, says RBI

The Reserve Bank of India (RBI) has predicted that 2023 would probably be characterised by a milder global slowdown than anticipated earlier, but added that the trajectory remains unpredictable

EU forecasts economic growth for the year, but inflation still painful

The European Union's executive branch has raised its economic growth forecast for the year, saying Europe will narrowly avoid a recession and has already passed its inflation peak as natural gas prices fall from astronomical highs. But the European Commission warned Monday that the high prices plaguing consumers will keep holding back the economy for months to come. Growth for 2023 should reach 0.8 per cent for the 20 EU countries that use the euro currency, the commission said in its winter economic outlook. That is an increase from 0.3 per cent expected in the last outlook from November. For the broader 27-nation bloc, growth was estimated at 0.9 per cent, also up from 0.3 per cent. Getting credit for the improvement was the high level of natural gas storage that has alleviated fears of energy rationing over the winter. European utilities and governments raced to line up new supplies after Russia cut off most natural gas deliveries to Europe amid the war in Ukraine. Prices for .

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