Page 31 - Global Economy

The crises we choose: Global recession, war or energy?

The pandemic has increased the global extreme poverty rate from an estimated 8.4 per cent in 2019 to 9.3 per cent in 2020. But the rich country ecosystem is noticeably silent on this

Oil prices rise on tight supplies, as IEA warns of global recession

The IEA downgraded its oil demand growth estimates slightly for this year to 1.9 million bpd and by 470,000 bpd in 2023 to 1.7 million bpd

Oil prices shaky as worsening global demand outlook depress market

Oil prices struggled to find their footing in early Asian trade after a weakening global demand outlook depressed the market in the last session

50% of world's poorest need debt relief to avert development crisis: UNDP

Fifty-four developing economies accounting for more than half of the world's poorest people need urgent debt relief as a result of cascading global crises, according to the UNDP

Expanding India-US union for knowledge-based economy valuable: Vivek Lall

There is great merit in expanding the partnership between India and the United States towards a knowledge-based economy, a top Indian American corporate leader said on Tuesday, asserting that a successful collaboration would result in a number of joint efforts in matters of mutual interest. With India and US demographics, industrial might, and technological entrepreneurism, the two nations form a natural partnership, Vivek Lall, chief executive of the General Atomics Global Corporation, told students at the Harvard Kennedy School in Cambridge, Massachusetts. University's India Caucus, a student organisation that aims to promote India-centric discourse, had organised an interactive session on defence, innovation, and technology with Lall. He was recently honoured with the Lifetime Achievement Award by US President Joe Biden. Given the shared values of India and the United States, this relationship enjoys strong bipartisan support in both the countries, and there is great merit in ...

Sitharaman in US discusses global macroeconomic situation with Yellen

Union Finance Minister Nirmala Sitharaman on Tuesday in a meeting with her American counterpart Treasury Secretary Janet Yellen discussed a range of issues, including bilateral relationships, the global situation as well as India's upcoming G-20 Presidency. The two leaders discussed the current global macroeconomic situation among other issues of mutual interest, the Finance Ministry said after the meeting. The two ministers also discussed various issues of significance with a view towards India's upcoming G-20 Presidency. Sitharaman during the meeting invited Yellen to India to attend the US-India Economic and Financial Partnership meeting in New Delhi on November 11. This will be her first visit to India as Treasury Secretary. Describing it as a substantive meeting India's Ambassador to the US, Taranjit Singh Sandhu, said: Deepening bilateral economic partnership and cooperation in multilateral forums discussed.

'Hurricane' of risks threatens emerging countries, says G20 chair

Emerging and developing nations face a "hurricane" of risks from rising energy costs and food insecurity, and any resilience some countries may have won't last long, the G20 chair said

A troubled world: IMF paints a bleak picture

The growth projection for India has been lowered to 6.8 per cent for this fiscal year

'Worst is yet to come': IMF's gloomy forecast for global economy in 2023

The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said

IMF cuts Asia's economic growth forecasts, warns of strong dollar strains

The IMF now expects emerging Asian economies to grow 4.4% this year and 4.9% in 2023, down 0.2 percent point and 0.1 point, respectively, from its projections in July, after a 7.2% expansion in 2021

IMF lowers growth outlook for 2023 global economy to 2.7% amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia's war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. The 190-country lending agency forecast Tuesday that the global economy would eke out growth of just 2.7% next year, down from the 2.9% it had estimated in July. The IMF left unchanged its forecast for international growth this year a modest 3.2%, a sharp deceleration from last year's 6% expansion. The bleaker forecast was no surprise. IMF Managing Director Kristalina Georgieva, noting the grim backdrop to this week's fall meetings of the IMF and the World Bank in Washington, warned that the risks of recession are rising'' around the world and that the global economy is facing a period of historic fragility.'' In its latest estimates, the IMF slashed its outlook for growth in the United States to 1.6% this year,

LIVE: Mortal remains of Mulayam Singh Yadav consigned to flames in Saifai

A large sea of people chant 'Netaji amar rahein' as a vehicle carriedthe mortal remains of Samajwadi Party supremo

It's time to strengthen ties with India, says Indonesian business leader

A top Indonesian business and industry expert said a forum like G20 is becoming more and more important during these challenging times to address economic issues faced by developing countries

With 'Soul of India' as key theme; India gets ready for G20 presidency

All government departments are preparing a workforce to host the G20, scheduled to start from December 1, where India's policies and positions on critical issues will be discussed

Govts across globe stoked global inequality since pandemic, finds study

Analysis by the nonprofits Oxfam and Development Finance International found that of the 161 countries surveyed, almost all either froze or lowered taxes on their richest citizens

Oil falls as China demand concerns fuel recession fears

Economic slowdown in China, world's second-largest oil consumer, adds to rising concerns about possible global recession triggered by numerous central banks raising interest rates to combat inflation

Harvard Business Review's 5 ideas that will reshape capitalism's next era

To celebrate its 100th birthday the Harvard Business Review has come out with a fat book containing its most influential and innovative articles

OPEC oil cuts bad for global economy: US Treasury secretary Janet Yellen

Kremlin praises Opec+ for countering US 'mayhem' in global energy markets

World could lose $4 trillion in economic output between now and 2026: IMF

The global economic outlook is darkening and the risks of recession are quickly rising as per the International Monetary Fund, which said it will once again lower its growth projections

Samsung delaying Galaxy Tab S9 Series launch amid economic slowdown: Report

South Korean tech giant Samsung is reportedly delaying the launch of the next-generation Galaxy Tab S9 series due to the recent global economic uncertainty