Page 34 - Global Economy

Global economic turmoil not to impact India's recovery, says Moody's

India's economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation and tightening financial conditions, Moody's Investors Service on Tuesday said, affirming a stable outlook for the country's rating. Moody's saw the Indian economy expanding by 7.6 per cent in the current fiscal compared to 8.7 per cent growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3 per cent GDP growth. It rates India at Baa3, the lowest investment grade rating. In October last year, it revised upwards the rating outlook to stable from negative. "The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt," Moody's said in a note. Principal credit challenges include low per capita income, high general government debt, low debt affordability and limited government ...

Recalibrating policy priorities

As the global storm rages, emerging markets will have to quickly pivot from addressing the pandemic's scars to focusing on the 'twin deficits' to preserve macroeconomic stability

India is likely to become third largest economy by 2029: SBI report

As per the SBI report, India had surpassed the UK as the fifth largest economy as early as December 2021 itself

Oil prices fall 3% on recession fears; China factory data disappoints

Brent crude futures for October, due to expire on Wednesday, were down $3.56 at $95.75 a barrel following Tuesday's $5.78 loss

Water-related disasters to cost world economy $5.6 trn by 2050: Report

This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted water and electricity supply in India, while drought has put farmers' harvests at risk

'Inflation fever' finally breaking but central banks won't stop rate hikes

As economic growth slows, prices for key raw materials - from oil to copper and wheat - have cooled in recent weeks, taking pressure off the cost of manufactured goods and food

FM Sitharaman meets US Deputy Treasury Secretary, discusses global economy

Finance Minister Nirmala Sitharaman on Friday met US Deputy Treasury Secretary Wally Adeyemo and exchanged views on global economic and financial sector issues. "FM Smt. @nsitharaman and Mr @wallyadeyemo discussed India's G20 Presidency in 2023, as well as areas of cooperation for continued and enhanced India-USA partnership," the finance ministry said in a tweet. India will hold the Presidency of the G20 from December 1 to November 30, 2023. India will host the G20 summit next year. G20 is the premier forum for international economic cooperation that plays an important role in global economic governance.

China's recovery wobbles as drought, global slowdown add to risks

China's economy continued to recover in August but warning signs are flashing across a number of fronts as drought and weaker global demand add new risks to growth prospects

Wall Street set for losses as major global economies are sputtering

Wall Street was set to open lower, with S&P 500 futures down 1% and Nasdaq futures down 1.2%

Markets can hit highs only after inflation peaks abroad: Taher Badshah

'The key risk for the market at this juncture, especially after this strong comeback, is the resurgence of the known risks of recent times, namely the rebound of inflation and geopolitical tensions'

Biggest ever fall in economic confidence: ACCA and IMA's economy survey

Weak worldwide economic growth looks likely for the rest of 2022, according to the latest edition of the Global Economic Conditions Survey (GECS) from ACCA and IMA

Macroeconomic factors unlikely to stall tech modernisation: Mindtree CEO

Macroeconomic and geopolitical developments are unlikely to turn back or stall business-critical technology modernisation, IT services firm Mindtree's CEO Debashis Chatterjee has said

Inflation, labour shortages to delay recovery in business travel spending

A recovery in global business travel spending to pre-pandemic levels is likely to be delayed by 18 months to 2026, a new industry forecast shows

Secret to enduring stagflation sends investors to emerging markets

Stocks and bonds of poorer nations have sunk this year amid Federal Reserve tightening and runaway consumer prices, and may sell off even more if the global economy stalls

US stock markets tumble when hit by global recession, says report

The S&P500 had dropped to 3,667 on June 17 but has jumped 15 per cent in the past two months

Macroeconomic challenges revisited

Policies are moving in the right direction, but vulnerabilities remain

'Most vulnerable' emerging markets now face euro recession risk

Traders are more bearish on the Hungarian forint, Polish zloty and Czech koruna than any other developing-nation currency except for Russia's ruble and the Turkish lira

The case for rate hikes heading for contested territory as recession looms

A parade of Federal Reserve officials in recent days has sought to emphasize this message - though a slump isn't their forecast

Ripples from Pelosi's Taiwan trip may take time to impact global markets

Nancy Pelosi's visit is fanning fresh jitters among investors already spooked by the threat of a global slowdown amid surging inflation

Responding to global stagflation

Against an increasingly stagflationary global backdrop, domestic policy will have to judiciously assign different policy instruments to help achieve competing macro objectives