Page 35 - Global Economy

Global growth fears, Fed reserve rate hike keep US dollar propped up

The dollar wobbled around just below multi-decade peaks on Tuesday, as traders waited on a rate hike from the US Federal Reserve

India to be fastest-growing economy, engine of global growth: Birla

The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said

Five months into the war: Unprecedented sanctions on Russia cut both ways

European leaders have had to give up a reliable source of energy supply, and now they must militarise their economies while being asked to fund Ukraine militarily and economically, writes T N Ninan

Global smartphone shipments fall 9% in second qtr amid economic downturn

Global smartphone shipments fell 9 per cent (year on year) in the second quarter this year as Samsung led with a 21 per cent market share

JPMorgan suspends buybacks, warns on global economy as Q2 profit slumps

JPMorgan Chase & Co reported a bigger-than-expected 28% fall in quarterly profit and suspended share buybacks on Thursday, as America's largest bank set aside more money to cover potential losses

World faces increasing risk of recession in next 12 months, says IMF

The commodity price shock from the war in Ukraine had exacerbated the cost-of-living crisis for hundreds of millions of people, Kristalina Georgieva said and it was 'only getting worse'

The recent correction has removed froth in the broader market: C J George

India will be the fastest growing large economy in the world. Our corporate profit to GDP is on a steady uptrend. Therefore, India will outperform

Almost 4.5 million UK families are under serious financial difficulties

Of those in serious financial difficulty, 71% have reduced the quality of food they eat, 36% have sold or pawned possessions and 27% have canceled or not renewed insurance

Rice production under threat due to higher fertilizer costs, booming demand

China's worried about the crop impact of pests, while India's output depends on a good monsoon

A major recession in developed countries is unlikely: AIIB chief economist

We will have inflation at an elevated level for some time, says AIIB chief economist Erik Berglof

Wall Street says a recession is coming. Consumers say it's already here

Layered on top of the inflation squeeze are the mounting concerns about the outlook for economic growth, not just this year, but into 2023

Euro slumps to two-decade low, oil tumbles as recession fears intensify

The euro sank on Tuesday to its weakest level against the dollar in almost 20 years while oil futures tumbled and bond prices rose as investors sought safety

Many major economies to hit recession in CY23, says Nomura Holdings

The brokerage expects the euro zone, the UK, Japan, South Korea, Australia and Canada to fall into recession along with the US

Asian stocks make tentative start to second half under growth clouds

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, with trade thinned by a holiday in Hong Kong

Asian stocks fall in early trade amid concerns over recession, oil prices

Chinese blue chips which hit a four week high the day before, lost 0.6% while the Hong Kong benchmark fell 1.3%

US dollar, Japanese Yen find support as investors put safety first

The dollar and Japanese yen both found support in a choppy Asia session on Monday, benefiting from a bid for safety as investors worried rising interest rates and softening economic data

Joe Biden, G7 leaders huddle on energy, inflation, Russia-Ukraine war

US President Joe Biden and his Group of Seven allies will huddle on strategies to secure energy supplies and tackle inflation, aiming to keep the fallout from Russia's invasion of Ukraine

How G7 could help the debt-distressed

This small and wealthy group with its outsize power is uniquely positioned to help low-income countries manage deteriorating macroeconomic conditions

War in Europe may snuff out global recovery: RBI Dy Governor Michael Patra

Says monetary policy decisions by central banks around the world aimed at their own constituencies. But since inflation is the biggest policy issue right now, it seemed coordinated

PM Modi urges industry to set up long-term export targets, 'double efforts'

Despite disruptions in the global economy, India's goods and services exports stood at $670 billion and exceeded the $400-billion target for merchandise export alone, he said