Page 36 - Global Economy

Recession certainly a possibility, says Powell; global growth outlook weak

'The central bank was not trying to engineer a recession in the United States to stop inflation but was fully committed to bringing prices under control even if doing so risks an economic downturn'

More than half of global consumers didn't save during pandemic: Survey

Just 13% used them to fund holidays and social events since restrictions lifted, and 19% used the money for home improvements or moving house

China defends 'zero-Covid' policy after US envoy warns of economic costs

We have full confidence that (we can) contain the epidemic, steady the economy and achieve the goal of safe economic development: Foreign Ministry spokesperson Wang Wenbin

US in better position than any other nation to deal with inflation: Biden

At the same time, Biden acknowledged that Americans are "really, really down" on the state of the country

Bank of England boosts interest rate to 13-year high as inflation soars

Policy makers led by Governor Andrew Bailey hinted that they may join a growing global trend for larger hikes if inflation continues to soar

Anti-globalisation to green energy: 5 shifts that will shape world economy

Opportunities will arise as the era of hyperglobalisation and cheap finance fades into the past

India better placed to avoid stagflation risk, says RBI report

Paints an encouraging picture of economic activity gaining strength, with most GDP constituents exceeding their pre-pandemic levels

Investors dump shares on growth fears as Swiss, UK hike lending rates

While Swiss National Bank and UK's central bank increased their lending rates, global shares took a dive as investors began dumping shares based on recession fears.

Oil prices rebound as new Iran sanctions fuel more supply concerns

The market had been lower earlier as interest rate hikes in the United States, Britain and Switzerland fed concerns about a slowdown in global economic growth.

Creative education, health to play big role for future economies: Basu

Speaking at eighth Pravin Visaria Memorial Public Lecture, Basu stated that for countries like India to emerge as a winner going forward, focusing on creative education and health sectors will be key

Rs 15.74 trn of investors' wealth eroded as markets log 5th day of fall

In five trading days, the Sensex has dived 3,824.49 points, or 6.91%

India better placed than many others to avoid stagflation: RBI article

The article noted that global economic conditions continue to deteriorate as ratcheting up of commodity prices and financial market volatility have led to heightened uncertainty

World's central banks got it wrong on inflation and economies pay the price

ECB President Christine Lagarde has lately also turned more hawkish than she previously indicated, and the Reserve Bank of Australia is among those raising rates faster than policy makers had signaled

World's richest have lost $1.4 trillion in 2022 after rapid gains

It's a stark contrast to last year, when soaring markets boosted the world's population of high-net-worth individuals by about 8%, including 13 per cent in North America

Growth optimism sinks to a record low, says Bank of America survey

Global profit expectations also dropped to 2008 levels

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Global PC shipments to fall 8.2% in 2022 due to economic slowdown

The forecast for worldwide tablet shipments has also been lowered to 158 million units, a 6.2 per cent decline compared to 2021, according to a new IDC report

Global server market revenues expected to reach $112 billion in 2022

The global server market's revenue is expected to grow 17 per cent (on-year) to reach $111.7 billion in 2022, according to a new report.

Global investment banking faces tougher times after blockbuster year

Russia's invasion of Ukraine and significant monetary tightening have led to volatile trading in financial markets this year

For Cornwall, the G7 summit 2021 brings mix of disruption and hope

US President Joe Biden and leaders from Canada, France, Germany, Italy and Japan are arriving for three days of talks starting Friday at the tiny village of Carbis Bay, near St Ives in Cornwall