Page 3 - World Economy

PM Modi calls for reform of multilateral institutions at World Govt Summit

Modi said India has brought in its own reforms based on the mantra of 'Minimum Government, Maximum Governance' and that governments should interfere as little as possible in the lives of people

Likely surge in prices due to Red Sea attacks, says finance ministry report

Geopolitics may weigh on 'remarkable' export show

Threats and opportunities

Policy should prepare to deal with AI

Davos 2024: Global alliance calls for inclusive access to advanced AI tech

World Economic Forum's AI Governance Alliance on Thursday said a global effort is needed to create equitable access to advanced artificial intelligence. Artificial intelligence holds the potential to address global challenges, but it also poses risks of widening existing digital divides or creating new ones, the alliance said at the WEF Annual Meeting here. It also released a series of three new reports on advanced AI focussing on generative AI governance, unlocking its value and a framework for responsible AI development and deployment. The alliance brings together governments, businesses and experts to shape responsible AI development applications and governance, and to ensure equitable distribution and enhanced access to this path-departing technology worldwide. "The AI Governance Alliance is uniquely positioned to play a crucial role in furthering greater access to AI-related resources, thereby contributing to a more equitable and responsible AI ecosystem globally," said Cathy

Here's a pessimist's guide to economic risks in 2024 and what can go right

What could possibly go wrong? After years marked by war, pandemic and bank collapse, it hardly needs saying: a lot. That includes-but is not limited to-the following

56% of chief economists expect global economy to weaken in 2024: WEF report

The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative AI

Global economic slowdown headed for worst phase in three decades: WEF study

Global economic growth is estimated to fall to its lowest rate in three decades by 2030 amid the ongoing economic and geopolitical shocks, a new report said on Monday. Releasing the Future of Growth Report 2024 here ahead of its annual meeting of world leaders, the World Economic Forum (WEF) said this downturn is exacerbating a range of interconnected global challenges, including the climate crisis and a weakening social contract, which are collectively reversing progress in global development. The report called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed, and quality together. Analysing the quality of growth across 107 economies, it found that high-income economies score high on innovation and inclusion, while lower-income economies on sustainability. "Reigniting global growth will be essential to addressing key challenges, yet growth alone is not enough," WEF Managing Director Saadia Zahidi said. "The .

5 ways to increase cyber resilience against increasingly diverse threats

All signs are that 2024 will be another challenging year, but by shifting practices and pursuing cooperation and best practice sharing, progress can be made

Central banks worldwide to ease monetary policy in coming year: Report

After racing ahead with the most aggressive tightening campaign in decades during 2022, 2023, central banks around the world poised to begin easing monetary policy as inflation continues to retreat

India's exports resilient to global demand and exchange rates: CEA

According to the advisor, India's foreign trade has 'boomed' due to reforms that happened over the past few decades

Different outlook

Western central banks are planning differently for 2024

Don't rush to join Fed pivot: IMF chief Georgieva to central banks

She indicated that her advice applied to the case of the Bank of Korea, after she met with Governor Rhee Chang-yong

Wall Street traders go all-in on great monetary pivot of this year

"This is a massive paradigm shift on Wall Street, with the most aggressive rate-hiking cycle in decades coming to an end," said Adam Sarhan, founder of 50 Park Investments

No changes to China credit rating, economic outlook: S&P Global Ratings

We last affirmed our A+ long term ratings on China in June with stable outlook and there has been no changes to that yet," said S&P in an emailed response to queries from Reuters

World economy will slow in 2024 because of inflation, high rates, war: OECD

The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an expected 2.9% pace this year. That would amount to the slowest calendar-year growth since the pandemic year of 2020. A key factor is that the OECD expects the world's two biggest economies, the United States and China, to decelerate next year. The US economy is forecast to expand just 1.5% in 2024, from 2.4% in 2023, as the Federal Reserve's interest rate increases 11 of them since March 2022 continue to restrain growth. The Fed's higher rates have made borrowing far more expensive for consumers and businesses and, in the process, have helped slow inflation from its four-decade peak in 2022. The OECD foresees U.S. inflation dropping from 3.9% this

India emerges as the least sensitive to a slowdown in China, shows data

Charts a distinct course in the face of global headwinds, while others tethered to China's gusts

'Sexualised' workplace: FDIC boss grilled after harassment revelations

Gruenberg said the review would look into conduct across the agency and he hoped the study would be completed within 90 days

US inflation slows sharply in October, core pressures ease to 2-year low

In the 12 months through October, the CPI climbed 3.2 per cent after rising 3.7 per cent in September

As US dollar fades, emerging currencies poised for recovery in 2024: Report

After getting battered for most of 2023, emerging market (EM) currencies have made modest gains against the dollar after the Federal Reserve held interest rates steady last week.

Statsguru: Six charts explain challenges for India's 'Vision 2047'

A number of hurdles will have to be overcome to meet these ambitious targets. One of the challenges will be to maintain growth at 9 per cent, required to reach $30 trillion over a 25-year period