Global Economy

The warnings of longer-term trouble come as investors are growing somewhat more hopeful of the Federal Reserve's ability to rein in sky-high inflation without causing a recession

Elizabeth Economy's book offers insights into how China is reshaping global norms and raises the question of whether it can truly coerce nations with its economic power to serve its own interests

Global uncertainty will affect economic growth

Three years since the pandemic started, uncertainties and risks still weigh heavily on the global economy, according to the World Bank

Business Standard brings you the top headlines at this hour

For 2023, global gross domestic product will likely expand by less than 3%, she said. That's in line with the fund's January forecast of 2.9%

"Unless the G7 nations stop bringing attention to issues which have nothing to do with G20, it will be difficult to reach an agreement on the final Leaders Declaration at the end of the year"

India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in FY22

UBS said Wednesday that it's bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse. Ermotti, who was the bank's top executive for nine years and led a turnaround following the 2008 global financial crisis, will take over next Wednesday from CEO Ralph Hamers. Hamers took up the job in November 2020 and will remain at UBS during a transition period to ensure a successful closure of the transaction and a smooth handover, the bank said in a statement. UBS credited Ermotti, who is now chairman of insurer Swiss Re, for having cut its footprint and changing the culture of the bank and it pointed to his experience in bringing big financial institutions together. The hastily arranged, USD 3.25 billion deal for Credit Suisse aimed to stem the upheaval in the global financial system after the collapse of two US banks and jitters about long-running troubles at Credit Suisse led shares

The World Bank is also watching developments in the banking sector, which come as rising interest rates and tightening financial conditions drive up the cost of borrowing for developing countriesworld

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

What's different this time is that global financial stress - which has its genesis in four policy choices made in recent years - is juxtaposed with a more resilient real economy

2023 global growth forecast raised to 2.6% from 2.2% previously; OECD says risks to outlook remain high as interest rates rise

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

That in turn has pushed up rents sharply in most markets, leaving the overall cost of housing much more expensive in just the past few years

Domestically, consumption momentum is clearly fading, and capex could follow suit amid slowing prices, rising cost of capital and slowing consumption and exports, it added

Supply chains across the world are healing up almost as fast as they broke down

Food prices have soared, increasing hunger in the developing world, and forcing governments, businesses and people to adapt to lasting shifts, The Guardian reported

Friday marks the one-year anniversary of the Russia-Ukraine war, have a look at how the conflict that nobody believed would last this long changed the world

RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains. We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth," Das said. This is the first meeting of the ...