Page 3 - Economic Slowdown

Buckle up, and keep going, says IMF chief as outlook for world economy dims

Here is a rundown of the key takeaways from the annual meeting of the International Monetary Fund hosted IMF Managing Director Kristalina Georgieva

Sitharaman flags downside risks due to economic slowdown at IMF meet

Nirmala Sitharaman shared concerns on key downside risks to the economy owing to slowdown in growth in major economies during a meeting at the IMF headquarters

India festival spending booms despite inflation worries, global slowdown

Online and offline sales during the Hindu festival period starting in the last week of September and lasting until early November are estimated to cross $27 billion

BofA cuts Nifty target to 17,500, cites rupee depreciation, global slowdown

In August, BofA had revised its Nifty target upwards twice citing reduction in macro uncertainty

India maintained post-pandemic economic growth momentum, says Sitharaman

Nirmala Sitharaman said that India has maintained accelerated growth momentum, after the contraction in 2020, by balancing the immediate needs of the economy with long-term structural reforms

OPEC slashes 2022, 2023 oil demand growth view as economy slows

OPEC cuts 2022 demand growth to 2.64 million bpd from 3.1 mn bpd, but still sees demand topping pre-pandemic level in 2023; OPEC September output rises 146,000 bpd, led by Saudi

When everyone is slowing, India in relatively bright spot than others: IMF

When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday. Just look at the global conjuncture right now, which is the overarching problem, IMF Director of Asia and Pacific Department, Krishna Srinivasan, said, adding that the growth was "slowing across many parts of the world even as inflation is rising". "We expect countries accounting for 1/3 of the global economy to go into a recession this year or the next. And inflation is rampant. So that is the overarching story, Srinivasan told PTI in an interview. Almost every country is slowing. In that context, India is doing better and is in a relative bright spot compared to the other countries in the region, Srinivasan said. The IMF on Tuesday in its World Economic Outlook projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2

India's startup sector sees 80% drop in Q3 funding, slowdown to continue

The funding in Indian startups nosedived a massive 80 per cent (year-on-year) in the third quarter (July-September period) this year, with the late stage funding seeing the biggest fall

Samsung delaying Galaxy Tab S9 Series launch amid economic slowdown: Report

South Korean tech giant Samsung is reportedly delaying the launch of the next-generation Galaxy Tab S9 series due to the recent global economic uncertainty

Tiruppur exporters brace for slowdown, see demand dipping by 40%

Tiruppur contributed around 54.2 per cent of the country's textile exports last fiscal

IT shares extend fall; TCS, Wipro, Infy hit 52-week lows on growth concerns

In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.

S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%

S&P Global Ratings on Monday projected India's economic growth at 7.3 per cent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 per cent till the end of 2022. In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 per cent for the fiscal year 2022-2023 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," it said. Other agencies have cut India's GDP growth forecast amid higher inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth estimate to 7 per cent for the current fiscal from 7.8 per cent pegged earlier. India Ratings & Research too had reduced its projections to 6.9 per cent from 7 per cent earlier. Asian Development Bank has cut the projection to 7 per cent from ...

Global stocks slide for third day on fears of possible global recession

Global stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. London and Frankfurt opened lower. Shanghai, Hong Kong and Seoul declined. Oil prices fell by more than $1 per barrel. Japanese markets were closed for a holiday. Wall Street futures were lower following rate hikes Thursday by central banks in Britain, Switzerland, Turkey and the Philippines. The Fed hiked its key rate on Wednesday for a fifth time this year and indicated more rises were on the way. Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession, Edward Moya of Oanda said in a report. In early trading, the FTSE 100 in London lost 0.6% to 7,127.70 and the DAX in Frankfurt shed 0.3% to 12,490.55. The CAC 40 in Paris was 0.2% lower at 5,905.20. On Wall Street, futures for the benchmark S&P 500 index and Dow Jones

India's GDP likely to grow 7.2-7.4% in FY23, says CEA Nageswaran

Global slowdown positive for India on balance, says CEA

Slowdown in West, on balance, would be positive for India: CEA Nageswaran

'Signs are very encouraging' are for the Indian economy, he says in an interview

Turbulence ahead: A slowdown in global demand is underway

Pricing risks could be next, but monetary conditions can remain tight

Nomura raises India's CAD estimate on fears of slowdown in export

Research house Nomura expects CAD as a share of the gross domestic product to triple this fiscal year, saying that a global economic slowdown will further skew the country's trade imbalances

Economic 'Long Covid': India better, but it's on the same planet as others

In a difficult pandemic-hit period, India may be doing better than almost all other large economies, but the over-arching goal of rapid economic growth just does not show on the map, notes T N Ninan

13.5% growth hides warts

The 13.5% print is lower than consensus estimates, and more so, when compared with the Reserve Bank of India's Q1 forecast of 16.2%

Brent oil climbs above $100 a barrel amid talk about OPEC output cuts

Brent for October settlement reached a three-week high, trading up $1.30, or 1.3%, at $101.52 a barrel by 0850 GMT. U.S. crude was up $1.18, or 1.3%, at $94.92 a barrel.