Page 3 - Global Economic Crisis

Unfolding global economic crisis triggered by Western elites, says Putin

The Russian President cited surging inflation in the EU as the most telling example, noting that standards of living in the bloc were being sacrificed to American interests

Biggest ever fall in economic confidence: ACCA and IMA's economy survey

Weak worldwide economic growth looks likely for the rest of 2022, according to the latest edition of the Global Economic Conditions Survey (GECS) from ACCA and IMA

Amid 'extraordinary' uncertainty, IMF doesn't rule out global recession

IMF warns that risk is particularly prominent in 2023, and even small shocks could cause economies to stall

Crypto exchange Blockchain.com cuts 25% of its workforce, halts expansion

Leading cryptocurrency exchange Blockchain.com has laid off 25 per cent of its workforce, nearly 150 employees, amid the global economic meltdown

G20 finance leaders seek consensus to overcome global economic threats

The third G20 Finance Ministers and Central Bank Governors meeting began on Friday in Indonesia's Bali resort island, with the finance leaders seeking ways to tackle global economic threats

Fintech giant Stripe lowers valuation by 28% amid economic meltdown

Leading fintech company Stripe has reportedly taken a huge 28 per cent valuation cut amid tough global macroeconomic conditions that have hit nearly all the sectors very hard as recession fears loom

G20 diplomats to meet today with Russia-Ukraine war, its impact on agenda

Top diplomats from the world's richest and largest developing nations are confronting multiple crises as they open talks beset by sharp divisions over Russia-Ukraine war and its impacts

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

Xi Jinping hosts BRICS meeting amid rising global economic concerns

Xi Jinping is hosting a virtual summit with the leaders of Brazil, Russia, India and South Africa collectively known as the BRICS, amid rising concerns over the global economic outlook

What is a black swan event?

In a Reserve Bank of India paper, the authors allude to the risk of black swan event, saying that it may lead to outflows of Rs 7.8 trillion from India. What are black swan events? We explain it here

IMF planning to send in-person mission to crisis-hit Lanka: spokesperson

The IMF is planning an in-person mission in the coming weeks to Sri Lanka, which is facing a very difficult economic condition, for discussions on a financial arrangement

Sri Lankan govt creates two new ministries to handle economic crisis

Sri Lankan President Gotabaya Rajapaksa has created two new ministries, including an investment ministry, to handle the worst economic crisis in the island nation

Carmakers feel chip crisis easing as global economic growth slows

Mercedes Benz AG, Daimler Truck Holding AG, and BMW AG are among carmakers now getting enough of the high-tech components to produce at full capacity after experiencing crippling outages for months

Davos 2022: Here's how data science can help solve global crises

Global disruptions are growing more complex, taxing the capacities of social impact organizations and governments on the front lines

WEF 2022: Three ways to fix global trade and drive economic recovery

External pressures and shocks have exposed the fragility of international supply chains

Global economy loses $1.6 trn as world struggles to avoid a new Cold War

Russia's invasion of Ukraine and China's Covid Zero lockdowns are disrupting supply chains, hammering growth and pushing inflation to forty-year highs.

Distracting people won't alter facts, India looks lot like Sri Lanka: Rahul

Rahul Gandhi on Wednesday hit out at the government over rising inflation and unemployment and said India looks a "lot like Sri Lanka" and the Centre should not distract people.

India delivers over 400,000 metric tonnes of fuel to Sri Lanka amid crisis

Amid the worst economic crisis in Sri Lanka, India took another initiative to extend support and supplied 12 shipments and over 400,000 Metric Tones (MT) of fuel to the island nation.The High Commission of India in Sri Lanka took to its Twitter handle to make the announcement of the consignment."12 shipments and more than 400,000 MT of fuel!! Latest consignment of #Diesel from #India under the credit line for fuel was delivered in #Colombo by Torm Helvig today," the High Commission of India in Colombo tweeted.Earlier, on Thursday, India extended its support by supplying 65,000 metric tons of urea to the island nation.The Sri Lankan High Commissioner to India, Milinda Moragoda, held a meeting with the Secretary in the Department of Fertilizers of India Rajesh Kumar Chaturvedi where the issue was discussed, reported Daily Mirror."High Commissioner Milinda Moragoda met with the Secretary to the Department of Fertilizers of India Rajesh Kumar Chaturvedi and thanked him for India's ...

UK advises against travel to Sri Lanka amid political instability

The UK has advised its citizens against traveling to Sri Lanka amid the ongoing political and economic instability."The FCDO advises against all but essential travel to #Sri_Lanka, due to ongoing political and economic instability. This advice does not apply to airside transit through Sri Lanka's international airport," the UK Foreign, Commonwealth & Development Office (FCDO) said in a statement."If you are in Sri Lanka at this time, or considering travel, you should avoid all protests and follow the advice of local authorities," it added.This comes as the State of Emergency has been declared and an island-wide curfew is in place. Several incidents took place on May 9 involving violence against protesters, including in the Galle Face area in Colombo, that resulted in the death of several people."There have been a number of protests since 31 March 2022. Further protests are likely to take place across the island. The Government of Sri Lanka may impose local restrictions at short .

Raising policy rates is not anti-national, RBI will have to do it: Rajan

Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing, Rajan said