Global Economy

Global economy may be entering a difficult era and economists are worried

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

Global norms with Chinese characteristics

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

Impending slowdown

Global uncertainty will affect economic growth

World Bank, IMF chiefs to discuss complex challenges facing global economy

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

Top headlines: Change in semiconductor scheme, price caps on gas and more

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IMF warns five-year global growth outlook is weakest since 1990

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%

G20: War in Europe did not cause global inflation, says Russian Sherpa

"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"

Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030

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

UBS brings back Sergio Ermotti as CEO with Credit Suisse deal ahead

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

World Bank warns of 'lost decade' in global growth without bold policy

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

How Indian tech cos banded together to help each other during SVB crisis

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

Will the global economy bend or break?

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

OECD hikes global economic growth outlook, but warns recovery fragile

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

External situation worsens as India aims to grow 6-6.8% in FY24

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

Global house prices set to decline, risk of more with higher rates

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

Before economy regains pre-Covid trend line, slowdown may be setting in

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 globally have healed yet their mark on inflation to endure

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

A year after, the global economy changed by Russia Ukraine war: Report

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

War in Ukraine: How one year of conflict changed geopolitics and economics

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

G20 nations must address challenges faced by global economy, says RBI Guv

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 ...