Page 14 - Global Economy

Asian stocks fall in early trade amid concerns over recession, oil prices

Chinese blue chips which hit a four week high the day before, lost 0.6% while the Hong Kong benchmark fell 1.3%

US dollar, Japanese Yen find support as investors put safety first

The dollar and Japanese yen both found support in a choppy Asia session on Monday, benefiting from a bid for safety as investors worried rising interest rates and softening economic data

Joe Biden, G7 leaders huddle on energy, inflation, Russia-Ukraine war

US President Joe Biden and his Group of Seven allies will huddle on strategies to secure energy supplies and tackle inflation, aiming to keep the fallout from Russia's invasion of Ukraine

How G7 could help the debt-distressed

This small and wealthy group with its outsize power is uniquely positioned to help low-income countries manage deteriorating macroeconomic conditions

War in Europe may snuff out global recovery: RBI Dy Governor Michael Patra

Says monetary policy decisions by central banks around the world aimed at their own constituencies. But since inflation is the biggest policy issue right now, it seemed coordinated

PM Modi urges industry to set up long-term export targets, 'double efforts'

Despite disruptions in the global economy, India's goods and services exports stood at $670 billion and exceeded the $400-billion target for merchandise export alone, he said

Recession certainly a possibility, says Powell; global growth outlook weak

'The central bank was not trying to engineer a recession in the United States to stop inflation but was fully committed to bringing prices under control even if doing so risks an economic downturn'

More than half of global consumers didn't save during pandemic: Survey

Just 13% used them to fund holidays and social events since restrictions lifted, and 19% used the money for home improvements or moving house

China defends 'zero-Covid' policy after US envoy warns of economic costs

We have full confidence that (we can) contain the epidemic, steady the economy and achieve the goal of safe economic development: Foreign Ministry spokesperson Wang Wenbin

US in better position than any other nation to deal with inflation: Biden

At the same time, Biden acknowledged that Americans are "really, really down" on the state of the country

Bank of England boosts interest rate to 13-year high as inflation soars

Policy makers led by Governor Andrew Bailey hinted that they may join a growing global trend for larger hikes if inflation continues to soar

Anti-globalisation to green energy: 5 shifts that will shape world economy

Opportunities will arise as the era of hyperglobalisation and cheap finance fades into the past

India better placed to avoid stagflation risk, says RBI report

Paints an encouraging picture of economic activity gaining strength, with most GDP constituents exceeding their pre-pandemic levels

Investors dump shares on growth fears as Swiss, UK hike lending rates

While Swiss National Bank and UK's central bank increased their lending rates, global shares took a dive as investors began dumping shares based on recession fears.

Oil prices rebound as new Iran sanctions fuel more supply concerns

The market had been lower earlier as interest rate hikes in the United States, Britain and Switzerland fed concerns about a slowdown in global economic growth.

Creative education, health to play big role for future economies: Basu

Speaking at eighth Pravin Visaria Memorial Public Lecture, Basu stated that for countries like India to emerge as a winner going forward, focusing on creative education and health sectors will be key

Rs 15.74 trn of investors' wealth eroded as markets log 5th day of fall

In five trading days, the Sensex has dived 3,824.49 points, or 6.91%

India better placed than many others to avoid stagflation: RBI article

The article noted that global economic conditions continue to deteriorate as ratcheting up of commodity prices and financial market volatility have led to heightened uncertainty

World's central banks got it wrong on inflation and economies pay the price

ECB President Christine Lagarde has lately also turned more hawkish than she previously indicated, and the Reserve Bank of Australia is among those raising rates faster than policy makers had signaled

World's richest have lost $1.4 trillion in 2022 after rapid gains

It's a stark contrast to last year, when soaring markets boosted the world's population of high-net-worth individuals by about 8%, including 13 per cent in North America