Page 22 - Global Economy

World Bank downgrades 2022 global economic growth forecast to 4.1%

The global economy is on track to grow by 4.1 per cent in 2022, down 0.2 percentage point from a previous projection, the World Bank Group said in its latest Global Economic Prospects release.

Confidence in faster global recovery in short supply: WEF report

Report also says livelihood crises, climate change will dominate global concerns

WTO discusses India's call for holding virtual meet on pandemic response

The WTO's General Council has discussed India's call to convene a virtual ministerial meeting on the World Trade Organisation's response to the COVID-19 pandemic, including the patent waiver proposal. India on December 23, 2021 sent a letter to the General Council Chair to hold a virtual ministerial meeting on the response of WTO (World Trade Organisation) to the pandemic, including the proposal to waive certain provisions of the TRIPS agreement for COVID-19-related vaccines, therapeutics, and diagnostics. On January 10, the General Council Chair Ambassador Dacio Castillo (Honduras) convened a meeting to discuss the World Trade Organisation's response to the COVID-19 pandemic, WTO said in a statement. After the meeting, Castillo said he would continue to hold consultations with members on the Indian proposal, underlining "the urgency and importance of reaching a meaningful outcome." A common WTO response to COVID-19 "remains an urgent priority for the membership," he said. WTO ...

Japan's Nov household spending extends declines in sign of weak sentiment

Household spending fell 1.3% in November from a year earlier, government data showed, much weaker than the market forecast of a 1.6% gain in a Reuters poll.

Global natural gas shortage worsens as India, Indonesia join the hunt

Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders

IMF delays release of new forecast to factor in Covid developments

The International Monetary Fund will release its World Economic Outlook on Jan. 25, a week later than planned, to factor in Covid developments

Why is the IMF trying to be an aid agency?

Forceful conditionality is essential to establish financial stability and ensure that IMF's resources do not end up financing capital flight

Five things to look for in Asia stocks amid 2022 reversal hopes

The case for a rebound should be aided by lower valuations after the MSCI Asia Pacific Index underperformed its global counterpart by around 20 percentage points last year

Dollar ticks higher in thin trading on cautious economic optimism

New claims for U.S. unemployment benefits fell in the week leading up to Christmas and benefits rolls slid to their lowest level of the pandemic era the previous week, data showed

Global stocks retreat from gains as investors reassess Covid look-ahead

MSCI's gauge of stocks across the globe shed 0.15%, while the pan-European STOXX 600 index rose 0.15%.

India seen breaking ranks with peers on unwinding easy monetary policy

Policy makers will stick to their resolve of keeping their stance easy to achieve the growth goal for now, said economists, including Standard Chartered Plc's Anubhuti Sahay

IT, energy stocks boost Indian shares as global risk mood lightens

IT and energy firms drove Indian shares higher, tracking upbeat global risk sentiment in the absence of major domestic triggers

World stock prices gain, oil prices eased on strong US holiday sales

Global stock markets rose on Monday and oil prices eased as investors hailed strong U.S. holiday season sales

Global remittances to rebound as economies recover from Covid impact: ADB

Growth in the money repatriated by migrant workers will slow to 4.2% in 2022 as base effects fade

Gold hovers near 1-week high as Omicron unease offsets firmer dollar

Gold prices reversed course to approach a one-week peak on Monday, as renewed risks to global economic growth from rising cases of Omicron

Rising global Covid cases to impact capital flows, push inflation: Ind-Ra

Rising Covid cases globally have the potential to impact capital flows as well as heighten inflation, said India Ratings and Research (Ind-Ra)

World economy to surpass $100 trn in 2022, India to overtake France: Study

British consultancy Cebr predicted China will become the world's top economy in dollar terms in 2030, two years later than forecast in last year's World Economic League Table report

2021, the year that was for world: A chaotic return to the usual

2021 started on a sour note for the democratic world and it remained under pressure from a dominant communist China

Dollar droops as optimism on economic outlook saps demand for haven assets

The safe-haven dollar languished near an almost one-week low against its major peers as investors adopted a more optimistic stance about the global economic outlook

Oil prices rally on inventory drawdown, casting Omicron caution to the wind

Oil prices rose on Wednesday after a larger-than-expected drawdown in US inventories