Page 23 - Global Economy

Covid-19 pandemic: Omicron may slash Q4 global growth by half

According to the latest Bloomberg nowcasts, the global economy is expanding just 0.7 per cent in Q4

Bank of Japan scales back emergency funding as pandemic strains ease

In a widely expected move, the BOJ on Friday maintained its short-term rate target at -0.1% and that for 10-year bond yields around 0%.

Japanese startups attract increasing interest from overseas investors

More than $3 billion was raised in the first six months of 2021 alone

Freight cost hits highest due to Omicron, threatening export companies

As the Omicron variant has slowdown major ports and global supply again, shipping and air freight rates hit record highs.

India working on urgent economic package to aid Sri Lanka: Report

The move follows a recent visit by Sri Lanka's finance minister to India

Collective progress to ensure sustainable inclusive recovery: FM Sitharaman

The finance minister stressed on the importance of enhanced infrastructure investments for enabling a quick and stable return to the growth path.

US dollar edges higher as Omicron restrictions hurt risk sentiment

Investors were also awaiting U.S. inflation data on Friday that could set the tone for the Federal Reserve's strategy on interest rate hikes.

How will the world decide when the coronavirus pandemic is over?

How will the world decide when the pandemic is over? There's no clear-cut definition for when a pandemic starts and ends, and how much of a threat a global outbreak is posing can vary by country

Japan offers 30% tax break to big companies that hike wages by 4%

Its economy contracts 3.6% sequentially in third quarter

Recovering economy not immune to global spillovers: RBI Governor

Reserve Bank's Governor Shaktikanta Das on Wednesday said that India's economy is on the path of recovery.

Japan govt to give massive tax breaks to companies that lift wages

Liberal Democratic Party-led government has piled pressure on cautious Japanese firms to spend their record cash piles to boost wages

Pakistan receives $3 bn loan from Saudi as part of economic support package

The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.

Australia to raise its 2022 growth forecast at mid-year budget review: Govt

"The market is coming back strongly," Treasurer Josh Frydenberg said in an interview on the Australian Broadcast Corporation's "Insiders" programme

Omicron can hit confidence, dent global growth projections: IMF chief

Omicron has spread rapidly to at least 40 countries since it was first reported in South Africa last week, officials say, and many governments have tightened travel rules to try to keep it out

Chinese government may cut its GDP target for 2022 to 5% from 6%

Investors are closely watching for clues on next year's policy and reform agenda

Emerging markets face a 'double whammy' in 2022, Citi says

Emerging markets will face a "double whammy" in 2022, caught between limited growth and reduced risk appetite as a result of monetary tightening, Citi said

'Omicron's impact on emerging economies to depend on curbs, policy support'

"Countries with an assured supply of effective vaccines and delivery systems, and high levels of vaccine acceptance by the public, will remain better positioned," Moody's said.

Worst case scenario: Economists analyse how omicron will impact recovery

The omicron variant is dealing a blow to optimistic hopes that the world economy would enter 2022 on a firmer footing

Hardeep Singh Puri says high oil prices to hurt global economic recovery

He described India alongside the US, Japan and Korea releasing oil stock from its emergency stockpile as a very bold move

Global bull-run in fossil fuels may be peaking out for now, glut seen ahead

Prospects of lower global economic growth amid fresh Covid wave and reduction in bond buying by US Fed weighing on sentiment