Page 32 - Global Economy

Oil prices edge higher after sell-off driven by demand concerns

Brent crude was up 31 cents, or 0.5 per cent, at $63.59 a barrel by 8:20 pm (IST)

UN body raises global economic growth forecast for 2021 to 4.7%

The report estimates that last year there was a 3.9 per cent drop in output as the spread of the coronavirus sparked lockdowns across the world.

A high-pressure growth gamble

Biden administration's mega-stimulus could set off a tug of war between growth and inflation and a churn in the markets

US stimulus effect to be felt beyond its shores

The package takes pandemic-related spending in the US to over $6 trillion since the start of the crisis.

This year's outlook on services trade uncertain amid Covid-19: WTO

WTO's Services Trade Barometer rose sharply to 104.7 during Oct-Dec 2020, higher than the baseline value of 100 and well above the low of 91.2 seen earlier due to the economic fallout of the pandemic

Inflation is already creeping into some corners of the world economy

Hawks say that pockets of inflation today will turn into across-the-board price increases tomorrow, with stimulus providing the fuel

Central banks face jumpy bond market with 10 days of policy decisions

While policy makers welcome a modest rise in bond yields as a signal of confidence in the economic outlook, they worry an unchecked jump would undercut recoveries

Citigroup needs a new strategy for its lagging Asian consumer banks

Citi has pan-Asian heft, garnering about 30% of its revenue in the region from ASEAN nations

World will move to digital money, but will it be private cryptocurrency?

Sovereign currency issuers will have to think of themselves less as lords and masters and more as service providers in a free market of digital cash

GDP data: From China to Italy, where India stands in global community

India's was not the worst performer among large economies in the world

Asia stocks skid as global inflation fears, tech woes hit Wall Street

Japan's Nikkei 225 was down 1.8 per cent while Hong Kong's Hang Seng index futures lost 1.69 per cent

IMF chief urges G20 action to reverse global economy's dangerous divergence

IMF Managing Director Kristalina Georgieva said "much stronger international collaboration" was needed to accelerate the rollout of Covid-19 vaccines in poorer countries

Sudan's central bank devalues currency to revive struggling economy

This threatens to pile on more hardship in a country whose inflation rate topped 300% in January

World's $281 trillion debt pile set to rise again in 2021, says IIF

In emerging markets, South Africa and India had the biggest increases in government debt ratios last year

Asian shares near all-time peak, oil heads to $60 on economic revival hopes

Japan's Nikkei climbed 0.3% while Australian shares advanced 0.5% led by technology and mining shares

When will the Covid-19 pandemic end? In 7 years at today's vaccine rates

US science officials such as Anthony Fauci have suggested it will take 70 per cent to 85 per cent coverage of the population for things to return to normal

Unequal allocation of vaccines could cost the world economy $9.2 trn

Emerging and developing economies are vulnerable to richer countries hoarding their doses because their fragile health systems are straining under the weight of mounting infections

How China's growing appetite for containers is upending global food trade

The core issue is that China, which recovered faster from Covid, revved up export economy and is paying premiums for containers, making it more profitable to send them back empty than to refill them

Make in America

Joe Biden's executive order raises concerns

Slow vaccine rollout stands to halve world growth: World Bank's Reinhart

The Group of 20's common framework, which aims to get China and private lenders more involved in debt relief, can help poor countries resolve issues faster