Markets are in turmoil after the US Federal Reserve raised rates, singeing equity markets amid signs the global economy is stumbling. The dollar’s surge, stoked by rising bond yields, saw currencies plummet — the pound is at its weakest in 37 years, the euro hasn’t been this worse off in two decades and the Japanese … Read more
Morgan Stanley forecasts this year’s global economic growth to be less than half of 2021 due to risks from the Russia-Ukraine conflict and COVID-19 surge in China even as central banks tighten monetary policy to control record high inflation. The brokerage expects global growth to be at 2.9%, about 40 basis points below consensus, compared … Read more
The fastest inflation in decades and the resulting rush by central banks to raise interest rates are stoking recession fears in financial markets — worries that are being compounded by the impact of aggressive coronavirus lockdowns in China and the war in Ukraine. In the last week alone, the the U.S. and U.K. logged inflation … Read more
For central bankers wrestling with the question of whether inflationary pressures are transitory, industry chiefs around the world have a clear message: prices are only going higher. Shortages of workers, fuel, cargo ships, semiconductors and building materials as the global economy bounces back after pandemic lockdowns have companies from electric car makers to chocolatiers scrambling … Read more
The Covid-induced global lockdowns in 2020 ignited supply chain disruptions, which, in turn, paved the way for a great loss of global demand. Consequently, oil prices plummeted significantly to levels last seen in 2002, and indices of Commodity Research Bureau (CRB), Baltic Dry, London Metal Exchange and S&P GSCI tumbled to multi-year lows. This plunge … Read more
WASHINGTON: The global economy is starting 2021 in a better position than had been expected in 2020, but surging COVID-19 cases and new strains of the virus are clouding the outlook and making for a “dark winter,” the International Monetary Fund’s chief economist said on Tuesday. “What is true as of now is that we’re … Read more
Mumbai: The global economic recovery is set to be back in 2021 as the world would manage to contain Covid 19 pandemic a Pacific Economic Cooperation Council (PECC) report said. Report by PECC, a network of member committees composed of individuals and institutions dedicated to promoting cooperation across the Asia Pacific region, said that the … Read more
WASHINGTON: Gita Gopinath, chief economist of the International Monetary Fund (IMF), has urged policymakers to provide more fiscal stimulus to boost the recovery from the Covid-19 pandemic as the global economy is in a liquidity trap. “For the first time, in 60 per cent of the global economy — including 97 per cent of advanced … Read more
By Saket MisraPrime Minister Narendra Modi’s initiatives usually display two aspects. One, a simple ‘anchor idea’ to drive broader transformation. Two, the scale of transformation. Atmanirbhar Bharat (AB), announced in the middle of the Covid-induced economic lockdown, is no different. Interpretations by overexuberant supporters or opponents — with visions of a return to the failed … Read more
The campaign’s goal of raising $1 million was achieved in just 9 days which confirms that the community was eager and looking for ways to give back. (Reuters photo) By Ashish Shah and Rajesh Mehta There is nothing we can say that has not been said before about the enormous impact that this pandemic has … Read more