World Economy

African debt crisis may have severe implications for world economy

The continent's foreign debt reached more than $1.1 trillion at the end of last year. More than two dozen countries have excessive debt or are at high risk of it

US weekly jobless claims jump amid seasonal volatility, loose labour market

A loosening labour market and ebbing inflation position the Federal Reserve to cut interest rates in September, with financial markets anticipating additional cuts in November and December

Fed officials at last meeting saw price pressures in decline, minutes show

Data released on June 12 showed the CPI had not risen at all in May on a month-to-month basis

You Need to Calm Down: Why the Taylor Swift economy may not be real

It is hoped Swift, along with Olympics Games in France and Euro 2024 soccer championship in Germany will provide a shot in the arm for continent that has skirted recession for most of the past 2 years

Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation

However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent

Japan's economy shrinks 1.8% in Q1, slightly less than previous forecast

The Japanese economy shrank at an annual rate of 1.8 per cent in the first quarter of this year, slightly better than the initial estimate at a 2.0 per cent contraction, according to revised government data Monday. The revision was due to private sector investments, at minus 0.4 per cent, up from the previous minus 0.5 per cent. Seasonally adjusted real gross domestic product, or GDP, a measure of the value of a nation's products and services, remained in negative territory, as exports and consumption declined from the previous quarter. Quarter-to-quarter, the economy slipped 0.5 per cent in the January-March period, according to the Cabinet Office, unchanged from last month's results. The annual rate measures what would have happened if the quarterly rate lasted a year. Wage growth has been slow, and prices on imports have risen amid a decline in the Japanese yen against the US dollar. The dollar is trading at nearly 157 yen lately, up from about 140 yen a year ago. The weak yen

CCI in process of notifying merger control norms, says Ravneet Kaur

Kaur said that CCI is strengthening its international outreach to exchange best practices and enhance capabilities in a globalised economy

Need to put more capital in hands of private sector: EY India chairperson

Memani talked of stepping up manufacturing and skilling

US Fed keeps key rates unchanged at 5.25%-5.5% for 6th straight meeting

Fed holds rates steady, flags 'lack of further progress' on inflation

The ominous shadow of global debt

The IMF's latest reports warn that piecemeal solutions won't suffice anymore

Global wine demand drops to 27-year low as prices hit record high

The fall in demand last year was particularly big in China, estimated at minus 25%

IMF's Georgieva warns of global economic concerns including inflation, debt

She said countries could help their economies by slashing bureaucratic red tape and getting more women into the job market

Global interest rates chokehold on world economy set to loosen slowly

Geopolitical tension, with conflict between Israel and Iran threatening conflagration in the Middle East, is an additional risk variable

World economy's great escape worries G-20 amid surging geopolitical risks

IMF chief Kristalina Georgieva has signaled that the fund will also slightly raise its forecast, to be released Tuesday, from the current 3.1 per cent

As India's GDP growth speeds up, can it drive the global economy?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions

Upswing in global manufacturing growth could be good news for world economy

Nations that are important nodes in factory supply chains enjoyed an acceleration in March

World Bank lifts India's economic growth forecast for FY25 to 6.6%

Cautions that South Asia Risks "Squandering" Its Demographic Dividend

WTO: Fisheries subsidies are vital for developing countries, says India

With about 9 million people dependent on the sector, India constitutes 25 per cent of the world's fishermen

India on track to be $10 trn economy, set for 3rd largest slot: WEF prez

India is on track to become a USD 10 trillion economy in coming years and grab the third-largest slot soon, World Economic Forum President Borge Brende said on Thursday as he described the country as a place with optimism not seen elsewhere in a very fragmented and polarised world. In an exclusive video interview with PTI, Brende also said that the World Economic Forum (WEF) hopes to come back to the country with the WEF India Summit in collaboration with Government of India when the time is ripe. "The Indian economy is the fastest growing among all large economies of the world. We saw in Davos this year that there was a huge interest in India and I think this will only continue," Brende said. Geneva-based WEF, which describes itself as an international organisation for public-private cooperation, holds its annual meeting in the Swiss ski resort town Davos every year in January. Brende said Indian Prime Minister Narendra Modi is "always very, very welcome to Davos". "When you come

Japan slips to world's 4th-largest economy, behind US, China, and Germany

Japan has slipped to the world's fourth-largest economy as government data released on Thursday showed it fell behind the size of Germany's in 2023. The numbers highlight how the Japanese economy has gradually lost its competitiveness and productivity while the population shrinks as Japanese people age and have fewer children, analysts say. Japan fell from the second-ranked economy behind the US to the third-largest in 2010 as China's economy grew. The International Monetary Fund had forecast Japan's fall to fourth. The comparisons among nations' economies look at nominal GDP, which doesn't reflect some different national conditions, and is in dollar terms. Japan's nominal GDP totalled USD 4.2 trillion last year, or about 591 trillion yen. Germany's, announced last month, was USD 4.4 trillion, or USD 4.5 trillion, depending on the currency conversion. For the latest October-December quarter, the Japanese economy shrank at an annual rate of 0.4 per cent, and minus 0.1 per cent from