Economy / Global

Pressure grows on China for big policy moves to fix economy

Pressure grows on China for big policy moves to fix economy

As the annual meeting of China's parliament approaches next month, its leaders are facing the greatest pressure in almost a decade to take bold policy decisions that safeguard the economy's long-term growth potential. The start of the year saw Chinese stocks tumbling to five-year lows on growth co


India approves 100pc foreign direct investment in space sector

India approves 100pc foreign direct investment in space sector

India approved an amendment to allow 100pc foreign direct investment (FDI) in the space sector in a move aimed at promoting investment, according to a government notification on Wednesday, reports Reuters.  The FDI policy reform is expected to boost employment and will allow companies to set

German economy in stormy waters as government slashes forecast

German economy in stormy waters as government slashes forecast

The German government expects the economy to grow 0.2 per cent this year, far less than a previously forecast 1.3 per cent, as weak global demand, geopolitical uncertainty and persistently high inflation dent hopes for a swift rebound.   The revised forecast was approved by the cabinet on We

Gaza war hits Israeli economy with 19.4pc Q4 drop

Gaza war hits Israeli economy with 19.4pc Q4 drop

Israelis sharply curtailed spending, travelling, and investing at the end of 2023 as Israel's all-out war on Palestinian Hamas militants in Gaza exacted a heavy toll on the economy, data released on Monday showed.   The war had stopped economic growth in its tracks, especially with a massive

Germany likely in recession, Bundesbank says

Germany likely in recession, Bundesbank says

Germany is likely in recession now as external demand is weak, consumers remain cautious and domestic investment is held back by high borrowing costs, the Bundesbank said in a regular monthly report on Monday about Europe's biggest economy.   Germany has struggled since Russia's 2022 invasio

UK economy falls into recession

UK economy falls into recession

Britain’s economy fell into a recession in the second half of 2023, a tough backdrop ahead of this year’s expected election for Prime Minister Rishi Sunak who has promised to boost growth. Gross domestic product (GDP) contracted by 0.3 per cent in the three months to December, having s

Germany now world's third-biggest economy

Germany now world's third-biggest economy

Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world's third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its decade-long ultra-loose monetary policy.Some analysts are warning of another contraction in th

Swiss franc falls to 9-week low vs dollar after Swiss CPI

Swiss franc falls to 9-week low vs dollar after Swiss CPI

The Swiss franc fell to a nine-week low against the dollar on Tuesday, after Swiss consumer price inflation slowed by more than forecast in January.   Swiss consumer prices rose 1.3% from a year ago in January, down from 1.7% in December and below the 1.7% forecast from economists polled by

Over 20pc Nepali living below poverty line: Report

Over 20pc Nepali living below poverty line: Report

More than 20 per cent of Nepal's population was living below the poverty line, although the South Asian country had brought down the poverty rate in the last 12 years, the government said on Monday. The fourth Nepal living standards survey 2022-23 report released by the National Statistics Office