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Search results for: global

Debt default: At least dozen countries are in danger zone

Debt default: At least dozen countries are in danger zone

-- 2022-07-17 16:02:49

A record number of developing nations are now in trouble as they show traditional debt crisis signs of crashing currencies, 1,000 basis point bonds spread and burned FX reserves point. Lebanon, Sri L...

Pakistan to get $4b from friendly countries to shore up reserves

Pakistan to get $4b from friendly countries to shore up reserves

REUTERS 2022-07-17 13:14:10

Pakistan is likely to get $4 billion from friendly countries this month to bridge a gap in foreign reserves highlighted by the International Monetary Fund, the country's finance minister said, two d...

Unrealistic energy policies may lead to higher inflation, says Saudi crown prince

Unrealistic energy policies may lead to higher inflation, says Saudi crown prince

-- 2022-07-16 20:23:59

Saudi Arabia's Crown Prince Mohammed bin Salman said on Saturday more investment was needed in fossil fuel and clean energy technologies to meet global demand, and those unrealistic emission policies...

G20 finance chiefs reach ‘consensus’ on food security, remain divided on Ukraine war

G20 finance chiefs reach ‘consensus’ on food security, remain divided on Ukraine war

-- 2022-07-16 17:35:31

The Group of 20 major economies' finance chiefs reached what one called a "strong consensus" on issues including global food security at a two-day meeting in Indonesia but remained divided over Russia...

China's economy brakes sharply in Q2, global risks darken outlook

China's economy brakes sharply in Q2, global risks darken outlook

-- 2022-07-15 17:32:00

China's economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a d...

China economy contracts amid zero-Covid policy

China economy contracts amid zero-Covid policy

BBC 2022-07-15 12:02:40

China's economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6 per cent i...

ADB, Singapore agree to promote investment and innovation across Asia and the Pacific

ADB, Singapore agree to promote investment and innovation across Asia and the Pacific

FE ONLINE REPORT 2022-07-15 11:36:34

Asian Development Bank (ADB) and Singapore have signed an agreement to promote investment and innovation across Asia and the Pacific. ADB President Masatsugu Asakawa and Singapore Deputy Prime Minist...

Gasoline, food drive US consumer prices higher in June

Gasoline, food drive US consumer prices higher in June

-- 2022-07-13 20:34:28

US consumer prices accelerated in June as gasoline and food costs remained elevated, resulting in the largest annual increase in inflation in more than 40 years and cementing the case for the Federal...

ECB faces costly choices due to euro's tumble to parity against dollar

ECB faces costly choices due to euro's tumble to parity against dollar

-- 2022-07-13 19:26:41

The euro's tumble to parity against the dollar has pushed the European Central Bank back against a wall, leaving its policymakers with only painful and economically costly choices. Letting the curren...

South Korea takes aim at inflation with unprecedented half-point rate hike

South Korea takes aim at inflation with unprecedented half-point rate hike

-- 2022-07-13 14:27:19

South Korea's central bank raised its policy interest rate by an unprecedented half point on Wednesday, aiming to pull inflation from 24-year highs while balancing fear of a sharp economic downturn as...

Hong Kong needs to allow free travel to retain financial hub status, report says

Hong Kong needs to allow free travel to retain financial hub status, report says

REUTERS 2022-07-12 15:15:44

Hong Kong needs to allow financial sector workers to travel freely in order to maintain its global investment and banking hub status, an industry report has said, as the city is one of the world&rsquo...

Asian stocks at lowest in two years

Asian stocks at lowest in two years

-- 2022-07-12 12:30:00

Asian shares fell on Tuesday, weighed down by the prospect of further monetary policy tightening by central banks, China's renewed COVID outbreak and Europe’s energy shortage, which also left...

China industry body cuts 2022 auto sales growth forecast to 3.0pc

China industry body cuts 2022 auto sales growth forecast to 3.0pc

-- 2022-07-11 15:26:11

SHANGHAI, July 11 (Reuters): China's automobile industry association downgraded its 2022 sales forecast on Monday as anti-pandemic measures weighed on the economy and its car market, the world's large...

Japan shares rise after election, rest of region declines

Japan shares rise after election, rest of region declines

-- 2022-07-11 13:48:50

TOKYO: Asian shares were mostly lower on Monday, although Japan’s benchmark rallied, welcoming a landslide parliamentary election victory by the ruling Liberal Democratic Party. Concerns about...

Japan's machinery orders fall for first time in three months

Japan's machinery orders fall for first time in three months

-- 2022-07-11 10:29:28

TOKYO, July 11: Japan's core machinery orders slipped for the first time in three months in May, hurting hopes that a pickup in business spending would offset pressure on an economy struggling with su...

IMF hopes for resolution of Sri Lanka crisis to allow bailout talks

IMF hopes for resolution of Sri Lanka crisis to allow bailout talks

-- 2022-07-10 10:10:19

The International Monetary Fund (IMF) said it is hoping for a resolution to Sri Lanka's political turmoil that will allow a resumption of talks for a bailout package after a violent day of protests....

China's June factory inflation cools counter to global trends

China's June factory inflation cools counter to global trends

REUTERS 2022-07-09 16:06:26

China's factory-gate inflation cooled in June to the lowest in 15 months as the country continues to buck the global trend of accelerating prices. The producer price index (PPI) rose 6.1 per cent yea...

Twitter vows legal fight as Musk pulls out of $44 billion deal

Twitter vows legal fight as Musk pulls out of $44 billion deal

-- 2022-07-09 08:51:21

Elon Musk, the chief executive officer of Tesla and the world's richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached mult...

War-driven inflation pushed 71m people into poverty  

War-driven inflation pushed 71m people into poverty  

-- 2022-07-07 17:26:58

A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United...

Sri Lanka central bank raises rates to 21-year high

Sri Lanka central bank raises rates to 21-year high

-- 2022-07-07 13:50:52

The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domestic inflation and to contain any build-up of underlying demand, it said. Th...

Sri Lanka seeks credit support from Russia to import fuel

Sri Lanka seeks credit support from Russia to import fuel

-- 2022-07-06 19:22:57

Sri Lanka's president on Wednesday said he urged Russian leader Vladimir Putin to help his cash-strapped island nation import fuel as it faces its worst economic crisis in seven decades. Short of for...

Bank of England tells lenders to brace for economic storm

Bank of England tells lenders to brace for economic storm

-- 2022-07-06 11:56:02

The Bank of England warned on Tuesday that the economic outlook for Britain and the world had darkened and told banks to ramp up capital buffers to ensure they can weather the storm, reports Reuters....

Global shares mixed as inflation, energy supplies weigh on growth 

Global shares mixed as inflation, energy supplies weigh on growth 

-- 2022-07-05 17:48:15

Shares declined Tuesday in Europe after an upbeat session in Asia, while Wall Street futures slipped ahead of the reopening of US markets from the Independence Day holiday.  Benchmarks also fell...

Ukraine needs $750 billion for recovery plan, prime minister says

Ukraine needs $750 billion for recovery plan, prime minister says

-- 2022-07-05 13:26:41

Ukraine needs $750 billion for a three-stage recovery plan in the wake of Russia's invasion, its prime minister said on Monday. Denys Shmygal also told the Ukraine Recovery Conference hosted by Switz...

Inflation at 24-yr high adds to strains in South Korea's economy

Inflation at 24-yr high adds to strains in South Korea's economy

-- 2022-07-05 11:32:29

South Korea's inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expe...

Indian rupee tumbles to record low against dollar

Indian rupee tumbles to record low against dollar

-- 2022-07-04 20:15:16

India is trying to ‘address volatility’ in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said on Monday, amid concerns of a wid...

Sri Lankans cut number of meals as inflation rate crosses 50pc

Sri Lankans cut number of meals as inflation rate crosses 50pc

-- 2022-07-01 20:32:16

With an out of work husband, housewife Sujeewa Nelum Perera is all too familiar with the struggle of feeding a family of four in Sri Lanka and has been forced to cut down on the number of meals they c...

Martin Raiser appointed vice president of World Bank for South Asia

Martin Raiser appointed vice president of World Bank for South Asia

-- 2022-07-01 15:48:43

The World Bank has appointed Martin Raiser as its vice president for the South Asia Region. He is an economist and development expert with almost two decades of experience at the World Bank Group, A...

Some IMF staff work 'unduly influenced' despite strong safeguards

Some IMF staff work 'unduly influenced' despite strong safeguards

-- 2022-07-01 13:11:21

Nearly 20 per cent of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data int...

US stocks see worst first half drop in more than 50 years

US stocks see worst first half drop in more than 50 years

-- 2022-07-01 12:01:42

US stocks have seen their worst first half of a year since 1970, as concerns grow over how steps to curb inflation will affect economic growth. In the last six months, the benchmark S&amp...