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The Financial Express
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Search results for: global

Canada's natural resources real GDP declines in first quarter

Canada's natural resources real GDP declines in first quarter

-- 2020-06-25 13:51:04

Real gross domestic product (GDP) of Canada's natural resources sector was down 0.4 per cent in the first quarter of 2020, the third consecutive quarterly decline, Statistics Canada said Wednesday. T...

South Africa's debt grows into hippo 'eating our children's inheritance'

South Africa's debt grows into hippo 'eating our children's inheritance'

REUTERS 2020-06-25 10:52:49

South Africa’s budget deficit will be the highest in the post-apartheid era, and the finance minister warned in his emergency budget speech on Wednesday that debt had become a hippo eating their...

India to invest $121.27m more for Shwe oil and gas project in Myanmar

India to invest $121.27m more for Shwe oil and gas project in Myanmar

-- 2020-06-25 10:08:16

The Indian government has approved a proposal for an additional 121.27 million US dollar investment to be made by ONGC Videsh Ltd (OVL) in the development of an oil and gas project in Myanmar. The de...

ADB retains top position in aid transparency index

ADB retains top position in aid transparency index

-- 2020-06-24 22:59:59

The Asian Development Bank (ADB) retained its first place ranking in the 2020 Aid Transparency Index (ATI), an independent measurement of aid transparency released on Wednesday at the Brookings Instit...

Global economy could shrink 4.9pc this year: IMF

Global economy could shrink 4.9pc this year: IMF

FE ONLINE DESK 2020-06-24 21:08:41

The International Monetary Fund has projected that global economy could shrink 4.9 per cent in 2020 due to COVID-19 pandemic, 1.9 percentage points below than its previous forecast. IMF’s World...

Putin proposes differentiated income tax rate

Putin proposes differentiated income tax rate

-- 2020-06-24 14:25:34

Russian President Vladimir Putin has proposed canceling the current flat income tax rate and introducing differentiated tax for richer people with the proceeds to be channeled for the treatment of chi...

Asia Pacific consumers shift rapidly to digital commerce and show no signs of turning back

Asia Pacific consumers shift rapidly to digital commerce and show no signs of turning back

FE Online Desk 2020-06-23 16:47:45

  Consumers in Asia Pacific are rapidly going digital with purchases of everything from groceries to movies in a shift that looks set to become a permanent habit after the pandemic passes, Maste...

US economy to grow more slowly than hoped: Fed official

US economy to grow more slowly than hoped: Fed official

-- 2020-06-23 14:30:12

The US economy is expected to grow more slowly than people had hoped months ago as the country cannot stop the community spread of Covid-19, a senior US Federal Reserve official said on Monday. "Some...

Tourism contributes 12.7pc to Philippine GDP in 2019

Tourism contributes 12.7pc to Philippine GDP in 2019

-- 2020-06-22 16:07:15

The contribution of the tourism industry to the Philippine economy increased to 12.7 per cent in 2019 from 12.3 per cent in 2018, the country's Tourism Secretary Bernadette Romulo-Puyat said on Mond...

Global stocks try to shake off second wave virus fears

Global stocks try to shake off second wave virus fears

REUTERS 2020-06-22 13:20:49

US stock futures recouped losses on Monday but Asian stocks wobbled as investors tried to shake off worries that rising coronavirus cases in the United States could scupper a quick economic rebound....

Covid-19 poses most uncertain health and economic threat: ICCB

Covid-19 poses most uncertain health and economic threat: ICCB

FE Online Desk 2020-06-21 15:04:22

The world is facing a severe and acute public health emergency and economic threat due to the Covid-19 pandemic, which originated in Wuhan Province of China in last December. The World Health Organiza...

IMF likely to deploy emergency financing for 70 countries

IMF likely to deploy emergency financing for 70 countries

-- 2020-06-20 16:16:29

The International Monetary Fund (IMF) has said it is expected to deploy emergency financing for 70 countries by Friday as the Covid-19 pandemic continues to ripple across the globe. IMF spokesperson...

US unemployment rate to remain in double digits by end of year

US unemployment rate to remain in double digits by end of year

-- 2020-06-20 14:16:22

The US unemployment rate will remain in double digits by the end of this year as efforts to contain Covid-19 so far have not been particularly successful in the country, a senior US Federal Reserve...

Global stocks wobble as investors assess risks of second wave

Global stocks wobble as investors assess risks of second wave

REUTERS 2020-06-19 13:17:49

Asian shares and US stock futures teetered in choppy trade on Friday as lingering concerns about a fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. MSCI’s br...

UN chief calls for protection of jobs amid pandemic

UN chief calls for protection of jobs amid pandemic

-- 2020-06-19 12:45:33

United Nations (UN) Secretary-General Antonio Guterres has called for the protection of jobs amid Covid-19. The pandemic has turned the world of work upside down. Every worker, every business, and ev...

ADB projects 0.1pc GDP growth for Asia in 2020

ADB projects 0.1pc GDP growth for Asia in 2020

-- 2020-06-18 11:53:03

Developing Asia will barely grow in 2020 as containment measures to address the Covid-19 pandemic hamper economic activity and weaken external demand, according to an updated Asian Development Bank (A...

British inflation hits four-year low

British inflation hits four-year low

-- 2020-06-17 16:20:59

British inflation fell to its lowest since June 2016 last month as the coronavirus pandemic sucked demand from the global economy and oil prices tumbled. Consumer price inflation slowed to 0.5 per ce...

Global FDI to contract by 40pc this year: UNCTAD

Global FDI to contract by 40pc this year: UNCTAD

-- 2020-06-16 16:25:01

Global foreign direct investment (FDI) flows are forecast to decrease by up to 40 per cent in 2020, and further by 5 to 10 per cent in 2021, before recovering in 2022, said a United Nations report Tue...

South Korea's foreign currency deposit keeps rising for three months

South Korea's foreign currency deposit keeps rising for three months

-- 2020-06-16 13:59:03

South Korea's foreign currency deposit kept rising for three straight months as companies secured the US dollar liquidity on worry about an economic fallout from the coronavirus (COVID-19) outbreak, c...

India's wholesale inflation at -3.21 pc in May

India's wholesale inflation at -3.21 pc in May

-- 2020-06-15 16:16:56

India's wholesale price index (WPI) contracted by 3.21 per cent in May, data released by the federal commerce and industry ministry on Monday said. "The annual rate of inflation, based on monthly WPI...

Indonesia's trade balance back to surplus in May

Indonesia's trade balance back to surplus in May

-- 2020-06-15 14:25:34

Indonesia's trade performance was back to a surplus in May as the plunge of imports exceeded the decline in exports when the novel coronavirus pandemic has depressed demands and weakened economic acti...

Asian stocks, oil fall as second wave fears grow

Asian stocks, oil fall as second wave fears grow

REUTERS 2020-06-15 10:37:57

Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China furth...

India's forex reserves cross $500b for first time

India's forex reserves cross $500b for first time

Xinhua 2020-06-13 19:15:58

India's foreign exchange (Forex) reserves have crossed the 500 billion US dollars mark for the first time, said the central bank - the Reserve Bank of India's (RBI) latest weekly statistical data. Th...

UK economy shrinks 20pc to fall back to 2002 level

UK economy shrinks 20pc to fall back to 2002 level

-- 2020-06-13 19:10:36

The British economy has seen nearly two decades worth of growth wiped out as a result of the lockdown measures put in place during the coronavirus pandemic. The Office for National Statistics of UK s...

IMF's next growth outlook to trend lower

IMF's next growth outlook to trend lower

-- 2020-06-13 17:24:56

The International Monetary Fund expects its next economic forecast to trend lower as the world deals with new pandemic damage and a sluggish recovery. The organisation is slated to release its next g...

Pakistan targets ambitious growth, revenue despite coronavirus struggles

Pakistan targets ambitious growth, revenue despite coronavirus struggles

REUTERS 2020-06-13 13:44:00

Pakistan on Friday announced its annual budget for financial year 2020-21, setting ambitious targets of 2.1 per cent GDP growth, a 7.0 per cent fiscal deficit and an increase in tax revenues, even as...

China's trust industry reports higher revenue growth in Q1

China's trust industry reports higher revenue growth in Q1

-- 2020-06-13 12:03:29

The revenue of China's trust industry maintained rapid growth while its scale continued to fall during the first quarter of the year, according to a report from the China Trustee Association. The cou...

Japan's economy is bottoming out: Finance minister

Japan's economy is bottoming out: Finance minister

REUTERS 2020-06-12 15:14:57

Japan’s economy appears to have hit bottom and is eyeing a recovery from the damage caused by the coronavirus pandemic, its finance minister said, underscoring cautious optimism spreading among...

A month into reopening, no clear turn for US economy or pandemic

A month into reopening, no clear turn for US economy or pandemic

REUTERS 2020-06-12 13:55:19

A month into efforts to broadly reopen the US economy there is little clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress the virus that has killed mo...

Federal Reserve keeps interest rates near zero

Federal Reserve keeps interest rates near zero

-- 2020-06-11 14:10:44

The US Federal Reserve has kept its benchmark interest rate unchanged at the record-low level of near zero amid mounting fallout from the COVID-19-induced recession. The Fed on Wednesday kept the pro...