An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times is returning. The country’s economy grew 5.3 per cent in the first quarter year-on-year, comfortably beating analysts’ expectations of a 4.6 per cent increase and
Sri Lanka on Tuesday rejected international bondholders’ proposal to restructure more than $12 billion in debt, putting at risk critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis. Some of the proposal’s “baseline” as
China’s economy grew faster than expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt. However, several March indicators released al
The US Federal Reserve held its benchmark overnight interest rate steady in the 5.25 per cent-5.50 per cent range at its March 19-20 policy meeting, and officials continued to anticipate approving three quarter-percentage-point rate cuts by the end of 2024. Before policymakers begin to ease borrow
Half of the world’s 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank said in a report on Monday. The differential between per capita income growth in the poorest c
Oil prices fell in early Asian trade after Iran's reprisal attack on Israel over the weekend. Brent crude - a key benchmark for oil prices internationally - was lower but still trading close to $90 a barrel on Monday morning, as per BBC reports. Prices had already risen in expectation of action b
The International Monetary Fund's executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on October 1 this year, the global lender said. "The Board commended Ms. Georgieva's strong and agile leadership
India's retail inflation eased to 4.85 per cent in March, the latest government data has showed. According to the data released by the federal Ministry of Statistics and Program Implementation on Friday, the inflation based on the consumer price index (CPI) in March stood at 4.85 per cent, compare
Britain's tepid economy is on course to exit a shallow recession after output grew for a second month in a row in February, and January's reading was revised higher, official data showed on Friday. Gross domestic product expanded by 0.1 per cent in monthly terms in February, as expected in a Reute
The latest ‘Global Trade Outlook and Statistics’ report of the World Trade Organization (WTO) will be released today in Geneva. A formal press conference will take place at the WTO headquarters in Geneva on Wednesday afternoon in this connection. In the last month, United Nations
India’s consumer price inflation likely eased to a five-month low of 4.91 per cent in March but was still above the Reserve Bank of India’s 4 per cent medium-term target as food price rises persist, according to economists polled by Reuters. RBI Governor Shaktikanta Das said last week
Canada's economy unexpectedly shed a net 2,200 jobs in March, largely in the services sector, while the jobless rate increased to a new 26-month high of 6.1 per cent, data showed on Friday. The weak jobs data spurred money markets to increase their bets for a June rate cut, although they s
World food prices rebounded in March from a three-year low, boosted by increases in vegetable oils, meat and dairy products, according to the United Nations food agency's latest price index. The Food and Agriculture Organization's (FAO) which tracks the most globally traded food commo
