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Search results for: global

Environment risks dominate in ‘polycrisis’ world: WEF survey

Environment risks dominate in ‘polycrisis’ world: WEF survey

-- 2023-01-11 18:44:18

Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk specialists fo...

WB lowers sees India growth forecast to 6.6pc in FY24

WB lowers sees India growth forecast to 6.6pc in FY24

-- 2023-01-11 15:56:04

India's economic growth will slow to 6.6 per cent in the next fiscal year from an expected 6.9 per cent in the current year, the World Bank said in its latest economic update. "The slowdown in the gl...

Global economy could easily tip into recession in 2023: World Bank

Global economy could easily tip into recession in 2023: World Bank

-- 2023-01-10 21:39:46

The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukrai...

Microsoft in talks to invest $10b in ChatGPT owner

Microsoft in talks to invest $10b in ChatGPT owner

REUTERS 2023-01-10 13:32:29

Microsoft Corp is in talks to invest $10 billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29 billion, Semafor reported on Monday, citing people familia...

China central bank to support private firms, ease tech crackdown

China central bank to support private firms, ease tech crackdown

FE ONLINE DESK 2023-01-10 12:03:56

China's central bank will step up support for private firms as part of steps to shore up the economy, while easing a crackdown on tech companies, Guo Shuqing, Communist party chief of the People...

Goldman Sachs to start cutting thousands of jobs midweek

Goldman Sachs to start cutting thousands of jobs midweek

REUTERS 2023-01-09 10:45:24

Goldman Sachs Group will start cutting thousands of jobs across the firm from Wednesday, two sources familiar with the move said, as it prepares for a tough economic environment in the year ahead...

Shares of Ant-linked firms rise after news of Jack Ma ceding control; Alibaba jumps

Shares of Ant-linked firms rise after news of Jack Ma ceding control; Alibaba jumps

FE ONLINE DESK 2023-01-09 09:52:54

Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overha...

Argentina and China formalise currency swap deal

Argentina and China formalise currency swap deal

FE ONLINE DESK 2023-01-09 09:50:32

Argentina and China have formalised the expansion of a currency swap deal, allowing the South American country to increase its depleted foreign currency reserves, the Argentine central bank said on Su...

Pakistan's finance minister to meet IMF in Geneva, with bailout stalled

Pakistan's finance minister to meet IMF in Geneva, with bailout stalled

FE ONLINE DESK 2023-01-08 14:17:20

An International Monetary Fund (IMF) delegation will meet Pakistan's finance minister on the sidelines of a conference in Geneva beginning on Jan 9, a spokesperson of the lender said on Sunday,...

India to host virtual summit of about 120 developing countries in January

India to host virtual summit of about 120 developing countries in January

FE ONLINE DESK 2023-01-07 15:17:18

India will host a virtual summit of around 120 developing countries next week, its foreign minister said on Friday, as the country looks to bolster international cooperation during i...

How strained China-Australia relations hit trade in coal, barley, beef and wine

How strained China-Australia relations hit trade in coal, barley, beef and wine

FE ONLINE DESK 2023-01-07 12:49:56

China is resuming coal trade with Australia after a three-year halt following strained relations between the two countries over wider issues, Re...

Jack Ma to relinquish control of Ant Group

Jack Ma to relinquish control of Ant Group

-- 2023-01-07 10:28:18

Ant Group's founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of adjustments that will see him give up most of his voting righ...

Indian economic growth to slow to 7.0pc

Indian economic growth to slow to 7.0pc

-- 2023-01-06 21:06:43

India's government expects economic growth to slow in the financial year ending March, as pandemic-related distortions ease and pent-up demand for goods levels out going into 2023. Gross domestic pro...

Europe's inflation slows but cost of living still high

Europe's inflation slows but cost of living still high

-- 2023-01-06 19:22:50

Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consu...

‘Reducing inflation top priority for South Asia’

‘Reducing inflation top priority for South Asia’

-- 2023-01-06 17:48:31

Taming inflation is the top priority for South Asian countries as risks to growth and investment outlook could rise if price pressures persist at high levels, Reserve Bank of India (RBI) Governor Shak...

Japan's real wages fall at fastest pace in over eight years in November

Japan's real wages fall at fastest pace in over eight years in November

-- 2023-01-06 12:53:03

Japan reported on Friday its worst real-wage decline in more than eight years, with November data highlighting the elusiveness of the central bank's objective of reinforcing inflation and the economy...

Sri Lanka to restart trade deal talks with India, China, Thailand

Sri Lanka to restart trade deal talks with India, China, Thailand

-- 2023-01-05 17:15:35

Sri Lanka will restart negotiations on trade pacts witha India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebu...

Ukraine's economy falls 30.4pc in 2022

Ukraine's economy falls 30.4pc in 2022

-- 2023-01-05 14:51:33

Ukraine's gross domestic product fell by 30.4 per cent in 2022 - the largest annual fall in over 30 years - because of the war with Russia, Economy Minister Yulia Svyrydenko said on Thursday...

Samsung's quarterly profit set to hit 6-year low

Samsung's quarterly profit set to hit 6-year low

-- 2023-01-05 13:21:50

Samsung Electronics Co Ltd's quarterly profit will likely plunge 58 per cent to its lowest in six years as a global economic downturn saps demand for electronic devices and clouds the outlook for...

Amazon CEO says job cuts to exceed 18,000 roles

Amazon CEO says job cuts to exceed 18,000 roles

-- 2023-01-05 10:12:12

Amazon.com layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednes...

Apple’s stock market value shrinks sharply, falls below $2.0 trillion

Apple’s stock market value shrinks sharply, falls below $2.0 trillion

-- 2023-01-04 20:43:28

Apple Inc’s stock market value shrank sharply on Tuesday following its steep drop last year, leaving it below $2.0 trillion for the first time since March 2021. The sell-off came a year after t...

Brazil's Petrobras CEO resigns

Brazil's Petrobras CEO resigns

-- 2023-01-04 13:09:19

The chief executive of Brazilian oil company Petrobras, Caio Paes de Andrade, has informed the board of directors of his resignation, two sources with knowledge of the matter told Reuters on Tuesday....

Pakistan's inflation jumps to 24.5pc in December

Pakistan's inflation jumps to 24.5pc in December

-- 2023-01-03 18:32:04

Pakistan's consumer price index (CPI), a main gauge of inflation, rose 24.5 per cent in December as compared to the same month a year ago when it was recorded at 12.28 per cent, Pakistan Bureau of Sta...

Sri Lanka registered 0.7m int'l tourists in 2022

Sri Lanka registered 0.7m int'l tourists in 2022

-- 2023-01-03 17:50:25

Sri Lanka's tourism ended the year 2022 on a positive note, as the arrivals of international visitors to the country topped the 700,000 mark despite the economic and political crisis, local media repo...

Asia shares weigh China risks, yen hits 6-month high

Asia shares weigh China risks, yen hits 6-month high

REUTERS 2023-01-03 12:28:20

Asian shares recovered from early losses on Tuesday as investors weighed the near-term costs of the coronavirus infections in China against the longer-term benefits of a complete reopening of the worl...

UK announces cash support for low-income households

UK announces cash support for low-income households

-- 2023-01-03 09:57:18

Millions of low-income households in Britain will receive cost-of-living support from the government of up to 900 pounds ($1,084) over the financial year, the country's Department of Work and Pensions...

Syria weakens official exchange rate

Syria weakens official exchange rate

-- 2023-01-02 17:44:26

Syria weakened its official exchange rate to 4,522 Syrian pounds to the dollar, a central bank statement said on Monday, while black market rates used for most economic activity sat around 6,500. The...

India's Supreme Court upholds legality of 2016 demonetisation

India's Supreme Court upholds legality of 2016 demonetisation

-- 2023-01-02 15:27:26

India's Supreme Court on Monday upheld the legality of the government decision in 2016 to demonetise 86 per cent of the country's cash in circulation, saying the decision was taken in consultation wit...

India's factories ended 2022 on a strong note

India's factories ended 2022 on a strong note

-- 2023-01-02 14:55:52

India's manufacturing industry ended 2022 on a solid footing as business conditions improved at the fastest rate in over two years while growth in new orders and output accelerated, a business survey...

Britain opens nuclear fuel fund with aim to cut reliance on Russia

Britain opens nuclear fuel fund with aim to cut reliance on Russia

-- 2023-01-02 14:27:08

Britain said on Monday its 75-million-pound ($90.5 million) fund aimed at helping boost domestic production of nuclear fuel for power plants and cutting reliance on Russian uranium supplies was now op...