Sunday, 2 October, 2022
TopicWorld Economy

Topic: World Economy

Highest rate hike by Bank of England since 1995, country warned of long recession ahead

England’s consumer inflation hit a 40-year high of 9.4% in June, over 4 times the Bank’s 2% target. Putin’s weaponisation of gas supplies will drive inflation even higher, some feared.

Worldwide biodiversity loss may push developing nations into default, says research

A 'partial ecosystems collapse' would increase annual borrowing costs for 26 nations including the US by $53 billion and trigger massive downgrades for India and China.

Indian economy looks like a champ while the world struggles. But wait, don’t celebrate yet

Outlook for India seems better than for most others, but growth forecasts are being tempered while inflation picture has got worse. Production numbers are modest, dip in business mood.

Oil at $100 threatens world economy inflation shock, Ukraine crisis may fuel inflation

Futures in London jumped as much as 3.3% as Russia’s dramatic escalation of the Ukraine crisis sparked fears of a disruption to the region’s critical energy exports.

Ten ways Covid has changed the world economy forever

While the world economy is on the way to recovery, some legacies of Covid will shape global growth for years to come. Here's an overview of some of the transformations under way.

Fears of another global economic downturn rise despite good news on vaccines

As Covid cases rise, nations are imposing fresh restrictions. Economists now say it won’t take much for the US, euro area & Japan to each contract again either this quarter or next.

China’s Covid-19 economic recovery from Covid slump boosts world outlook

The IMF says Chinese growth is virtually the only reason it expects global output to be 0.6% higher by the end of 2021 compared to the end of 2019.

World economy will shrink 4.5% this year, not 6% as feared earlier, OECD says

There were big revisions for the U.S. and the euro area, as well as China, which is now forecast to grow modestly, the only Group of 20 country with such a prospect. 

US’ decoupling from China has begun. Modi govt must work to minimise India’s losses

Modi govt does not appear to recognise that international politics is spiralling towards a ‘soft war’ where all issues are linked to security and political interests.

World economy that took elevator down faces steep stairs back up

President of European Chamber in China, Joerg Wuttke, said the recovery isn't V or W, it's looking like the top of a chainsaw — up and down and painful all the way.

On Camera

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Illustration by Prajna Ghosh | ThePrint

Over 38% inmates in Indian jails are OBCs, 10% increase in a decade, study finds

Religious minorities, specifically Muslims and Sikhs, have been overrepresented among prison inmates for years now, but there have been some shifts in the last decade, NCRB data shows.
A man counts Indian currency notes inside a shop in Mumbai, India | Reuters/Francis Mascarenhas

RBI tells state refiners to reduce dollar buying in spot market, contain sharp fall in rupee

RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.

Defence

Naval Group & IIT Goa signing agreement to extend partnership on 28 September | Twitter @navalgroup

France’s Naval Group, IIT Goa extend R&D deal for underwater surveillance, submarine imaging

Agreement will act as catalyst for improving analysis of data collected by underwater sensors through application of neural systems & AI.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.
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