Global Economy

  • Cyber crime costs global economy $445 billion a year: Report June 9, 2014

    London: Cyber crime costs the global economy about $445 billion every year, with the damage to business from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking, according to research published on Monday. The report from the Centre for Strategic and International Studies (CSIS) said cyber...
  • The Global Economy: Will the Craziness Stop in 2014? January 17, 2014

    The year 2013 saw two anniversaries: The 50th anniversary of the assassination of President John F Kennedy and the 5th anniversary of the global financial crisis (GFC) and the collapse of Lehman Brothers. Both events continue to cause controversy. Theories about the presidential killing are still debated. There are still...
  • Global economy to grow in 2014: World Bank February 11, 2014

    The global economy is estimated to expand at 3.2 per cent this year from 2.4 per cent in 2013, with growth picking up in developing countries and highincome economies, the World Bank said. But growth prospects remain vulnerable to US tapering, the global lender said in its semiannual Global Economic Prospects...
  • Global study: World not ready for aging population October 1, 2013

    The world is aging so fast that most countries are not prepared to support their swelling numbers of elderly people, according to a global study being issued Tuesday by the United Nations and an elder rights group. The report ranks the social and economic wellbeing of elders in 91 countries, with...
  • Next 18 months tough for global economy: World Bank chief economist August 20, 2013

    New Delhi: All eyes are on the markets after Friday's meltdown. It remains to be seen whether the Sensex will rebound on Monday after its worst fall in four years. World Bank chief economist Kaushik Basu has warned that the next year and a half will be tough for India and...
  • No threat in China rivalry for Africa business, says Obama June 30, 2013

    Pretoria: The United States does not feel threatened by the growth of trade and investment in Africa by China and other emerging powers, US President Barack Obama said on Saturday. Suggestions that he has allowed China to steal a march over the United States in doing business with Africa have...
  • China's foreign debt rises to $765 bn June 29, 2013

    Beijing: China's outstanding foreign debt hit $764.97 billion by the end of March, up from about $737 billion at the end of 2012, the country's forex regulator said on Friday. The country's outstanding long and mediumterm foreign debt stood at about $199 billion, up from about $197.06 billion at the end...
  • United States: Coca-Cola to cut 750 jobs March 22, 2013

    New York: Coca-Cola says it's cutting 750 jobs in the US as it continues to streamline its business. The world's biggest beverage maker says the jobs cuts will be across the board and that affected individuals will be notified in coming weeks. The cuts represent roughly 1 per cent of the...
  • US: Dow Jones soars to an all-time high March 6, 2013

    New York: About an hour after the Dow Jones industrial average hit a record high on Tuesday, Overland Park, Kansas-based financial adviser Brad Stratton got an e-mail from a client asking how she could "make hay while the sun shines." Stratton, a former Merrill Lynch broker who set up his...
  • India's growth decline no cause for worry: Chidambaram October 8, 2012

    New Delhi: Even though Indian economy's growth declined to 6.5 per cent in 2011-12 and further to 5.5 per cent in the first quarter of this fiscal, it is no cause for undue worry, Finance Minister P Chidambaram said on Monday. "These are challenging times for global economy. They are...
  • Global economy in worst shape since 2009 July 23, 2012

    Washington: The global economy is in the worst shape since the dark days of 2009. Six of the 17 countries that use the euro currency are in recession. The US economy is struggling again. And the economic superstars of the developing world - China, India and Brazil - are in no...
  • Little Q1 growth seen for TCS, Infosys July 12, 2012

    Bangalore: Uncertainty about spending by US and European clients in a weak global economy will likely weigh on the earnings of Indian outsourcers, dampening hopes that demand will pick up in the second half of the year. India's $100 billion-a-year information technology and back-office outsourcing industry earns about three-quarters of its...
  • Infosys likely to pare revenue growth forecast July 9, 2012

    Bangalore: Uncertainty about spending by US and European clients in a weak global economy will likely weigh on the earnings of Indian outsourcers, dampening hopes that demand will pick up in the second half of the year. India's $100 billion-a-year information technology and back-office outsourcing industry earns about three-quarters of its...
  • Credit boom stokes risks in emerging markets: BIS June 24, 2012

    London: Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements (BIS) warned on Sunday. Such a boom-and-bust cycle might have severe global repercussions, not least due to the increased weight of emerging...
  • Rupee hits 5-month low, falls below 54 per $ May 16, 2012

    Mumbai: The rupee fell below 54/$ on Wednesday after risk assets continued to be beaten down on worries about the future of the euro zone after Greece failed to form a government. The rupee was at 54.10-54.11/$ in early trade versus its Tuesday close of 53.79. That left it in sight...
  • Opinion: while politicians fight, India keeps growing March 29, 2012

    "It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief, it was the epoch of incredulity; it was the season of Light, it was the season of Darkness; it was...
  • 'Women have a major role in global economy' March 23, 2012

    Mumbai: South African Deputy Minister of Trade & Industry Elizabeth Thabethe, who is currently on a visit to India said in Mumbai on Friday that women had a major role to play in the global economy. "Women empowerment is an issue very close to my heart. Women now have a major...
  • IMF chief Christine Lagarde to visit India March 9, 2012

    Washington: Christine Lagarde, the chief of International Monetary Fund, will visit India later this month and is likely to discuss various economic policies and reforms related to the fast-growing Asian economy. Lagarde will also be visiting China next week, following which she would be in New Delhi on March 19-20 for...
  • World Bank issues SOS for oceans, backs alliance February 24, 2012

    Singapore: The World Bank announced on Friday a global alliance to better manage and protect the world's oceans, which are under threat from over-fishing, pollution and climate change. Oceans are the lifeblood of the planet and the global economy, World Bank President Robert Zoellick told a conference on ocean conservation in...
  • Eurozone seals a second bailout for Greece February 21, 2012

    Greece has finally secured a crucial second bailout after a marathon session of talks. ...
  • No country immune from economic crisis: Lagarde December 16, 2011

    Washington: No country is immune from an "escalating" euro zone crisis and each one must act to head off the risk of a global depression, the head of the International Monetary Fund said on Thursday. IMF Managing Director Christine Lagarde, speaking at the US State Department, said the outlook for the...
  • US markets give up hopes for lasting euro solution November 7, 2011

    New York: After another week of confusion and turmoil in Europe, investors are ditching whatever hopes they once had for a conclusive solution to the debt crisis. That may foreshadow a gloomy holiday season in markets, especially if wary investors opt to reduce risk in their portfolios and take refuge in...
  • Pranab for concrete steps to tackle economy September 24, 2011

    Washington: Amid fears of a second dip recession, Indian Finance Minister Pranab Mukherjee has said that "concrete steps" will have to be taken to deal with the situation as there is no ready made formula to address the problems. "We are in a situation when international economic...
  • Global economy in danger zone: World Bank chief September 3, 2011

    Beijing: The world economy is stepping into a "new danger zone," World Bank President Robert Zoellick said on Saturday, as growth slows and investor confidence weakens. Speaking in Beijing, Zoellick urged Europe and the United States to tackle their debt problems, and noted that near record-high food prices and volatile...
  • World stocks fall for 8th day after a wild week August 6, 2011

    New York: World stocks fell for an eighth day on Friday, with around $2.5 trillion wiped off the value of global equities this week, but hopes the European Central Bank will buy the bonds of Italy's heavily indebted government helped lift markets off the lows of the day. Better than expected...
  • When Indian PM speaks, world listens: Obama June 28, 2010

    Toronto: Prime Minister Manmohan Singh and US President Barack Obama on Sunday held their second substantive dialogue in two months, during which they are understood to have discussed terrorism, global economy and other issues of mutual concern. Singh and Obama met on the sidelines of the G-20 Summit in Toronto and...
  • IMF approves $ 38-billion loan to Greece May 10, 2010

    Washington: The International Monetary Fund (IMF) on Sunday approved a three-year, 30-billion-euro ($ 38-billion) loan to Greece, the IMF said at its headquarters in Washington. The loan is part of a 110-billion-euro, European Union-IMF aid package to help Greece out of its financial woes. The IMF will make 5.5 billion euros immediately...
  • Obama unveils $3.83 tn budget with massive deficits February 1, 2010

    Washington: President Barack Obama sent the US Congress a $ 3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit for this year would surge to a...
  • Business warns regulation may crimp recovery January 27, 2010

    Davos, Switzerland: Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s. The worried response to US President Barack Obama's plans to tax and curb big banks, came on the opening day...
  • Economic recovery, booming China top Davos debate January 27, 2010

    Davos, (Switzerland): The risks of an uneven global economic recovery — powered by a booming China and held back by unemployment in the US and other wealthy nations — dominated the agenda on Wednesday as the World Economic Forum opened in the Swiss Alps. The five-day gathering of movers and shakers...