Washington: Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile, the International Monetary Fund said on Tuesday. Another flare-up of the euro-zone sovereign debt crisis or sharp escalation in oil prices on geopolitical uncertainty could disrupt a world economy finding its feet once again after market turmoil over eurozone budget deficits, the IMF...
03:48 AM, Apr 18, 2012
Davos: An igloo protest camp sprouting up amid $500-a-night hotels and security cordons at the Swiss resort of Davos seems to serve a warning to the world's rich and powerful gathering in Davos: Beware, or you might be sleeping in the snow next year, too. In many countries, prospects for prosperity are increasingly fragile. Trust in presidents and CEOs, and the systems they represent, is drying up. Uncertainty lurks for...
10:33 AM, Jan 24, 2012
Beijing: China's economy grew at its weakest pace in 2.5 years in the latest quarter and it appeared headed for an even sharper slowdown in the coming months as export demand fades and the housing market falters. The fourth-quarter year-on-year growth of 8.9 per cent, although slightly stronger than the 8.7 per cent that economists polled by Reuters had predicted, may give Beijing yet another reason to gently ease monetary...
11:22 AM, Jan 17, 2012
United Nations: Adjusting to tough economic times, the United Nations has taken a five per cent cut in its budget for 2012-2013 at $ 5.15 billion, making it only the second time in 50 years that the world body's budget has declined over the previous year. The budget was approved by the 193-member UN General Assembly after night-long negotiations over the weekend. UN Secretary-General Ban Ki-moon said the new budget...
11:50 AM, Dec 28, 2011
United Nations: The United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down. The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6 per cent from 4...
10:56 AM, Dec 02, 2011
Paris: European leaders rushed on Monday to stop a rampaging debt crisis that threatened to shatter their experiment in a common euro currency and devastate the world economy as a result. In a measure of how rapidly the peril has grown, ideas unthinkable even three months ago were being seriously considered, including having sovereign nations cede control over their budgets to a central European authority. World stock markets, glimpsing hope...
01:36 AM, Nov 29, 2011
Tokyo: Asia clearly continues to drive global economic recovery, but if strains in the euro zone worsen the region will be negatively affected via trade and financial sector links, International Monetary Fund chief Christine Lagarde said on Saturday. Lagarde was speaking at a news conference after a meeting with Japanese Finance Minister Jun Azumi. Before arriving in Tokyo, Lagarde visited Moscow and Beijing, in a bid to convince the emerging...
08:44 AM, Nov 12, 2011
Beijing: The head of the International Monetary Fund warned on Wednesday that Europe's debt crisis risked plunging the global economy into a "lost decade" and said it was up to rich nations to shoulder the burden of restoring growth and confidence. Christine Lagarde told a financial forum in Beijing that European plans to bolster a rescue package for Greece were a "step in the right direction", but that the outlook...
10:43 AM, Nov 09, 2011
London: The euro and global stocks fell on Monday as political uncertainties in Greece and Italy fueled concerns that Europe's debt crisis was intensifying, prompting investors to cut exposure to riskier assets. Concern over political instability in Italy, the euro zone's third biggest economy, overshadowed a coalition deal in Greece to help secure its latest bailout package. The FTSEurofirst fell 1.4 per cent, adding to a 3.8 per cent decline...
02:48 PM, Nov 07, 2011
Asuncion: Spain and Portugal said on Saturday that the euro zone's debt crisis is a global problem, calling on the United States and other G20 powers to help contain the fallout. Spanish Prime Minister Jose Luis Rodriguez Zapatero urged the G20 countries least affected by the crisis to provide "urgent stimulus plans" to shield the global economy. Europe's debt crisis looks set to dominate the summit of Group of 20...
08:48 AM, Oct 30, 2011
Asian markets extended their rally following global sentiments after Europe announced the Greek bailout package, which calmed nerves worldwide. ...
09:05 AM, Oct 28, 2011
Washington: The head of the International Monetary Fund says the global economy has entered a dangerous phase and that the heavy debt burdens could "suffocate" a recovery. Nations must work together to meet the growing risks, IMF Managing Director Christine Lagarde said on Thursday. Banks must provide more capital, and governments need credible plans to get their debt under control. Lagarde worries that some governments lack the political will to...
12:37 AM, Sep 23, 2011
London: A book analysing the flaws in economy that led to the current financial crisis by an Indian-origin professor of finance at the University of Chicago has won the Financial Times and Goldman Sachs Business Book of the Year Award for 2010. The 30,000 pounds prize was on Wednesday night awarded to Raghuram G Rajan, for his book, 'Fault Lines: How Hidden Fractures Still Threaten the World Economy', published by...
03:41 PM, Oct 28, 2010
The $ 1 trillion emergency rescue package quelled fears that Greece's debt crisis would spread. ...
04:58 PM, May 11, 2010
Lloyd Blankfein underwent cross-examination from lawmakers during an 11-hour Senate hearing on Tuesday. ...
06:32 PM, Apr 28, 2010
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