World Economy

  • China GDP grows 7.8 per cent in third quarter; outlook murky October 18, 2013

    Beijing: China's economy grew 7.8 per cent in the third quarter, its fastest pace this year and in line with expectations, as firmer foreign and domestic demand lifted factory production and retail sales. Yet any optimism from the government figures released on Friday could fade quickly as global demand remains volatile,...
  • US debt crisis threatens world economy: IMF October 4, 2013

    Washington: Terming the current debt crisis in America as "mission-critical", the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. "The ongoing political uncertainty over the budget and the debt ceiling does not help. The government...
  • 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 medium-term foreign debt stood at about $199 billion, up from about $197.06 billion at the end...
  • Gold hits 10-month low, attracts bargain buyers April 3, 2013

    Mumbai: Gold extended losses to hit its lowest level in ten months on global cues, attracting bargain hunters in the wedding season. At 2:51 pm, the most-active gold for June delivery on the Multi Commodity Exchange was 140 rupees lower at 29,465 rupees per 10 grams, after hitting a low of...
  • I hope G20 can pull the world out of crisis: PM June 18, 2012

    Los Cabos: Arriving at Los Cabos for the crucial G20 summit, Prime Minister Manmohan Singh on Sunday said the world economy is in "deep trouble" and hoped that the grouping of developed and developing countries will come up with constructive proposals to pull the world out of this crisis. Prime...
  • World economy fragile, faces 'uneasy calm': IMF April 18, 2012

    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...
  • UN budget cut by 5 per cent for 2012-13 December 28, 2011

    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...
  • IMF Chief warns of another great depression December 16, 2011

    Speaking at the US State Department Christiane Lagarde speaking on escalating euro zone crisis also called for collective action. ...
  • 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...
  • World on brink of another economic meltdown: UN December 2, 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...
  • Euro in danger, Europe races for debt solution November 29, 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,...
  • Asia not immune to euro zone woes: IMF chief November 12, 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...
  • IMF chief warns world economy risks 'lost decade' November 9, 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...
  • Euro, equities fall on Italy debt concern November 7, 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...
  • Portugal, Spain seek help from G20 countries October 30, 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...
  • World stocks high after Europe's Greek bailout package October 28, 2011

    Asian markets extended their rally following global sentiments after Europe announced the Greek bailout package, which calmed nerves worldwide. ...
  • World economy enters dangerous phase: IMF chief September 23, 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...
  • Indian American wins FT/Goldman Sachs award October 28, 2010

    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...
  • Wall Street up 4 pc on euro-zone rescue plan May 11, 2010

    New York: US stocks surged in a broad-based rally on Monday as an agreement on a $ 1 trillion emergency rescue package quelled fears that Greece's debt crisis would spread. The package of standby funds and loan guarantees would be available to euro-zone governments shut out of credit markets. The total...
  • Goldman chief not likely to resign: media April 28, 2010

    Washington: Goldman Sachs Chief Executive Lloyd Blankfein said he has not thought about resigning amid accusations the firm helped inflate the housing bubble and then made billions off the market's collapse. Blankfein was asked in an ABC interview aired on "Good Morning America" on Wednesday whether it had ever crossed...
  • China owns parts of US' biggest brands February 10, 2010

    For the first time China has revealed extensive details of its investments in US companies. It turns out Beijing owns shares in more than 60 of America's best known brands including Coca Cola and Apple. ...
  • Davos meet to discuss future of global economy January 27, 2010

    Davos: The 40th annual World Economic Forum begins in Davos on Tuesday with world's top economists and business leaders meeting under the shadow of the Haiti tragedy. They will discuss on how to create a modern economic system that cares for the poor. The economists and businessmen are expected tackle banking...
  • Wait, world economy not out of the woods: IMF January 16, 2010

    Washington: Led by emerging market economies, especially in Asia, the global economy is recovering significantly faster than previously expected, but growth is still dependent in most advanced economies on government stimulus measures, the IMF has said. Growth remains fragile in most advanced economies as recovery was still sluggish, with private demand...
  • India for new initiatives with ASEAN on global economy October 23, 2009

    New Delhi: India will make a strong pitch for new initiatives with ASEAN countries to collectively respond to challenges thrown up by the global economic meltdown and climate change during the two day India-ASEAN and East Asia Summits beginning in Thailand on Saturday. In a statement before his departure for Bangkok,...
  • Merger deals? The world prefers destination India October 6, 2009

    New York: Central and East European countries emerged favourites for cross-border mergers in the first half of this year, but India along with China, Russia and Brazil remained popular targets despite the global slowdown, says a new study. In the first half of 2009, US companies made the majority of their...
  • G20 set to coordinate world economy September 25, 2009

    Pittsburgh: The Group of 20 nations, comprising developed and emerging economies, is set to take a leading role in coordinating the world economy, a senior US official said. The move suggests a shift from the major industrialised powers that comprise the Group of Eight to a broader forum that includes...
  • When the world said goodbye to gold age for good August 25, 2009

    Would you rather live in a world where inflation is near zero and recessions rare? Then go, live in the Nineteenth Century. In the last four decades, the world economy has amassed unprecedented prosperity. Between 1970 and 2008, the gross world product rose 400 percent to $62 trillion. However, this period...
  • Pain grows; IMF says world economy in deep crisis April 22, 2009

    Washington: The International Monetary Fund said on Wednesday the world economy has fallen into a severe recession, cutting its forecast for global growth and calling for forceful action to spur a recovery. In its latest World Economic Outlook, the IMF said the global economy would likely contract 1.3 percent this year...
  • India slumping? World Bank lowers growth rate March 31, 2009

    Washington: As the global economy deteriorates sharply, the World Bank has projected a slower 4 percent growth for India in 2009, down from 5.5 percent in 2008, before picking up speed to reach 7 percent in 2010. World Bank estimates released on Tuesday have reduced its November 2008 projection of 5.8...
  • G20 meet: Fin Mins commit to keep economies afloat March 16, 2009

    New Delhi: At the G-20 meet, finance ministers made tentative advances, promising to raise funds available for emerging markets that need help. The highlight of the meet was a joint commitment to do whatever it takes to keep the world economy afloat, and Washington's plans to tackle the toxic assets that...