World Economy

  • China GDP grows 7.8 per cent in third quarter; outlook murky 18-10-2013 11:04 AM

    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...
  • US debt crisis threatens world economy: IMF 04-10-2013 11:47 AM

    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...
  • China's foreign debt rises to $765 bn 29-06-2013 06:27 AM

    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...
  • UN budget cut by 5 per cent for 2012-13 28-12-2011 11:50 AM

    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...
  • IMF Chief warns of another great depression 16-12-2011 08:27 AM

    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 16-12-2011 07:59 AM

    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...
  • World on brink of another economic meltdown: UN 02-12-2011 10:56 AM

    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...
  • Euro in danger, Europe races for debt solution 29-11-2011 01:36 AM

    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...
  • Asia not immune to euro zone woes: IMF chief 12-11-2011 08:44 AM

    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...
  • IMF chief warns world economy risks 'lost decade' 09-11-2011 10:43 AM

    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...
  • Euro, equities fall on Italy debt concern 07-11-2011 02:48 PM

    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...
  • Portugal, Spain seek help from G20 countries 30-10-2011 08:48 AM

    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...
  • World stocks high after Europe's Greek bailout package 28-10-2011 09:05 AM

    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 23-09-2011 12:37 AM

    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 28-10-2010 03:41 PM

    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...
  • China owns parts of US' biggest brands 10-02-2010 02:40 PM

    Beijing owns shares in more than 60 of America's best known brands. ...
  • G20 set to coordinate world economy 25-09-2009 12:14 PM

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  • Watch: Pulitzer winner Friedman talks on economy 07-02-2009 05:58 PM

    Thomas Friedman is a world renowned author and columnist. ...