Page 11 - Global Economy

The world economy's supply chain problem keeps getting worse

Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records

South Korea's rate hike suggests it's not too worried about Delta variant

On Thursday, the Bank of Korea raised its benchmark rate a quarter of a percentage point to 0.75%, citing worries about asset bubbles and other financial imbalances

Covid-19 pushes 80 million people in Asia into extreme poverty: ADB

Covid-19 pandemic has pushed an estimated 75 million to 80 million more people in developing Asia into extreme poverty as of last year compared with what would have happened without Covid, ADB said

US dollar pauses after biggest weekly rise in over two months

The primary source for investor concern is the global prominence of the Delta coronavirus variant which is set to weigh on European manufacturing survey data due shortly.

Delta, Fed dominate economic conversation as stocks jump, oil drops

The Dow Jones Industrial Average ended up 0.65%, while the S&P 500 gained 0.81% and the Nasdaq Composite added 1.19%

The cost of saving global economy: $834 million an hour for 18 months

"Stimulus has caused immense inflation of Wall Street assets," wrote strategists led by Michael Hartnett

The cost of saving global economy: $834 million an hour for 18 months

"Stimulus has caused immense inflation of Wall Street assets," wrote strategists led by Michael Hartnett

Gold price stalls as UBS tells buyers to 'get out' before losses worsen

Bullion had been clawing back some ground over the past week after better-than-expected US jobs data sent prices tumbling on bets Federal Reserve may start paring back massive monetary stimulus soon

Earnings, macro data, global trends to dictate markets this week: Analysts

Markets this week would be guided by the ongoing quarterly earnings, macroeconomic data announcements and global trends, analysts said. The government will release industrial production data for June and inflation data for July this week. The RBI has revised its retail inflation forecast to 5.7 per cent, up from the earlier 5.1 per cent due to price pressure on account of supply constraints and high crude oil prices. With the ebbing of the second COVID wave, the RBI has retained its GDP growth forecast for the current fiscal year ending in March 2022 at 9.5 per cent. Nirali Shah, Head of equity research, Samco Securities said, "This week, all eyes will be on key economic data and ongoing results of companies. Although market sentiment is expected to remain buoyant, specifics on important economic indicators ranging from industrial numbers to inflation rate and manufacturing production will keep markets on their feet." MRF, Amtek Auto, Jindal Steel & Power Limited, Lupin, Eicher .

Business resumption activities declines for second consecutive week: Nomura

Business resumption activities declined for the second consecutive week after a multi-week increase since the ebbing of the second wave of the pandemic, Japanese brokerage Nomura said on Monday.

P&G forecasts higher annual earnings despite $2 billion input costs

(Reuters) -Procter & Gamble Co expects higher core earnings this year despite warning of a nearly $2 billion hit from rising commodity and transportation expenses, relying on price increases and cost cuts to cushion the hit to its margins.

An economist's selective notes

Kaushik Basu offers an engaging account of his days at North Block and World Bank but steers clear of controversial issues

Global hunger to rise in 2021 due to income losses from Covid-19 pandemic

291 million people won't have enough to eat in 2021, according to the US Department of Agriculture.

Top headlines: Fed on US economy, IAF deploys Rafales to counter China

Business Standard brings to you the top headlines on Thursday

Global recovery gap widens on unequal vaccine access, IMF says

Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs, says IMF

Global stock markets decline ahead of US Fed update on economy

Global stock markets declined Tuesday as investors looked ahead to a Federal Reserve report for an update on when US stimulus might start winding down. London and Frankfurt opened lower while Shanghai and Hong Kong declined. Tokyo advanced. On Monday, Wall Street's benchmark S&P 500 index rose to a new record, shrugging off worries about the spread of the more contagious delta variant of the coronavirus. Investors awaited the Fed report Wednesday for signs of the central bank's level of concern about inflation and when it might start rolling back easy credit and other economic stimulus. Minutes of the Fed meeting in June showed board members discussed how and when they might reduce monthly bond purchases that inject money into the financial system. We expect Jay Powell to reiterate that the tapering discussion is underway, but that it's too soon to reveal a specific date, Danielle DiMartino Booth of Quill Intelligence said in a report. In early trading, the FTSE 100 in London lost

Global growth to stay strong but coronavirus the top risk, say economists

A global survey of nearly 500 economists taken this month also concluded recent rising inflation in key economies around the world would be transitory.

Cash-hungry emerging markets arrive late to the SPAC party: Report

SPACs allow investors to list a shell company on public markets before they have identified a business to buy, which provides a speedier route to an initial public offering.

Best of BS Opinion: Living in 'interesting times', Af without Pak & Islam

Here are the top BS Opinion articles of the day.

IMF to keep 2021 global growth forecast at 6%: Managing Director

Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics, said that economic recovery will be held back unless the pace of Covid-19 vaccination picks up