Page 27 - Global Economy

Global remittances may lose $108.6 bn in 2020; South Asia to suffer most

Remittance receipts in Asia and the Pacific would fall by $54.3 billion, equivalent to 19.8 per cent of remittances in 2018

Jet fuel demand outlook sours after fleeting market optimism

The number of flights increased in the United States in early July, making some traders optimistic.

UPL: Favourable conditions in key markets to boost growth in coming qtrs

However, strong India business and margin gains were better than expectations

Global spread helps Motherson Sumi tackle Covid-19 pandemic pain

The third part of the series looks at how the firm used its first-mover advantage to get production back on track

Covid-19 lockdown takes the fizz out of Coke's operations in June quarter

Global volume offtake dropped 16 per cent year-on-year (YoY) and its aerated drinks business fell 12 per cent YoY, with the lockdown being the major factor.

Global debt hits record high of 331% of GDP in Q1 amid Covid-19: Report

The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the largest quarterly surge on record

China rebounds from coronavirus crisis, economy grows 3.2% in Q2

However, Shanghai Composite slips 4.5% over policy tightening, foreign selling

Post-Covid transport recast

Consumer interest must be protected if travel maps are redrawn

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

S&P predicts 4.7% slump in emerging market growth, warns of permanent scars

The firm said the downward GDP revisions mostly reflected the overall worsening pandemic for many emerging markets

World Coronavirus Dispatch: Global GDP growth estimated at negative 4.7%

Consumers in 26 countries fret about jobs, Australia's unemployment rate 13.3%, One in three South Korean patients improves with remdesivir and other pandemic-related news across the globe

Economic recovery to gather pace in H2-2020; stay negative on India: Nomura

While collectively, emerging market economies have entered their deepest recession in at least 60 years, Asia - particularly China and Northeast Asia - stand out as the best, Nomura says

Covid-19 left 147 mn unemployed, global consumption loss at $3.8 trn: Study

Decisions made in response to the pandemic could shape the future of humanity, says study published in journal PLOS ONE.

Covid-19: Global economy likely to contract by 5.2% in 2020, says report

The Asia Pacific region is unlikely to shake off the economic effects before the end of 2020, it added

Many countries may need debt restructuring after Covid-19 fallout: IMF

IMF's chief economist Gita Gopinath told an online event that there would be "much more persistent need for debt relief for the poorer nations of this world" given the pandemic.

Covid-19 impact: Fed policymakers see economy plateauing, risks ahead

Business owners are "nervous again," Ralph Bostic, president of the Atlanta Federal Reserve Bank, said in webcast remarks to the Tennessee Business Roundtable.

Oil prices steady as economic data overshadows coronavirus worries

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.

SoftBank Group shares reach highest level since 2000 on recovery hopes

The stock rose 4.6 per cent to 6,190 yen ($58) on Tuesday, the highest since March 2000.

Oil steady as hopeful economic data face spike in coronavirus cases

Brent crude settled at $43.10 a barrel, up 30 cents.