Page 8 - Global Economy

Gold hovers near 1-week high as Omicron unease offsets firmer dollar

Gold prices reversed course to approach a one-week peak on Monday, as renewed risks to global economic growth from rising cases of Omicron

Rising global Covid cases to impact capital flows, push inflation: Ind-Ra

Rising Covid cases globally have the potential to impact capital flows as well as heighten inflation, said India Ratings and Research (Ind-Ra)

World economy to surpass $100 trn in 2022, India to overtake France: Study

British consultancy Cebr predicted China will become the world's top economy in dollar terms in 2030, two years later than forecast in last year's World Economic League Table report

2021, the year that was for world: A chaotic return to the usual

2021 started on a sour note for the democratic world and it remained under pressure from a dominant communist China

Dollar droops as optimism on economic outlook saps demand for haven assets

The safe-haven dollar languished near an almost one-week low against its major peers as investors adopted a more optimistic stance about the global economic outlook

Oil prices rally on inventory drawdown, casting Omicron caution to the wind

Oil prices rose on Wednesday after a larger-than-expected drawdown in US inventories

Covid-19 pandemic: Omicron may slash Q4 global growth by half

According to the latest Bloomberg nowcasts, the global economy is expanding just 0.7 per cent in Q4

Bank of Japan scales back emergency funding as pandemic strains ease

In a widely expected move, the BOJ on Friday maintained its short-term rate target at -0.1% and that for 10-year bond yields around 0%.

Japanese startups attract increasing interest from overseas investors

More than $3 billion was raised in the first six months of 2021 alone

Freight cost hits highest due to Omicron, threatening export companies

As the Omicron variant has slowdown major ports and global supply again, shipping and air freight rates hit record highs.

India working on urgent economic package to aid Sri Lanka: Report

The move follows a recent visit by Sri Lanka's finance minister to India

Collective progress to ensure sustainable inclusive recovery: FM Sitharaman

The finance minister stressed on the importance of enhanced infrastructure investments for enabling a quick and stable return to the growth path.

US dollar edges higher as Omicron restrictions hurt risk sentiment

Investors were also awaiting U.S. inflation data on Friday that could set the tone for the Federal Reserve's strategy on interest rate hikes.

How will the world decide when the coronavirus pandemic is over?

How will the world decide when the pandemic is over? There's no clear-cut definition for when a pandemic starts and ends, and how much of a threat a global outbreak is posing can vary by country

Japan offers 30% tax break to big companies that hike wages by 4%

Its economy contracts 3.6% sequentially in third quarter

Recovering economy not immune to global spillovers: RBI Governor

Reserve Bank's Governor Shaktikanta Das on Wednesday said that India's economy is on the path of recovery.

Japan govt to give massive tax breaks to companies that lift wages

Liberal Democratic Party-led government has piled pressure on cautious Japanese firms to spend their record cash piles to boost wages

Pakistan receives $3 bn loan from Saudi as part of economic support package

The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.

Australia to raise its 2022 growth forecast at mid-year budget review: Govt

"The market is coming back strongly," Treasurer Josh Frydenberg said in an interview on the Australian Broadcast Corporation's "Insiders" programme

Omicron can hit confidence, dent global growth projections: IMF chief

Omicron has spread rapidly to at least 40 countries since it was first reported in South Africa last week, officials say, and many governments have tightened travel rules to try to keep it out