Search results for: Global

Bank of England poised to raise rates by most in 33 years

-- 2022-10-28 18:22:09

The Bank of England looks set to raise borrowing costs by the most since 1989 next week even as it prepares for a recession that could be deepened by spending cuts under new Prime Minister Rishi Sunak...

How will we know if the US is in recession?

-- 2022-10-28 17:18:08

The US economy grew faster than expected in the July-September quarter, the government reported Thursday, underscoring that the United States is not in a recession despite distressingly high inflation...

IMF cuts Asia's economic forecasts as China's slowdown bites

-- 2022-10-28 17:11:22

The International Monetary Fund cut Asia's economic forecasts on Friday as global monetary tightening, rising inflation blamed on the war in Ukraine, and China's sharp slowdown dampened the region's r...

Europe likely to see another jumbo interest rate hike

-- 2022-10-27 16:30:29

The European Central Bank is set to follow the playbook of the US Federal Reserve in making its second big interest rate increase in a row on Thursday, underlining its determination to stamp out the r...

Currency depreciation risk intensifying global food, energy crisis, World Bank says

-- 2022-10-27 15:20:29

The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, the World Ban...

Energy prices to decline 11pc in 2023 after 60pc jump in 2022, World Bank projects

-- 2022-10-26 20:53:33

The World Bank on Wednesday said it expects energy prices to decline 11 per cent in 2023 after a 60 per cent surge in 2022, with slower global growth and continued COVID restrictions in China posing k...

Global economy approaching a recession: Reuters poll

-- 2022-10-26 19:36:30

The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down persistent...

Wall Street bankers in Riyadh renew warnings over world economy

-- 2022-10-25 18:28:01

Top Wall Street bankers renewed their warnings about the world economy on Tuesday amid geopolitical tensions and steep interest rate hikes to tackle decades-high inflation. Goldman Sachs boss David S...

World is in its first truly global energy crisis, IEA chief says

-- 2022-10-25 15:20:10

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head of the Internat...

Japan’s efforts fail to prop up yen against persistent dollar strength

-- 2022-10-24 17:06:03

Japanese policymakers on Monday continued efforts to tame sharp yen falls, including through two straight market days of suspected intervention, but ultimately failed to prop up the currency against p...

Indonesia exports could hit record $280b this year

-- 2022-10-24 13:50:03

Indonesia's exports could hit a record $280 billion this year, with nickel-based steel shipments rising sharply after the country banned nickel ore exports, while shipments of other commodities got a...

Poor nations face peril over elusive G-20 debt relief push

FE ONLINE DESK 2022-10-23 11:45:29

A failure to secure meaningful progress on a debt relief for the world's poorest nations at the International Monetary Fund and World Bank annual meeting in Washington has left policymakers,...

Global stocks lower amid UK political turmoil

-- 2022-10-20 17:32:49

Global stock markets declined Thursday as the British prime minister faced demands to quit and Japan reported its 14th straight monthly trade deficit. London and Frankfurt opened lower and Shanghai,...

India government must set moderate divestment targets: Official

FE ONLINE DESK 2022-10-19 10:47:56

The Indian government should focus on privatisation of state-run companies instead of chasing high divestment targets, a top finance ministry official said on Tuesday, pointing to market volat...

Pakistan seeks billions of dollars in new loans after floods

FE ONLINE DESK 2022-10-19 10:45:33

Pakistan will ask international lenders for billions of dollars in loans after devastating floods exacerbated the South Asian nation's economic crisis, the Financial Times reported on Wednesday,...

Biden knocks Truss economic plan, says not concerned about dollar strength

-- 2022-10-16 13:58:09

US President Joe Biden on Saturday criticized British Prime Minister Liz Truss's original economic plan as a mistake and said he was not concerned about the strength of the soaring US dollar, Re...

World Bank says Ukraine has tenfold increase in poverty due to war

-- 2022-10-16 12:17:47

Russia's attacks on civilian infrastructure in Ukrainian cities away from the front lines will complicate the dire economic situation facing the country, which has already seen a tenfold increas...

Japanese yen falls to 147.66 against US dollar, lowest in 32 years

-- 2022-10-15 19:11:44

The Japanese yen touched a 32-year low against the US dollar after official figures showed that prices had risen faster than expected in America. The yen fell to 147.66 against the US dollar before r...

IMF urges most Asian central banks to tighten policy further

-- 2022-10-15 18:45:22

Most Asian central banks must tighten monetary policy further as rising commodity prices and their currencies' depreciation, driven by steady US interest rate hikes, push inflation above their targets...

Pakistan seeks rescheduling of $27 billion in bilateral debt

-- 2022-10-15 18:28:05

Pakistan's new finance minister, Ishaq Dar, has said he will seek rescheduling of some $27 billion worth of non-Paris Club debt largely owed to China, but will not pursue haircuts as part of any restr...

Singapore announces S$1.5 billion support package for all Singaporean households

-- 2022-10-15 17:09:57

Singapore's Finance Ministry on Friday announced a S$1.5 billion ($1.05 billion) support package for all Singaporean households amid concerns over the rising costs of living in the city-state. The pa...

New UK finance minister warns some taxes will rise in sign of new U-turn

-- 2022-10-15 14:50:04

Britain's new finance minister Jeremy Hunt said on Saturday that some taxes will have to go up, signalling another abrupt policy U-turn by Prime Minister Liz Truss who is battling to save her le...

UK corporation tax to rise to 25pc on PM Truss's U-turn

-- 2022-10-14 21:16:25

Britain's corporation tax will rise to 25 per cent, said Prime Minister Liz Truss after she sacked finance minister Kwasi Kwarteng and U-turned on a programme of tax cuts on Friday. In a Sept. 23 "mi...

OPEC+ oil supply cuts could tip world into recession, says IEA

-- 2022-10-13 16:34:41

A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said on Thursday. "The re...

Poorer nations do face big debt challenges: IMF

-- 2022-10-12 19:44:21

Emerging markets do not face a systemic sovereign debt crisis, though many poorer nations do face big challenges, Gita Gopinath, the International Monetary Fund’s (IMF) first deputy managing dir...

UK economy on brink of recession as it shrinks in August

REUTERS 2022-10-12 13:38:19

Britain's economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on her promises to speed up growt...

Asian stocks stall, dollar wallops pound and yen

REUTERS 2022-10-12 12:11:23

Asian stocks wallowed at two-year lows on Wednesday, after a strengthening dollar, instability in the UK bond market, and upcoming US inflation data spelled a wild session on Wall Street and further v...

IMF cuts its global growth forecast for 2023 amid colliding pressures

-- 2022-10-11 20:28:28

The International Monetary Fund on Tuesday cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest...

Sri Lanka to retain 'middle-income' status but seek concessional loans

-- 2022-10-11 14:20:19

Sri Lanka will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president's office said on Tuesday, clarifying a cabinet spokes...

Sri Lanka cabinet approves downgrade to 'low income country'

REUTERS 2022-10-11 11:55:04

Sri Lanka's cabinet has approved a proposal to downgrade the island nation's economic status to "low income country", in order to get access to concessional funding from international organisations, t...