Search results for: global

India's wholesale inflation at -3.21 pc in May

-- 2020-06-15 16:16:56

India's wholesale price index (WPI) contracted by 3.21 per cent in May, data released by the federal commerce and industry ministry on Monday said. "The annual rate of inflation, based on monthly WPI...

Indonesia's trade balance back to surplus in May

-- 2020-06-15 14:25:34

Indonesia's trade performance was back to a surplus in May as the plunge of imports exceeded the decline in exports when the novel coronavirus pandemic has depressed demands and weakened economic acti...

Asian stocks, oil fall as second wave fears grow

REUTERS 2020-06-15 10:37:57

Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China furth...

India's forex reserves cross $500b for first time

Xinhua 2020-06-13 19:15:58

India's foreign exchange (Forex) reserves have crossed the 500 billion US dollars mark for the first time, said the central bank - the Reserve Bank of India's (RBI) latest weekly statistical data. Th...

UK economy shrinks 20pc to fall back to 2002 level

-- 2020-06-13 19:10:36

The British economy has seen nearly two decades worth of growth wiped out as a result of the lockdown measures put in place during the coronavirus pandemic. The Office for National Statistics of UK s...

IMF's next growth outlook to trend lower

-- 2020-06-13 17:24:56

The International Monetary Fund expects its next economic forecast to trend lower as the world deals with new pandemic damage and a sluggish recovery. The organisation is slated to release its next g...

Pakistan targets ambitious growth, revenue despite coronavirus struggles

REUTERS 2020-06-13 13:44:00

Pakistan on Friday announced its annual budget for financial year 2020-21, setting ambitious targets of 2.1 per cent GDP growth, a 7.0 per cent fiscal deficit and an increase in tax revenues, even as...

China's trust industry reports higher revenue growth in Q1

-- 2020-06-13 12:03:29

The revenue of China's trust industry maintained rapid growth while its scale continued to fall during the first quarter of the year, according to a report from the China Trustee Association. The cou...

Japan's economy is bottoming out: Finance minister

REUTERS 2020-06-12 15:14:57

Japan’s economy appears to have hit bottom and is eyeing a recovery from the damage caused by the coronavirus pandemic, its finance minister said, underscoring cautious optimism spreading among...

A month into reopening, no clear turn for US economy or pandemic

REUTERS 2020-06-12 13:55:19

A month into efforts to broadly reopen the US economy there is little clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress the virus that has killed mo...

Federal Reserve keeps interest rates near zero

-- 2020-06-11 14:10:44

The US Federal Reserve has kept its benchmark interest rate unchanged at the record-low level of near zero amid mounting fallout from the COVID-19-induced recession. The Fed on Wednesday kept the pro...

Global economic activity likely to fall by 6.0pc this year

FE ONLINE DESK 2020-06-10 17:12:39

Global economic activity is expected to fall by 6.0 per cent in 2020 due to COVID-19 pandemic, according to Organisation for Economic Co-operation and Development (OECD). "Unemployment rate in OECD c...

Vietnam's unemployment rate stands at 2.05pc in 2019

-- 2020-06-10 16:20:21

Vietnam's unemployment rate among those aged 15 and above stood at 2.05 per cent in 2019, with the figure in its urban areas almost double that of rural areas, the country's 2019 population and housin...

Post-pandemic recovery: ADB forms high-level panel for S Asia

FE ONLINE REPORT 2020-06-10 12:44:33

The Asian Development Bank (ADB) has formed a high-level panel comprising leading experts to tap into quick bounce back of the Southeast Asian economies after the coronavirus pandemic. ADB President...

Chinese companies put US listing plans on ice as tensions mount

Reuters 2020-06-10 11:17:29

Chinese companies are putting off plans for US listings as tensions between the world’s top two economies rise, lawyers, bankers, accountants and regulators involved in what has been a major cap...

IMF chief urges countries to guard against retreat from globalisation

-- 2020-06-10 11:14:22

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged countries to recognise the importance of global trade amid the COVID-19 pandemic and guard against a "dramatic retrea...

It's official: US economy entered recession in February

REUTERS 2020-06-09 14:44:39

The US economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for deter...

COVID-19 to shrink 2020 global output by 5.2pc: WB

-- 2020-06-09 10:43:21

The coronavirus will cause global economic output to contract by 5.2 per cent in 2020, the World Bank said on Monday. The global lender also warned that its latest forecasts would be revised downward...

‘Renewable power generation keeps getting cheaper’

FE ONLINE REPORT 2020-06-08 23:38:30

Renewable power generation increasingly costs less than the cheapest fossil fuel-based power generation options, according to a new report published by the International Renewable Energy Agency (IRENA...

Indonesia's forex reserves soar to $130.5b in May

-- 2020-06-08 16:18:00

The Indonesian central bank's foreign exchange reserves (forex) drifted up further in May as relatively stable rupiah led the lender to carry out less intervention in the financial market amid huge ca...

Japan braces for worst postwar economic slump

REUTERS 2020-06-08 11:57:17

Japan’s economy braced for its worst postwar slump even as first-quarter GDP contracted less than initially thought, as the cornonavirus crisis slams the brakes on global growth and raises press...

G20 pledges more than $21b to fight coronavirus

-- 2020-06-06 16:19:28

The Group of 20 rich and emerging economies has pledged more than 21 billion US dollars to fight the coronavirus (COVID-19), the group said early on Saturday.  “The G20, with invited count...

Cambodia likely to lose $3b in tourism revenue in 2020

-- 2020-06-06 13:47:34

Cambodia may lose about 3.0 billion US dollars in tourism revenue in 2020 as foreign tourists to the kingdom dropped sharply due to the impact of the COVID-19, said Tourism Minister Thong Khon. Touri...

US labour market sees surprise improvement in May

-- 2020-06-05 21:20:28

The US labour market improved unexpectedly in May raising hopes that economic damage tied to the pandemic will be less harmful than feared. The unemployment rate fell to 13.3 per cent, down from 14.7...

Singapore's retail sales fall sharply in April

-- 2020-06-05 16:19:28

Singapore's retail sales decreased by 40.5 per cent year on year this April, compared to the 13.3 per cent decrease in the previous month, said the Department of Statistics (DOS) of Singapore on Frida...

Asian stocks set for best weekly gain in nine years

REUTERS 2020-06-05 13:42:03

Asian stocks extended gains on Friday and were poised for their biggest weekly rise since 2011 while the euro hit a 1-1/2 month high as Europe’s central bank surprised with more stimulus, fuelli...

Indian consumer confidence at historic low: RBI

-- 2020-06-05 12:26:12

Indian consumers are facing double whammy with their confidence in May touching historic low of 63.7 per cent from 85.6 per cent in March, along with expectations of retail inflation accelerating in t...

Vietnam garment export value falls 14.5pc in five months

-- 2020-06-04 12:16:21

Vietnam's total textile and garment export value in the first five months of this year declined by 14.5 per cent year-on-year to over 10.4 billion US dollars, according to the country's General Statis...

COVID-19 may cost global economy $82t in five years

-- 2020-06-03 19:33:32

The global economy could take a hit of some $82 trillion in a worst case scenario from the coronavirus over the next five years, according to recent findings by University of Cambridge. The Centre fo...

Virus brings Asia's online lending sector to juddering halt

Reuters 2020-06-03 11:19:41

The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans. Within weeks, the coronavirus pandemic had taken hold, drastically changing the pic...