Global Economy
Global Economy News
IMF unveils Resilience and Sustainability Trust to help 'vulnerable' countries
IMF Managing Director Kristalina Georgieva said the goal of the trust is to redistribute funds from wealthier countries to more vulnerable ones as members look to support global economic recovery from the COVID-19 pandemic
NATO Summit: US, allies ramp up pressure on Russia, unveil fresh sanctions
Meanwhile, NATO has rushed tens of thousands of extra troops to its eastern flank in the wake of the invasion, and leaders launched four new 'battle groups' in allies Hungary, Bulgaria, Slovakia and Romania
US president Joe Biden and Western allies gather at Brussels as the war in Ukraine completes a month
While the West has been largely unified in confronting Russia after it invaded Ukraine, there's wide acknowledgement that unity will be tested as the costs of war chip at the global economy
Global growth could slow sharply due to Omicron variant of COVID-19, warns World Bank
In its latest Global Economic Prospects report, the Washington-based development lender cut its forecast for world economic growth this year to 4.1 percent after the 5.5 percent rebound last year.
Coronavirus pandemic exacerbating poverty and inequalities, other shared challenges becoming more pressing: IMF
The IMF said the emergence of new COVID-19 variants has increased uncertainty, posing downside risks to the green shoots of the global economy which require urgent attention
COVID-19 lessons: Lower trade barriers, adopt digital procedures, ESCAP-ADB report recommends Asian nations
The study underscores the need to strengthen supply chains as the COVID-19 pandemic laid bare the vulnerabilities of concentrated trade networks, limited inventories and financing shortages
Top US leaders to attend two-day summit on global economy in post-COVID era
The India Ideas Summit will be held on October 6 and 7 and focus on the theme 'Recovery to Resurgence'
Human growth in recent decades came at 'devastating cost' to nature, planet's economic role: Review
A sustainable future for people and the planet calls for a total decarbonisation of the global energy system, the review added.
Global economy to plunge to deepest recessions post-COVID since Great Depression: World Bank
On Wednesday, the World Bank approved the extension of health emergency programmes to up to $12 billion for vaccines and therapeutics in developing countries
By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19, says World Bank
In its report, the World Bank noted that the lack of recent data for India severely hinders the ability to monitor global poverty
Centre issues SOPs for approaching festival season; India's COVID-19 cases rise to 66.8 lakh
As per the new guidelines, organisers will be required to provide adequate area for an event along with a detailed site map of the venue and proper markings to maintain social distancing
A third of land, ocean area on Earth could be protected without harming economy: Report
Conserving at least a third of the planet’s land and oceans could prevent mass extinctions and allow vital habitats to be restored.
StanChart’s Jose Vinals predicts economic recovery led by Asia in late 2020; says most economies to suffer negative growth rates
StanChart's annual investor meeting was closed to shareholders in line with government restrictions to control the spread of the new coronavirus.
Warren Buffett's Berkshire posts nearly $50 billion loss hit by coronavirus; says made 'a mistake' investing in airline sector stocks
Berkshire's stock price has fallen 1% in 2020, compared with a 12% drop in the Standard & Poor’s 500, despite Warren Buffett’s prediction that Berkshire would outperform in down markets.
Full text: Coronavirus vaccine could take two years, humankind has never had a more urgent task, writes Bill Gates
Humankind has never had a more urgent task than creating broad immunity for coronavirus.
HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis
HSBC said last week it is pressing ahead with plans outlined in February to shift capital from underperforming businesses, reduce costs and strip out layers of management.
Health
Bill Gates lists out scientific advances needed to stop COVID-19 in online memo, says 'testing critical to control coronavirus'
Testing is critical to getting the COVID-19 disease under control and beginning to re-open the economy, says Bill Gates
Stock Market Latest Updates: Sensex tanks 536 points, Nifty below 9,200-mark; except energy, pharma all other indices end in red
Stock market today LIVE Updates: Sensex over 400 points down, Nifty opens below 9,200-level; bank stocks among major losers
Pandemic throws global economy into deeper decline; govts, central banks around world unleash fiscal support to tide over crisis
Separate data on Thursday showed South Korea’s trade-reliant economy, Asia’s fourth-largest, shrank at its fastest pace since 2008 as self-containment measures kept shops closed and slumping global demand hurt exports.
Stock Market Latest Updates: Sensex tanks over 1,000 points, Nifty below 9,000-mark; except pharma, all other sectoral indices end in red
Stock Market Today LIVE Updates: Sensex plunges 870 points, Nifty at 9,000-level; Rupee slips 26 paise to 76.79 against dollar