Category: World Economy

Global economy could shrink by almost 1% in 2020 due to COVID-19 pandemic: UN

United Nations, Apr 2: The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic […]

Global economy already in recession on coronavirus devastation – Reuters poll

BENGALURU – The global economy is already in a recession as the hit to economic activity from the coronavirus pandemic has become more widespread, according to economists polled by Reuters amid a raft of central bank stimulus actions this week. The spread of the disease caused by the […]

Stock markets take a breather after rally

Global stocks mostly fell Friday as investors pocketed profits from this week’s rallies, despite data showing a surge in US job creation. Equities largely bounced back this week after heavy losses triggered by worries about the economic fallout from China’s deadly coronavirus outbreak. But major US indices, which […]

Divided G20 admits worsening trade wars pose risk to world economy

The world’s top financial policymakers admitted Sunday that trade tensions had worsened and posed a risk for the global economy, after a G20 meeting that laid bare differences between the United States and other nations. Following 30 hours of wrangling in what one official described as a “tense” […]

Debt bubbles could burst as economies slow, threatening stability, bankers warn

STOCKHOLM – Heavy reliance on debt financing and slow economic growth are leading to the creation of debt bubbles which risk destabilising the entire financial system should a major shock occur, bond bankers and investors warned at a conference on Thursday. They were in Stockholm for the annual […]

China slowdown, trade disputes weigh on Asia factory activity

HONG KONG – Factory activity weakened across Asia in December as the Sino-U.S. trade war and a slowdown in Chinese demand hit production in most economies, strengthening the case for a pause in interest rate hikes in the region in 2019. A series of purchasing managers’ indexes for […]

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