Some economists believe the world’s largest economy will contract for a second straight quarter. Personal spending climbed by only 1.8% in the first three months of the year, down from previous estimate of 3.1%. Annualized GDP projections have been reduced to 1% from 2.7% previously. Several economists slashed their second-quarter US GDP forecasts in the … Read more
Recessions are notoriously difficult to forecast, but there is growing agreement among big banks. Bank of America, and Deutsche Bank, etc are among the most prominent firms forecasting. Famous economists that a slump is on the way. Recessions are notoriously difficult to forecast, but there is growing agreement among big banks and famous economists that … Read more
The Federal Reserve on Wednesday made its largest rate hike since 2000 with a half percentage factor increase meant to crush hovering inflation inside the United States. After a quarter-point hike in March, the US imperative bank’s coverage-putting Federal Open Market Committee (FOMC) drove the rate above 0.75 percentage because it works to chill the … Read more
Around 200,000 employees of foreign companies in Moscow could lose their jobs due to sanctions over Russia’s military campaign in Ukraine, the city’s mayor said on Monday. “According to our estimates, about 200,000 people are at risk of losing their jobs,” Moscow Mayor Sergei Sobyanin said in a blog post. He said authorities had closing … Read more
Asian and European markets were down Tuesday, after a weak lead from Wall Street and with all eyes on key US inflation data due later in the trading day. Tokyo closed down by nearly 2 percent, though Hong Kong was up more than one percent by the end of trade day. Shanghai also posted gains, … Read more
Economists debating inflation in the United States are confronting a difficult challenge: stripping out volatile price changes to gauge underlying pressures. The most common measure of underlying or “core” inflation, which excludes volatile food and energy prices, has been hard to read during the pandemic. The traditional measure came into wider use in the 1970s, … Read more
CARACAS: Economists say that Venezuela has come out of a four-year cycle of hyperinflation, but citizens like pensioner Humberto Reco are still waiting to see the evidence. The crisis-wracked South American country ended 2021 with inflation of 686 per cent, according to the central bank, meaning the end of a period of hyperinflation that began … Read more
ISTANBUL: Turkish doctoral student Gulfer Ulas saw the first edition of her favourite Thomas Mann collection published for 33 liras. She found the second print of the same two-volume set selling months later at her Istanbul book shop for 70 liras (about $6 at the latest exchange rate). The jump exemplifies the debilitating unpredictability of Turkey’s … Read more
ISTANBUL: Turkey’s troubled lira nosedived on Monday after President Recep Tayyip Erdogan justify not to raise the interest rates to stabilise the currency. Erdogan has pushed the central bank to sharply lower borrowing costs, despite the annual rate of inflation soaring to more than 20 per cent. Economists believe the policy could see consumer price increases … Read more
BEIJING: Chinese consumer spending grew at a slower-than-expected pace in November, data released on Wednesday showed, with analysts warning that an uptick in coronavirus cases was dampening sentiment and adding to questions over a rebound in the world’s second-largest economy. China’s economy bounced back quickly from the pandemic after authorities contained Covid-19 with strict border controls … Read more
RIYADH: Stagnation is more of a risk to the global economy in 2022 than stagflation, Arab News quoted a report from Japanese company Nomura Holdings, as showing. In a 2022 outlook report released on Friday, December 10, economists at the firm warned that many countries will see a “dominance of cost-push inflation, the bad type of inflation … Read more
WASHINGTON’: The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its lustre recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. The difficulties of the real estate sector in China triggered by the … Read more
KARACHI: The state-owned Pakistan LNG Limited (PLL) has floated a tender, seeking delivery of eight cargoes of the liquefied natural gas (LNG) in September and October this year. The bids will be opened on July 5. According to the tender document, five cargoes up to 140,000 cubic meters in capacity each are spread over five … Read more
Economists mocked Indian Prime Minister Narendra Modi and his party as they claim that Modi has divided ‘World’s largest Democracy.” Modi-led Bharatiya Janata Party (BJP) had passed the controversial Citizenship Amendment Act and had amended the National Register of Citizens (NRC). These steps have created chaos in India and have outraged people. Economists have called … Read more
