Sunday, 16 May 2021

Tag Archives: economy

The Indian economy is in “dire” straits

The Indian economy is in “dire” straits as a lockdown to curb the spread of the deadly coronavirus has led to a whopping majority of households experiencing slashed incomes, a report has indicated. The report by the University of Pennsylvania’s Wharton School published Tuesday stressed on how experts are questioning the ...

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No clear flight plan for Alitalia after rescue stalls

Efforts to save loss-making Alitalia have reached an impasse after months of unsuccessful negotiations with potential buyers, leaving Italy’s government undecided on the next move. The struggling carrier, which has been under special administration since 2017 and continues to burn through cash, is now at a standstill after a consortium ...

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Chile says economy grows 1.9pc in Q2 of 2019

SANTIAGO: Chile’s gross domestic product grew 1.9 percent in the second-quarter of 2019 compared with a year earlier, the central bank said on Monday, as slumping global trade and falling copper prices continue to take their toll. Chilean officials have been downgrading expectations for growth for months amid a mining ...

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US economy slows in second quarter

WASHINGTON: US economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health. But the fairly upbeat report from the Commerce Department on ...

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Pakistan bracing for austere budget under IMF, finance chief says

ISLAMABAD: Pakistan is preparing a belt-tightening budget to tame its fiscal deficit, the de facto finance minister said on Saturday, adding that both civilian and military rulers agreed austerity measures were needed to stabilize the economy. But Hafeez Shaikh, Prime Minister Imran Khan’s top finance adviser, declined to say whether ...

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Japan’s Trade Surplus Falls Sharply As Exports Drop

TOKYO: Japan’s trade surplus dropped by around 90 percent in April, official data showed Wednesday, with exports affected by a slowdown in China’s economy as it wages a trade war with Washington. Meanwhile, Japan’s politically sensitive trade surplus with the United States grew 17.7 percent in April from a year ...

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South Korea posts worst growth figure for a decade in Q1

SEOUL: South Korea’s economy shrank 0.3 percent in the first quarter, its worst performance for a decade, its central bank said, as exports fell and companies cut investment amid the US-China trade dispute. It was the largest contraction for Asia’s fourth-biggest economy since a 3.3-percent drop in late 2008 at ...

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Trump trade rows are ‘destroying’ growth, says German minister

BERLIN: Germany’s economy minister on Sunday lashed out at US President Donald Trump, slamming his global trade rows and efforts to “dictate” Europe’s dealings with Iran through renewed US sanctions. In an interview with German weekly Bild am Sonntag, Peter Altmaier warned of the damaging consequences of a full-blown US-China ...

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Upbeat IMF economy report welcome news for Indian PM Modi

NEW DELHI: India is to remain one of the world’s fastest-growing major economies, the International Monetary Fund said Wednesday, in welcome news for Prime Minister Narendra Modi ahead of elections due next year. In a wide-ranging report on Asia’s third-biggest economy, the IMF forecast GDP growth for the fiscal year ...

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Sri Lanka economy unlikely to grow more than 4pc in 2018

COLOMBO: The governor of Sri Lanka’s central bank said the country’s economy is unlikely to grow more than 4 percent in 2018. “The output gap continued to be pretty significant … it is unlikely that growth would be going to be more than 4 percent this year,” Indrajit Coomaraswamy told ...

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