World Economy

OECD: Ukraine war, rising inflation slowing world growth to a trickle

The world economy will grow just 3.1 percent this year, down sharply from a robust 5.9 percent in 2021, according to the projections by the Paris-based Organisation for Economic Cooperation and Development.

What to expect from the G20 Summit in Bali

The Indonesian Presidency has set the agenda for the summit against a backdrop of a potential global recession, disruptions related to Covid-19 and an energy and food crisis.

Germany, Italy to face recession as IMF cuts global growth forecast

Internation Monetary Fund has also trimmed its 2023 global GDP forecast to 2.7 percent, 0.2 points down from July expectations.

World Bank slashes 2022 global growth forecast to 2.9%

The bank's President David Malpass says that the Ukraine conflict, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth.

Global stocks sink as US Fed signals end of pandemic-era cheap cash

Global stock markets and Wall Street futures tumbled after the Federal Reserve indicated it will raise interest rates soon to cool inflation.

China trade surges as experts warn post-Covid growth will flatten out

The world’s second-largest economy extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high.

World Bank projects Covid-19 to push 100 million into extreme poverty

Bank says coronavirus pandemic inflicted a "swift and massive shock" causing broadest collapse of global economy since 1870.

Turkey's exports hit $10B in May

Turkey has left worst behind as recovery begins with exports worth $10 billion in May, says the country's Trade Minister Ruhsar Pekcan.

China and Indonesia's 'developing' status muddies post-pandemic recovery

Trade is the key to China’s and Indonesia’s economic recovery. But this will be hampered by their new World Trade Organization designation.

Global remittances to drop 20 percent amid coronavirus - World Bank

Remittances expected to plunge by about 20 percent globally this year, the biggest decline in recent history, as closures cause a global recession and job losses that prevent workers from sending money to their families back home, World Bank says.

G20 agrees to keep markets open, tackle pandemic supply issue

Last week G20 leaders had pledged to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus outbreak

Dow ends session 12.9% down as virus slams economy, threatens jobs

Wall Street stocks had their worst day since 1987 on Monday, joining global market carnage as coronavirus outbreak shut down a widening part of US and global economy.