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[l] at 3/4/24 3:00pm
Moodys (NYSE:) Investor Service sharply raised its gross domestic product (GDP) forecast for India on Monday, following the strong momentum seen in the South Asian economy in recent quarters, which the ratings agency expects will continue into 2024. Indias economy has performed well and stronger-than-expected data in 2023 has caused us to raise our 2024 ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Korean automakers are grappling to maintain their export momentum due to a shortage of car carriers to transport them, driven by the increasing volume of Chinese automotive exports and stringent maritime environmental regulations. The scenario has led to an unprecedented rise in the cost of chartering vehicle transport vessels. Last year, South Koreas auto production ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Chinas economy is poised to see more favorable conditions than challenges, Lou Qinjian, spokesman for the second session of the 14th National Peoples Congress, told a news conference on Monday. He expressed strong confidence about Chinas economic prospects, saying the underlying trend of economic rebound and economic fundamentals that will sustain long-term growth remain unchanged. ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Germanys economy would contract by at least 1.2% by 2028 should former U.S. President Donald Trump regain office and hike import tariffs as much as he has proposed, the German Economic Institute (IW) argued in a paper on Monday. The IW, which is financed by prominent German business associations and carries weight among Berlin policymakers, ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
China will make new laws to deepen economic reforms, including those of financial institutions, in an effort to support private companies, Lou Qinjian, the spokesman of the National Peoples Congress (NPC), told a press conference on Monday. Source: Reuters (Reporting by Liz Lee and Albee Zhang; Writing by Ryan Woo; Editing by Clarence Fernandez)

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
To maintain momentum, it is imperative to accelerate investment as consumption growth moderates in major economies. This pivot to investment will be helped by monetary easing – the Federal Reserve, ECB and the Bank of England are all expected to begin cutting rates this year. Interest rate cuts are likely to come in modest increments ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 3:00pm
The highest inflation for decades and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes. Here are some cuts announced since December: AUTOS * BOSCH: the automotive supplier on Jan. 18 said it would cut 1,200 jobs in its software development division by end-2026. On Feb. 23 ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Chinas parliament is expected to unveil moderate stimulus plans to stabilise growth at an annual meeting beginning on Tuesday, but may disappoint those calling for a detailed roadmap of bold policies to fix the countrys deep structural imbalances. Premier Li Qiang will lay out economic targets for this year and deliver his first work report ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 3:00pm
Singapore will raise the salary criteria for foreign executives and professionals that companies can hire starting next year, the government announced on Monday. From January next year, foreigners must earn S$5,600 ($4,170) or more a month up from the current S$5,000 to qualify for the so-called employment passes typically granted to high-paid professionals. ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Central banks are on the brink of victory in the fight to bring the global surge in inflation back under control, the Bank for International Settlements said on Monday. There was cause for cautious optimism, according to the latest quarterly report from the BIS, which is often dubbed the central bankers central bank due to ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 3:00pm
South Koreas factory activity expanded for a second straight month in February but at a slower pace due to weakening overseas demand, especially in Europe and China, a private-sector survey showed on Monday. The purchasing managers index (PMI) for South Koreanmanufacturers, compiled by SP Global, stood at 50.7 in Februaryon a seasonally adjusted basis, down ...

[Category: World Economy News]

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[l] at 3/4/24 3:00pm
Japans corporate spending on plant and equipment jumped in the fourth quarter, suggesting likely positive revisions to data that showed the economy unexpectedly tipping into recession last year. The solid capex data could also bolster the case for the central bank to normalise its extremely accommodative monetary policy in the near term. Investor focus is ...

[Category: World Economy News]

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[l] at 3/4/24 11:00am
The sale of a 27% stake in Piraeus Bank by Greeces bank bailout fund (HFSF), worth about 1.3 billion euros ($1.41 billion), was oversubscribed by more than three times on Monday, sources close to the process told Reuters. Greeces third largest lender will be the third of the countrys four big banks to be fully ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 11:00am
Chinas parliament, the National Peoples Congress (NPC), will kick off its annual session on Tuesday, with all eyes on plans to support growth in the worlds second largest economy. A property crisis, deepening deflation, a stock market rout, and mounting local government debt woes have pressured Chinas leaders, so that the stakes for this years ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 11:00am
China kicks off its annual parliamentary meetings this week, which investors are watching closely for signals on economic stimulus. Beijing has already broken with tradition, with an announcement Monday that Premier Li Qiang would not hold the usual press conference at this year’s parliamentary meeting, and that such press meetings are canceled for the rest ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
The steep drop in trade with China could be a positive development, the United States top trade official has told the BBC. Katherine Tai said it isnt necessarily negative. It could be a positive indication of diversification on both sides. The amount of goods the worlds two biggest economies sold to each other fell 17% ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
U.S. central bankers are looking through recent data showing price pressures rebounded last month, and are focusing instead on overall progress on inflation that they say will likely set the table for interest-rate cuts later this year. I expect things are going to be bumpy, Atlanta Federal Reserve Bank President Raphael Bostic said during an ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
Inflation jumps 0.4% MoM, but at least no new surprises So the core PCE deflator did indeed come in at 0.4% MoM/2.8% YoY as the market had anticipated following those elevated core CPI and PPI prints – but given the recent performance of US data the fear was we could get yet another upside surprise. ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
Market rates are on the rise, mostly as delivered inflation is still too high So far in 2024, the rate cut narrative has been battered by a selection of events. These include a 353k non-farm payrolls outcome, a core inflation reading of 0.4% month-on-month, and even a nudge up in some eurozone confidence indicators. They ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
India is ‘easily’ the fastest growing economy in the world, IMF executive director Krishnamurthy Subramanian said, as the country’s third-quarter GDP growth blew past analysts’ estimates. At 8.4%, India’s economy expanded at its fastest pace in six quarters, data showed late Thursday, on strong private consumption and upbeat manufacturing and construction activity. Reuters estimates had ...

[Category: World Economy News, Πρώτη σελιδα]

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[l] at 3/4/24 7:00am
World Trade Organization (WTO) negotiators failed to break a deadlock on major reforms in the early hours of Saturday despite talks extending deep into overtime in Abu Dhabi, in what some delegates said was a triumph of national interest over collective responsibility. Here is a summary of what was achieved and what was not: E-COMMERCE ...

[Category: World Economy News, Πρώτη σελιδα]

As of 3/4/24 5:08pm. Last new 3/4/24 4:37pm.

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