World Economy

Joe Biden To Debut At G7; Vaccines, Economy And China In Focus

World News | Reuters | Friday February 19, 2021

Joe Biden will attend his first meeting as U.S. president with Group of Seven leaders on Friday to discuss plans to defeat the novel coronavirus, reopen the battered world economy and counter the challenge posed by China.

Biden To Discuss Pandemic, Economy And China In Friday G7 Meeting

World News | Reuters | Monday February 15, 2021

President Joe Biden will hold his first event with other leaders from the Group of Seven nations in a virtual meeting on Friday to discuss the coronavirus pandemic, the world economy and dealing with China, the White House said on Sunday.

Xiaomi Leads Indian Smartphone Shipments in 2020, Realme Sees Highest Growth: Counterpoint

Tasneem Akolawala | Wednesday January 27, 2021

Counterpoint’s latest report highlights a healthy shipment number for smartphones even as the world economy reeled in the pandemic-hit 2020. Xiaomi is at the top with 26 percent market share in 2020, followed by 21 percent market share grabbed by Samsung. Vivo grabbed 16 percent of the Indian smartphone market share, taking the third position. Co...

Budget 2021: Extend Ayushman Bharat Scheme For Pandemic Support, Says IMF

Business | Press Trust of India | Monday February 1, 2021

Budget 2021: IMF's Chief Economist Gita Gopinath has favoured the extension of pandemic support measures, thrust on investment in infrastructure, and divestment path for commercially viable companies

Covid Pandemic Will Push China GDP Growth Far Beyond US, IMF Data Shows

Business | Alex Tanzi and Wei Lu, Bloomberg | Friday October 16, 2020

The fund now forecasts world gross domestic product to shrink 4.4 per cent this year, an improvement from the 4.9 per cent drop seen in June, according to the latest World Economic Outlook released this week.

Global Recovery May Take 5 Years: World Bank Chief Economist

Business | Reuters | Thursday September 17, 2020

Last month, the World Bank had saidIndia needs to continue with reforms to reverse the economic slowdown.

India's Self-Reliance In Defence Sector To Boost Global Standing: PM Modi

India News | Press Trust of India | Thursday August 27, 2020

Prime Minister Narendra Modi said on Thursday that his government's resolve for ''Aatmanirbhar Bharat'' is not inward-looking, but aimed at boosting India's capabilities and global peace, and also for helping the world economy become more stable.

India Could Have Been In Top 3 Economies In 7-8 years: Rajnath Singh

India News | ANI | Tuesday August 11, 2020

India's economy was growing at a good pace, had it not been hit by COVID-19-induced crisis the country could have been among the top three world economies in the next seven-eight years, Defence Minister Rajnath Singh said here on Tuesday.

IMF Predicts Significantly Deeper Recession For Virus-Hit Global Economy

Business | Eric Martin, Bloomberg | Thursday June 25, 2020

IMF chief economist Gita Gopinath said that the cumulative loss for the world economy this year and next as a result of the recession is expected to reach $12.5 trillion.

World Economy Could Suffer "Significant Scarring" Amid Coronavirus: IMF

World News | Agence France-Presse | Saturday June 13, 2020

The economic fallout from the coronavirus pandemic could inflict "significant scarring" worldwide and the outlook for recovery remains highly uncertain, IMF chief economist Gita Gopinath said Friday.

COVID-19 Pandemic Drives Broadest Economic Collapse In 150 Years: World Bank

World News | Agence France-Presse | Tuesday June 9, 2020

The coronavirus pandemic inflicted a "swift and massive shock" that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.

India's GDP To Contract By 3.2%, World Economy By 5.2% This Year: World Bank

Business | Edited by Abhik Deb (with inputs from agencies) | Monday June 8, 2020

The World Bank report says global economy is likely to face the deepest recession since second World War

Crude Oil Price: US Futures Crawl Back To Positive Territory After Record Fall Below $0/Barrel

Business | Edited by Peter Noronha (with inputs from agencies) | Tuesday April 21, 2020

Crude Oil Price News: US crude oil futures turned negative for the first time ever on Monday, as the coronavirus pandemic and resultant lockdowns have paralysed the world economy and caused apprehensions about a swift return to growth. West Texas Intermediate (WTI) crude prices - the benchmark for US oil rates - slid below the $0-a-barrel mark in a...

Crude Oil Claws Back Into Positive Territory After Plunging Below Zero On Coronavirus Fears

Business | Reuters | Tuesday April 21, 2020

U.S. crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed down stock prices and Asian currencies.

Coronavirus: World Economy Bound To Suffer "Severe Recession", Says IMF

World News | Press Trust of India | Saturday April 18, 2020

The world economy, already "sluggish" before the coronavirus outbreak, is now bound to suffer a "severe recession" in 2020, IMF chief Kristalina Georgieva has warned and said the current crisis posed "daunting challenges" for policymakers in many emerging markets and developing economies.