Source link The assumption that China will eventually overtake the US as the world’s largest economy now seems less certain, Eswar Prasad has said The US has extended its lead over China in the race for the globe’s largest economy, Bloomberg reported on Friday. The American economy defied forecasts in outperforming China’s last year, according […]
Source link Olaf Scholz has also claimed the previous governments failed to address difficult issues Germany’s economy outlook is marred by uncertainty brought on by the Ukraine conflict and the fallout of the Covid-19 pandemic, German Chancellor Olaf Scholz has said. While acknowledging a widespread sense of concern among Germans, he insisted that his government’s […]
Source link Russian Market is a project by a financial blogger, Swiss journalist and political commentator based in Zurich. Follow him on X @runews The financial landscape of 2024 presents a mixed bag – a potentially bullish year for emerging markets with the US Federal Reserve contemplating three interest rate cuts, yet the potential for this being […]
Source link Global losses topped $250 billion last year, according to the world’s largest reinsurer Destructive thunderstorms and devastating earthquakes last year cost the world around $250 billion in damages, according to a new report issued this week by German reinsurance giant Munich Re. The figure is similar to what was recorded in 2022 and […]
Source link Washington’s chip export controls destroy global supply chains, according to the Chinese Foreign Ministry The restrictions imposed by the US on the export of computer chips to China go beyond the concept of national security and destroy supply chains, Chinese Foreign Ministry spokesperson Mao Ning said on Monday. Citing national security concerns, the […]
Source link Analysts polled by the news agency expect GDP to turn sluggish due to high interest rates The Russian economy will inevitably slow down in 2024 due to tight monetary policies pursued by the central bank, RIA Novosti reported on Saturday, citing a consensus outlook for the Russia’s GDP growth. Gross domestic product is […]
Source link The reduction caused by the industrial slump is not sustainable, a think tank has warned A slump in industrial production and an economic downturn in Germany, Europe’s biggest economy, have caused carbon emissions to drop to their lowest level in seven decades, a German think tank has reported. Last year, Germany’s greenhouse gas […]
Source link Western sanctions have failed to sink the Russian economy due to a “big country trap” effect, a recent study by the Institute of Economics of the Russian Academy of Sciences has found. If a state is a major player on the global market – like Russia – the imposition of restrictions on its […]
Source link Monika Schnitzer’s call for a “Ukraine surcharge” comes as the German government’s approval ratings hit record lows Berlin should tax citizens’ incomes more in order to strengthen military aid to Ukraine as support for the conflict ebbs elsewhere in the West, Monika Schnitzer, who chairs the German Council of Economic Experts (GCEE), told […]
Source link Nawaz Sharif says country’s woes should not be blamed on India, the US, or Afghanistan Former Prime Minister of Pakistan Nawaz Sharif has blamed internal issues, including military interference in politics and governance, for the country’s deep economic crisis as he seeks another term as PM in next year’s general elections. Sharif was […]
Source link Output declines in all three major sectors were key contributors to a drop in GDP in October The UK economy contracted by 0.3% in October, the first time since July that GDP had shrunk on a month-by-month basis, according to data released by the Office for National Statistics on Wednesday. The drop comes […]
Source link Bilateral partnership is expanding in a range of new areas, Aleksandr Rybas has said A complicated geopolitical environment and international sanctions on Russia have prompted the establishment of new supply and payment mechanisms, according to the head of the Russian Trade Representative Office in India, Aleksandr Rybas. In an interview with TASS on […]
Source link The country’s GDP is projected to increase by 3% this year, driven by strong domestic demand Russia’s economy could perform even better than the current forecasts, Finance Minister Anton Siluanov predicted on Tuesday. According to him, the growth of the country’s gross domestic product (GDP) could reach 3% by the end of the […]
Source link Argentina’s president-elect, Javier Milei, has promised “shock therapy” to fix the country’s beleaguered economy, which has been hit by one of the world’s fastest inflation rates and a looming recession, Bloomberg reported on Monday. Milei, who beat Economy Minister Sergio Massa in Sunday’s runoff election, is pledging radical measures for the Argentine economy […]
Source link The conflict with Hamas will negatively affect GDP in 2023 and 2024, according to the rating agency Israel’s economy will contract 5% in the fourth quarter of this year amid rising geopolitical and security risks due to the conflict with Palestinian military group Hamas, credit rating agency S&P said in a report this […]