Trade war escalation would knock 0.4% off world growth, says Fitch

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An escalation of global trade tensions that results in new tariffs on USD2 trillion in global trade flows would reduce world growth by 0.4% in 2019, to 2.8% from 3.2%, Fitch Ratings said in its latest “Global Economic Outlook” baseline forecast. The US, Canada and Mexico would be the most affected countries. The imposition of […]

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Asian growth steady despite rising trade tensions; India leads the way – ADB

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Growth in Asia and the Pacific’s developing economies for 2018 and 2019 will remain solid as growth continues apace across the region, despite rising tensions between the United States and its trading partners, says a new Asian Development Bank (ADB) report. In a supplement to its Asian Development Outlook (ADO) 2018 report released last April, ADB forecasts 2018 growth […]

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Global investment in renewables shrink threatening expansion of clean energy, says IEA

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The International Energy Agency (IEA) sounded the alarm over a “worrying” pause in the shift to clean energy after global investment in renewables fell 7% last year and fossil fuel increased their share of energy supply investment for the first time since 2014. Global energy investment totalled $1.8 trillion in 2017, a 2% decline in real […]

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Rio Tinto says achieves first delivery of iron ore with autonomous train

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Global mining major Rio Tinto said it has achieved a significant milestone with the first delivery of iron ore by an autonomous train in the Pilbara, Western Australia. The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled over 280 kilometres from Rio Tinto’s mining operations in Tom Price to the […]

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Global wheat and coarse grain supplies decreased; rice, oilseeds raised in latest WASDE

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The latest World Agriculture Supply and Demand Estimate (WASDE) issued by the U.S. Department of Agriculture had the following details: Wheat Foreign 2018/19 wheat supplies are decreased 9.3 million tons primarily on lower production, which is the smallest in three years. The production declines are led by a 4.4-million-ton reduction for the EU reflecting continued […]

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Flat consumption growth pushes Indian tea industry to target school children – report

Flat growth in consumption is forcing the beleaguered Indian tea industry to look to school children for help, a newspaper reported. Struggling with near-flatline growth in consumption, the Indian Tea Association hopes to promote tea as a ‘healthy drink’ among schoolchildren, the BusinessLine said in a report. Nearly 30 per cent of the population, including […]

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