Asia growth slows on commodities, Covid and rising interest rates

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Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]

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IMF lowers global economic growth to 3.6% due to the Ukraine war

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The International Monetary Fund (IMF) has revised its global economic growth forecast lower at 3.6% this year and the next due to the war in Ukraine and new bottlenecks in supply chains due to Covid-related lockdowns in China. “Compared to our January forecast, we have revised our projection for global growth downwards to 3.6 percent […]

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Developing Asia economies set to grow 5.2% this year amid global uncertainty

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Developing Asia’s economies are forecast to grow 5.2% this year and 5.3% in 2023, thanks to a robust recovery in domestic demand and continued expansion in exports. However, uncertainties stemming from the Russian invasion of Ukraine, the continuing coronavirus disease (COVID-19) pandemic, and tightening by the United States Federal Reserve pose risks to the outlook. […]

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Global cotton logistics seen improving after Covid struggle – ICAC

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Global cotton logistics might be starting to sort themselves out after a long and painful struggle through the Covid pandemic, the International Cotton Advisory Committee (ICAC) said in its latest monthly report, adding that the conclusions were drawn solely from US export data. “The USA has greater means to effect changes than most other countries […]

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Government sanctions Rs 6,540 crore via Agri Infra Fund: Agriculture Minister, Narendra Singh Tomar

The Centre has approved over 9,000 applications and sanctioned Rs 6,540 crore so far, for the development of agri-infra projects, Agriculture Minister Narendra Singh Tomar said in Rajya Sabha. Tomar, in his written reply to the Rajya Sabha, said: “As on date, 16,026 applications for an amount of Rs 10,627 crore have been received on […]

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Nearly a third of India’s rice exports for this month are stuck due to a shortage of freight trains

Nearly a third of India’s rice exports for January 2022 are stuck due to a shortage of freight trains. Most traders have stopped signing February export contracts to avoid demurrage charges, industry officials told Reuters. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and […]

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Policy easing seen cushioning Greater China slowdown in 2022 – report

Sovereign credit profiles across greater China are expected to remain stable in 2022, as the region’s strong financial buffers offset rising growth pressures associated with pandemic-related uncertainty and mainland China’s property-sector stress, Fitch Ratings said in a report. The ratings on China, Hong Kong, Macao and Taiwan are all on Stable Outlook, it added. Fitch […]

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