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 […]
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 […]
Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, may look at setting up a fourth facility in the country to meet the rising energy demand in Asia’s third-largest economy, its CEO A K Singh said. Petronet operates a 17.5 million tonnes a year LNG import facility at Dahej in […]
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. […]
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 […]
Road transport corporations (RTCs), which are run by state governments, are staring at big losses and an undermining of their operational viability owing to the hefty hike in prices of diesel for bulk consumers like them. The oil marketing companies, unable to pass on the recent rise in cost of crude oil purchases for want […]
The conflict between Russia and Ukraine is a major blow to the global economy that will hurt growth and raise prices, the International Monetary Fund analysts said in a blog. They said impacts will flow through three main channels. One, higher prices for commodities like food and energy will push up inflation further, in turn […]
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 […]
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 […]
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 […]
