Beijing: China’s President Xi Jinping’s “Zero Covid Policy” has delivered a severe blow to the Chinese economy. Along with the Chinese industrial output, a sharp fall has been reported in retail sales, fuel imports, energy production and employment. A few days ago, it was reported that President Jinping would have to resign due to the […]
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Moscow: Russia’s President Vladimir Putin has warned that sanctions imposed on Russia by the West over the Ukraine conflict have led to a global economic crisis, food shortages and starvation among several developing countries. Russia is facing tough sanctions, and its economy is slowly recovering, he said. Amid Putin’s claims, Russia’s currency, the Ruble, has […]
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Washington: The rising inflation and declining government expenditure in the wake of the Russia-Ukraine conflict have led to an unexpected slowdown in the US economy. In the first quarter of 2022, US GDP fell by 1.4 per cent. Also, the economy grew by 6.9 per cent in the last quarter of 2021. Against this backdrop, […]
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Washington: If the Chinese government intends to make its currency Yuan the global reserves currency, they have to implement more reforms. The International Monetary Fund (IMF) advised that China will have to lift restrictions on the capital marketplace and decide to make the currency fully convertible. Gita Gopinath, the Chief Economist at the IMF, gave […]
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Paris: – Fatih Birol, the Chief of the International Energy Agency (IEA), issued a serious warning that taking into account the lead position of Russia in the international energy sector, sanctions imposed against this country could trigger a global energy crisis. Many leading countries, including the European countries, are dependent on Russian fuels. The oil-producing […]
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Washington: Following the increase in interest rates, the US Federal Reserve is planning another increase in the interest rate in the current year. Jerome Powell, Chief of Federal Reserve, warned that the new rise in the interest rate could deliver jolts to the US economy. Powell warned not to be under the impression that the […]
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Washington: – Inflation has flared up in the United States and analysts have warned that this could hit the country’s economy. The PCE and CPI indices, considered the crucial elements in the US economy, have reached record levels in the last 40 years. The possibility of this inflation reduction has been ruled out given the […]
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London: – The demand for Gold is seen to be rising on the international level and the World Gold Council informed that the demand for Gold exceeded 4,000 tonnes in the last year. As per the report ‘Gold Demand Trends 2021’, Gold demand increased by 10% in 2021. The World Gold Council said that the […]
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Tokyo / Washington – The world’s central banks have increased gold purchases in the face of declining dollar value in the global economy, rising inflation and the corona crisis. This year, various central banks worldwide added more than 400 tonnes of gold to their reserves. These include Thailand, Brazil, India, Singapore, Uzbekistan and Hungary. Thailand’s […]
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Beijing: – After Evergrande, China’s leading real estate company, indications are that other big companies also may default in debt repayments. They include Fantasia, Scenic Holdings along Modern Land. It is learned that the company defaulted on payment to the tune of $250 million. Analysts predict that the energy sector crisis and the Coronavirus pandemic’s […]
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