global economic

IMF sounds alert over debt in largest economies

Washington - Muslimchronicle

For the first time in years the International Monetary Fund is optimistic about global economic growth. But it sees a new problem: mounting debt in the world’s largest countries. “Debt levels are increasing in G20 economies,” Tobias Adrian, who heads the IMF’s monetary and capital markets division, said Wednesday. Among private businesses in those countries, leverage is higher than beforeRead more

Social inequality adversely affects economy

Dubai - ArabToday

Widening gap in social inequality has adversely affected the performance of the US economy, a US economist has said. American economist Joseph Stiglitz, professor at Columbia University and author of many of the leading researches on income, growth, economy and education, said the statistical study launched recently by Oxfam International, revealing that the wealth of the richest eight people isRead more

Uncertainty over Trump policy clouds global outlook

Washington - Arab Today

The World Bank on Tuesday pared back its global growth estimate for 2017, but uncertainty about the economic policies of US President-elect Donald Trump is clouding the outlook. "We need to pay attention. All eyes are on US policymakers and how they will formulate their policies," Ayhan Kose, main author of the World Bank's global forecast, told AFP in anRead more

South Korea's Exports Drop to 5.9% in 2016

Seoul - QNA

South Korea's exports fell 5.9% last year from a year earlier due largely to a drop in global demand and weak oil prices, government data showed Sunday. The country's exports reached US$495.5 billion in 2016, while its imports dropped 7.1% on-year to $405.7 billion, according to the data released by the Ministry of Trade, Industry and Energy, according to SRead more

Summit opens new path for growth

Beijing - Arab Today

The 11th summit of the G20 major economies is expected to open a new path for growth and more efficient global economic governance, international experts have said. The summit was held in eastern Chinese city of Hangzhou under the theme of “Toward an innovative, invigorated, interconnected and inclusive world economy.” OVERCOMING DIFFICULTIES The greatest challenge for the G20 is toRead more

Chinese economy has great potential, prospects

Beijing - XINHUA

The Chinese economy has great potential and vast prospects, Foreign Ministry Spokesperson Lu Kang said on Monday at a daily press briefing. Lu made the remarks when answering a question about comments from a former United States Treasury Department official on the Chinese economy. "China can grow at a strong pace for the next 10, 20 years," said former AssistantRead more

Business leaders to submit policy advice to G20 summit

Beijing - XINHUA

Business leaders from G20 members have completed a report on policy advice and will submit it to the upcoming G20 summit. The report makes 20 suggestions on economic growth, global economic and financial governance, international trade and investment and inclusive and interconnected development, Business 20 (B20) meeting China sherpa Yu Ping said Wednesday at a press conference. The B20 isRead more

Aso: Japan "very concerned" after yen's surge over "Brexit"

Tokyo - MENA

The Japanese government is "very concerned" about the global economic risks stemming from Britain's decision to leave the European Union, Finance Minister Taro Aso said Friday, after the yen surged against other currencies. According to Kyodo news agency, Aso refrained from commenting on possible market intervention to halt the yen's rise after the dollar bounced back above the 100 yenRead more