Economy Slump

Pakistan's $7-bn IMF bailout deal hits a rough patch. Here's what we know

IMF reportedly mulling stricter review of Pakistan bailout package after noticing early slippages

Nvidia hits correction territory as slump wipes out $430 bn in market value

The stock fell 6.7 per cent, its third straight negative session and biggest one-day percentage drop since April

Growth across UK biz dips in May, in early blow to Sunak, shows PMI survey

S&P Global UK Composite Purchasing Managers' Index for the services and manufacturing sectors fell to 52.8 in May from 54.1 in April

Canada braces for possible wave of business bankruptcies amid slowdown

There were about 1.2 million small businesses with employees in Canada in 2021 and contributing over a third to the country's gross domestic product, according to the latest official data

Amid slump in economy, Pak's petroleum division notifies hike in gas prices

Regarding the significant increase in petrol prices for domestic, export and non-export units, CNG, cement and other industries, the Petroleum Division released a notification

Slowdown threatens India's booming economy even as its rich keep spending

India grew by 6.1% in the three months ended March compared to a year earlier, well beyond the 5% estimate of economists

Pakistan's economic crisis deepens amid growing political turmoil

Though the country managed to avert a default earlier this month, the challenges on the economic front are multiplying with foreign exchange reserves dipping below $7 billion

Pakistan at UN pleads for help with floods after 'cameras have gone'

Pakistan's unprecedented floods in the summer killed more than 1,700 people, inundated third of the nation and cut the nation's growth by half

Turkish inflation tops 85% driven by surge in food prices, energy costs

Turkish annual inflation accelerated for the 17th month in a row in October, driven by a surge in food prices and energy costs, to its likely peak during President Erdogan's two decades in power

Russia economy may not reach pre-war levels until 2030, says report

By the end of 2023, GDP will be about 8% below where output was in 2021, according to the credit rating watchdog's forecast

Economic losses in flood-hit Pakistan touches USD 18 billion: Reports

The cataclysmic floods in Pakistan has caused economic damages to the tune of around USD 18 billion to the country's teetering economy, wiping out more than 8 million acres of crops and displacing more than 33 million, media reports said on Friday. Record monsoon rains and melting glaciers in northern mountains brought floods that have killed at least 36 people in the last 24 hours, taking the death toll to 1,391 as of Friday, according to the National Disaster Management Authority. The rapid assessment cost on projected economic losses following Pakistan's worst food floods as calculated by the government and endorsed by the provinces has gone up further to the tune of around USD 18 billion, according to The News International newspaper. The devastating floods have inundated a third of the country, with Prime Minister Shehbaz Sharif saying on Wednesday that parts of Pakistan seemed like a sea. The losses further swelled because agricultural crops have been destroyed across 8.25 ..

Pakistan: Weak economy, political uncertainty hit China-led Port Project

China, the sole investor in the Gwadar projects is hesitating to invest amid uncertainties as the ongoing economic crisis and political instability in Pakistan are hitting investment sentiments

Try, try, and fly away: How Gotabaya Rajapaksa escaped from Sri Lanka

Sri Lankan President Gotabaya Rajapaksa managed to flee Sri Lanka in the early hours of July 13 and soon the government announced the imposition of an emergency in the island nation

Thai central bank chief says economic engines not as strong as before

Thailand's exports and foreign direct investment have lagged behind Vietnam, while its ageing population will also weigh on growth," Sethaput said.

Food prices surge for 3rd straight yr in Pak, inflation in double digits

"Food prices tend to go up as soon as the rates of petroleum products increase," Dawn quoted Suleri as saying.

Slowdown due to wrong policy moves like demonetisation, GST: Amit Mitra

Economic growth hit a six-year low of 5 per cent in the first quarter of the current financial year

India not facing 5% slowdown, we are the fastest growing economy: Govt

The Union minister of state for finance said India continues to the fastest growing economy in the world even though many countries in the world are facing economic slowdown.

The clouds over 2020

The last few months have brought us an avalanche of downgraded forecasts from all international and private sector financial institutions and think tanks

IMF says India's growth 'much weaker' than expected; cuts FY20 projection

The economic growth slowed to a seven-year low to 5% in April to June quarter from 8% a year ago

India has limited room to ease fiscal policy due to high debt: Fitch

It said GDP (gross domestic product) growth is likely to rebound to 7.1 per cent next year