Page 6 - Recession

Placement offers at IITs in 2023 may not be as high as last year: Report

The highest packages at IITs for this year may come for domestic roles, unlike last year when international roles offered the highest salaries

Top Headlines: India-UAE trade deal; crude import basket at 10-month low

The price of the Indian basket of crude oil has hit a 10-month low of $88.6 a barrel in November, government data showed

In coming global recession, job cuts won't mean mass layoffs: Report

This time around, workers have a better-than-usual shot at holding onto their jobs if recession arrives

India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'

UK India Business Council MD lists four "Ps" to explains why he is confident the deal will happen

Foreign direct equity investments from top-6 nations shrink in H1

After witnessing a robust growth for two years, foreign direct equity investments during April-September declined 14 per cent on year to $26.9 billion

Recession unlikely in APAC region in coming year: Moody's Analytics

A recession is unlikely in the APAC region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody's Analytics said on Thursday. In its analysis titled 'APAC Outlook: A Coming Downshift', Moody's said India is headed for slower growth next year more in line with its long-term potential. On the upside, inward investment and productivity gains in technology as well as in agriculture could accelerate growth. But, if high inflation persists, the Reserve Bank of India would likely take its repo rate well above 6 per cent, causing GDP growth to falter. In August, Moody's had projected India's growth to slow to 8 per cent in 2022 and further to 5 per cent in 2023, from 8.5 per cent in 2021. It said the economy of the Asia-Pacific (APAC) region is slowing and this trade-dependent region is feeling the effects of slower global trade. Global industrial production has remained "fairly level" since it peaked in February just pr

Job switches to fetch smaller salary hikes to tech talent, says report

The average salary hike on new jobs has fallen from 54 per cent in July and August to 45 per cent in September and 37 per cent in October

Oil prices rise as Saudi comments outweigh recession, China Covid concerns

Brent crude rose 37 cents, or 0.4%, to $87.82 by 0915 GMT. U.S. West Texas Intermediate (WTI) crude was up 46 cents, or 0.6%, at $80.50

UK starting to have second thoughts about Brexit as economy faces recession

More than six years after voting to leave the European Union, the UK is facing a prolonged recession and a deep cost-of-living crisis

No prospect of recession in India, economy to grow at 6-7 pc: Rajiv Kumar

India will still grow at 6-7 per cent in the next 2023-24 fiscal even as the economy may be affected by uncertain global conditions, former Niti Aayog Vice-Chairman Rajiv Kumar has said amid growing fears of the world slipping into a recession. Kumar further said there is a synchronized downturn in the US, Europe, Japan and also in China and that could take the global economy into a recession in the coming months. "Thankfully, there is no such prospect of recession in India, because although our growth may be negatively affected by the global conditions, we will still manage to grow at 6-7 per cent in 2023-24," he told PTI in an interview. The World Bank on October 6 projected a 6.5 per cent growth rate for the Indian economy for 2022-23, a drop of one percentage point from its June 2022 projections, citing the deteriorating international environment, while IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India. IMF chief Kristalina Georgi

'Risk of recession' increased, expect to raise rates more: ECB's Lagarde

Lagarde said that the "risk of a recession" has increased, but that a downturn on its own won't be sufficient to tame soaring prices

Britain is in recession, Hunt makes it official; windfall tax hiked to 35%

The tax burden would hit 37.1 per cent of GDP, its highest sustained level since World War Two

US Federal Reserve official suggests substantial rate hikes may be needed

The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, James Bullard, who leads the Federal Reserve Bank of St. Louis, said Thursday. Bullard's comments raised the prospect that the Fed's rate hikes will make borrowing by consumers and businesses even costlier and further heighten the risk of recession. Wall Street traders registered their concern by sending stock market futures further into the red early Thursday. The Dow Jones Industrial Average was down about 330 points shortly before trading began. Bullard's remarks followed speeches by other Fed officials in recent days that suggested they see only limited progress, at most, in their use of steadily higher rates to fight inflation. The Fed's key short-term interest rate has not yet reached a level that could be justified as sufficiently restrictive, Bullard said. To attain a sufficiently restrictive level, the policy rate will need to be

ECB warns of financial stability risks in euro area, warns of recession

Should the outlook deteriorate further, an increase in the frequency of corporate defaults cannot be excluded, particularly among energy-intensive companies

Technical recession has become more likely, says European Central Bank

The European Central Bank sees an increased likelihood of a recession in the 19 countries that use the euro currency, warning that soaring energy prices and high inflation fed by Russia's war in Ukraine have raised risks for bank losses and turmoil on financial markets. People and firms are already feeling the impact of rising inflation and the slowdown in economic activity, ECB Vice President Luis de Guindos said. As the bank released its twice-yearly assessment of eurozone financial stability on Wednesday, de Guindos said that "risks to financial stability have increased, while a technical recession in the euro area has become more likely. A chart published with the report indicated an 80 per cent chance of recession in the eurozone and United Kingdom in the year ahead and a 60 per cent probability in the US. Many economists and the European Union's executive Commission have already predicted a technical recession for the last three months of year and the first part of next year

What's worrying S Naren when it comes to equity markets?

Fear of recession is forcing tech giants to tighten their purse strings. But, markets back home look unperturbed by it. What does S Naren, Executive Director and CIO at ICICI Pru AMC, think of this?

Most European Union countries set to slide into recession in Q4: Gentiloni

The European Commission's autumn forecast predicted falling economic output in the last three months of this year and the first months of 2023

Recession, climate change, Ukraine war: Kant lists challenges before G20

The former Niti Aayog chief executive said that climate change was another big crisis that the world faced, impacting larger nations, as well as threatening to submerge smaller island nations

Austrian theory of business cycle is key to explain upcoming Recession

One reason the current economic situation is so fraught is that world is facing 3 kinds of business-cycle mechanisms at the same time. First 2 are well-known, but the third - Austrian theory is not

India in a sweet spot despite global fears of recession: IDFC AMC CEO

'Conditions are ripe for a private capital expenditure cycle over the next few years'