India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed on Thursday.
The Indian economy would see in this fiscal year its weakest growth rate in the past 10 years as the policy gridlocks and global economic uncertainties weigh heavily on the country.
Pressed by foreign creditors to produce 11.5 billion euros in spending cuts in 2013 and 2014, Greek leaders said Wednesday they had identified areas that could be trimmed.
The Irish government will spend more than ?2.25 billion ($2.76 billion) on new infrastructure projects and to restart existing road, school and health care construction projects to create as many as 13,000 jobs without hiking debt, government officials said on Tuesday.
Greece?s jobless rate is about double the average for the EU, while the unemployment rate among youths under 25 is an astounding 51.5 percent --- having doubled over the past three years.
Asian markets were rose Tuesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.
Asian shares paused Tuesday as investors awaited Federal Reserve Chairman Ben Bernanke's view on the U.S. economy later in the day, after weak U.S. retail sales and a lower International Monetary Fund global growth forecast raised hopes of more stimulus from the Fed.
The International Monetary Fund on Monday cut its global growth forecast in 2013 in response to Europe's sovereign debt crisis.
The International Monetary Fund on Monday cut its global growth forecast and warned that the outlook could dim further if policymakers in Europe do not act with enough force and speed to quell their region's debt crisis.
One of the euro zone's two bailout funds could begin disbursing monies to Spain at the end of this month in a €100 billion ($120 billion) rescue of the country's embattled banks, according to an article by the Associated Press based on a story in the German newsweekly Der Spiegel on Saturday.
This summer, both Greece and Europe are between a rock and a hard place. Greece faces the possible prospect of domestic coalition collapse, or ouster from the euro zone; Europe’s leaders, an elongated repayment for their loans to Greece, or a Greece default.
The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot. China's economy was expected to grow 8.2 percent this year and India's 6.5 percent, Kuroda said.
China's gross domestic product growth slowed down in the second quarter to the lowest rate in three years, due to soft global demand official data released Friday show.
Greek Prime Minister Antonis Samaras requested on Friday that European Union (EU) and International Monetary Fund (IMF) creditors extend a ?237 billion bailout package for a grace period of two years to help the country survive its fifth year of recession.
Hopes that emerging markets will lead the world out of the global economic slowdown are beginning to dim.Christine Lagarde, managing director of the International Monetary Fund (IMF), voiced her concerns over the strength of the global economy, emphasizing that emerging markets, which currently account for two-thirds of global growth, were showing signs of weakening.
Scandal-tarred former IMF chief Dominique Strauss-Kahn and his wife Anne Sinclair have separated, a magazine reports.
Japan?s retail sales growth slowed down in the year to May compared to April indicating that private consumption is getting affected by the faltering global economic conditions.
Crude oil futures slightly declined and hovered above $79 a barrel during Asian trading hours Wednesday as doubts over the ability of European leaders to address the debt crisis at a summit this week offset concerns over tightened North Sea supplies due to a strike in Norway.
Asian stock markets mostly declined Monday as fears of a further global slowdown and economic headwinds from the euro zone continued to weigh on the sentiment.
Due to health issues, neither Greece's new prime minister, Antonis Samaras, nor the country's new finance minister, Vassilis Rapanos, will attend the European Union summit in Brussels scheduled for Thursday and Friday.
Hailed as an African reformer, Yoweri Museveni has now become an autocrat who bends the rules to stay in power and hands favors to his family. Nothing new for Africa, unfortunately -- but the exact opposite of what he himself once pledged.
To that end, Hollande wants to slap a 75 percent tax rate on those Frenchmen earning in excess of ?1 million per year.
