World

In its economic outlook, Deloitte India predicts that India's economy will expand by between 6% and 6.3% in the current fiscal year ending on March 31, 2024, with growth exceeding 7% over the next two years if global uncertainties subside. Several economic indicators, such as constrained labor markets and reduced risk spreads in the aftermath of the US banking crisis, suggest that downside risks to global development are diminishing as the likelihood of a recession in major industrialized nations this year decreases. According to the economic prognosis, there are still significant uncertainties surrounding the actions of the central banks of major economies and the movements of energy prices. "Despite ongoing global uncertainties, India's economy remains robust," the report state...

Pakistan's finance minister announced on Thursday that China has extended a $2.4 billion loan for the cash-strapped Islamic nation by two years in an effort to assist the country in overcoming one of its most severe economic crises. The most recent extension of loan maturities by Beijing bolstered Pakistan's foreign exchange reserves, which are still insufficient to cover import costs for two months. Ishaq Dar stated in a post on the X platform, formerly known as Twitter, that the Chinese EXIM Bank carried over for two years the "principal amounts" of the $2.4 billion loan that Islamabad was supposed to repay in 2024 and 2025.China is a longstanding ally of Pakistan, and it played a crucial role in Pakistan's avoidance of a default this year, although there was concern in Pakistan a...

US officials will meet Taliban representatives and "technocratic professionals" from key Afghan ministries during a visit to Doha this week, the State Department said on Wednesday, adding they will discuss economic issues, security and women's rights. Special Representative for Afghanistan Thomas West and Special Envoy for Afghan Women, Girls, and Human Rights Rina Amiri will travel to Astana, Kazakhstan, and Doha, Qatar, from July 26 to July 31, the State Department said in a statement. In Astana, they will meet with officials from Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan to discuss Afghanistan, said the statement, which added the US officials will also meet civil society members focused on women's rights. The US officials will meet the Taliban de...

S&P Global Ratings has lowered Bangladesh's long-term outlook from stable to negative, citing concerns that the country's external liquidity position could deteriorate over the next year while foreign exchange reserves continue to be under pressure. Tuesday, the ratings agency projected that the economy will grow between 6% and 6.4% annually between 2024 and 2026.Bangladesh enterprises are hampered by the dollar crisis. After publishing a report on rising food costs, a Bangladeshi journalist is detained. Bangladesh under fire for Adani power agreement Ten years after the Rana Plaza tragedy, how secure is the Bangladeshi garment industry? The growth of Bangladesh's gross domestic product (GDP) slowed to 6.03 percent in the fiscal year ending in June 2023. Moazzem stated ...

Ambassador Ayman Kamel, assistant minister of foreign affairs for Asian affairs, conducted bilateral political consultations with the Maldives on July 16 and Sri Lanka on July 19, according to a statement released on Monday. The discussions with Maldives State Minister for Foreign Affairs Ahmed Khalil centered on enhancing economic cooperation, trade exchange, the exchange of reciprocal experience, and tourism between both nations. In addition to collaboration in the fields of culture, healthcare, education, athletics, and youth support, and the expansion of partnerships with Al Azhar, this initiative aims to strengthen ties with Al Azhar. In addition, an MOU was signed between the Diplomatic Studies Institute of Egypt and the Foreign Service Institute of the Maldives. The ambass...

We have reduced our forecast for Singapore's real GDP growth in 2023 from 1.4% to 1.1%.This is primarily due to weaker-than-anticipated growth in H123, and we also anticipate that the global macroeconomic environment will remain lackluster. In addition, domestic growth headwinds will persist in H223 as a result of restrictive monetary and fiscal policy.

People are leaving Pakistan in unprecedented numbers. With a collapsing economy and record-high inflation, more than eight lakh Pakistanis fled the country during the first half of this year, setting a new record. One hundred thousand of them were highly educated professionals, such as physicians, nurses, engineers, information technology (IT) specialists, and accountants. The official numbers, however, may only tell half the tale, as thousands more migrants enter Europe illegally. According to a report citing data from the Pakistan Bureau of Statistics, 8.32 million Pakistanis had fled the country as of June of this year. About four million were educated professionals. Even though Pakistan has experienced large-scale emigration in recent years, the mass departure of trained prof...

Pakistan, the fifth most populous country in the globe, has been ranked 99th out of 129 countries on the Global Hunger Index (GHI), which describes its hunger as "serious." The fourth edition of the report, which was compiled in collaboration by the German non-profit Welthungerhilfe and its Irish counterpart Concern Worldwide, was released on Tuesday in Islamabad, the capital of Pakistan. How can starvation be reduced globally? Following a starvation strike, the suspect in the Kenyan cult murders dies in custody. Foodbanks can help alleviate the starvation crisis in East Africa. In highlighting a global food crisis, the report states that a "toxic cocktail of conflict, climate change, and the COVID-19 pandemic" has left millions at risk of food insecurity. GHI projects t...

Both Rishi Sunak and Keir Starmer have faith in a five-point strategy. China's government has never knowingly undersold its products, but last week it announced a 31-point strategy. The news that China's GDP grew by only 0.8% in the second quarter of 2023 elicited alarm in Beijing last week, prompting a sense that China's economy requires an immediate boost. In recent years, the Chinese Communist Party (CCP) has targeted the private sector with high-profile crackdowns, fearing that companies such as Tencent and Alibaba were gaining too much prominence. Now, it claims it wants to make the environment for enterprises "bigger, better, and stronger" China's economic recovery appears to have stagnated, and the CCP's standing at home is still dependent on Xi Jinping's government realizing...

Saudi Arabia and Japan are strengthening their long-standing bilateral trade relations in the energy sector as both countries pursue common goals towards decarbonization and economic diversification. While the allied nations are moving closer in numerous areas, one critical sector in which both have a shared desire for growth is in the field of mineral development and mining. Both countries are looking to further invest in rare earth resources that are crucial in the production of electric vehicles. Their shared interest in this segment of the energy sector comes as demand for EVs increases amid a global push towards decarbonization. Announcements of expanded business relations between the two nations came on July 16 at the Ritz Carlton in Jeddah, when Japanese Prime Minister Fum...