Advanced economies will be back on track by 2024, but developing economies will be 5 per cent below where they would have been otherwise, IMF's Gita Gopinath said on Wednesday. Economies worldwide have been adversely impacted by the coronavirus pandemic and are slowly coming back into the recovery path. The First Deputy Managing Director of the International Monetary Fund said the war in Ukraine has been a major setback to the global recovery.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
'All options are there on the table. Yesterday when this terror attack was conducted, we celebrated the 29th anniversary of the full establishment of diplomatic relations between Israel and India, exactly yesterday. So, it may not be a coincidence but all options are being investigated'
The Israeli ambassador said the efficiency of the agriculture sector as a whole will increase with the new legislations and consumers will also enjoy better and fresh crops.
Khan also said Pakistan has decided to partner any other country only for peace and named the partnership with the US as the one.
Underlining that years of economic stagnation have given way to a "roaring geyser of opportunity", Trump said, "I knew that if we unleashed the potential of our people, cut taxes, slashed regulation, fixed broken trade deals and fully tapped American energy that prosperity would come thundering back ... and that is exactly what happened."
China and India evoked the highest levels of confidence among major economies at 45 per cent and 40 per cent, respectively. The US was at 36 per cent, Canada at 27 per cent, the UK at 26 per cent, Germany at 20 per cent, France 18 per cent, and Japan having the least optimistic CEOs with only 11 per cent very confident of growing revenues in 2020.
For the first time, more than half of the CEOs surveyed by global consultancy PwC said they believe the rate of global GDP growth will decline. In comparison, the survey had found a record level of optimism among CEOs two years ago in 2018.
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
It was because of strong inflows into debt-oriented schemes that saved 2019 from being a "dark-dull year of investing" as inflows into equity funds has dropped this year due to a volatile market.
This next phase of globalisation needs to deliver economic growth so that it is equitable: Nadella.
Hard selling India as an investment destination at the WEF, Modi said the government is following the principle of reform, perform and transform.
Under the tagline of 'India means business', the roundtable was attended by 40 CEOs of global companies and 20 from India.
Modi, the first Indian prime minister to attend the summit in two decades, would deliver the opening plenary address at the summit on Tuesday.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
"We have tweeted that the two leaders discussed a range of issues. A range of issues means a range of issues. I don't want to add anything further... I leave it to you to draw your conclusion," external affairs ministry spokesperson Gopal Baglay said.
The two-day G20 Summit saw the Indian side making "significant contributions" on resolve to counter terrorism and boost global trade and investment.
Mallya has been in the UK for months, escaping arrest warrants against him.
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