Finance minister to attend annual IMF, World Bank meetings
Finance minister to attend annual IMF, World Bank meetings
IMF warns trade friction, market turmoil to hurt Asian growthsitename%%
12 October, 2018, 11:45
The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was forecasting for 2018 in July.
Thor Equities CEO Joe Sitt on the increasing USA trade tensions with China. The fund expects U.S. economic expansion to peak at 2.9 per cent this year and start to slow down next year as the economic stimulus introduced in the wake of the 2008 global credit crisis begins to wind down and tariff impact begins to hurt.
Growth of less than five percent would be unprecedented for China since it began its economic reforms in the 1970s, and complicate its efforts to move towards a more balanced economy with a greater role for services.
Pakistan is also seeking fresh loans from China, which has already heavily invested in joint transport and energy sectors in Pakistan.
If projections are true, then India would regain the tag of fastest growing major economies of the world, crossing China with more than 0.7 percentage point in 2018 and an impressive 1.2 percentage point growth lead in 2019.
Obstfeld spoke at the World Economic Outlook press conference in Indonesia, where the global body focused on the growth of the Asian economy.
"If you have the world's two largest economies at odds, that is a situation in which everyone, everyone is going to suffer", International Monetary Fund chief economist Maurice Obstfeld said Tuesday.
A strong U.S. economy has also hastened an increase in interest rates.
While the global economy is still on track to match last year's pace, which was the strongest since 2011, the new outlook suggests fatigue is setting in and the overall performance masked divergence with mounting weakness in emerging markets from Brazil to Turkey.
Mr Obstfeld said: "Governments have less fiscal and monetary ammunition than when the global financial crisis broke out ten years ago".
The US dollar gained by over Rs9 to touch the new high in the open market, while in the interbank market it rose by Rs10 to reach Rs134.
The IMF announced it had reduced its outlook on the global economy to a 3.7% growth rate for this year and next, down 0.2% from what it had originally predicted in July. The revised figures are partly because of a contraction in Iran on the back of U.S. sanctions.
The IMF expects a 2.9 percent growth outlook on the USA economy, but thinks growth will shrink to 2.5 percent for 2019, attributing to the slowdown to the country's escalating trade war with China. Obstfeld, who retires from the Fund later this year, said there were bright spots with some Latin American and African nations getting growth forecast upgrades.
The Swiss figures go against the current global economic growth trend, which the International Monetary Fund has reduced from its previous estimate of 3.9% to 3.7% for 2018 and 2019. Instead, the Chinese maintain, they have boosted the country's economic growth and provided 70,000 jobs.
Ben Smith, Google's VP of Engineering, disclosed more information about the security issue, and how it was discovered. Google also announced launch of more granular Google account permissions that will show in individual dialog boxes.
For now, NASA hasn't offered any timeframe on when can we expect Hubble Space Telescope to come back into operation. That's the error engineers are working to fix now, with the instrument in safe mode to allow them to run tests.
"I've never played for the France team to be captain, already being here is a big thing for me" Pogba said. The France global believes he is capable of being a leader at United without having the captain's armband.
Two of those misses came in overtime, and a fed-up coach Mike Zimmer released him the next day and replaced him with Bailey. Cousins credited offensive coordinator John DeFilippo, who was Philadelphia's quarterbacks coach the past two seasons.
Recent data from the Ghana Health Service has revealed that about 41 percent of Ghanaians have some form of psychological illness. Mental Health Week will climax on October 13 with a 20/20 cricket match at the Police Recreation Grounds from 9 a.m.
The New York Times reported that Michael was downgraded to a tropical storm at midnight, after leaving much of the coast in ruins. Heavy rainfall will drench Florida's Panhandle, Alabama, Georgia and SC ; up to 12 inches is possible in isolated locations.
However, after starting in 46 of a possible 48 games over his first three seasons, Flowers saw his play time fall this year. This year did not begin well for Flowers under the new regime led by general manager Dave Gettleman.
Without actually getting the chance to properly put those four lenses through their paces, it's impossible to assess the A9. Unlike the recently launched Galaxy A7 , the new Galaxy A9 still sports a rear-facing fingerprint sensor.
Unprecedented? This could be the first time a 4 or stronger hurricane has ever made landfall in the Florida panhandle, per TWC. It appeared to be so powerful that it was expected to remain a hurricane as it moved into Alabama and Georgia early Thursday.
Britain's Brexit minister, Dominic Raab, could also come to Brussels then if weekend talks cover enough ground. The issue of the Irish border, the major sticking point, was "close to being settled", it said .
US President Donald Trump meets with rapper Kanye West in the Oval Office. "I love this guy", Kanye declared in the Oval Office. West said he was diagnosed with bipolar disorder, but then that he was misdiagnosed, and was simply sleep-deprived.
The worst of the winds will impact on Friday morning rush hour, people will be travelling in Scotland for October holidays. There is also the risk of further severe Southerly winds impinging onto Southern and Eastern coastal areas during the day.
Kanye: 'Trump hat made me feel like Superman'
But the campaign "I'm With Her" just didn't make me feel, as a guy that didn't get to see my dad all the time ... He also praised Trump for his handling of North Korea, and said critics needed to be kinder to the President.
Samsung Galaxy A9 launches with four rear cameras
The Galaxy A9 (2018) also supports Bixby, Samsung Pay and Samsung Health apps as seen on other high-end Galaxy devices. The Korean company's new phone will also feature mobile payment capabilities and expandable storage of up to 512GB.
Dow drops 545 points as stock market slide continues
The 10-year Treasury yield rose to 3.22 percent from 3.20 percent late Tuesday after earlier touching 3.24 percent. The Russell 2000 index of smaller-company stocks fell 30.03 points, or 1.9 percent, to 1,545.38.
South Korea walks back on possibly lifting sanctions on North
An editorial titled "Kang flubs it" described her comments as "shortsighted" and said the paper was "dumbfounded" by her remarks. But increasingly North Korean ships have been spotted at foreign harbours, which the United Nations sanctions forbid.
Banksy Painting: Who Knew It Was 'Self Destruct'?
A buyer would not normally be expected to go through with the purchase if a work is damaged while in the care of an auction house. The video is captioned with a quote by the Spanish artist Picasso, who had said the urge to destroy was also a creative urge.