News

World Bank upgrades global growth forecasts

Heather Scott, Agence France-Presse
Posted at Jan 10 08:12 AM

For the first time in many years, the World Bank's outlook for the global economy is better than expected rather than worse, with all regions seeing improved growth, according to its latest forecast released Tuesday. Read more »

IMF chief: Make reforms while sun shines on world economy

ABS-CBN News
Posted at Jan 01 08:20 AM

International Monetary Fund chief Christine Lagarde has urged France and other countries to push through reforms "while the sun is shining" on the global economy. Read more »

Minimum wage rises by 40 pct in Venezuela, stoking world's fastest inflation

Alexandra Ulmer and Corina Pons, Reuters
Posted at Jan 01 08:14 AM

Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation. Read more »

Hopes fade for TPP breakthrough in Vietnam

Martin Abbugao and Jerome Taylor, Agence France-Presse
Updated as of Nov 11 03:31 AM

Three days of talks have made little headway, despite premature reports late Thursday that an interim deal had been struck.  Read more »

Yen at 3-month low on Abe win, euro struggles with Spain

Wayne Cole, Reuters
Posted at Oct 23 08:23 AM

Japan's yen hit 3-month lows on Monday as an election win for the government gave a green light for super-easy monetary policy, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the bloc.  Read more »

World's most expensive food plates found in poorest countries: study

ABS-CBN News
Posted at Oct 19 09:36 AM

The most expensive plates of food can be found in some of the world's poorest countries, if based on how much of a person's daily wage is spent for a meal, according to an international study. Read more »

Trump casts protectionist shadow on World Bank, IMF: analyst

ABS-CBN News
Posted at Oct 16 09:16 AM

US President Donald Trump's protectionist stance has "shifted" the direction of the World Bank and the International Monetary Fund, an analyst said Monday. Read more »

Central bankers bet weak inflation won't last forever

Delphine Touitou and Douglas Gillison, Agence France-Presse
Posted at Oct 16 07:10 AM

The European Central Bank expects a pickup in inflation even though wages have remained weak during the current economic recovery, its vice president, Vitor Constancio, said Sunday. Read more »

Overcoming roadblocks, bitcoin takes flight again

Erwan Lucas, Agence France-Presse
Posted at Oct 13 07:26 AM

Bitcoin may be in for a sustained record run as it overcomes key obstacles, experts said Thursday after the cryptocurrency set a new record high. Read more »

Cartel holds the cards in oil market

Agence France-Presse
Updated as of Oct 12 05:03 PM

OPEC and its allies have regained some control over the oil market as their production limits have eroded the supply glut that caused prices to plunge, but the IEA warned Thursday further restraint is needed if this balance is to be maintained.  Read more »

World must 'seize the opportunity' of global recovery: IMF's Lagarde

Agence France-Presse
Posted at Oct 06 08:35 AM

International Monetary Fund chief Christine Lagarde said Thursday a worldwide economic recovery is taking hold, opening a window for countries to enact reforms aimed at attaining broader, lasting prosperity.   Read more »

'Our economy is not broken': UK finance minister defends capitalism

William James, Reuters
Posted at Oct 02 10:28 AM

British finance minister Philip Hammond will defend his Conservative Party's management of the economy on Monday, seeking to stave off rising support for the opposition Labour Party's vision of a more centrally-controlled state. Read more »

Philippines is world's 56th most competitive economy

ABS-CBN News
Posted at Sep 27 09:09 AM

The Philippines moved up a notch in the World Economic Forum's annual competitiveness ranking, with red tape, infrastructure and taxes among top drawbacks for investors. Read more »

Macron-style reforms key to growth: World Economic Forum

Agence France-Presse
Posted at Sep 27 08:27 AM

Policies promoting labor force flexibility, like those pushed through by French President Emmanuel Macron, are key to fostering a competitive economy, the World Economic Forum said in its flagship report on Wednesday.  Read more »

China a sweet spot for US companies’ earnings in Q2

Adam Jourdan, Reuters
Posted at Aug 14 07:30 AM

SHANGHAI - Trade tensions between Washington and Beijing may be running high but Corporate America is finding China to be a reliable source of profit growth this year. Read more »

IMF says global recovery on firmer footing

Heather Scott, Agence France-Presse
Posted at Jul 24 03:14 PM

The global economic recovery is on firmer footing as improving growth in China, Europe and Japan offset downward revisions for the United States and Britain, the International Monetary Fund said Sunday. Read more »

World Bank says trade, manufacturing to boost 2017 global growth

David Lawder, Reuters
Posted at Jun 05 07:39 AM

The World Bank on maintained its forecast that global growth would improve to 2.7 percent this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices. Read more »

World Bank Group, China-led AIIB agree to deepen cooperation

David Lawder, Reuters
Posted at Apr 24 07:59 AM

The World Bank Group and the China-led Asian Infrastructure Investment Bank said on Sunday they agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical work, development financing and country-level coordination. Read more »

Trump believes in 'reciprocal' free trade: Treasury chief

Agence France-Presse
Updated as of Apr 23 09:59 AM

The United States, which is considering new protectionist policies, believes in 'free and fair' trade, US Treasury Secretary Steven Mnuchin said Saturday. Read more »

IMF raises global growth forecast, warns against protectionism

David Lawder, Reuters
Posted at Apr 18 11:27 PM

The International Monetary Fund raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan and China, but warned that protectionist policies threaten to halt a broad-based recovery. Read more »