Jul
22
Do we need the nuclear deal with the US?
Filed Under Globalization, Indian Economy, World Economy | Leave a Comment
The new nuclear bargain means different things to different people, both here and in the United States — a case of the elephant and the blind men!
Dire consequences to our national security are forecast by our strategic community because we would have access to nuclear power trade and international cooperation.
So the first [...]
Jul
17
Developing World Has Big Inflation Problem
Filed Under Globalization, World Economy | Leave a Comment
The U.S. and Europe have caught the inflation blues, but emerging economies have a full-blown case of inflation fever.
Global inflation is set to rise from 3.5% to 5.8% this year, the highest in nine years, says Merrill Lynch. Nearly two-thirds of the increase will come from emerging markets.
Bourses have been hit hard in developing countries [...]
Jul
17
Slowing exports curb China growth
Filed Under World Economy | Leave a Comment
Chinese economic growth slowed in the second quarter of 2008, constrained by slowing demand for exports, rising prices and the high cost of credit.
The National Bureau of Statistics said the economy grew at an annual rate of 10.1% in the three months to June, down from 10.6% over the previous quarter.
If it keeps growing at [...]
Jul
17
World oil prices rebounded in Asian trade on Thursday after sharp falls on a bigger-than-expected rise in US crude reserves, analysts said.
New York’s main futures contract, light sweet crude for August delivery, had dropped more than USD 10.50 over two days.
On Thursday the benchmark contract rose 23 cents to USD 134.83 a [...]
Jul
16
Oil trades under US$ 139 per barrel
Filed Under World Economy | Leave a Comment
Oil was steady on Wednesday, after falling more than $6 in the previous session, the steepest slide in dollar terms in 17 years as demand fears swelled on the worsening prospects of the US economy.
US crude was 13 cents higher at $138.87 a barrel by 0105 GMT, off a low of $135.92 overnight [...]
Jul
14
Oil prices fell by more than USD 1.50 in Asia on Monday after supply worries helped push prices to a record high last week.
New York’s main oil contract, light sweet crude for August delivery, fell USD 1.65 to USD 143.43 a barrel.
The contract hit an intra-day peak of USD 147.27 before closing [...]
Jul
13
IT sector growth may dip in 2008-09
Filed Under Economic Growth, Indian Economy, World Economy | Leave a Comment
The Indian IT industry, which has been clocking impressive growth rate in recent years, is likely to see a slow down in the next fiscal due to competition from China, the Philippines and Sri Lanka, industry body NASSCOM has said.
The growth rate might come down by six per cent due to the competition [...]
Jul
4
India on Thursday trashed the West’s contention that demand from developing economies such as India was responsible for the spurt in international oil prices, saying India and China account for less than one-eighth of the world’s consumption.
“With steadily declining energy intensity, both (China and India) are registering rapid economic growth with less than proportionate increase [...]
Jul
1
Oil prices jumped beyond 141 dollars a barrel on Tuesday after the president of OPEC said there was uncertainty surrounding future investment in facilities to boost crude output.
New York’s main oil contract, light sweet crude for August delivery, was up 1.40 dollars at 141.40 dollars a barrel at about 0820 GMT.
Brent [...]
Jul
1
Poor, landlocked countries remain on the economic fringe, UN official says
Filed Under Economic Development, World Economy | Leave a Comment
Landlocked developing countries remain marginalized in the global economy, despite increased development aid, debt relief and greater access to international markets, the United Nations envoy for the world’s poorest nations said today.Cheick Sidi Diarra, the UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS), told the opening [...]