The International Monetary Fund is upgrading its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services, from airline travel to restaurant meals. Overall, the IMF said that it still expects the world economy to grow a lackluster 3.2 per cent this year, unchanged from its previous forecast in April and down a tick from 3.3 per cent growth in 2023. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8 per cent a year.
Business & Economics
India waives duty on critical petrochems amid West Asia war
New Delhi (TIP): The government has exempted import of critical petrochemical products from customs duty to ensure supply stability and provide relief to consumers of final products amid the West Asia war. The duty exemption, […]
Business & Economics
Nvidia to invest $5 bn in struggling Intel
Nvidia announced on Thursday it will invest $5 billion in Intel through a strategic chip partnership that signifies one of Silicon Valley’s most strategic power shifts. As per the deal, Nvidia will purchase Intel stock […]
Business & Economics
US core inflation stays firm with fourth-straight 0.3% increase
New York (TIP)- US consumer prices continued to rise in November at a pace that is fueling concerns the progress toward taming inflation is stalling. The so-called core consumer price index — which excludes food […]
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