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Saturday, July 11, 2020

IMF: Outlook for global economy ‘remains sluggish’ as it cuts growth forecasts

The Washington-based institution forecast in October a global growth rate of 3% for 2019 and of 3.4% for 2020. The IMF has now revised down those forecasts to 2.9% and 3.3%, respectively. ...

Oil markets could face oversupply in 2020, the IEA says

In its latest monthly report, the Paris-based agency cut its oil demand growth figure by 100,000 barrels a day for both 2019 and 2020. Oil demand is expected grow 1.2 million barrels a day in 2020, IEA said in the...

Singapore’s not going into a recession ‘at this point,’ trade minister says

Singapore’s economy — often seen as a bellwether for global growth — avoided a technical recession after growing by 0.6% in the third quarter, compared to the previous three months. Asked if Singapore can avoid a recession,...

Fitch predicts negative 2020 global shipping outlook

• Large vessel delivery hit a record high in 40 years The year 2020 may not be so rosy for the shipping sector, going by a new report by Fitch Ratings, which predicted that the ‘shipping outlook is negative”. The rating agency noted that several factors...

The current bond yield stagnation mirrors late-1800s ‘long depression,’ economist suggests

TS Lombard compared the current persistent low-rate equilibrium and market hysteresis against the Bank of England’s historical database to analyze past “secular real-rate depressions” and what event triggered their reversal. The current “secular stagnation” for bond yields offers close parallels to...

SSA’s growth to slump to all time low of -5.1%, to drop into first recession in 25 years- World Bank says

  The World Bank, on Thursday, projected a very bleak outlook for African economies in the face of the increasingly devastating impact of the Coronavirus pandemic. It said Sub-Saharan Africa’s (SSA’s) growth will slump to all time low of -5.1% this year, thereby pushing the...

Citi sees no trade deal before 2020 election

Trade negotiations between the U.S. and China broke down last month. Investment bank Citi said on Wednesday that it sees “no deal before the 2020 US election.” As the trade war continues, Citi expects...

Christine Lagarde expected to change ECB inflation target

Majority of economists surveyed believe strategic review will shift central bank policy Christine Lagarde is expected to significantly change the European Central Bank’s inflation target for the first time in more than 16 years as part of next year’s strategic review, according to economists polled...

Concerns mount as $250 trillion debt burden weighs on global economy in 2020

Concerns about global debt are heightening from the office of World Bank President, David Malpass, as the obligations exceeded a $250 trillion mark in 2019. But critics said it’s an irony, especially from a person who made his reputation at Bear Stearns of all...

Citi sees markets in a ‘stalemate’ over the next 12 months as bulls and bears

Elliot Smith @ELLIOTSMITHCNBC KEY POINTS In its quarterly global equity report, Citi strategists said they would not be chasing markets higher from current levels, but would prefer to wait for the next dip. Separately, RBC Capital Markets strategist Peter Schaffrik told CNBC the big question markets would like...
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