World economy
Here are the new 2022 growth forecasts for 21 countries
The IMF cut its global growth forecast for 2022 because of the Ukraine war, but some countries are affected worse than others. VCG | Visual China Group | Getty Images IMF 2022 growth projections Country 2022 real GDP forecast India 8.2% Saudi Arabia 7.6% Spain 4.8% China 4.4% Australia 4.2% UAE 4.2% Singapore 4.0% Canada […]
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Young people are saving money and paying off debt through ‘cash stuffing.’ Here’s how it works
As news of soaring gas prices splashed across headlines, Yasmine Camilla saw her energy bill double “almost overnight.” Filling up the tank now costs 30% to 40% more, she says. But this rising cost of living is something she would never have noticed eight months ago. “I had always just filled up my car when […]
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One dead after police fire on protesters in Sri Lanka amid bailout talks with IMF
Mounting frustration over inflation, scarcity and lengthy power cuts brought demonstrators in the Sri Lankan capital Colombo on Monday. Angry protestors called for the resignation of President Gotabaya Rajapaksa and his brother, Prime Minister Mahinda Rajapaksa. Buddhika Weerasinghe | Bloomberg | Getty Images Sri Lankan police fired live ammunition to scatter protesters on Tuesday, killing […]
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IMF cuts global growth forecasts on Russia-Ukraine war, says risks to economy have risen sharply
A view of damage in the Ukrainian city of Mariupol under the control of Russian military and pro-Russian separatists, on April 17, 2022. Anadolu Agency | Anadolu Agency | Getty Images The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, saying the economic hit from Russia’s unprovoked invasion of […]
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Battle for Donbas: 3 reasons why Russia is shifting its war machine to east Ukraine
A tank belonging to pro-Russian rebels is seen in separatist-controlled Donetsk, Ukraine on March 11, 2022. Anadolu Agency | Anadolu Agency | Getty Images The “battle for Donbas” looks to be underway in Ukraine, as Russia concentrates its war machine on the eastern region — a major strategic, political and economic target for the Kremlin. […]
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Soaring inflation is hitting retirement savings hard. Here’s how best to manage yours
Brianajackson | Istock | Getty Images As inflation soars to record highs, retirement savings are feeling the pinch, making it even more important to make sure yours is working for you. U.S. inflation rose 8.5% annually in March to hit a fresh 40-year high as the war in Ukraine pushed up energy costs, the latest […]
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Investors turn cautious on Chinese stocks amid growth concerns
While mainland Chinese stock fund held onto inflows, European stock funds saw billions of dollars in net outflows in the first quarter, with declines in Japanese stock funds as well, according to EPFR. Marc Fernandes | Nurphoto | Getty Images BEIJING — Investors turned increasingly cautious on Chinese stocks, especially those listed overseas, in the […]
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U.S. Treasury Secretary Yellen to meet with top finance ministers to address global food crisis
U.S. Treasury Secretary Janet Yellen makes a speech about the current and future state of the U.S. and global economy at the Atlantic Council in Washington, April 13, 2022. Leah Millis | Reuters Treasury Secretary Janet Yellen will this week meet with ministers from the globe’s leading industrial nations to address a growing international food […]
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Shanghai reports first Covid deaths since the start of its latest lockdowns
Shanghai, China’s largest city and the one hit hardest by the latest Covid outbreak, announced another round of mass virus testing that’s set to end Thursday, April 21. Str | Afp | Getty Images BEIJING — Shanghai city reported Monday its first Covid-related deaths since the latest wave of lockdowns began in earnest in late […]
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China’s first quarter GDP beats expectations to grow 4.8% year-on-year
A traffic police officer prepares to check a truck at a service station near Shanghai, which has ordered tighter restrictions on travel in and out of the city as China battles its most severe Covid outbreak since the early days of the pandemic in 2020. Yin Liqin | China News Service via Getty Images BEIJING […]
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