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China economic slowdown to continue for the next four years, says IMF
BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly aging population, the International Monetary Fund (IMF) said on Friday. The world's second-largest economy last year saw some of its slowest growth in decades, as a...
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Samsung Q1 profit falls 95%
This is firm's worst quarterly profit since Q1 2009. -
US Federal Reserve’s rate hike risky and ill-timed
"It appears that the central bank is willing to sacrifice parts of the economy and tighten its grip on households and businesses to combat inflation. However, this strategy risks doing more harm than good. It is crucial now that they refrain from further rate hikes to salvage their own credibility,"... -
Interest rate hikes adversely affect developing countries, says UN
The global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action to ward off catastrophe. In a fresh report, the United Nations Conference on Trade and Development cautioned that poorer countries were expected to suffer as higher interest rates eat away... -
UAE, Saudi Arabia provide Pakistan $4bn lifeline to tide over its economic woes
The UAE pledged to roll over $2 billion in debt due over the next two months, with an additional $1 billion pledged during Prime Minister Shehbaz Sharif's ongoing visit to the emirates. -
OPEC revises oil demand projection to 3.1mn barrels a day
The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC secretary general.