The global job market is unlikely to recover before 2023. The global employment rate will take time to recover to pre-pandemic levels. The International Labour Organisation (ILO) warned that economies across the globe would suffer an equivalent of fifty-two million fewer jobs. Why will the global job market take longer to recover? Compared to 186
China’s economic growth increased by 8.1 percent in 2021 according to data released by China’s National Bureau of Statistics (NBS). This is due to the rise in industrial production during the year-end. With this increase, the country also experienced a drop in retail sales in several sectors states the report. GDP for the fourth quarter
Federal Reserve Chair Jerome Powell testifies in a confirmation hearing before Congress. Powell says, “we will raise interest rates if we have to.” The confirmation hearing is in light of Powell running the Fed for a second four-year term. Fed Powell suggests raising interest rates to tackle high inflation Former President Trump nominated fed Powell
World Bank has estimated an 8.3% growth in the Indian economy in FY22 and 8.7% in FY23. Compared to India’s immediate neighbours, the Indian economy rate is more vigorous. Indian Economy Grows at 8.3% in FY22 The Global Economic Prospects report expects the Indian economy to grow at 8.3%. The forecast also predicts for FY
The severe inflation in Sri Lanka’s economy has raised food prices to record levels, run the coffers dry, and sunk half a million people into poverty. This escalated financial crisis could lead Sri Lanka to bankruptcy in 2022. While the pandemic contributed to Sri Lanka’s escalated financial crisis, tax cuts and high government spending are
The Government of India has decided to restrict Mother Teresa’s charitable organization from acquiring any foreign donations or funds. When Mother Teresa moved to India from Macedonia, she started a charity-based organization. Later, that organization became a world-renown for its efforts in supporting the country’s abandoned children, schools, and clinics. Today, missionaries of this charity
Debt-ridden Bangladesh a few years ago is now a country of unprecedented success in debt relief. The world today looks at Bangladesh in amazement. Bangladesh only borrowed from other countries or organizations. Now that history has changed and started giving loans. Bangladesh has given loans to Sri Lanka and Sudan. Bangladesh gave a loan to
Bangladesh’s ability to spend money has increased even earlier. Ability to borrow and repay foreign loans has also increased. In the meantime, Bangladesh has also written its name in the list of middle-income countries. Top 10 Mega Projects in Bangladesh such as Padma Bridge, Dhaka Metro Rail, Dhaka-Chittagong Elevated Expressway, Dhaka to Chittagong Express Railway, Dhaka-Sylhet 4
The Department of Economic Affairs India has released a monthly economic report for April-June quarter (Q1) FY 2021-2022. Despite a more brutal second wave India sees resilient v-shaped recovery. Having posted an almost 180 degree turn around from a sharp contraction in Q1 of FY 2020-21, to recover more than 90 per cent of the pre-pandemic
Covid exploded inequality, boon for billionaires: Oxfam report
More than 16 crore humans were pushed into poverty and roughly 99 percent of people around the globe had diminished income during the pandemic. But it was a stark opposite scenario for the rich. The pandemic saw the 10 richest people of the world more than double their fortune to 1.5 trillion USD, at a