Chief Economists Anticipate Global Economy to Weaken in 2024: WEF Survey
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While the outlook for South Asia and East Asia-Pacific remained positive, China emerged as an exception with a smaller majority (69%) expecting only moderate growth. Globally, a strong majority predicted labor markets (77%) and financial conditions (70%) would loosen over the coming year.
Finland's economy to slip into recession
IANS -
In its forecast,  the OP Financial Group (OP), one of the largest financial companies in Finland, said Scandinavian country's economy is expected to contract by 0.3 per cent in 2023 and remain stagnant in 2024, reports Xinhua news agency.
Ukraine dam breach to have disastrous economic, ecological consequences: Expert
IANS -
"Up to 1 million people may face drinking water problems," Oleksii Kushch, an economist at "United Ukraine" think-tank, told Xinhua in an interview. The breaching of the dam and the subsequent destruction of a hydro-electric power plant in the Russian-controlled Nova Kakhovka region in the early hours of Tuesday.
Canada launches category-based selection for Express Entry candidates
IANS -
Minister of Immigration, Refugees and Citizenship, Sean Fraser, announced on Wednesday the first-ever launch of category-based selection for Canada's flagship economic immigration management system, Express Entry. This year, category-based selection invitations will focus on candidates who have a strong French language.
China using its currency to insulate against future sanctions
IANS -
In the last year, a drive to insulate China's economy from dollar-based sanctions has emerged as possibly the most important incentive for decoupling from the dollar, as China looks to prepare for the possibility of conflict with Taiwan. After Russia's invasion of Ukraine, one of the most powerful tools for inflicting economic harm.
Turkey's Erdogan launches reelection campaign
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"We will reduce the inflation to single digits again, and definitely, we will save our country from this problem," Erdogan told his supporters at the election campaign ceremony in the capital of Ankara, Xinhua news agency reported. When elaborating on his party's election manifesto, Erdogan said the ruling Justice and Development Party's (AKP) aimed to achieve annual economic growth of 5.5 per cent between 2024 and 2028, raising gross domestic product to $1.5 trillion by the end of 2028.
Business confidence in Pakistan at record low
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"Last year's political instability has carried over to combine with various economic crises and exacerbated business insecurity," Dawn news quoted the survey as saying. Wave-9 of the survey is based on interviews with around 520 business owners conducted in the first quarter of 2023 across Pakistan.
Pakistan admits gloomy outlook for economy
IANS -
In its monthly outlook report, the economic adviser wing of the finance ministry also said that political instability has started feeding strong inflationary expectations, The Express Tribune reported. While holding back its inflation forecast figure for the outgoing month, the finance ministry painted a gloomy outlook of the economy.
South Korea, US set for 'largest-ever' live-fire drills
IANS -
Just 23,179 babies were born in January this year, sinking 6 per cent from a year earlier, according to the data from Statistics Korea. It marked the lowest number for any January since the statistics agency started compiling monthly data in 1981. The number of babies born in South Korea has been falling on-year for 86 consecutive months.
Childbirths in South Korea plunge to new low
IANS -
Just 23,179 babies were born in January this year, sinking 6 per cent from a year earlier, according to the data from Statistics Korea. It marked the lowest number for any January since the statistics agency started compiling monthly data in 1981, reports Yonhap News Agency. The number of babies born in South Korea has been.
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