19
Saturday
October 2019
8:12 PM IST
News Headlines
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha        PM Modi has no understanding of economy: Rahul        INX Media: Chidambaram conspired with son, misused official position, says CBI charge sheet        US dream shattered, 311 Indians land in Delhi after deportation from Mexico        US to host 2020 G7 summit at a Trump golf resort        Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria        Twin blasts in Afghanistan''s mosque kill 62        China''s Q3 GDP growth slows to 6%, slowest in 27 years        Ranchi Test: India eye clean sweep against Proteas        Pakistan sacks Sarfaraz as captain in Test, T20I formats        Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt        BSF jawan killed, 1 injured in firing by Bangladeshi troops along border in West Bengal        At least 35 people killed in bus accident in western Saudi Arabia        UK, EU hail new Brexit deal, but Parliament sign-off hangs in balance        Nearly 100 people injured in Catalonia unrest on Wednesday: Medics        Indo-Pak bilateral ties subject to approval from PMs of both countries: Ganguly        Aiden Markram ruled out of Ranchi Test with wrist injury        Indian challenge ends at Denmark Open        Aussie cricketer Watson apologies for 'illicit' social media posts        India's performance was no match to atmosphere at Salt Lake: Chhetri        
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Business News
New IMF chief says trade tensions could cut global GDP by 700 bln USD
 
Washington: Trade disputes are taking a toll on global economy, substantially weakening manufacturing activity and investment and holding back economic potential, Kristalina Georgieva, the new chief of the International Monetary Fund (IMF), said on Tuesday. "For the global economy, the cumulative effect of trade conflicts could mean a loss of around 700 billion U.S. dollars by 2020, or about 0.8 percent of GDP," the IMF managing director said at an event at the global lender''s headquarters ahead of the annual meetings of the IMF and the World Bank next week.

"As a reference, this is approximately the size of Switzerland''s entire economy," said the Bulgarian economist, who succeeded France''s Christine Lagarde and took office on Oct. 1. The U.S.-China trade conflict has not only increased direct costs on businesses and consumers, but also caused secondary effects, such as the loss of confidence and market reactions, said Georgieva, who is the former chief executive officer of the World Bank. "The results are clear. Everyone loses in a trade war," said Georgieva.

"So we need to work together, now, and find a lasting solution on trade." Noting that the global economy is in a "synchronized slowdown," the new IMF chief called for a "synchronized policy action" to accelerate growth and build more resilient economies. Policy priorities, she said, include using monetary policy wisely and enhancing financial stability, deploying fiscal tools to meet current challenges, implementing structural reforms for future growth, and embracing international cooperation. Georgieva, who has been a champion in the global fight against climate change, also said one of the priorities of the IMF is to assist countries as they reduce carbon emissions and become more climate resilient, urging countries to adopt "a significantly higher carbon price."

New research at the IMF confirms that carbon taxes can be one of the most powerful and efficient tools, Georgieva said. "But the key here is to change tax systems, not simply add a new tax," she added. "I am confident that if we cooperate -- mindful of each other''s challenges and interests -- we can deliver a better future for all," she said.


China''s Q3 GDP growth slows to 6%, slowest in 27 years
High-level Indian, Bangladeshi delegations to meet next week
Adani Wilmar launches ready-to-cook ''Khichdi''
Sebi levies Rs 30 lakh fine on 4 firms for fraudulent trading
HAL employees' strike continues, unions reject mgmt
Rupee slips 20 paise to 71.22 vs USD in early trade
SBI lowers rates on non-repo-linked loans by 10 bps
Sensex, Nifty cautious in early trade amid weak global cues, fund outflows
Sitharaman to inaugurate national tax e-assessment centre on Monday
FinMin to kick-start budgetary exercise from Oct 14
Andhra Bank opens SGB scheme 2019-20 Series-V
Migsun Group to invest Rs 900 crore on housing project in Ghaziabad
RBI rate cut to complement government's measures to boost growth: Finmin
RBI's rate cut reflects India's ambition to boost economic growth: Niti
Maruti Suzuki''s NEXA touches one million hearts
Rupee recovers from day''s lows, settles 20 paise higher at 70.87
34 functional teams to smoothen merger of UBI, PNB, OBC
PMC case: ICAI to check role of auditors
RCEP trade ministers to meet in Bangkok on Oct 10-12
Ashok Leyland sales dips 55 pc in Sep at 8,780 units
KERALA NEWS
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha
 Alappuzha: Netherlands'' King Willem-Alexander and Queen Maxima, who are on a two-day visit to Keral  
Scribe's death:Kerala IAS officer's suspension extended
Kerala's CPI to discuss Vedas and Marxism in seminar
Kerala Assembly session from Oct 28
INTERNATIONAL NEWS
US to host 2020 G7 summit at a Trump golf resort
 Washington: The G7 Summit in 2020 would be held at President Donald Trump''s golf resort in Florida
Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria
Twin blasts in Afghanistan''s mosque kill 62
At least 35 people killed in bus accident in western Saudi Arabia
NATIONAL NEWS
PM Modi has no understanding of economy: Rahul
 Mahendragarh: Congress leader Rahul Gandhi on Friday alleged that Prime Minister Narendra Modi has n
US dream shattered, 311 Indians land in Delhi after deportation from Mexico
Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt
Senior Odisha BJP leader Damodar Rout quits party
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