UN downgrades Indias GDP growth forecast to 7.3% in 2017
The Dollar Business Bureau The United Nations (UN) has revised India’s GDP growth forecast downward for 2017 but projected an increase in 2018 predicting 7.9% economic growth as it warned that the banking sectors’ stressed balance sheets will have adverse impact on investments in the short-term. The UN World Economic Situation and Prospects (UNWESP) in its mid-2017 report, launched on Tuesday, said that India is predicted to achieve a growth of 7.3% this year, downward from its earlier forecast of 7.7%, which it made when the report was launched in January. However, the revised report forecast that the country will achieve a notable 7.9% GDP growth next year, from its earlier estimates of 7.6% made in the January report. The report, however, cautioned that stressed balance sheets of India’s banking sector, which has ...
Positive outlook for East Asia: World Bank
The Dollar Business Bureau A World-bank half-yearly forecast of East Asian and Pacific (EAP) markets predicts that the markets would expand at 6.2% in 2017 and 6.1% in 2018. The report covers countries such as China, Mongolia, Papua New Guinea, Indonesia, Myanmar, Philippines, and Vietnam attributes the gradual recovery in the economies to steadying commodity prices and reducing poverty. The study combines various parameters to conclude on the overall growth in the EAP region. The report is unique as its findings are in stark contrast over other media-reports that have shown a sharp decline in the Chinese economy. Growth in China is anticipated to moderate from 6.7% in 2016, 6.5% in 2017 and 6.3% in 2018, owing to the government’s rebalance toward consumption ...
Indias services exports likely to triple by 2030: HSBC
The Dollar Business Bureau Services exports from India are likely to grow more than three-fold by 2030, increasing the country’s share to 4% in global services exports, according to a report by a leading international bank. Though the speedy growth rates of double-digit during 2001-08 are not expected to resume, exports of services are estimated to grow at a healthy rate of 8-9% year-on-year (y-o-y) basis in the coming 15 years, said HSBC in a report on India trade. While China and the US will remain the dominant export partners of India, we expect a shift towards the emerging markets. In the short-term, services exports to Turkey are expected to increase at a strong pace, led by increasing demand for exports of financial ...
WB says slow East Asia Pacific economic growth
The Dollar Busiess Bureau The World Bank on Monday trimmed economic growth prospects of developing East Asia and Pacific for the year 2016 and 2017, citing global risks such as volatile global financial markets, a mild growth in high-income economies, slowdown across developing markets, weak global trade, and further fall in commodity prices. The global institution, in its “East Asia Pacific Economic Update, April 2016” report, forecasted economic growth in East Asia and Pacific to fall modestly, from 6.5% in 2015-16 to 6.3% in 2016-17 and 6.2% in 2017-18. For China, as The World Bank projected, the growth will be relatively slower but more sustainable, at 6.7% in 2016-17 and 6.5% in 2017-18 from 6.9% in 2015-16. The Washington-based body, however, insisted the countries ...
India, South Korea ink deal to enhance air connectivity
The Dollar Business Bureau India and South Korea have signed an agreement to enhance air services that include increasing the number of flights from 6 to 19 per week and granting additional points of call at Indian airports for the operators of east-Asian country. As per the agreement, South Korean flight operators will be able to access more Indian airports, add passenger capacity for travelers between two countries and use each other as stop-overs to fly to further destinations. Apart from Tokyo and Los Angeles, two additional beyond points of call- Seattle and Vancouver—have been granted for Indian carriers. This will make air services for Indian carriers to the above destinations more economical. Besides, Indian carriers can offer additional options to ...
Greater integration could boost intra-South Asian trade
The Dollar Business Bureau South Asia will be the fastest growing region in Asia and the regional cooperation and integration in South Asia is vital for countries to improve competitiveness and productivity, said Takehiko Nakao, President, Asian Development Bank (ADB). The ADB president was speaking at the Informal Meeting of the South Asian Association for Regional Cooperation (SAARC) Finance Ministers in Baku, Azerbaijan. Referring to the ADB’s recently released Asian Development Outlook, the ADB president said, “The South Asian Economy is expected to grow by 7.6% in 2016 and 7.7% in 2017.” And, this positive outlook can further be enhanced by at least half a percentage point through accelerating regional integration, he said. “A greater integration could generate more than US$ ...
Stable rupee, improving economic growth wooing investors to India: Expert
The Dollar Business Bureau Global investors are showing strong interest in India with more inquiries for investment portfolios, a Singapore-based top corporate official has said. "We have multiple conversations with pension funds, insurance companies, private banks and family offices of the rich people with trust-type of investment outfits," said the UTI International CEO Praveen Jagwani. Jagwani sees investors' interest further improving as the Indian economic growth picks up and the rupee stabilises.UTI International has USD 2.15 billion worth of assets under its management, a significant built-up as its Singapore business started seven years ago. "We are educating global investors about opportunities in India," he said, underlining UTI's ongoing engagement with global investors. "Our role as an international ...
