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31.12.2017 14:21 Chinese cities` GDP swell by 2035 but can`t beat NY, Tokyo, London

China`s four economic centers, Shanghai, Beijing, Guangzhou and Tianjin, will be among the world`s 10 largest cities in terms of gross domestic product by 2035, but they will still trail New York, Tokyo and London, according to the latest forecast by Oxford Economics. The U.K. research company with links to Oxford University examined how 780 large cities in the world -- which account for 35% of the world population and 59% of global GDP in 2016 -- will change in terms of economic growth by 2035. The aggregate GDP of the 780 cities is expected to increase at an average of 2.9% annually. "Many of today`s emerging market cities, particularly in Asia, will continue to progress along the development path and the balance of urban economic power will shift further east," the report summarized. China is likely to be the growth center over the period. Shanghai will climb five positions to 5th, topping Paris, while Beijing will go up nine places to 6th in 2035. Guangzhou and Tianjin will also jump to 8th and 10th position from 22nd and 27th in 2016, respectively.

28.12.2017 15:51 World`s Richest Accumulated US$1 Trillion in 2017

World`s richest people nearly quadrupled their wealth reaching US$1 trillion in 2017, as the soaring stock markets aided the process, a new report indicates. Per the Bloomberg Billionaires Index, Amazon`s founder, Jeff Bezos added the most, US$34.2 billion this year replacing the richest person, Microsoft Corp. co-founder Bill Gates as world`s richest person in October, raising his "net worth" to US$99.6bn. Facebook Inc. co-founder Mark Zuckerberg gained US$22.6 billion, a 45 percent hike. He also announced plans to sell 18 percent of his stake in the giant, as part of his philanthropy project, as he intends to give away a majority of nearly US$72.6 billion fortune. Together, the world`s five richest people Bezos, Gates, Buffett, Amancio Ortega, the owner of Zara, and Facebook`s Zuckerberg hold US$425bn of assets, an amount equal to one-sixth of the UK`s GDP.

25.12.2017 19:04 India GDP to Grow 7.5% in 2018

Indian economy is expected to witness sharp recovery in the January-March quarter and its GDP growth likely to be around 7.5% for 2018, a report said. According to Japanese financial services major Nomura`s Composite Leading Index, some growth consolidation is likely in the Q4 (October-December), followed by a sharp recovery in Q1 (January-March) 2018 due to ongoing remonetization and improving global demand, PTI reported. "We remain bullish on the growth outlook. We expect GDP growth to rise to 6.7% year-on-year in Q4 from 6.3% in Q3, followed by a stronger rebound to 7.5% in 2018," Nomura said in a research note. The report further noted that a tightening of monetary policy is likely owing to inflationary pressures and higher oil prices. Moreover, the minutes of the December 6 monetary policy committee meeting suggest that even as most members saw upside risks to inflation, weak growth concerns have held them back.

22.12.2017 14:29 The World Economy in 2018

All major macroeconomic indicators growth, unemployment, and inflation suggest that 2017 will be the American economy`s best year in a decade. And the global economy is enjoying broad, synchronized growth beyond what anyone expected. The question now is whether this strong performance will continue in 2018. The answer, of course, will depend on monetary, fiscal, trade, and related policies in the United States and around the world. And yet it is hard to predict what policy proposals will emerge in 2018. There are relatively new heads of state in the US, France, and the United Kingdom; German leaders still have not formed a governing coalition since the general election in September; and the US Federal Reserve has a new chair awaiting confirmation. Moreover, major changes in important developing economies such as Argentina, Saudi Arabia, and Brazil have made the future outlook even murkier. Still, we should hope for the best.

18.12.2017 22:27 Global Growth to Soften in 2018

Global growth next year is expected to be 3.5%, just above the average for the post-financial crisis era but slightly down from 3.6% in 2017. The three main factors that drove the acceleration in growth in 2017 are now expected to fade, according to Qatar National Bank report. In 2017, accommodative global monetary policy, sustained high growth in China and lower oil prices kept the wind in the sails of the global economy. In 2018, the positive effects of all of these drivers are likely to soften, QNB noted in its weekly `economic commentary`, Saturday, ThePeninsula.com reported. First, accommodative global monetary policy is likely to be scaled back in 2018, even if inflation does not pick up as expected. Unemployment in a number of major economies is expected to fall below the targeted levels of their central banks. The unemployment rate in advanced economies in 2018 is expected to fall to its lowest rate since 1980. This has already prompted the world`s largest central banks to announce plans to reduce the level of monetary accommodation.

14.12.2017 21:34 Global Economy Set to Grow 3.2 Percent in 2018, IHS Markit Says

The global economy will expand 3.2 percent in 2018, matching the rate of growth achieved in 2017 and marking the first time since 2011 that global growth topped 3 percent, according to an annual forecast released today by business information provider IHS Markit. The global economy finally broke through the doldrums in 2017 and the stage is set for continued solid growth in 2018, said Nariman Behravesh, chief economist at IHS Markit. We expect continuing expansion in the U.S. and emerging markets to offset plateauing in the Eurozone and Japan. While economic risks remain, most are low-level threats to the overall picture for 2018. The global growth forecast is part of Behravesh`s annual Top 10 Economic Predictions, which were announced today.

11.12.2017 23:56 Weapons sales in 2016 exceeded the total GDP of all but 26 of the world`s nations

In 2016 the world`s 100 largest arms manufacturers sold $374.8bn of weapons and military services, according to the latest report by the Stockholm International Peace Research Institute (SIPRI). The 2016 figure represents a 1.9 percent increase compared with 2015, and is the first year of growth in Top 100 arms sales after five consecutive years of decline. According to the report, sales from US firms rose four percent in 2016 to $217.2bn, accounting for 57.9% of the overall total. Lockheed Martin, the world`s largest arms producer, increased its arms sales by 10.7% to $40.8bn, driven largely by deliveries of its F-35 fighter jet.

08.12.2017 13:16 China`s debt levels pose stability risk, says IMF

Fears that China risks being the cause of a fresh global financial crisis have been highlighted by the International Monetary Fund in a hard-hitting warning about the growing debt-dependency of the world`s second biggest economy. The IMF`s health check of China`s financial system found that credit was high by international levels, that personal debt had increased in the past five years, and that the pressure to maintain the country`s rapid growth had bred an unwillingness to let struggling firms fail. While praising China`s president, Xi Jinping, for his commitment to improving financial security, the IMF said reforms by Beijing in recent years had not gone far enough.

07.12.2017 14:26 IATA: 1% of world GDP to be spent on air transport next year

With rising air passenger numbers, as much as 1 percent of the global GDP - translating into USD 861 billion - is projected to be spent on air transport in 2018, according to IATA. The global airlines grouping also said that economic development worldwide is getting a significant boost from air transport. "New destinations are forecast to rise next year, with frequencies up too; both boosting consumer benefits. We expect 1 percent of world GDP to be spent on air transport in 2018, totalling USD 861 billion," IATA said. The International Air Transport Association (IATA) represents around 275 airlines comprising 83 percent of global air traffic.

04.12.2017 15:12 U.S. helps drive global economy higher

Believe it or not, the U.S. is in its ninth consecutive year of economic expansion. In a healthy economy, gross domestic product, or GDP, growth rate is around 3-3.5 percent. GDP is the total dollar value of goods and services produced by a country and is the key indicator of its economic health. But therein lies the rub. Though the current expansion is the third longest since World War II, it is also the slowest, with an annual rate of growth averaging a paltry 2.1 percent. In 2016, economic growth was 1.5 percent. In the first quarter of this year, the growth rate was even lower at just 1.2 percent. But in the past eight months, the U.S. economy has finally gained traction. Led by improvements in consumer spending and a surge in business investment of factories, machinery and equipment, economic growth has averaged 3.05 percent. The national unemployment rate is at 4.1 percent, a 17-year low. The Consumer Confidence Index, a key measure of optimism on the state of the U.S. economy, was just reported at 129.5, reflecting a recent level of consumer optimism not seen since November 2000. The index has a benchmark of 100. Anything above 100 indicates optimism on jobs and income by consumers, who ultimately will spend money and stimulate economic growth.


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