Washington, July 9 (IANS) The global economy has remained resilient despite the economic shock triggered by the Middle East conflict, with artificial intelligence-led investment and productivity gains helping offset the impact of higher energy and commodity prices, the International Monetary Fund (IMF) said on Thursday, while cautioning that uncertainty remains exceptionally high.Speaking at the IMF’s regular press briefing, Julie Kozack, Director of the IMF’s Communications Department, said the…
Latest Middle East conflict News & Updates
New Delhi, July 9 (IANS) India and Germany are working closely together in the renewable energy sector to create a more sustainable environment and this relationship will deepen going ahead, the German Ambassador to India, Philipp Ackermann said. “It’s a very, very good framework where India and Germany put together their thoughts, expertise, and knowledge in order to create a better and more sustainable general environment. This includes, of course, clean energy, and we are very actively workin…
Washington, July 9 (IANS) India’s economy remains resilient despite the headwinds of higher global oil prices triggered by the Middle East conflict, the International Monetary Fund (IMF) said as it marginally lowered the country’s 2026 growth forecast to 6.4 per cent while projecting stronger expansion next year as the energy shock eases. The IMF, in its latest World Economic Outlook update released on Wednesday (local time), revised India’s growth forecast for 2026 down by 0.1 percentage point …
Seoul, July 5 (IANS) The South Korean won has fallen nearly 6 per cent against the US dollar this year, central bank data showed on Sunday, as foreign investors sold off more than 156 trillion won ($102.3 billion) worth of domestic stocks.The average exchange rate stood at 1,484.56 won per dollar during the first half of the year, according to the Bank of Korea’s Economic Statistics System.It marked the second-highest first-half average on record, behind 1,493.08 won in the first half of 1998 du…
Seoul, July 4 (IANS) Two suspects accused of running large-scale illegal online gambling networks have been extradited from the United Arab Emirates (UAE) to South Korea in a joint international operation, authorities said on Saturday. One suspect allegedly ran an overseas gambling site worth 4.8 trillion won (US$3.14 billion) based in Southeast Asia and laundered criminal proceeds while evading arrest for 12 years across multiple countries, including the Philippines, Malaysia and Cambodia, acco…
Washington, June 25 (IANS) The International Monetary Fund (IMF) on Thursday said an IMF team is in Sri Lanka to assess the country’s economic recovery programme, including the impact of higher energy prices following the recent conflict in the Middle East. Speaking at a regular IMF press briefing, Julie Kozack, Director of the IMF’s Communications Department, confirmed that the mission began this week and would conclude on June 30.”We do indeed have a team currently in Sri Lanka. This is a staf…
New Delhi, June 18 (IANS) Nearly 1.47 crore domestic LPG cylinders were delivered in the last three days against fresh bookings of around 1.36 crore cylinders as normal supply of cooking gas for household continues to be maintained across the country despite the supply chain disruptions due to the Middle East conflict, according to an update issued by the Ministry of Petroleum and Natural Gas on Thursday. No dry-outs have been reported from any LPG distributorship across the country, the stateme…
Washington, June 11 (IANS) The World Bank Group said on Thursday it is prepared to deploy up to $100 billion over the next 15 months to help developing countries cope with the economic fallout from the conflict in the Middle East, as rising energy prices and slowing growth place fresh pressure on vulnerable economies.The multilateral lender said it is immediately making available between $50 billion and $60 billion through existing instruments, including $25 billion in pre-arranged financing, to…
New Delhi, June 8 (IANS) Pakistan’s Federal Board of Revenue (FBR) has announced a massive revenue shortfall of close to Rs 684 billion during the first 10 months of the current financial year, raising concerns over the country’s fragile economy, according to a report in Maldives Insight.“As Pakistan struggles with inflation, debt obligations and repeated International Monetary Fund scrutiny, the revenue crisis has become far more than a bureaucratic failure. It now sits at the centre of t…
New Delhi, 1 June (IANS) The Government of India has received ₹2,12,679 crore, which represents 5.8 per cent of the total receipts for the corresponding BE 2026–27, for April this year. This comprises ₹1,78,492 crore of tax revenue (Net to Centre), ₹24,293 crore of non-tax revenue, and ₹9,894 crore of non-debt capital receipts on account of loan recoveries, according to a finance ministry statement issued on Monday. The monthly review of the Centre’s accounts also shows that ₹87,77…