Seoul, July 14 (IANS) South Korea detected 2.4 trillion won ($1.61 billion) worth of illegal foreign exchange transactions through May as the country stepped up surveillance against related crimes amid the volatility in the currency market, the finance ministry said on Tuesday.The Ministry of Finance and Economy announced the findings during a meeting with foreign exchange-related agencies amid growing concerns over illegal transactions following the Korean won’s recent slide against the U.S. do…
Latest OECD News & Updates
New Delhi, July 12 (IANS) Housing costs across 21 countries frequently exceed affordable limits, which is leading to continuous wealth erosion and threatening financial stability, and this crisis is expected to pressure household budgets and retirement savings, particularly for younger generations facing demographic shifts, according to a report released by the World Economic Forum (WEF).The housing affordability crisis is seen as a long-term challenge for global financial stability. The issue i…
New Delhi, July 11 (IANS) A recovery in global oil demand from a low of 97.9 million barrel per day (mb/d) in May (a decline of 5.3 mb/d year-on-year) is underway and by October, the International Energy Agency (IEA) expects global demand to be up by more than 8 mb/d from the May low point, putting it above 2025 levels for the first time since February.According to the agency, the upswing in fuel use during the peak summer travel season is set to get an additional boost from the release of pent-…
Kochi, June 24 (IANS) Arguing that India’s small businesses need protection from increasingly volatile global economic shocks, the Institute of Small Enterprises and Development (ISED) has proposed a new policy framework that seeks to move MSME support beyond subsidies and promotional schemes towards a comprehensive de-risking strategy. The proposal forms the centrepiece of the India MSME Report 2026, released here on Wednesday by Mercy Epao, Joint Secretary in the Ministry of MSME.At the heart …
New Delhi, June 23 (IANS) China has manipulated its trade data to show that its current account surplus as a share of GDP is smaller that of Europe and managed to get this data accepted by the IMF, according to a report published by Council on Foreign Relations (CFR).“There is a particular chart that appears in most OECD and IMF publications on imbalances that paints a deceptive picture of the state of today’s world. It shows that Europe’s current account surplus was bigger, as a share of …
New Delhi, June 3 (IANS) Over the past 12 years, the Government has steadily empowered India’s middle class through wide-ranging reforms. A sharp reduction in taxation, improved banking access, wider insurance coverage, and expanded pensions have reduced financial stress. Subsidised loan rates and digital reforms have also made savings, borrowing, and financial planning more accessible and convenient. The government’s tax reforms have significantly eased the financial burden on the middle cl…
New Delhi, June 3 (IANS) As global economic growth slows down amid the West Asia crisis, India is projected to register 6.3 per cent growth in 2026–27 (FY27) and 6.4 per cent in 2027–28 (FY28), the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.In the emerging-market economies, China’s growth is projected to ease from 5.0 per cent in 2025 to 4.5 per cent in 2026 and 4.3 per cent in 2027, as energy-related vulnerabilities and real estate sector adjustments we…
Seoul, April 26 (IANS) South Korea’s potential growth rate is projected to fall to a record low in the fourth quarter of next year, continuing a decade-long downward trend, according to the Organization for Economic Cooperation and Development (OECD).According to the latest OECD data, the country’s potential growth rate is projected to reach 1.52 percent in the October-December period of next year, a sharp decline from 1.92 percent last year and an estimated 1.71 percent this year. It is expecte…
Seoul, April 12 (IANS) South Korea’s national debt is projected to approach 60 per cent of its gross domestic product (GDP) by 2030, government data showed on Sunday, with the pace of increase widely expected to accelerate amid slowing growth and growing fiscal burdens.The country’s debt-to-GDP ratio stood at 49 percent last year, up 3 percentage points from a year earlier, according to the national settlement report from the finance ministry, reports Yonhap news agency.The increase marks the la…
New Delhi, April 9 (IANS) Youth unemployment is emerging as a major problem in China which is raising a question mark on the Asian giant’s “economic miracle.” World Bank estimates put youth unemployment at about 17.7 per cent in 2025, reflecting slower job creation amid an increasing number of university graduates entering the labour market. Official data released in 2025 showed unemployment among those aged 16–24 rising to 16.9 per cent. Social media amplified the issue when a PhD gradu…