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…
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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…
New Delhi, March 23 (IANS) Brent crude has climbed up more than 60 per cent since the conflict in the Middle East began, from roughly $70 per barrel to about $112 per barrel on Monday.Meanwhile, crude oil prices for May futures on Multi Commodity Exchange (MCX) surged 0.65 per cent at Rs 9,318 per barrel.Crude rose about 56 per cent in the past 30 days, while US West Texas Intermediate (WTI) traded near $98.75 per barrel on Monday after rising over 2 per cent in the previous session.Escalating t…
Mumbai, Feb 21 (IANS) The PHD Chamber of Commerce and Industry (PHDCCI) in association with Metal X, hosted a conclave in which industry leaders on Saturday said scrap must be treated as a strategic commodity which can import dependence on other countries as OECD countries consider export restrictions.Vijay Sharma, Chair, Minerals & Metal Committee, PHDCCI and Director, Jindal called forecosystem formalisation through scrap processing clusters, integration of informal collectors into formal …
Seoul, Feb 20 (IANS) Science Minister Bae Kyung-hoon on Friday co-chaired the Global Partnership on Artificial Intelligence (GPAI) council meeting with Singapore in New Delhi, discussing global strategies to promote human-centric artificial intelligence (AI), the science ministry said.The GPAI is a partnership of 44 countries, including members of the Organization for Economic Cooperation and Development (OECD), promoting the development and use of AI under the OECD AI Principles. South Korea an…
New Delhi, Jan 5 (IANS) Public trust in tax remains strongest in Asia and India stands out for its relatively strong tax morale and trust in the fiscal system, a report showed on Monday.Nearly 45 per cent of Indian respondents believe that tax revenues are spent for the public good, while 41 per cent view paying taxes as a contribution to their community rather than an additional cost, reinforcing the idea of tax as a shared civic responsibility, according to the report released jointly by ACCA,…