Global economy

CEOs less gloomy on economy, but less confident of growth: PwC Survey

Dennis Nally, Chairman of PricewaterhouseCoopers. Photo: AP

Top business leaders are less gloomy about the prospects for the global economy than last year but are hardly brimming with confidence, according to a major survey released on the eve of the Davos forum.

Thursday, 24 January, 2013, 4:21am

Asia Pacific economies to ease downward rating pressure

China's bottoming out economy will lead to stabilising growth in property sales and infrastructure. Photo: Xinhua

Moody's Investors Service expects downward rating pressure to ease in 2013 as the Asian region, excluding Japan, significantly outperforms the weak global economy.

23 Jan 2013 - 3:55am

Shifts in global demand must be co-ordinated

Illustration: Craig Stephens

Whether we like it or not, the world around us is in a state of constant change. But recent economic trends suggest that this change may be shifting its direction in a fundamental way.

23 Jan 2013 - 2:17am

HSBC says China's economy to take centre stage in 'new world'

Stephen King, Group Chief Economist of HSBC. Photo: Edward Wong

The United States, Japan and Europe are set to take the back seat to China's economy, which will take the centre stage of the "new world", according to HSBC.

19 Jan 2013 - 5:12am

World Bank bearish on global outlook

A man begs outside at a market in Valencia, eastern Spain. The World Bank has warned that a slow recovery in developed nations is acting as a brake on the global economy. Photo: EPA

Warning that the global economy continues to be fragile, the World Bank yesterday sharply cut the growth outlook for this year.

The multilateral bank forecast global gross domestic product this year would edge up to 2.4 per cent from 2.3 per cent in 2012, revised down from the 3 per cent growth it predicted in June.

17 Jan 2013 - 3:22am

British welcome of Asian business will hasten global economic recovery

This year's Asian Finance Forum will, I'm sure, continue to be a source of new ideas and inspiration. Twelve months ago, I addressed the forum with a simple message: that Britain is the natural home of Asian investment in the West. I said that the remarkable pace of growth in Asia was a huge opportunity for British businesses, if we could get out there and seize them.

14 Jan 2013 - 3:31am

Today's economic crisis must not overshadow long-term problems

People walk in high water near the Ponte delle Guglie in Venice, Italy. Joseph Stiglitz says global warming is one of the long-term problems our world is facing. Photo: AP

In the shadow of the euro crisis and America's fiscal woes, it is easy to ignore the global economy's long-term problems. But, while we focus on immediate concerns, they continue to fester, and we overlook them at our peril.

9 Jan 2013 - 3:08am 1 comment

2012: How Wall Street got it wrong

In a year of financial mis-forecasting, Morgan Stanley predicted Standard & Poor's 500 Index would lose 7 per cent in 2012. Photo: Bloomberg

From hedge fund manager John Paulson's call for a collapse in Europe to Morgan Stanley's warning that US stocks would decline, Wall Street got little right in its prognosis for the year just ended.

5 Jan 2013 - 3:13am

Three steps to jump-starting the global economy

Three steps to jump-starting the global economy

As the world enters yet another year in the shadow of continued financial and economic crisis, a broader view of the contours of the future global economy is required.

5 Jan 2013 - 2:38am

Global economy needs Washington to rediscover compromise

US President Barack Obama said he had fulfilled a campaign promise to make the US tax system fairer with a deal to avert the fiscal cliff crisis that passed after a fierce duel in Congress. Photo: AFP

For the second time in 18 months the US has pulled back from the brink of economic crisis. A last-minute bipartisan deal between the White House and Congress late on Tuesday (US time) headed off across-the-board tax rises and public spending cuts worth more than US$600 billion.

3 Jan 2013 - 4:21am

World leading economies to see drop in debt

Deutsche Bank expects German bonds to outperform French debt.

The world's leading economies will have US$220 billion less sovereign debt to refinance this year, cutting supply after every major government bond market rallied for the first time since the 2008 financial crisis.

3 Jan 2013 - 4:36am

'Grimmest days over' for Hong Kong's office leasing market

Demand for office leasing in Hong Kong is expected to grow gradually in the second half of this year as the global economy stabilises. Photo: Sam Tsang

After a sharp fall in rentals in the core Central district, the worst for Hong Kong's office leasing market is over, property consultants say.

They expect demand to pick up gradually amid growing expectations that the global economy will stabilise this year.

2 Jan 2013 - 4:24am

Stock markets rally despite global economic malaise

Stock markets rally despite global economic malaise

You had perfectly good reasons for being cowardly about the stock market in 2012, but caution didn't serve you well.

2 Jan 2013 - 4:24am

Fraying at the edges

There are flaws in the US system but it still accounts for the biggest single chunk of the world's economy. Photo: Bloomberg

Globalisation is all about creating a single, seamless world where national boundaries diminish in significance in the interests of economic freedom and greater opportunities for all.

2 Jan 2013 - 4:24am

Yuan gains tipped to run out of puff next year

A strong gain in the yuan is unlikely next year. Photo: Bloomberg

The yuan is expected to strengthen only slightly next year as appreciation dynamics, including the mainland's export competitiveness, lose steam.

31 Dec 2012 - 4:58am