Business

Resilient global economy still limping with growing divergences

DailyTimesNGR DailyTimesNGR 17 January 2024 0

The global economy continues to recover from the pandemic, Russia’s invasion of Ukraine and the cost-of-living crisis. In retrospect, the resilience has been remarkable. Despite war-disrupted energy and food markets and unprecedented monetary tightening to combat decades-high inflation,

Business

Global Economy to slow further amid signs of resilience, China re-opening

DailyTimesNGR DailyTimesNGR 17 January 2024 0

The global economy is poised to slow this year, before rebounding next year. Growth will remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activity. According to the World Bank, the fight against inflation is starting to pay off, but central banks must continue their efforts. Despite […]

Business

World Bank projects 5.6% growth for global economy

Ihesiulo Grace 8 June 2021 0

The global economy is expected to grow at 5.6 per cent in 2021, although many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath. The World Bank said this in its June Global Economic Prospects released on Tuesday in Washington D.C., adding that the expected growth was based largely […]

Featured Headlines

Recession likely if gloomy economy persists – Finance minister

Ihesiulo Grace 2 June 2020 0

…Says collective efforts of executive, NASS will minimise how far Nigeria goes into recession Tunde Opalana, Abuja Minister of Finance, Budget and National Planning, Zainab Ahmed, on Monday, raised the alarm that going by the downward trend in global economy of which Nigeria is not isolated, the country might be heading for another economic recession. […]

Foreign

IMF: World growth to contract 3 per cent, worst recession since 1930s

Ihesiulo Grace 15 April 2020 0

The global economy will contract 3 per cent this year due to the new coronavirus and shutdowns aimed at mitigating its spread, the IMF said on Tuesday in its updated World Economic Outlook. The prediction marks a massive 6.3-per-cent swing off previous estimates from January. “This makes the great lockdown the worst recession since the […]

Business Featured Headlines

FIRS increases tax revenue by 7% to N1.1trn in Q1

Ihesiulo Grace 3 April 2020 0

Despite the crumbling of the global economy due to Coronavirus pandemic, especially the sharp fall in the prices of crude oil, the Federal Inland Revenue Service (FIRS) has recorded an increase of 7.3 per cent revenue collection target for the First Quarter (Q1) of 2020, compared to the corresponding period of 2019. The spokesperson of […]

Business

How Coronavirus affects global economy, creating uncertainty-IMFC

Ihesiulo Grace 5 March 2020 0

The International Monetary and Financial Committee (IMFC) on Wednesday said that Coronavirus outbreak economic and financial impacts have been felt globally, creating uncertainty and damaging near-term prospects. This was contained in a statement issued by the IMF after a teleconference call, chaired by Governor of the South African Reserve Bank Lesetja Kganyago and

Aviation

IATA fears passengers growth in 2018 due to fuel price challenge

Ihesiulo Grace 6 February 2018 0

Worldwide passenger traffic grew 7.6% in 2017, outpacing the 10-year average annual growth rate of 5.5%, as passengers responded to an overall improvement in the global economy and lower airfares, according to IATA’s Air Passenger Market Analysis for December 2017, released Feb. 1. Global passenger capacity was up 6.3% for the full year, producing an […]