Page 90 - Eco News Today

India's steel consumption is expected to grow by 7.5% during the current fiscal year to March 2024, boosted by rising demand from the domestic construction, railways and capital goods sectors, a leading industry body said on Friday.

Singapore's economy contracted in the first quarter, raising the risk of a recession in the city state as the global economic outlook weakens and major trading partner China struggles for a post-COVID lift-off.

Global stock indices will end this year higher than where they started it but most are set to be confined to ranges in coming months even as central banks approach the endgame for interest rate rises, according to Reuters polls of market strategists.

South Korea's central bank held interest rates steady for a third meeting on Thursday, as expected, after a 1-1/2-year-long tightening cycle and as both inflation and economic growth eased.

European stocks steadied on Thursday after their worst two-day selloff since March, as investors balanced concerns over the U.S. debt ceiling standoff and a global economic slowdown with optimism from upbeat corporate earnings.

The euro dropped on Thursday as Europe's largest economy Germany was confirmed to be in a recession, while the dollar hit a two-month peak, benefitting from safe-haven demand as worries mounted about a U.S. default.

GDP fell 0.3% in the first quarter following a decline of 0.5% in the fourth quarter of 2022.

Just four countries account for over half of all thermal coal imports and more than 70% of global power sector emissions from coal use, data shows, underscoring the extent of global dependence on these nations when it comes to cutting pollution.

German consumer sentiment is set to pick up in June thanks to a decline in the propensity to save, as expected wage rises help to dissipate households' fears about a loss in purchasing power with inflation, a GfK institute survey showed on Thursday.

Crisis-stricken Sri Lanka should be able to conclude newly launched debt restructuring talks by September, or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.