Latest Global Business News

Global economy to grow 3.1% in 2018: World Bank

 
The World Bank raised its 2018 growth forecast to three-point-one percent.
However there's still high uncertainty surrounding these prospects.
Cha Sang-mi helps us look beyond the digits.
 
  The World Bank on Tuesday projected the global economy to grow by 3-point-1 percent in 2018, with growth slowing down slightly in 2019 and 2020.
The figure is zero-point-two percent higher than the World Bank's forecast from last June.
 
The institution attributed the rise to a recovery in investment and manufacturing, and a continuation of trade.
In its Global Economic Prospects report, the World Bank forecasts this year to be the first that the world economy is operating at full capacity since the financial crisis a decade ago.
 
  The report wrote that the major economies -- the United States, Eurozone, and Japan -- are expected to see moderate growth of around 2-point-2 percent this year, as central banks gradually remove their post-crisis stimulus measures.
 
  Growth in the emerging and developing economies will rise to 4-point-5 percent in 2018 with strong commodity exports.
The institution said uncertainty around global growth prospects still remains high, despite the possibility of stronger-than-expected growth in large economies.
 
world to grow 3
 
  The institution advised advanced economies to continue to reinforce financial regulations and supervision... and emerging and developing economies to strengthen policy frameworks to ensure financial stability.
 
As for Korea, experts say its economic outlook isn't as bright as that of other nations.
(KOREAN)   -  
 
    "Experts predict Korea's economy to grow by 2-point-8 percent this year, a bit lower than the projected global economic growth average, and down from last year's growth rate. The reasons are domestic such as an increase in corporate income tax, excessive pay rises, and commercial law amendments."
 
  The World Bank publishes economic prospects reports every January and June.
 

Add comment

Emails are optional and for tracking replies. Names are unique; get yours today with a comment!


Security code
Refresh

La Business

Global recession on the horizon: Paul Krugman
Global recession on the horizon: Paul Krugman

  Nobel Prize-winning economist Paul Krugman says a global recession is on t [ ... ]

Read more la
Hotel booking sites to end 'misleading' sales tactics
Hotel booking sites to end 'misleading' sales tactics

  Expedia and trivago are among six online hotel booking sites that will m [ ... ]

Read more la
Federal Reserve holds rates stable at 2.25-2.5%, will be "patient"...
Federal Reserve holds rates stable at 2.25-2.5%, will be

  The U.S. Federal Reserve has frozen its target interest rate,... signaling an en [ ... ]

Read more la
Apple's Q1 revenue declines as iPhone sales drop 15%
Apple's Q1 revenue declines as iPhone sales drop 15%

  30 Jan 2019 - Apple has released its earnings report for the first fiscal quar [ ... ]

Read more la
US Justice Department accuses Huawei of fraud, intellectual property theft
US Justice Department accuses Huawei of fraud, intellectual property theft

  The U.S. Justice Department has filed several federal charges against Chin [ ... ]

Read more la
Google fined €50 million in France for breaching online privacy rules
Google fined €50 million in France for breaching online privacy rules

  French data regulators have fined Google 50 million euros, or 57 million d [ ... ]

Read more la
China posts lowest growth level in 28 years at 6.6% for 2018
China posts lowest growth level in 28 years at 6.6% for 2018

  New preliminary figures out of Beijing show China's growth rate plumme [ ... ]

Read more la
Cristiano Ronaldo in court with wife-to-be Georgina Rodriguez for tax fraud charges
Cristiano Ronaldo in court with wife-to-be Georgina Rodriguez for tax fraud charges

  Juventus striker Cristiano Ronaldo arrives in court in Madrid with partner Geo [ ... ]

Read more la
Seoul taxi driver attempts self-immolation in protest against Kakao's carpooling service
Seoul taxi driver attempts self-immolation in protest against Kakao's carpooling service

  A taxi burst into flames in central Seoul on Wednesday evening,... after the d [ ... ]

Read more la
World Bank’s Jim Yong Kim to join private equity firm after shock resignation
World Bank’s Jim Yong Kim to join private equity firm after shock resignation

  The president of the World Bank, Jim Yong Kim, will join a private equit [ ... ]

Read more la
280kg Bluefin tuna nets US$3.1 million at Tokyo auction
280kg Bluefin tuna nets US$3.1 million at Tokyo auction

  Bluefin tunas are known to be expensive, but a New Year's auction in Tokyo o [ ... ]

Read more la
Global stocks plunge after "Apple shock"
Global stocks plunge after

  Let's start with the carnage on financial markets around the world.   M [ ... ]

Read more la
Trump-Xi phone call aims to break trade war
Trump-Xi phone call aims to break trade war

  U.S. President Donald Trump has held phone talks with his Chinese counte [ ... ]

Read more la
Asian stocks retreat on major sell-off on Wall Street
Asian stocks retreat on major sell-off on Wall Street

  Asian stocks retreated today.   Some of them were already dealt a [ ... ]

Read more la
Global stock markets swimming in sea of red
Global stock markets swimming in sea of red

  U.S. stocks fell sharply again on Thursday... on the threat of a partial gov [ ... ]

Read more la
Fed defies Trump; raises interest rates
Fed defies Trump; raises interest rates

  Our top story this morning... The U.S. Federal Reserve has defied continued [ ... ]

Read more la

Our Sponsors


La Latest

Lightsaber combat officially recognised as sport

  Whoever thought you'd be able to actually compete using lightsabers from [ ... ]

Read more la
President Trump declares national emergency to build wall

  President Donald Trump has announced he will declare a national emergency to [ ... ]

Read more la
Thousands of kids march in Brighton climate protest

  Tens of thousands of school children have missed school today to take part in  [ ... ]

Read more la
An American man describes mountain lion attack

  An American man has described how he was attacked by a mountain lion when he [ ... ]

Read more la
Forbidden love in North Korea finds a way in Vietnam

  As Vietnam is set to host the upcoming North Korea-U.S. summit, a tale o [ ... ]

Read more la
Korean "artificial sun" breaks world record of retaining high plasma temperature for energy production

  South Korea's nuclear scientists have conducted a revolutionary experime [ ... ]

Read more la
Man sues police; allegedly tased 11 times

  A man in Arizona is suing police, claiming he was tased 11 times after he wa [ ... ]

Read more la
Arsenal's Aaron Ramsey to join Juventus for £400k-a-week

  Arsenal midfielder Aaron Ramsey has signed a pre-contract agreement to j [ ... ]

Read more la

La Entertain

Kate Middleton brings Sexy Back at BAFTA 2019

  The Duke and Duchess of Cambridge met with a number of BAFTA winners includi [ ... ]

Read more la
Blackpink to perform on The Late Show With Stephen Colbert

  Blackpink will debut on the U.S. airwaves later this month.   CBS annou [ ... ]

Read more la
7 celebrity tweets that sent the internet into meltdown

  With Twitter CEO Jack Dorsey announcing plans to introduce a "5 to 30  [ ... ]

Read more la
The Oscars: Full rundown of Best Picture nominees

  Black Panther, A Star is Born, The Favourite, Roma, Green Book, Bohemian Rhaps [ ... ]

Read more la
Lady Gaga slams Trump and Pence live on stage

  Musician and actor Lady Gaga called for US President Donald Trump to end t [ ... ]

Read more la
Baby Shark debuts on Billboard Hot 100

  BTS isn't alone in making a big splash in the global music realm.    [ ... ]

Read more la
BTS dolls to hit market this summer

  BTS made a big splash in the global music scene in 2018, breaking record [ ... ]

Read more la
Black Pink, Hyukoh, Jambinai performs at Coachella 2019; makes K-pop history

  Several Korean music acts are in line to perform at the annual Coachel [ ... ]

Read more la