UN Forecasts Lower Global Economic Growth for 2022 and 2023 | Business News

By EDITH M. LEDERER, Associated Press

UNITED NATIONS (AP) — The United Nations forecast lower global economic growth for 2022 and 2023 on Thursday, saying the world is facing new waves of coronavirus infections, persistent labor market challenges, lingering supply chain issues and rising inflationary pressures.

The U.N. said that after expanding 5.5% in 2021 — the highest rate of global economic growth in more than four decades — the world economy is projected to grow only 4% in 2022 and 3.5% in 2023.

Liu Zhenmin, the U.N. undersecretary-general for economic and social affairs, said at a news conference releaseasing the economic report that two years after the start of the COVID-19 pandemic “we are still living in a time of great uncertainty.”

“At the start of 2022, the global economic picture in the market is still murky,” he said. “Job creation has not yet made up for the earliest

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World Bank downgrades 2022 global economic growth forecast to 4.1%



The global economy is on track to grow by 4.1 per cent in 2022, down 0.2 percentage point from a previous projection, the World Bank Group said in its latest Global Economic Prospects release.


“The global recovery is set to decelerate markedly amid continued Covid-19 flare-ups, diminished policy support, and lingering supply bottlenecks,” the semiannual report added on Tuesday.





The global outlook is “clouded by various downside risks,” including renewed Covid-19 outbreaks due to new virus variants, the possibility of unanchored inflation expectations, and financial stress in a context of record-high debt levels, according to the report.


After rebounding to an estimated 5.5 per cent in 2021, global growth is expected to decelerate markedly to 4.1 per cent in 2022, the report noted. The latest projection for 2021 and 2022 is 0.2 percentage point lower than

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UK business growth slows as Omicron cases rise

 

UK business growth slows as Omicron cases rise

London remained the fastest-growing area but saw business activity fall from 64.1 in November to 57.5, signalling a loss of momentum. Photo: Tolga Akmen/AFP via Getty

Business activity growth slowed in the UK in December thanks to a resurgence in COVID-19 cases across the country as Omicron took its toll.

According to NatWest’s regional PMI data, 11 out of 12 regions posted slower growth, with the North East seeing a slight contraction.

Rising prices also remained a prevalent factor, although cost pressures did ease from recent record highs seen in October and November. Business managed to pass on the bulk of higher costs to customers during 2021 as demand strengthened.

Employment levels also recovered across the board, although the pace of job creation slowed.

The overall index, which is published each month and tracks the monthly change in the output of goods and services across the private sector, came in

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Year 2022 may create new business opportunities on higher growth expectations



The latent potential is available in the sectors like Fin techs, PLI scheme manufacturing and retail besides mega IPO of life Insurance Corporation likely to be in the year 2022.


© Provided by The Financial Express
The latent potential is available in the sectors like Fin techs, PLI scheme manufacturing and retail besides mega IPO of life Insurance Corporation likely to be in the year 2022.

By Jyoti Prakash Gadia

The year 2021 proved to be a bountiful year for investment bankers with unprecedented opportunities emerging across various verticals in the field of finance and investments.

Despite the lurking shadow of the omicron variant and the possibility of a third wave, the year 2022 shall hopefully be more eventful and create new business avenues for investment bankers in the wake of consistent turnaround and revival of the affected sectors and a higher growth trajectory expected.

Fresh opportunities arose as an account of the new normal created by the covid-19 pandemic, the spirit of resilience created in the ecosystem by the various stakeholders including the government, RBI and the businesses

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