Global Scans · Economy · Weekly Summary

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DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

• [New] Tougher sanctions enforcement against Iranian oil shipments by the U.S. could raise oil prices but would risk higher inflation and pump prices for U.S. motorists in an election year. AP News
• [New] Oil prices climbed close to six-week highs last week as markets prepared for a potential retaliation by Iran to a suspected Israeli strike on its embassy in Syria earlier this month. Yahoo Finance
• [New] There is a clear indication that over consumption of antimicrobial in humans has led to resistant pathogens that adversely affects the human health, perhaps, among the top ten list, AMR is considered as the potential global threats to human health, food security, and development,,. PubMed Central (PMC)
• [New] China's and Germany's reliance on external demand rather than stimulative domestic policies to bolster their economies could cause rising tensions with trading partners and put a damper on global growth. Brookings
• [New] External risks include increased trade tensions with the United States and European Union weakening the PRC's exports; escalated geopolitical tensions that may disrupt supply chains; renewed energy challenges triggered by geopolitical conflict; and fragmentation of the global economy. Asian Development Bank
• [New] Growth in mining and quarrying will depend on developments in global commodity prices and the opening of new mining sites. Asian Development Bank
• [New] Inflation in developing Asia and the Pacific is expected to decline to 3.2% this year and 3.0% next year, as global price pressures ease and as monetary policy remains tight in many economies. Asian Development Bank
• [New] Stronger public sector management remains key to using the financial assistance anticipated under the North Pacific economies' renewed Compacts of Free Association with the United States to upscale productive investments, improve the quality of public services, and build resilience. Asian Development Bank
• [New] As Zimbabwe looks towards a future of economic growth and infrastructure development, initiatives like the ZBCA's Youth Desk will play a vital role in shaping the trajectory of the construction industry. The Standard
• [New] With global economies showing signs of normalising and optimism over Fed interest rate cuts in 2024, analysts expect companies across key markets to spend more on technology that will drive higher growth forecasts by Indian software services firms. The Straits Times
• [New] GBA Plus will help ensure that Canada's FTAs are more gender responsive and inclusive so all members of Canadian society can reap the benefits of free trade and continued economic growth. GAC
• [New] Global Risks: ADB warns of potential risks such as a sharp rise in oil prices or prolonged high-interest rates in the West, which could impact India's growth trajectory. BYJU'S
• [New] The Reserve Bank of India has projected average inflation to ease to 4.5% in 2024, but the ongoing quarter may see an average inflation of 4.9%, indicating continued volatility in prices. BYJU'S
• [New] The monetary authority in neighboring Namibia is expected to keep its key rate unchanged at 7.75% to safeguard its peg with the rand, and because of upside risks to its inflation outlook from drought conditions and higher oil prices. financialpost
• [New] The expansion of irrigated lands and increased rice productivity, facilitated by Japan-supported irrigation infrastructure, mitigated the risks of harvest failure due to droughts and floods. Taylor & Francis
• [New] CPI inflation in the UK will fall below US CPI inflation in April and that the Bank of England may first cut interest rates from 5.25 pc in June and reduce them to 3 pc in 2025 rather than to 4 pc as investors expect. The Telegraph
• [New] The UK will continue to work closely with international governments, AI AI companies and civil society, to ensure people across the globe can safely realise the transformative benefits of AI AI to unlock new opportunities, transform productivity and public services, and power economic growth. GOV.UK
• [New] Capital Economics has forecast a 0.1 pc monthly rise in March, which would mean total growth of 0.4 pc across the first three months of the year - higher than the Bank of England's forecast of just 0.1 pc quarterly growth. The Telegraph
• [New] Specialists are concerned about whether reimposing sanctions on Venezuela's energy sector could spur higher global oil prices and increase the number of Venezuelan migrants heading for the U.S.-Mexico border. Latin Times
• [New] The potential of commodity-backed tokens and broader asset tokenization could herald a new dawn for economic empowerment and global participation of developing nations. businesslive
• [New] Expanding on the transformative potential of commodity-backed tokens, particularly for developing nations rich in natural resources, it is essential to delve into the broader scope of asset tokenization and its implications for the future of global markets and economic development. businesslive

Last updated: 16 April 2024