Downside risks to economy

Govt decides to ‘immediately’ approach IMF

Pakistan to start talks with IMF as rupee continues to fall

Russell Knight | 12 October, 2018, 10:14

The US-China trade war will hobble global growth, the International Monetary Fund warned Tuesday, cutting its forecast for this year and next and predicting that "everyone is going to suffer" from a clash between the world's two biggest economies.

The global economy will now grow 3.7 per cent in 2018 and 2019, 0.2 percentage points lower than the fund's July forecast, and at the same pace of 2017.

IMF Managing Director Christine Lagarde confirmed that Pakistan had requested the loans after meeting with Finance Minister Asad Umar in Indonesia, without saying how much the Pakistanis had asked for.

Jakarta expects the economy to grow by 5.2 per cent this year and 5.3 per cent next year, given external pressures.

The IMF said the balance of risks was now tilted to the downside, with a higher likelihood that financial conditions will tighten further as interest rates normalize, hurting emerging markets further at a time when USA -led demand growth will start to slow as some tax cuts expire.

It cautioned, "Turkey has a currency that is about 40 percent cheap to its long-term average, and the International Monetary Fund assumes the CA deficit will shrink from 5.7 percent of GDP in 2018 to 1.4 percent of GDP in 2019".

The possible failure of Brexit negotiations also dampened the eurozone's growth outlook.

Global trade tensions would also have a bearing on the eurozone's 2018 growth forecast, which was cut to 2 percent from 2.2 percent previously.

Global growth is expected to remain steady at 3.7 per cent in 2020, as the decline in advanced economy growth with the unwinding of the U.S. fiscal stimulus and the fading of the favorable spillovers from United States demand to trading partners is offset by a pickup in emerging market and developing economy growth.

China accuses former Interpol chief of graft
Meng's leadership also provided a mechanism to legitimise China's global efforts to silence critics among its diaspora. Meng Hongwei , 64, vanished from public view after taking a flight from France to Beijing in late September.

Learn More About Mental Health Awareness in Teens with NAMI Sarasota
Gaga wrote in the Guardian: "The time has come for us all, collectively, to tackle the causes and symptoms of mental illness". They were really proud of being a young parent.

Putin Congratulates Nurmagomedov After McGregor Win, Issues Veiled Warning
The NSAC made the decision to withhold Nurmagomedov's purse after the post-fight antics, while McGregor was paid in full. Nurmagomedov wrote: "I would like to address @ufc". "We have defended our honor and this is the most important thing".

It sees the unemployment rate dropping to 3.9 percent in 2018 and to 3.5 percent in 2019.

The IMF said higher trade barriers could disrupt global supply chains, slow the spread of technology and ultimately lower global productivity and welfare.

The fund urged governments to focus on policies that can share the benefits of growth more widely, helping counter the growing mistrust of institutions, and to avoid "protectionist reactions to structural change".

It also said renewed impetus to reform labour and land markets, along with further improvements to the business climate, are crucial.

The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the United States and China in 2019.

Meanwhile, Dr Obstfeld is concerned that several economies have adopted policies that are "unsustainable over the longer term" to boost growth.

Trump has repeatedly touted Wall Street records as proof of the success of his economic programme including his confrontational trade strategy, and has frequently criticised the Fed for gradually raising interest rates, which could press the brakes on equity markets.

Washington has also imposed tariffs on steel and aluminium, citing national security concerns, and has also warned it could impose a 25% levy on imported cars and vehicle parts.

Beachside town battered by Hurricane Michael

12 October 2018

Kanye West stages surreal White House meeting with Donald Trump
On his first global trip as president, Mr Trump visited Saudi Arabia and announced $US110 billion in proposed arms sales. During one pause, Trump seemed to acknowledge the oddness of the moment, saying, "That was quite something".

12 October 2018

Celebrities Demand Global Action to Combat Mental Health Stigma
People from a black or black British background are more than three times as likely to be detained under the Act as white people. Dagg adds that if people ignore their mental well-being, it could have devastating impacts on their physical health.

12 October 2018

International Monetary Fund to launch financial assistance talks with Pakistan
A convoy of armed personnel carriers was lined up alongside a beach path and access to the area was tightly controlled. An IMF delegation will visit Pakistan in the coming weeks to discuss a possible IMF support economic programme.
12 October 2018

Red Sox stick with David Price as a starter
In watching the game, it looked as if the Red Sox knew what Severino was going to throw, and when; apparently that was the case. In the ALDS Game 3 loss at Yankee Stadium, Severino was pulled with no outs in the fourth inning.

12 October 2018

Jay Ajayi: Eagles should have run more vs. Vikes
Bennett's 9-yard sack was wiped out by a personal foul call, and the half-the-distance penalty placed the ball on the Eagles' 11. Wentz picked up 15 rushing yards, while also completing 68 percent of his passes for 311 yards and two touchdowns.

12 October 2018

Selena Gomez receiving mental health treatment after ’emotional breakdown’
She said on September 23 she was leaving social media. "Just remember- negative comments can hurt anybody's feelings". As a result, she was checked into an "East Coast facility" that specializes in psychiatric treatment.
12 October 2018

Instagram launches new tools to stop online bullying and spread kindness
In selfie mode, hearts fill the screen; switch to the rear camera to see kind comments in various languages. Instagram is hoping to stop bullying on its platform with a little help from artificial intelligence.

12 October 2018

Ereck Flowers release generates strong reactions from Giants fans
After being drafted with the 9th pick out of Miami the expectations were high, and he was never able to live up to those in NY . With Flowers' release, Landon Collins is now the last of the Giants' 2015 draft picks still on the roster.

11 October 2018

Hurricane Michael’s death toll up to six
Michael was the strongest storm to ever hit the Florida Panhandle, and the only hurricane to do so as a Category 4. Where did the storm make landfall? Michael's center is approximately 90 miles southwest of Panama City, Florida.
12 October 2018

Northern Irish party threatens to topple Theresa May's United Kingdom government
Instead she proposed Britain as a whole stay temporarily aligned with the EU's customs union until a wider trade deal is agreed. Cabinet ministers briefed on the Brexit talks said the issue of the Irish backstop was close to being settled, the FT said.

12 October 2018

Malaysia to abolish death penalty: minister
Amnesty International reported in March that 799 people on death row were convicted of drug trafficking, including 416 foreign nationals.

11 October 2018

Google Home Hub vs. Amazon vs. Facebook
Portal can also play music through Spotify and Pandora, play Facebook Watch videos, and cycle through photos in selected albums. For the Portal is basically a device that comes with its own web cam as well as the display to make video calls.

Beachside town battered by Hurricane Michael An official with an emergency management agency said Tropical Storm Michael is responsible for a child's death in Georgia. In Chattahoochee, Fla., a hospital with a section for the criminally insane was cut off by land and without phone service.

INDvsWI: Kohli back, Pant picked up for first 2 ODIs In their place are Mohammed Shami , Khaleel Ahmed and Shardul Thakur form India's bowling department. Ravindra Jadeja is also expected to make it after his lion-hearted show as Axar Patel's replacement.

Cyclone Titli: Eastern India battered by deadly storm The students' union poll across the state scheduled for October 11 has been cancelled, Chief Secretary Aditya Prasad Padhi said. Maritime ports of: Chittagong, Cox's Bazar, Mongla, and Payra have been advised to keep local warning signal no 4 hoisted.

Africa's youngest billionaire kidnapped outside luxury hotel Dewji was abducted by two people who were foreigners at Oyster Bay in Dar es Salaam , while on his way to Colosseum Gym. Dar es Salaam regional commissioner Paul Makonda cautioned the public against speculation.

'That was something': Trump left speechless after Kanye visits White House A number of Manchester United fans have criticised the club for sharing a photo of Kanye West in the club's gear on Twitter . Which is pretty underwhelming considering you've just branded yourself a insane motherfucker.

Russian Soyuz rocket malfunctions, makes emergency landing Russian officials said all manned space flight missions would be suspended until investigators figure out what went wrong . A duo of astronauts from the USA and Russian Federation has blasted off for a mission on the International Space Station .

Will Smith reveals first post for Disney's 'Aladdin' The first poster for Disney's live-action Aladdin remake , in just three words? The tagline reads, "Choose Wisely". Aladdin plans to uses these wishes to win over the handsome Princess Jasmine, but the evil Jafar has other plans.

Prince Harry and Meghan Markle Reportedly Trying to Have a Child It also could just be a color that Princess Eugenie likes, as she's worn various versions of red over the years. Windsor will once again play host to a royal wedding after Prince Harry and Meghan Markle tied the knot in May.

Donald Trump says Fed has 'gone crazy' after Dow Industrial Average tumbles French markets and Germany markets lost over 2 per cent of its value while in the United Kingdom , the loss was 1.3 per cent. But financially, the latest trend originated in Europe where an Italian budget has brought back the fears of eurozone crisis.

Rocket carrying space station crew fails in mid air, crew safe Thursday's incident was the first launch mishap for a Russian Soyuz booster since an on-pad abort in August 1983, CBS reported . The Canadian Space Agency said Thursday that it did not know whether the failed launch would affect Saint-Jacques' launch date.

NYPD detective's role cited in Weinstein case Evans told her friend when they walked home that night that she had flashed her breasts to Weinstein in the restaurant's hallway. Weinstein appeared before New York Judge James Burke as his lawyers tried to have some or all of the charges he faces dismissed.

Google Shuts Down Google The Google Plus data potentially exposed includes names, email addresses, occupations, dates of birth, genders and profile photos. Google + was launched in June, 2011 as a way to compete with other social networks such as Facebook.

Microsoft Just Did Something Big With 60,000 Patents Why it matters: There's been plenty of friction between Microsoft and the open source advocates regarding patents over the years. Make a clear, unambiguous statement that it has ceased all patent infringement claims on the use of Linux in Android.

US says China spy charged with trying to steal aviation secrets It has broad powers to conduct espionage domestically and overseas , the statement said. We can not tolerate a nation stealing our firepower and the fruits of our brainpower.

Amazon claims smartphone crown for Wednesday as Redmi 6A sale soars Furthermore, you could get your hands on the device at an effective price of Rs. 7,777 per month with a no-cost EMI option. The iPhone X 64GB is down to Rs. 69,999 from its actual MRP Rs. 91,900 on both Flipkart and Amazon festive season sales.

Downside risks to economy

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