Category: World
World GDP Forecasts Raised, but Evidence of US Slowdown Accumulates: Fitch Ratings
Fitch Ratings has raised its world growth forecasts for 2025 moderately since the June Global Economic Outlook (GEO) on better-than-expected incoming data for 2Q25. But there is now evidence of an underlying US slowdown in ‘hard’ economic data and positive surprises on eurozone growth have partly reflected US tariff front-running. Fitch still expects world GDP […]
Fitch Ratings: Developed Economies’ Potential Growth Revised Up to 1.6-pct
Fitch Ratings has updated its five-year projections for supply-side potential GDP growth for the 10 developed economies (‘DM10’) covered in its Global Economic Outlook. The GDP-weighted average DM10 potential growth projection has been raised to 1.6% a year from 1.4% in the previous report in August 2023. This reflects more optimistic projections for the US, revised […]
Sri Lanka expresses deep concern over the decision of Israel
Sri Lanka expresses deep concern over the decision by Israel to seize control of Gaza, which will lead to further escalation of violence and suffering of the people of Gaza. Sri Lanka calls for an immediate ceasefire and urges all parties to resolve differences through diplomatic dialogue in order to establish sustainable peace. Ministry of […]
US Effective Tariff Rate from all trading partners settles at 17-pct with July 31 duties: Fitch Ratings
Fitch Ratings has updated the U.S. Effective Tariff Rate (ETR) Monitor, its interactive tariff tool, reflecting the July 27 and July 31 announcements that set new reciprocal tariff rates for most trading partners. The U.S. effective tariff rate is now 17% — about 8 percentage points lower than our April 3, 2025, estimate when higher […]
US Dollar Shows Signs of Stabilisation on Easing Policy Uncertainty: Fitch Ratings
The US dollar has shown early signs of stabilisation against other currencies in the past few weeks, as US policy uncertainty has eased from record highs, Fitch Ratings says in its latest FX Market Monitor. The DXY Dollar Index (a weighted-average of six bilateral exchange rates with developed market countries with reserve currencies) remains about […]
‘s New Stablecoin Law Mandates Full Reserve Backing, Monthly Disclosures
President Donald Trump has signed the GENIUS Act into law, making it the first U.S. federal legislation to regulate stablecoins. The law requires full reserve backing, monthly reserve disclosures, and strict rules to prevent misleading marketing. The move triggered a rally in digital assets, with Bitcoin surpassing $123,000 during the debate in the House, and […]
VIDEO: Why China Is Building Ships in the Desert
In the middle of the Chinese desert, miles from any ocean, lie massive naval ships. In this video, we explore why China built them in the sand and what they’re used for.
India to Facilitate Flights for Sri Lankans Leaving Iran
The Ministry of Foreign Affairs, Foreign Employment and Tourism informs all Sri Lankans in the Islamic Republic of Iran that the Government of Sri Lanka has made arrangements with the Government of India to assist Sri Lankans who wish to leave Iran by accommodating them in their flights. Accordingly, any Sri Lankans who wish to […]
Global Economy Set for Weakest Run Since 2008 Outside of Recessions: World Bank
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups. Global […]
‘s impeachment
An intense public feud erupted between President Donald Trump and his one-time ally, billionaire Elon Musk, with an argument about Trump’s massive tax and domestic policy bill raging across social media and in the Oval Office.
Range of Global Geopolitical Risk Scenarios is Widening: Fitch Ratings
Rapid shifts in foreign policy positions and a more bilateral and transactional US foreign policy may contribute to global geopolitical volatility in the next few years, amplifying uncertainty in geostrategic hotspots, says Fitch Ratings. Geopolitics has become an increasingly relevant risk for global credit, with rising geostrategic competition between the US and China, the Russian […]
U.S Effective Tariff Rate Declines to 13% from 23% with Lower China Duty: Fitch Ratings
Fitch Ratings has updated the U.S. Effective Tariff Monitor following the Joint Statement on U.S.-China Economic and Trade Meeting in Geneva, May 12, 2025, that reduces reciprocal tariffs. Fitch estimates that the U.S. effective tariff rate (ETR) is now 13.1%, a notable decline from 22.8% prior to the statement. The 34% reciprocal rate imposed by the U.S. […]