The war in the Middle East has dented economic growth prospects worldwide, with a more severe shock likely if no effective ceasefire is agreed before 2027, the OECD warned Wednesday. Global economic growth is now forecast to slip to 2.8 percent for 2026 if Gulf exports of oil and gas return to pre-conflict levels in […]
OECD
OECD ups world economic outlook as tariffs contained for now
The world economy will grow more than previously forecast this year after absorbing the shock of US President Donald Trump’s tariffs, but their full impact remains uncertain, the OECD said Tuesday. In June, the Paris-based organisation had cut its forecast from 3.1 percent to 2.9 percent, warning at the time that Trump’s tariffs would stifle […]
World economy to slow, ‘paying the price of war’: OECD
The world economy will take a bigger hit than previously forecast next year due to the effects of Russia’s war in Ukraine, the Organisation for Economic Co-operation and Development (OECD) said Monday. In a bleak report titled “paying the price of war”, the Paris-based organization noted that the conflict aggravated inflationary pressure when the cost of […]
Landmark global corporate tax deal finally wins accord
A group of 136 countries on Friday set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation in a landmark deal that U.S. President Joe Biden said levelled the playing field. The deal aims to end a four-decade-long “race to the bottom” by setting a […]
Ireland’s low-tax economy can survive OECD reform: experts
Far-reaching global tax reforms are reaching fruition and on the face of it, Ireland has most to lose after the small European economy threw open its doors to US multinationals. On Thursday, 130 countries endorsed an outline agreement by the Organisation for Economic Co-operation and Development (OECD), which groups 38 wealthy nations, to level up […]
Why Kings Hand Stepped Down?
Is taking bold decisions at crucial times is the hallmark of great leadership? Is the reshuffling of the Federal Cabinet quintessential to bid higher yields or it’s the exogenous factors that lead the King to take such decision? How King’s hand (the Ex-Finance Minister Asad Omar) got entrapped into the reshuffle? Will the reshuffle bring […]
Millennials hurt most by middle class squeeze: OECD
The middle class is getting squeezed and it is the millennialgeneration above all that is bearing the brunt, the OECD said, urging action to help households struggling with the rising cost of eduction and housing as incomes stagnate. “Today the middle class looks increasingly like a boat in rocky waters,” the OECD’s Secretary-General Angel Gurria […]
Digital lenders lure Argentines out of shadow economy
María Rosales, 39, is one of millions of less affluent Argentines locked out of the traditional financial sector. The former cruise ship worker lost her job in 2015 and has relied on her family for financial support to stay afloat since. Now her small pot of savings is in demand from a new group of […]
Pakistan and peace in Afghanistan
US Department of State Deputy Spokesperson Robert Palladino at a press briefing said that Pakistan could play an important role in bringing about a negotiated settlement in Afghanistan and expressed gratitude to Islamabad for whatever it has done to this end.The US envoy seeking a peace deal with the Taliban to end 17 years of […]