28th July 2019

Global Developments Bottomline: The IMF revised downwards its global growth projection to 3.2% this year and 3.5% in 2020, in its latest update of the World Economic Outlook. The PMI readings continue to reinforce the diverging trends between the manufacturing and services sector; policy uncertainty and resulting delays in business investments expedites the downhill move…

21st July 2019

Global Developments Bottomline: Geopolitical tensions are on the rise with the seizing of British vessels in the Strait of Hormuz, resulting in statements about “serious consequences”. Meanwhile, the IIF reported an increase in global debt to USD 246.5trn in Q1 this year, almost 320% of global economic output. China’s debt, at over USD 40trn, topped 300% of GDP…

14th July 2019

Global Developments Bottomline: Trade wars continue to bubble up – Japan-Korea trade spat on tighter export controls gathered pace last week (with Japan reportedly considering the removal of South Korea from a list of trusted export markets); in France, lawmakers approved a tax on big tech companies which is likely to result in retaliatory tariffs from the…

7th July 2019

Global Developments Bottomline: With a stop-gap truce announced at the G20, China-US trade negotiations have resumed but with “no timeline” in mind, according to the White House economic advisor Kudlow. Chinese chatter seems to be tipped towards the negative side with the commerce ministry spokesperson mentioning that all imposed tariffs must be removed for the…