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Knowledge Update

IMF forecasts world economy to grow at 3.1% in 2016

​Washington, Oct 4 (IANS) The International Monetary Fund (IMF) on Tuesday maintained its forecast for global growth in 2016 at 3.1 per cent, saying the subpar trend will continue without determined policy action.

Stock markets reward investment in innovation in long run

​New York, Oct 3 (IANS) Companies that do invest in building their innovative capacity are rewarded over the long run by higher stock market returns and profits, say researchers including one of Indian-origin.

Pound drops in value as May signals 'hard Brexit'

​London, Oct 3 (IANS) The pound sterling was the worst performer among major currencies on Monday, after British Prime Minister Theresa May said Britain would kick off the process of separating from the European Union (EU) by the end of March 2017.

Devaluation of Japanese financial assets deepens after Brexit

​Tokyo, Sep 26 (IANS) Financial assets held by Japanese have lost value between March and June due to the effects of Brexit on the markets, marking two consecutive quarters of decline, according to data released by the Bank of Japan (BOJ) on Monday.

Yuan's inclusion in SDR basket marks important milestone: IMF

​Washington, Sep 22 (IANS) The inclusion of the Chinese yuan in the Special Drawing Right (SDR) basket by the International Monetary Fund (IMF) is an important milestone for the international monetary system, said a senior IMF official.

World Banks loans Egypt $1 bn as economic relief

Cairo, Sep 9 (IANS) The World Bank on Friday transferred $1 billion to Egypt to boost the Arab country's economic reform programme, a media report said.

"This is the first batch of a $3 billion deal allocated for funding a government economic developmental plan," Egyptian Minister of International Cooperation Sahar Nassr was

Japan bank blames Brexit as it unleashes more monetary stimulus

​Tokyo, July 29 (IANS) The Bank of Japan on Friday announced a modest expansion of its monetary easing programme, blaming Britain's decision to leave the European Union as the biggest uncertainty facing world markets.

Smartphone sales boost Huawei's profits up to 40 per cent

​Beijing, July 26 (IANS) Riding on smartphone sales like its flagship H1 device, Chinese smartphone maker Huawei has posted a 40 per cent half-yearly profit.

"We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations,"

Twitter shares tumble after poor revenue growth, weak outlook

New York, July 27 (IANS) Although it added three million users -- one million more that what analysts had expected -- the not-so-promising second quarter earnings results led to the shares of micro-blogging website Twitter tumbling on Tuesday which wiped out nearly 10 per cent from its share price in after-market trading.

Chinese city launches maritime ecological protection fund

​Beijing, July 25 (IANS) The Chinese city of Sansha has decided to allocate five million yuan (about $748,000) annually for maritime environmental conservation for the next three years.