Economic Challenges News - Latest Updates & Headlines
S. Korea ranks 29th in global GDP growth in Q4 amid domestic slump
Seoul, April 6: South Korea ranked 29th out of 37 major economies in terms of economic growth during the fourth quarter of 2024, as weak domestic demand and heightened political uncertainty weighed on the nation's performance, a central bank report showed on Sunday.
South Korea proposes $6.8 billion extra budget to support economy
Seoul, March 30: The government here on Sunday proposed a supplementary budget worth at least 10 trillion won (US$6.8 billion) to support the economy hit by political uncertainties and destructive wildfires.
Hyundai Steel shifts to emergency management mode amid tariff, labour woes
Seoul, March 14: Hyundai Steel said on Friday it has shifted to an emergency management mode in response to growing challenges, including the recent imposition of steel tariffs by the United States and an ongoing strife with unionised workers.
Lowest income class' food expenses rise 40 up in South Korea amid inflation
Seoul, March 2: Food expenses for the lowest income class in South Korea rose nearly 40 per cent over the past five years as soaring food inflation placed a heavier financial burden on low-income individuals, government data here showed on Sunday.
US trade tariffs: Domestic challenges remain for China amid high uncertainty
New Delhi, Feb 27: As countries devise new strategies to address trade tariffs imposed by the US government, domestic challenges still remain for China like slow growth in the property sector amid weak consumption, according to a report on Thursday.
ArcelorMittal shutting down loss-making long steel business in South Africa, 3,500 jobs likely to go
Johannesburg, Jan 6: Steel producer ArcelorMittal South Africa Ltd announced on Monday that it is shutting down its loss-making long steel business in the country, a move that is likely to hit about 3,500 direct and indirect jobs.
Bloodbath in Indian markets amid fears of HMPV in India, Sensex, Nifty down by over 1.5 pc
Mumbai, January 6: The equity benchmarks shed over one and a half per cent in the trading session on Monday, impacted measurably by the global cues, weakness in the Indian rupee, and detection of human metapneumovirus (HMPV) in India.The Nifty 50 at the National Stock Exchange (NSE) on Monday ended at 23,616.05, down over 388 points, and the BSE Sensex at 77,964.99, declining over 1,258 points.The indices of all the sectors at NSE remained heavily in the red territory, with PSU Banks trailing about 4 per cent. On BSE, midcap and smallcap indices were down 2-3 per cent.