#WorldEconomic

[fullyfundedscholarships]

World Economic Forum Annual Meeting

[thxnews]

World Bank: Sharpest Drop in Commodity Prices Since Pandemic

  Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report. The drop in prices, however, is expected to bring little relief to the nearly 350 million people across the world who face food insecurity. Although food prices are expected to fall by 8% in 2023, they will be at the second-highest level since 1975. Moreover, as of February this year, annual food price inflation is at 20% globally, the highest level over the past two decades.  

World Bank signage. Photo by Addy Cameron-Huff, Flickr.   Indermit Gill, the World Bank’s Chief Economist and Senior Vice President for Development Economics said: “The surge in food and energy prices after Russia’s invasion of Ukraine has largely passed due to slowing economic growth, a moderate winter, and reallocations in the commodity trade,” “But this is of little comfort to consumers in many countries. In real terms, food prices will remain at one of the highest levels of the past five decades. Governments should avoid trade restrictions and protect their poorest citizens using targeted income-support programs rather than price controls.”   Overall, commodity prices are expected to fall by 21% in 2023 relative to last year. Energy prices are projected to decline by 26% this year. The price of Brent crude oil in U.S. dollars is expected to average $84 a barrel this year—down 16% from the 2022 average. European and U.S. natural-gas prices are forecast to halve between 2022 and 2023, while coal prices are expected to decrease 42% in 2023. Fertilizer prices are also projected to fall by 37% in 2023, which would mark the largest annual drop since 1974. However, fertilizer prices are still near their recent high last seen during the 2008-09 food crisis.   Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of Prospects Group, said: “The decline in commodity prices over the past year has helped reduce global headline inflation." "However, central bankers need to remain vigilant as a wide range of factors, including weaker-than-expected oil supply, a more commodity-intensive recovery in China, an intensification of geopolitical tensions, or unfavorable weather conditions, could push prices higher and reignite inflationary pressures.”   Despite the large declines expected this year, prices of all major commodity groups will remain well above their 2015-2019 average levels. European natural gas prices will hover at almost three times the average in 2015-19. Energy and coal prices will also remain above the pre-pandemic average.   Valerie Mercer-Blackman, Lead Economist in the World Bank’s Prospects Group said: “Metal prices, which increased slightly early in the year, are expected to fall by 8% relative to last year, primarily because of weak global demand and improved supplies,” “In the longer term, however, the energy transition could significantly lift the demand for some metals, notably lithium, copper, and nickel.”   A Special Focus section of the report evaluates the performance of a wide range of approaches used to forecast prices of seven industrial commodities (oil and six industrial metals). A key finding of the study is that futures prices, which are widely used for price forecasts, often lead to large forecast errors. Econometric models based on multiple independent variables tend to outperform other approaches as well as futures prices. The analysis suggests that augmenting model-based forecasting approaches—by incorporating the dynamics of commodity prices over time and controlling for other economic factors—enhances forecast accuracy. Download the report: http://www.worldbank.org/commodities   Sources: THX News & World Bank.     Read the full article

[news247worldpressposts]

#Breaking: #Ukraine's Volodymyr #Zelenskiy plans to meet with JPMorgan CEO #JamieDimon at the #WorldEconomic Forum in #Davos

Ukraine’s Volodymyr Zelenskiy plans to meet with JPMorgan CEO Jamie Dimon at the World Economic Forum in Davos. Source: X

[babyawacs]

10

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[silpainfratech]

According to the #WorldEconomic Outlook update released by the #IMF inflation in India is #expected to come down from 6.8% in 2022 to 5% in 2023 and 4% in 2024.

#silpa #silparaghava #ResidentialPlots #HMDA #DTCP

[fukuiyusuke]

¥€$-the world economic. oil on self founded linen canvas, 145.5 x 97 cm, 2016 "Text Tour" Opening Today 19:00 at AQB BUDAPEST. #wildpainting #worldeconomic #air #aqb #worldeconomicsystem #everybodyneedsart #exhibition #texttour #studio #世界経済 #展覧会 #ブダペスト #ハンガリー #オープニング

[fullyfundedscholarships]

World Economic Forum Annual Meeting

[wilsonchifike]

#onceuponatime the #shippingindustry basically determined #worldeconomics .. I watched a feature not too long ago on @carteblanchetv about the #lighthouseculture dying a slow death .. it would be such a pity if that was ever allowed to happen .. #wilsonchifike (at Lighthouse Restaurant Swakopmund) https://www.instagram.com/p/Cc3-knqDB2Jhi4t2WTPhI0ekcsN2-gIb5nOHgM0/?igshid=NGJjMDIxMWI=

[theeconomicgomez]

Junkermann 

[vilaspatelvlogs]

डिजिटल वर्ल्ड की तैयारी: देश में नेट यूजर्स महिलाओं की संख्या पुरुषों की तुलना में आधी, वर्ल्ड इकोनॉमिक फोरम दूर करेगा कनेक्टिविटी में गैर-बराबरी

डिजिटल वर्ल्ड की तैयारी: देश में नेट यूजर्स महिलाओं की संख्या पुरुषों की तुलना में आधी, वर्ल्ड इकोनॉमिक फोरम दूर करेगा कनेक्टिविटी में गैर-बराबरी

Hindi News Utility Zaroorat ki khabar Less Than Half Of The Women In The World, Less Than Half Of The Women, The Internet, The World Economic Forum Will Remove Equality In Connectivity Ads से है परेशान? बिना Ads खबरों के लिए इनस्टॉल करें दैनिक भास्कर ऐप नई दिल्ली32 मिनट पहलेलेखक: आदित्य सिंह कॉपी लिंक बीते कुछ साल डिजिटल कनेक्टिविटी के लिहाज से बहुत ही महत्वपूर्ण रहे हैं। बीते दशक में दुनिया…

[jadesiress]

Reposted from @regeneration180 - ...and much much more. 🍎🖤🍏 #passtheory #intelligence #problemsolvers #nextgen #metaphysics #lateralthinking #convergentthinking #divergentthinking #homeeconomics #worldeconomics #socialemotionallearning #maat #nguzosaba #genderstudies #buildingtheculture #ourkids #schoolsnotprisons #farfrommainstream #extraordinary #cooperativeschooling #homeschooling #communityschoolhouse #psychologistsofinstagram #schoolpsychologistsofinstagram - #regrann https://www.instagram.com/p/B2ANYNTlRIE/?igshid=33smz3wbrllb

[a-r-t-i-e-s]

[famouspeopleofindia]

Ratul Puri

Ratul Puri is the Chairman & Board Of Director of Hindustan Power Projects Pvt. Ltd. Ratul Puri is evolving solutions to usher energy sufficiency in India and working Indian energy sector, he has enabled the organization to emerge as one of the leading integrated power players in the country. Ratul Puri has been invited to part of the WorldEconomic Forum as one of the Young Global leaders. He attended Carnegie Mellon University.

Born: 19 July 1972 (age 49 years) Spouse: Kavita Puri Parents: Deepak Puri, Nita Puri

Education

Ratul Puri is an alumnus of Carnegie Mellon University, the Pittsburgh-based global research university with a bachelor's degree in computer engineering, mathematics, and computer science.

Recognition

In 2002, Puri was the Ernst & Young "Entrepreneur of the Year" award for his contribution towards manufacturing industry in India. He is part of the many think tanks that are evolving solutions to usher energy sufficiency in India and was part of the World Economic Forum as one of the Young Global leaders. In 2007, Business Today rated him among the "Top 21 Young Leaders" in the country who could shape India’s destiny in the 21st century. Dataquest magazine has named him amongst the "Young Brigade in the IT Industry".

Read more about Ratul Puri 

- Ratul Puri Bio 

- Ratul Puri Wiki

[shreeganesh02-blog]

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[mindshealthcare-blog]

#coronavirus #economic #worldeconomic #news