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April 11, 2023
IMF announces World Economic Outlook April 2023
Washington DC, April 11, 2023 — In its World Economic Outlook’s press briefing, the IMF (International Monetary Fund) announced today that the baseline forecast for global output growth is 0.1 percentage points lower than that predicted in the January 2023 WEO Update. It would rise to 3.0 percent in 2024.
“The world economy is still recovering from the unprecedented upheavals of the last three years, and the recent banking turmoil has increased uncertainties. As a result, we expect global output growth to fall from 3.4% last year to 2.8% in 2023 before rising to 3% in 2024, mostly unchanged from our January projections. Advanced economies would see an especially pronounced growth slowdown from 2.7% in 2022 to 1.3% in 2023. Global headline inflation is set to fall from 8.7% in 2022 to 7% in 2023 due to lower commodity prices, but underlying core inflation is proving to be stickier. Importantly, this outlook assumes that recent financial stresses remain contained,” said Pierre-Olivier Gourinchas, the IMF’s Chief Economist.
Much uncertainty clouds the short- and medium-term outlook as the global economy adjusts to the shocks of 2020-22 and the recent financial sector turmoil. As a result, recession concerns have gained prominence, while worries about stubbornly high inflation persist.
“Once again, risks are heavily tilted to the downside. They have risen with the recent financial turmoil. Most prominently, recent banking system turbulence could result in a sharper and more persistent tightening of global financial conditions. The simultaneous rate hikes across countries could have more contractionary effects than expected, especially as debt levels are at historical highs. There might be a need for more monetary tightening if inflation remains stickier than expected. These risks and more could all materialize at a time when policymakers face much more limited policy space to offset negative shocks, especially in low-income countries,” added Gourinchas.
With the fog around current and prospective economic conditions thickening, policymakers have a narrow path toward restoring price stability while avoiding a recession and maintaining financial stability. However, achieving strong, sustainable, and inclusive growth will require policymakers to stay agile and be ready to adjust as information becomes available.
“First, as long as financial stress is not systemic as it is now, the fight against inflation should remain the priority for central banks. Second, central banks should use separate tools to safeguard financial stability and clearly communicate their objectives to avoid unwarranted volatility. Further, financial policies should remain laser-focused on preserving financial stability and watch for any buildup of risks in banks, non-banks, and the real estate sectors. Third, in many countries, fiscal policy should tighten to ease inflation pressures, restore debt sustainability, and rebuild fiscal buffers. Finally, in the event of capital outflows that raise financial stability risks, emerging market and developing economies should use the integrated Policy framework, combining temporary targeted foreign exchange interventions and capital flow measures where appropriate,” said Gourinchas.
The International Monetary Fund (IMF) lowered India’s economic growth projection for the current fiscal to 5.9 percent from 6.1 percent earlier. Yet India will continue to be the fastest-growing economy in the world.
Source: IMF
|GlobalGiants.Com|
Edited & Posted by the Editor | 1:52 PM | View the original post
Natural Diamond Council presents Jewellery Trend Report saying "Maximalism" is the Flavour of the Season
— Natural Diamond Council urges consumers to celebrate life the Avant Garde way this diamond month —
Photo: NDC Jewellery Trend Report 2023. Image provided by & copyright © Natural Diamond Council.
Photo: XXL Chokers and Earrings. Image provided by & copyright © Natural Diamond Council.
Photo: Diamonds with Gemstone. Image provided by & copyright © Natural Diamond Council.
Photo: Modern Solitaire. Image provided by & copyright © Natural Diamond Council.
MUMBAI, India, April 11, 2023 — The Natural Diamond Council (NDC) is back with the bold third edition of their Jewellery Trend Report, offering connoisseurs an insight into what is in vogue this season. The year’s overarching theme is ‘Maximalism.’ It is bound to captivate audiences worldwide, show-stopping the red carpets and being the favored glamour choice during the festive seasons, NDC remarked. Maximalism is about living life unapologetically, which has been identified as the ruling influence this season by NDC’s Style Collective. Featuring experts across genres like design, fashion, and journalism, the members of the erudite Style Collective include Rhea Kapoor, HH Maharani Radhikaraje Gaekwad of Baroda, Bibhu Mohapatra, Roohi Oomerbhoy Jaikishan, Katerina Perez, Sarah Royce-Greensill and Nonita Kalra.
The report identifies three main trends to embody the philosophy of great styles and being unafraid to be seen this year while staying rooted in sustainable slow fashion. The report says that this year, the designs that are headlining the ensemble are — Boisterous Earrings and Chokers, Diamonds with Gemstones, and Modern Solitaire.
The larger-than-life XXL Earrings & Chokers, glittering with natural diamonds, are a diamond lover’s dream. A more substantial take on traditional jewelry, they, quite literally, offer accessories and style statements.
The second trend, Diamonds with Gemstones, embraces the playful side of natural diamonds by complimenting them with colorful gemstones.
Modern Solitaire is a contemporary take on the classic, representing the entire theme of maximalism through the ‘power of one’ with large glistening jewels that allow the wearer to go all out. Commanding attention as the light hits them, these solitaires have what it takes to be the life of the party.
Richa Singh, Managing Director of Natural Diamond Council India & The Middle East, said, “Our 2023 jewelry trend report celebrates the rising desire to be your unique self and live in the now. Trends, by their inherent nature, are dichotomous and cyclical, but what remains constant is our love for jewelry. Under the umbrella of living maximal, natural diamond jewelry helps consumers find a physical expression of their individuality. The third edition of our jewelry trend report combines Avant-Garde, color, and larger-than-life pieces that make you feel special. This report reflects the current consumer outlook and is a product of some of the best minds in design and fashion. It gives key insights into the world of diamond jewelry and its evolution as a symbol of slow fashion over time and generations.”
The Natural Diamond Council (NDC) inspires and informs consumers about the incredible world of natural diamonds through its Only Natural Diamonds platform. The platform is the authoritative publisher of all things natural diamonds, including celebrities and pop culture, epic diamonds and jewelry trends, engagements and weddings, and diamond buying guides.
Natural Diamond Council (NDC) is a global organization mainly operating in the US, China, India, and Europe.
Source: Natural Diamond Council
|GlobalGiants.Com|
Natural Diamond Council presents Jewellery Trend Report 2023
Edited & Posted by the Editor | 10:57 AM | View the original post
Automobili Lamborghini Hosts U.S. Debut of New Flagship Super Sports Car, Revuelto, at a Private Event Preceding the New York International Auto Show
Revuelto is Lamborghini’s first plug-in hybrid, boasting more than 1,000 horsepower!
Photo: Lamborghini Revuelto in New York. Image provided by Lamborghini.
New York, NY / Sant’Agata Bolognese (Italy), April 09, 2023 - The newly launched Lamborghini Revuelto, the first super sports V12 hybrid plug-in HPEV (High-Performance Electrified Vehicle), made its U.S. premiere this week in New York City at a private evening reception. At the Lamborghini Lounge NYC in the heart of the Chelsea Arts District, Lamborghini revealed the highly anticipated Revuelto to eager guests at an exclusive celebration. Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, was joined by loyal customers, VIPs, and the media.
“As the company’s top sales market, it was important for Lamborghini to bring the Revuelto to the U.S. for our top customers to see for themselves just one week after the global debut,” said Winkelmann. “As the fastest, most technologically advanced, and most customizable Lamborghini in history, customer demand has been robust. As a result, the anticipation for the first customer deliveries by the end of this year is high.”
This new hybrid plug-in reaches a new paradigm in performance, sportiness, and driving pleasure from its distinctive new architecture; innovative design; maximum-efficiency aerodynamics; and a new carbon frame concept. An output of 1015 CV (1,001 horsepower) comes from the combined power of an entirely new combustion engine with three electric motors, alongside a double-clutch gearbox that makes its debut on a 12-cylinder Lamborghini for the first time. So, with an optimized weight distribution, the Revulto is agile and effective on the road as well as on the racing track.
Source: Automobili Lamborghini
|GlobalGiants.Com|
Lamborghini Revuelto - From Now On
Edited & Posted by the Editor | 2:40 AM | View the original post
