The Dutch economy has fallen into recession. The economy declined by 0.3% in the second quarter. This came after the economy shrank 0.4% in the first three months of the year.

Why did the Netherlands fall into recession after a strong COVID rebound?

Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals that there are 63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million.

Nearly 10 per cent of Indian women own crypto currency

The wealthy have been conditioned to be mostly unaffected by the recent ups and downs of the economic cycle. According to a recent UBS report, concerns about the recession may have finally reached the multimillionaires and millionaires.

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The post-Covid economic slowdown in China has hit local consumption demand and has fallen drastically in the world's biggest market.

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Let's embark on an insightful journey through India's economic trajectory since 1991. This period stands as a testament to India's remarkable transition from adversity to eminence, carving its presence on the world map.

India's economic journey since 1991| World Business Watch Special

A country can experience a demographic dividend when the proportion of its population that is of working age is larger than the proportion that is of retirement age. The window of opportunity for India's demographic dividend spans the years 2005-06 to 2055-56.

How India's demography is paying dividends

China's imports and exports fell more sharply than expected last month as weaker global demand threatened the recovery prospects of the world's second-largest economy.

China's trade slumps, threatening recovery prospects

China's economy slumps into deflation. Consumer prices fell year on year. For the first time in more than two years.

China's economy slides into deflation. What are its impacts on the global economy?

For the first time since 2021, both consumer and producer prices have contracted in China, a telltale sign of deflation as demand weakens in the world's second-largest economy. Producer prices fell for a 10th consecutive month, contracting 4.4% in July from a year earlier, slightly worse than expected.

More trouble for China's economy

In a recent development, Pakistan has decided to temporarily shelve a significant gas pipeline project aimed at importing cost-effective energy from neighbouring Iran.

The decision comes amid alleged pressure from the United States, which has imposed sanctions on Iran due to its nuclear programme, as per&nbsp;a Monday media release, reported the PTI.&nbsp;

<h2>Economic challenges and IMF assistance</h2>

The timing of this decision is crucial as Pakistan grapples with the urgent need to stabilise its financially strained economy.

To address this, Pakistan has sought assistance from the International Monetary Fund (IMF), which has agreed to provide a substantial loan of US$&nbsp;3 billion.

<h2>Origins of the project</h2>

Initially conceived as a trilateral venture involving India, Pakistan, and Iran, the gas pipeline project later evolved into a bilateral undertaking between Pakistan and Iran after India's withdrawal.

However, the implementation of the project has been hampered by the extensive sanctions imposed on Iran by the United States.

Pakistan has reportedly issued a "Force Majeure and Excusing Event" notice to Iran, formally suspending its contractual obligations in relation to the multi-billion-dollar Iran-Pakistan (IP) gas pipeline project.

This suspension has been attributed to external factors beyond Pakistan's control, particularly the stringent international sanctions on Iran.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-train-accident-may-be-result-of-sabotage-says-minister-623107">Pakistan: Train accident that killed dozens may be result of sabotage, claims minister</a>

<h2>Challenges and uncertainties</h2>

The suspension of the gas pipeline project raises significant concerns, especially given Pakistan's acute energy shortages, affecting its population of over 240 million people.

The project's suspension underscores the inability to proceed with its construction while the US sanctions remain in effect. Minister of State for Petroleum, Musadik Malik, noted that the project's timeline and completion remain uncertain until the sanctions are lifted.

<h2>International arbitration and potential penalties</h2>

Minister Malik acknowledged that the dispute over the force majeure notice may eventually need to be resolved through international arbitration.

The outcome of this process would determine any potential penalties or fines, contingent on the arbitrators' decision.

Iran has consistently spotlighted the importance of completing the project, asserting that it serves the national interests of both countries.

Iran has completed its side of the 1,150-kilometre&nbsp;pipeline, with the groundbreaking ceremony taking place in 2013. However, various hurdles, including international sanctions, have prevented Pakistan from fulfilling its commitments.

Also watch |&nbsp;Pakistan's textile industry in tatters

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/pakistans-textile-industry-in-tatters-623008/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<h2>Diplomatic efforts and future prospects</h2>

While Pakistan remains committed to the project, diplomatic negotiations are ongoing between Pakistan and the United States to seek exemption from the sanctions.

The indigenous gas supplies in Pakistan are depleting rapidly, exacerbating the demand-supply gap, which necessitates swift action to address the energy crisis.

(With inputs from agencies)

&nbsp;

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In a recent development, Pakistan has decided to temporarily shelve a significant gas pipeline project aimed at importing cost-effective energy from neighbouring Iran.

In a recent development, Pakistan has decided to temporarily shelve a significant gas pipeline project aimed at importing cost-effective energy from neighbouring Iran. The decision comes amid alleged pressure from the United States, which has imposed sanctions on Iran due to its nuclear programme, as per a Monday media release, reported the PTI. Economic challenges and IMF assistance The timing of this decision is crucial as Pakistan grapples with the urgent need to stabilise its financially strained economy. To address this, Pakistan has sought assistance from the International Monetary Fund (IMF), which has agreed to provide a substantial loan of US$ 3 billion. Origins of the project Initially conceived as a trilateral venture involving India, Pakistan, and Iran, the gas pipeline project later evolved into a bilateral undertaking between Pakistan and Iran after India's withdrawal. However, the implementation of the project has been hampered by the extensive sanctions imposed on Iran by the United States. Pakistan has reportedly issued a "Force Majeure and Excusing Event" notice to Iran, formally suspending its contractual obligations in relation to the multi-billion-dollar Iran-Pakistan (IP) gas pipeline project. This suspension has been attributed to external factors beyond Pakistan's control, particularly the stringent international sanctions on Iran. Also read | Pakistan: Train accident that killed dozens may be result of sabotage, claims minister Challenges and uncertainties The suspension of the gas pipeline project raises significant concerns, especially given Pakistan's acute energy shortages, affecting its population of over 240 million people. The project's suspension underscores the inability to proceed with its construction while the US sanctions remain in effect. Minister of State for Petroleum, Musadik Malik, noted that the project's timeline and completion remain uncertain until the sanctions are lifted. International arbitration and potential penalties Minister Malik acknowledged that the dispute over the force majeure notice may eventually need to be resolved through international arbitration. The outcome of this process would determine any potential penalties or fines, contingent on the arbitrators' decision. Iran has consistently spotlighted the importance of completing the project, asserting that it serves the national interests of both countries. Iran has completed its side of the 1,150-kilometre pipeline, with the groundbreaking ceremony taking place in 2013. However, various hurdles, including international sanctions, have prevented Pakistan from fulfilling its commitments. Also watch | Pakistan's textile industry in tatters Diplomatic efforts and future prospects While Pakistan remains committed to the project, diplomatic negotiations are ongoing between Pakistan and the United States to seek exemption from the sanctions. The indigenous gas supplies in Pakistan are depleting rapidly, exacerbating the demand-supply gap, which necessitates swift action to address the energy crisis. (With inputs from agencies) WATCH WION LIVE HERE:

Pakistan temporarily halts multi-billion dollar gas pipeline project with Iran amid US pressure: Report

China has the largest stock of financial assets in the world while this number looks enormous, its net financial worth as a percentage of the GDP though still higher than the large majority of countries has declined since 2007.

China's economic vulnerabilities: Rising local government debt

Amidst a tough global economy, things are uncertain for many businesses due to rising prices and interest rates. There's one stand and that is Ferrari. Watch this report to find out more.

Ferrari's recession-proof business

China's slowing post-lockdown recovery has several foreign companies worried. From banks to chipmakers, foreign companies are now treading cautiously on China. This is not good news for the world's second-largest economy and is expected to weigh on the bottom line of companies investing in China.

China's slowdown spooks companies

In its latest move, Sri Lanka has asked Japan to resume its billion-dollar investments. Sri Lanka foreign minister Ali Sabry said his country was seeking Japanese investment in various sectors. Sabry's statement comes at a time when the south asian island nation is working to restructure its massive debt.

Crisis-hit Sri Lanka rekindles ties with Japan

Asia-pacific markets are surging ahead of anticipated business activity data and inflation reports from various countries in the region.

Bolivia joins de-dollarisation bandwagon

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing.

Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ramped up calls for government support measures.

A sluggish job market and general uncertainty over the future mean consumer confidence is low.

China's State Council released on Monday a 20-point plan to increase consumption across the board, touching on housing, culture and tourism, as well as green consumption such as electric vehicles.

The measures aim to increase the supply of subsidised rental accommodation and try to solve other problems around housing, particularly for young people.

Once a driving force behind the economy, a crisis in the real estate sector means many developers are now fighting for their survival, exacerbating a crisis of confidence among potential buyers.&nbsp;

The State Council also said it would support the expansion of large-scale festivals and sporting events both on and offline, as well as an increase in spending on services involving catering and healthcare.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/china-issues-measures-to-expand-consumption-in-automobile-real-estate-sectors-620982">China launches steps to expand consumption in automobile, real estate sectors</a>

Infrastructure in rural areas will be improved to boost digital and green consumption, it added.

Officials told reporters they would "unleash consumption potential by optimising policy and institutional design" in the second half of the year.

<h2>PMI contracts again&nbsp;</h2>

Earlier on Monday the official manufacturing purchasing managers' index (PMI) -- a key measure of factory output -- came in at 49.3, below the 50-point mark that separates expansion and contraction, according to the National Bureau of Statistics (NBS).

July's reading was slightly higher than June's 49.0 figure and was better than forecast in a Bloomberg survey.

"The overall level of manufacturing prosperity continued to improve," NBS statistician Zhao Qinghe said in a statement.

The non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 51.5 in July from 53.2 in June, as activity in capital market services and real estate shrank.

"The data release showed mixed messages," Zhiwei Zhang, an analyst at Pinpoint Asset Management, wrote in a note, adding "it seems the economic momentum is still quite weak".

Also read |&nbsp;<a href="https://www.wionews.com/world/china-does-not-contribute-to-global-peace-and-stability-over-70-per-cent-respondents-say-in-pew-survey-620297">China does not contribute to global peace and stability, say over 70% respondents in Pew survey</a>

China&nbsp;this month said its economy grew 6.3 per cent in the second quarter, much weaker than the 7.1 per cent predicted in an AFP survey of analysts.

The country's top leaders, known as the Politburo, have warned that the economy faces "new difficulties and challenges" as well as "hidden dangers in key areas".

Zhao also pointed to a low volume of overseas orders, describing a "complicated and severe external environment" and lacklustre demand as major challenges for Chinese manufacturers.

In June, exports dived 12.4 per cent, their biggest decline in three years, according to customs figures.&nbsp;

"The Politburo meeting acknowledged the challenge the economy faces," said Zhang, the analyst.

"The key issue is what policies will be launched after the meeting and how effective they will be."

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Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing.

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing. Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ramped up calls for government support measures. A sluggish job market and general uncertainty over the future mean consumer confidence is low. China's State Council released on Monday a 20-point plan to increase consumption across the board, touching on housing, culture and tourism, as well as green consumption such as electric vehicles. The measures aim to increase the supply of subsidised rental accommodation and try to solve other problems around housing, particularly for young people. Once a driving force behind the economy, a crisis in the real estate sector means many developers are now fighting for their survival, exacerbating a crisis of confidence among potential buyers. The State Council also said it would support the expansion of large-scale festivals and sporting events both on and offline, as well as an increase in spending on services involving catering and healthcare. Also read | China launches steps to expand consumption in automobile, real estate sectors Infrastructure in rural areas will be improved to boost digital and green consumption, it added. Officials told reporters they would "unleash consumption potential by optimising policy and institutional design" in the second half of the year. PMI contracts again Earlier on Monday the official manufacturing purchasing managers' index (PMI) -- a key measure of factory output -- came in at 49.3, below the 50-point mark that separates expansion and contraction, according to the National Bureau of Statistics (NBS). July's reading was slightly higher than June's 49.0 figure and was better than forecast in a Bloomberg survey. "The overall level of manufacturing prosperity continued to improve," NBS statistician Zhao Qinghe said in a statement. The non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 51.5 in July from 53.2 in June, as activity in capital market services and real estate shrank. "The data release showed mixed messages," Zhiwei Zhang, an analyst at Pinpoint Asset Management, wrote in a note, adding "it seems the economic momentum is still quite weak". Also read | China does not contribute to global peace and stability, say over 70% respondents in Pew survey China this month said its economy grew 6.3 per cent in the second quarter, much weaker than the 7.1 per cent predicted in an AFP survey of analysts. The country's top leaders, known as the Politburo, have warned that the economy faces "new difficulties and challenges" as well as "hidden dangers in key areas". Zhao also pointed to a low volume of overseas orders, describing a "complicated and severe external environment" and lacklustre demand as major challenges for Chinese manufacturers. In June, exports dived 12.4 per cent, their biggest decline in three years, according to customs figures. "The Politburo meeting acknowledged the challenge the economy faces," said Zhang, the analyst. "The key issue is what policies will be launched after the meeting and how effective they will be." WATH WION LIVE HERE:

China increases consumption after disappointing post-Covid economic recovery data

China once had There are worries that the mighty economy is currently going through a tough period. Famous economists have raised concerns about China's trajectory in the future, comparing it to Japan's economic fall in the 1990s and asking whether another country would emerge as a contender to spur global growth.

Explained: Why economists are concerned about China

The Chinese economy appears to be hitting a bit of a rough path with concerns rising about its future trajectory. Renowned economists have now sounded the alarm drawing comparisons to Japan's economic decline or stagnation that began in the 1990s. The question is will China's economy also witness a period of stagnation an expert gets more details.

India's economic ascents as China's stumbles leaving economists concerned

Mahendra Singhi, a business executive who is currently in Chennai ahead of the G20 meeting on climate sustainability, was interviewed by WION's senior correspondent Siddarth MP for more information on the coalition of international companies that have united for the cause of sustainability and resource efficiency.

G20 nations launch circular economy coalition

The second quarter of this year saw an acceleration in US economic growth, exceeding analysts' expectations and supporting the Biden administration's claim that the boom is picking up steam. The government reported on Thursday that the GDP increased by 2.4 percent on an annualized basis from April through June. This is the second piece of good news for the White House this week after forecasts from the Congressional Budget Office and experts at the Federal Reserve indicated that the United States will avoid a recession this year.

US: World's largest economy defies growth expectations

Today is the 32nd anniversary of the historic 1991 budget, which changed india's economy forever. We take a look at how many economic indicators have changed over the last 3 decades.

1991 vs 2023: 32 years of economic liberalisation | World Business Watch

Sri Lanka's foreign minister Ali Sabry has emphasised on strong connectivity between the two countries highlighting how both ferry and aviation will increase people-to-people linkages. Speaking to our diplomatic correspondent Sidhant Sibal from Colombo, FM Sabry on the proposal of land connectivity said, " Connecting with each other could be a good opportunity. But the proposal, first of all, you need to study the feasibility of it, see the benefit for both countries and see that it will be beneficial for both countries and the both nations then we must go ahead with it." Earlier this week, Sri Lankan President Ranil Wickremesinghe visited New Delhi, with both countries agreeing on new ferry services among other key connectivity issues.

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Indian Prime Minister Narendra Modi on Friday said that India and Sri Lanka have decided to carry out feasibility studies on establishing a petroleum pipeline and a land bridge connectivity project between the two countries.

India-Sri Lanka to explore petroleum line, land bridge to boost economic ties

The Sri Lankan President is scheduled to arrive in India. Leading up to his visit President Ranil Wickremesinghe made a sharp comment concerning his presidency and his surname. According to the reports, Ranil met with leaders from Tamil political parties on Wednesday. The meeting revolved around solving issues concerning Sri Lankan Tamils including more autonomy to certain provinces in the country.

Sri Lankan President Ranil Wickremesinghe to undertake his 2-day official visit to India

Consumer spending in the United States keeps the economy afloat. And, June consumer spending boosts the US economy. This year, the US is likely to skip the recession.

US economy will skip recession in 2023: Data

The International Monetary Fund(IMF) has released a staff report about Pakistan's poor handling of the economy and its inability to maintain steady operations. The IMF reports also uncover the conditions tied to a $3 bn standby arrangement package provided to Pakistan with risk to program implementation exceptionally high, policy slippage, and delays in external financing disbursement. This could jeopardise the country's macro-financial stability and debt sustainability.

IMF urges tightening measures as Pakistan's economy falters

Here, we bring you a quick round-up of all the latest news and top headlines from all across the globe: As foreign investors continue to increase their bets on India a resilient domestic economy and relatively cheap valuations are helping the bulls to stay in control. Morgan Stanley analysts have picked Apple as their top stock for the rest of 2023.

India's economic boom to drive Apple stock

According to a groundbreaking research paper by the reserve bank of India, the country aims to achieve developed nation status by 2047. To achieve this, India must maintain an astounding annual growth rate of 7.6%. The current per capita income stands at $2,500, but to meet the high-income country criteria set by the world bank, India must soar to more than $21,664 by 2047.

India needs 7.6% growth to achieve developed status

It's been over 500 Days since Russia began its military operation in Ukraine the crossfire continues but as Battle Cry cries echo it is the common man on both sides they are feeling the pain. The pain of war is felt by all not just the warring sides. Today we dive into the battlefield of Russia's Financial landscape where water on wallets points at a longing for stability. Will the Russian people dare to dream again or will they surrender? Take a look at this report.

News in numbers: Impact of Russia-Ukraine war

Over the last year, the jump in interest rates has wiped off more than two trillion dollars of household wealth in Britain right and this is due to a fall in house prices.

UK: Biggest wealth drop in decades | Latest World News

A picture from the G20 Finance Ministers' meeting in India shows how women are leading some of the biggest economies in the world. Even in the 21st century women are mostly absent from the financial sectors. The economy forums are usually dominated by men and their black suits but these women are changing the norm women had in the International Monetary Fund, the World Trade Organization, the US treasury and European Central Bank. However, more broadly women remain a small minority in this field.

Impact of Women on the global economy with refreshing images from G20 Meet

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