Global Scans · Economics · Weekly Summary

• [New] AI remains one of hottest areas to invest in, and has the potential to have a huge impact on the global economy (estimated by PWC to be $15.7trn by 2030). BNY Mellon
• [New] China is flooding markets, undermining competition and putting economies and livelihoods at risk around the world. UPI
• [New] Reduced monitoring for small groundwater systems will reduce the economic burden on small systems nationally by $21 million per year for three years. Federal Register
• [New] The use of previously collected PFAS monitoring data will reduce the economic burden on small systems nationally by $7 million dollars per year for three years. Federal Register
• [New] With extensive storage and expansion capabilities, the MCHH project will help drive the growth of the domestic and global hydrogen economy to accelerate renewable hydrogen adoption at scale. TradingView
• [New] The Atlantic Shores project will devastate the economies of the shore municipalities by deterring visitors and eliminating thousands of jobs. The Washington Post
• [New] The financial inclusion plans will help women who are about 50% of Nigeria's population, play more vital roles in global economy. BusinessDay Media Limited
• [New] Water markets, which allow competing users to trade water voluntarily, offer Florida the best hope of aligning economic growth, water conservation, and ecosystem health. Property and Environment Research Center
• [New] ASEAN will become the fourth-largest economy in the world by 2030, after the US, China and the European Union. Prime Minister's Office Singapore
• [New] Factors such as high interest rates and economic uncertainty could potentially reduce the growth of global electric car sales in 2024. IEA
• [New] Despite the limited technology risk, the cost of capital for utility-scale clean energy generation projects in Africa is at least two to three times higher than in advanced economies and China. IEA
• [New] Anglo American explains that there is continuing uncertainty around economic growth prospects has led to a continued cautious purchasing approach by Sightholders and the recovery in rough diamond demand is expected to be gradual through the rest of the year. Share Talk
• [New] Hydrogen has the potential to transform global energy markets and to create trillions of dollars of economic activity. BOE Report
• [New] The global economy has sidestepped the looming threat of a crippling recession, with the IMF revising its forecast for worldwide aggregate growth in 2024 to 3.2%, up from the previous 2.9% estimated in October. TheUNN
• [New] South Africa, Africa's most industrialised country, will become Africa's biggest economy with a GDP of $373 billion - a position the IMF expects it to retain until 2027. Business Insider Africa
• [New] Interest rates will likely remain stubbornly high for longer than previously expected, while the global economy adjusts to structural challenges, including fractured trade relationships, emerging geopolitical risks, and technological barriers to decarbonizing the global economy by 2050. Business Council of Canada
• [New] High inflation, energy prices and interest rates have mired the UK in economic stagnation in recent years but all three obstacles to growth have now either fallen away already or are expected to diminish in 2024. AOL
• [New] On the upliftment of minorities, it said, the economic empowerment of minorities is a necessary step for India to realise its full potential and promises to ensure that banks will provide institutional credit to minorities without discrimination. The New Indian Express
• [New] Even with significant reductions in CO2 emissions starting today, the global economy is poised to experience a 19% decrease in income by 2050 due to the impacts of climate change. SciTechDaily
• [New] Global warming of 3 °C increases the risk of extreme rainfall worldwide, which reduces global GDP, on average, by 0.2% - which, at the current size of the global economy, would equal US$ 200 billion. ScienceDaily
• [New] Shell's latest LNG outlook report projected demand for LNG to more than double by 2040, as industrial coal-to-gas switching gathers pace in China, and South Asian and South-East Asian countries lean more on LNG to support economic growth. Energy Connects
• [New] The IGP forecasts a surge in employment to over 100,000 by 2030, with investments in new offshore wind projects expected to create an economic opportunity worth £92 billion by 2040. Energy Live News
• [New] By mandating the employment of at least one Omani citizen in foreign investors' businesses, Oman seeks to create sustainable employment opportunities, enhance skills development, and foster economic growth that benefits both investors and local population. Times of Oman

Last updated: 28 April 2024