The IMF also raised its 2017 global growth forecast by 0.1 percentage point from 3.4 percent to 3.5 percent.
This was the first time for the IMF to revise its annual global economic forecast in the World Economic Outlook since January 2014 (from 3.6 % to 3.7%). The World Economic Outlook is issued four times a year in every January, April, July, and October.
As the reason for the upward revision of its global economic growth forecast, the IMF explained, "The industrialized economies are improving faster than expected thanks to the recovery of the global manufacturing industry and the improvement in the sentiment of economic players since the U.S. presidential election."
The IMF raised its annual economic growth forecast for the industrialized economies by 0.1 percentage point to 2.0 percent from 1.9 percent.
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip