South Asia’s regional economic growth is expected to accelerate to 7.1 per cent in 2019, underpinned by strengthening investment and robust consumption, said the World Bank on Tuesday (8).
India is forecast to accelerate to 7.3 per cent in the financial year (FY) 2018-19 as consumption remains robust and investment growth continues, whereas Bangladesh is expected to slow to seven per cent as economic activity is supported by strong private consumption and infrastructure spending.
Pakistan’s growth is projected to decelerate to 3.7 per cent in FY2018-19, with financial conditions tightening to help counter rising inflation and external vulnerabilities.
Sri Lanka is anticipated to speed up slightly to four per cent in 2019, supported by robust domestic demand and investment boosted by infrastructure projects.
Nepal’s post-earthquake momentum is forecast to moderate, and growth should slow to 5.9 per cent in FY2018-19.
The bank added that India will continue to be the fastest growing major economy in the world in 2019.
Global economic growth is projected to soften from a downwardly revised three per cent in 2018 to 2.9 per cent in 2019 amid rising downside risks to the outlook, the World Bank noted. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging markets have experienced substantial financial market pressures.
Growth among advanced economies is forecast to drop to two per cent this year, the January 2019 Global Economic Prospects says. Slowing external demand, rising borrowing costs, and persistent policy uncertainties are expected to weigh on the outlook for the emerging market and developing economies. Growth for this group is anticipated to hold steady at a weaker-than-expected 4.2 per cent this year.
“At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead”, said World Bank chief executive officer Kristalina Georgieva.
“As economic and financial headwinds intensify for emerging and developing countries, the world’s progress in reducing extreme poverty could be jeopardised. To keep the momentum, countries need to invest in people, foster inclusive growth, and build resilient societies,” he added.
London vacancies up 9 per cent in Q3 2025, with fintech roles already surpassing all of 2024’s recruitment.
AI positions offer salaries 20 per cent higher than non-AI roles, reflecting fierce competition for skilled professionals.
Near-shoring boosts junior roles in Belfast and Glasgow, but London dominates senior, strategic appointments.
Jobs soar
Artificial intelligence and financial technology are driving job growth in London’s financial sector, with vacancies up 9 per cent year-on-year in Q3 2025, according to Morgan McKinley’s latest Employment Monitor.
Mark Astbury, director at Morgan Mckinley , noted that fintech roles have proved particularly resilient, with companies advertising 6,425 positions already exceeding the entirety of 2024’s recruitment activity. Banks, consumer finance organisations, and ambitious startups are prioritising senior and strategic appointments, particularly in AI strategy, corporate finance, and technology leadership roles.
The rebound represents a marked reversal from Q2 2025, when trade tariff uncertainties prompted hiring freezes. Employers have now resumed delayed recruitment efforts, though the forthcoming UK Autumn Budget in November may yet influence hiring trajectories.
Notably, near-shoring trends are emerging, with regions including Belfast and Glasgow capturing junior-level roles. London, however, retains its stranglehold on high-value, strategic positions. Much now depends on the Autumn Budget and whether it reassures employers or adds further cost pressures that will set the tone for hiring into early 2026.
AI and tech talent
Forbes Advisor research reveals that 79 per cent of UK workers use generative AI at work, while 85 per cent are aware of AI language models like ChatGPT. However, 59 per cent of Brits express concerns about AI, with primary worries including skill loss, job displacement, privacy issues, and autonomous decision-making without human oversight.
The surge underscores London’s position as the United Kingdom’s preeminent hub for technology-driven financial services. Greater London now hosts 1,387 AI-focused enterprises, including heavyweight firms DeepMind and BenevolentAI, making the capital an irresistible draw for major financial institutions, fintech pioneers, and specialist tech firms seeking talent.
The labour market shift reflects wider structural changes within financial services. Automation is dampening demand for graduate and administrative roles, while AI-related positions command salaries approximately 20 per cent higher than comparable non-AI posts a premium reflecting intense competition for skilled professionals.
Investment underpins this expansion. The Government has committed £2.3 billion to AI initiatives since 2014, while companies increasingly deploy generative models and computer vision technologies to streamline operations, strengthen compliance, and innovate service delivery.
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