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Economy

May 2, 2024 12:12 AM

US: Stocks rise after Fed leaves rates unchanged, cites lack of progress in inflation

Wall Street stocks wavered before trending higher on Wednesday as the U.S. Federal Reserve left its key interest rate unchanged, as expected, but indicated that the next move on rates will probably be a cut. The three major U.S. stock indexes were l...

May 1, 2024 4:33 PM

GST collection for April 2024 highest ever at Rs 2.1 lakh crore

Gross Goods and Services Tax (GST) collections surged to a record high of Rs 2.10 lakh crore in the month of April, registering a 12.4 per cent year-on-year growth. The Ministry of Finance attributed the rise in GST collection to a robust uptick in ...

May 1, 2024 11:37 AM

Foreign portfolio investors turn net sellers in Indian stocks in April

Foreign portfolio investors (FPIs) offloaded Indian stocks in April, following two consecutive months of being net buyers. The ongoing geopolitical crisis in the Middle East, coupled with the strength of US bond yields, likely pushed investors to wit...

May 1, 2024 11:31 AM

Binance’s former CEO sentenced to four months prison over money laundering violations

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday (April 30) to four months in prison after pleading guilty to violating U.S. money-laundering laws at the world's largest cryptocurrency exchange. The sentence was impose...

April 30, 2024 5:52 PM

Binance’s CEO Zhao faces sentencing over money laundering violations

The former chief executive of Binance, the world's largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his guilty plea to violating U.S. money-laundering laws. U.S. prosecutors have told District Judge R...

April 30, 2024 1:12 PM

TON takes off on Telegram tie-up

A coin called TON has leapt in value in recent months, with investors betting its integration with messenger service Telegram could bring the cryptocurrency to the app's estimated 900 million users. Telegram endorsed TON in September last yea...

April 30, 2024 12:56 PM

Growth in Asia-Pacific expected to slow in 2024: IMF

Economic growth in the Asia Pacific region is better than previously projected but is expected to slow from 5 per cent in 2023 to 4.5 per cent in 2024, according to IMF's Regional Economic Outlook for Asia and Pacific. In the Outlook report, the Int...

April 30, 2024 12:46 PM

IMF bailout proved important to save Pakistan from default, PM Sharif says

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and...

April 30, 2024 11:01 AM

China’s slow April factory, services activity dents economic momentum

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter. The cooling activity...

April 26, 2024 10:12 AM

China must stop aiding Russia if it seeks good relations with West, NATO says

China must stop supporting Russia's war in Ukraine if it wants to enjoy good relations with the West, NATO Secretary-General Jens Stoltenberg said on Thursday, warning Beijing in unusually harsh words it cannot have it both ways. During a visit to B...

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