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Economy

December 1, 2023 6:43 PM

Brokerages raise India’s economic growth forecast after upbeat Q2

India remains the fastest-growing major economy in the July-September 2023 quarter as well. The growth drivers of India’s Quarter 2 GDP growth are a strong industry push induced by private consumption and investment, steady performance of the agric...

December 1, 2023 1:17 PM

India’s GDP expected to grow by 6.5 % in FY24: Finance Ministry

Hours after the Union Finance Ministry stated that the Indian economy grew 7.6 percent during the July-September quarter of the current financial year 2023-24, it said that India's GDP is expected to grow by 6.5 percent in the financial year 2024. ...

December 1, 2023 9:31 AM

COP28 Summit: Conflict-hit countries left to face climate change alone

BEIRUT. Somali aid worker Hasan Mohammad Sirat has almost no tools at his disposal to tackle the devastating effects of extreme weather in his war-torn country, where floods this year have followed hard on the heels of a severe drought. "We are tryi...

November 30, 2023 12:09 PM

US economy grows 5.2% in third quarter; higher interest rates eroding momentum

The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending. The growth...

November 30, 2023 12:08 PM

China’s factories fall deeper into contraction, more policy support expected

China's manufacturing activity shrank for a second straight month in November and at a quicker pace, suggesting more stimulus will be needed to shore up economic growth and restore confidence that the authorities can ably support industry. Economist...

November 30, 2023 11:17 AM

Global growth to slow but avoid a hard landing -OECD

The global economy will slow slightly next year but the risk of a hard landing has subsided despite high levels of debt and uncertainty over interest rates, the Organisation for Economic Cooperation and Development said on Wednesday. Global grow...

November 29, 2023 10:45 AM

Berkshire Hathaway vice chairman & legendary investment Guru Charlie Munger dies at 99

Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway, died at a California hospital. Munger was 99, and would have turned 100 on January 1. He died peacefully, Berkshire said. No cause has been give...

November 28, 2023 9:23 AM

Finance Minister Sitharaman urges action on Climate Funding & Technology Transfer at India Global Forum Dubai

In a virtual session at the inaugural India Global Forum Middle East and Africa 2023 (IGF ME&A), India's Finance Minister, Nirmala Sitharaman, demanded tangible action on climate funding and technology transfer ahead of COP28. The event, themed '...

November 23, 2023 3:35 PM

India’s Stellar Rise in the Global Space Economy

In the expansive realm of the global space economy, India has emerged as a significant contender. Though it presently holds a market share of just 2%, recent advancements and ambitious projections signal a rapid ascent for the India's space sector. ...

November 17, 2023 10:16 AM

RBI strengthens norms for consumer loans

The Reserve Bank of India (RBI) has taken a decisive step to tighten norms governing unsecured personal loans for both banks and non-banking financial companies (NBFCs). This move comes as a response to the escalating risk associated with consumer cr...

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