DDIndia Business: Economic Headlines & Updates

Business

December 15, 2023 4:56 PM

Sensex soars to new heights as bullish momentum continues, Nifty follows suit on rate cut expectations

India's benchmark indices surged to unprecedented levels on Friday, buoyed by expectations of an interest rate cut by the U.S. Federal Reserve by March 2024. The Nifty 50 witnessed a 1.29% rise, closing at 21,456.65, while the Sensex gained 1.37%, to...

December 14, 2023 11:43 AM

Sensex, Nifty hit record highs amidst optimism on potential Fed rate Cut

India's benchmark indexes surged to record highs on Thursday, mirroring a global rally that reverberated in regional markets. This surge followed the U.S. Federal Reserve's indication of nearing the end of its tightening cycle, fostering expectations...

December 14, 2023 10:10 AM

U.S. Federal Reserve leaves interest rates unchanged, signals cuts in 2024

The Federal Reserve left interest rates unchanged on Wednesday and U.S. central bank chief Jerome Powell said the historic tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrow...

December 13, 2023 1:44 PM

IMF approves $689m loan for Bangladesh with advice to contain inflation

The International Monetary Fund (IMF) has approved the release of $689 million in the second tranche of the $4.7 billion loan package allocated for Bangladesh. The Washington-based lender has advised Bangladesh to continue to focus on containing infl...

December 13, 2023 1:08 PM

Argentina set to devalue peso by more than 50% to help nation’s struggling economy

Argentina is set to devalue the peso by more than 50% as part of emergency measures to help the nation's struggling economy, the country's Economy Minister Luis Caputo announced on Tuesday. The move changes the dollar conversion rate to 800 pesos pe...

December 8, 2023 11:40 AM

RBI keeps repo rate unchanged at 6.5%

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) announced on Friday its decision to keep the repo rate unchanged at 6.50% after a three-day deliberation. "The standing deposit facility rate remains at 6.25%, and the marginal standi...

December 7, 2023 3:34 PM

PM Narendra Modi to address the second edition of fintech event Infinity Forum 2.0

Prime Minister Narendra Modi is scheduled to address the second edition of the financial technology event, Infinity Forum 2.0, on Saturday, as announced by the finance ministry. The event, hosted by the International Financial Services Centres Author...

December 7, 2023 3:04 PM

PM Modi to inaugurate ‘Uttarakhand Global Investors Summit 2023’ in Dehradun on Friday

Prime Minister Narendra Modi is scheduled to visit Dehradun on Friday to inaugurate the 'Uttarakhand Global Investors Summit 2023' at the Forest Research Institute. During the event, the PM will address a gathering, marking a significant step in posi...

December 6, 2023 10:36 AM

India will become world’s third-largest economy by 2030: S&P

Global rating agency S&P Global Ratings has said that India will become the world's third-largest economy by the year 2030. The rating agency has also estimated the country's gross domestic product (GDP) growth rate to reach seven percent in the ...

December 4, 2023 12:15 PM

Sensex, Nifty hit record highs following BJP’s election victory

The BSE Sensex and Nifty reached unprecedented highs on Monday, propelled by the financial and energy sectors, as state election results injected fresh vigour into the market. This surge was fuelled by robust macroeconomic data and the easing of glob...