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Economy

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...

November 15, 2023 4:55 PM

IMF head expects agreement with Pakistan this week on funding review

The International Monetary Fund (IMF) expects an agreement with Pakistan this week on targets for the first review of a $3 billion bailout, IMF Managing Director Kristalina Georgieva said on Wednesday, clearing the way for additional funding. "I exp...

November 15, 2023 9:48 AM

Japan’s economy contracts as recession risks grow

Japan's economy contracted in July-September, snapping two straight quarters of expansion on soft consumption and exports, complicating the central bank's efforts to gradually phase out its massive monetary stimulus amid rising inflation. Gross dome...

November 13, 2023 2:56 PM

APEC’s growth to slow as persistent inflation, US-China tensions weigh- Report

Economic growth among Asia Pacific Economic Cooperation countries is expected to decline next year and remain below the global average as higher interest rates slow U.S. growth, as China continues to struggle with its recovery and tensions between th...

November 9, 2023 3:56 PM

India’s growth outlook soars: Fitch raises medium-term forecast to 6.2%, Morgan Stanley shares optimism

In an upward revision, Fitch Ratings has increased India's medium-term potential growth forecast from 5.5 per cent to a robust 6.2 per cent. These positive changes were underpinned by a more favourable outlook for the capital-to-labour ratio. This p...

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