Economy Financial News

Chetan Ahya, Chief Asia Economist, Morgan Stanley, says it looks like the urban economy or the urban consumption which had led the initial recovery, is the one which is slowing. We are looking at the auto sales data on a daily basis from the government sources and it is indicating that there has been an improvement in the last few days in terms of auto sales. But urban consumption is the one which has raised some concern because there has been a broad-based slowdown. While there has been a slowdown over the past few months, all eyes are now on what the festive season could potentially bring. Could we see some sort of a shift or a pickup? Chetan Ahya: Yes, that is right. We are expecting things to improve over the next few weeks. The main reason why growth was slowing was the government expenditure slowdown and then parallelly we had the excess rainfall in August and at the same time there were some shifts in the calendar effects, particularly the festival and inauspicious time period.

Subscribe to enjoy similar stories. Last week, Hyundai Motor India raised close to ₹28,000 crore through its initial public offering (IPO). Data from Prime Database suggests that as of 17 October, 42 IPOs had raised more than ₹78,000 crore during 2024-25.

Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. The dollar's strength, boosted by rising Treasury yields, kept the pressure on the yen, euro and sterling — a theme that has been building over the past few weeks as data showed the U.S. economy remained in a good place, resulting in traders scaling back their bets of large and rapid rate cuts from the Fed.

Federal Reserve Bank President Mary Daly on Monday said she has not seen anything to suggest the U.S. central bank would stop cutting interest rates, which are «absolutely» still high enough that they are restraining the economy. Daly, in a webcast interview with the Wall Street Journal, added that the goal is a "soft landing" where inflation cools to 2%, the labor market stays healthy, and wages catch up with higher prices.

Subscribe to enjoy similar stories. When German President Frank-Walter Steinmeier awarded Joe Biden the Grand Cross special class of the German Order of Merit in Bellevue Palace here last week, it was a moment of vindication for the beleaguered American president. The only other American so honored was George H.W.

Voters remain largely divided over whether they prefer Republican Donald Trump or Democrat Kamala Harris to handle key economic issues, although Harris earns slightly better marks on elements such as taxes for the middle class

Nirmala Sitharaman on Monday pitched the India story to a large group of pension funds and institutional investors in the US and impressed on them to take advantage of India's enormous investment opportunities. Sitharaman addressed a roundtable on “Investment Opportunities in India” at the New York Stock Exchange (NYSE), the world’s oldest and largest bourse with around 11 Indian companies listed on it, according to a finance ministry post on X (formerly Twitter). “The roundtable is being attended by various pension funds and other institutional investors and fund managers across USA, forming one of the largest financial systems in the world in terms of total assets under management,” the ministry said in the post.

BRICS Summit will take place in Kazan, Russia on 22nd-24th October, 2024. The Theme of the Meeting is «Strengthening Multilateralism for Just Global Development and Security”. The main objectives of the 2024 BRICS Summit are to promote cooperation and partnership in politics and security, economy and finance, and cultural and humanitarian ties.

Indian diaspora appear extremely bullish on the Indian economy as aggregate inflows to NRI deposits more than doubled. Inflows into NRI deposit schemes amounted to $7.8 billion in April-August this year to compared to inflows worth $ 3.7 billion in the same period a year ago, the latest data released in the Reserve Bank of India’s latest monthly bulletin. Both dollar (FCBR(B)) and rupee deposits (NRE(RA)) surged reflecting higher returns in the Indian markets as also the strong fundamentals.

After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday.

Germany is focusing on attracting skilled workers from India, following new migration measures recently approved by Chancellor Olaf Scholz’s Cabinet. The move aims to streamline immigration processes and support the integration of Indian workers, addressing the critical workforce gaps caused by an ageing population. Germany, known for having the strongest economy in the European Union, faces increasing pressure to secure skilled labour to maintain economic momentum. Hubertus Heil, the German Labour Minister, emphasized India’s importance, saying, «Germany views India as an especially important partner when it comes to the issue of skilled labour migration.» The newly approved migration framework underscores the deepening economic relationship between Germany and India. With a focus on long-term economic sustainability, the German government aims to attract qualified Indian professionals across various sectors to address workforce gaps.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

National Payments Corporation of India (NPCI), UPI is an instant real-time payment system for facilitating inter-bank transactions through mobile phones. Muizzu on Sunday set up a consortium to introduce UPI in the country and appointed TradeNet Maldives Corporation Limited as its leading agency, according to a press release by the President's Office. The president also suggested the participation of the country's banks, telecom companies, state-owned companies and fintech companies in the consortium.

Asian shares are mostly higher after U.S. stocks rose to records to close out their latest winning week

On top of the grievous toll in human life and misery, Israel’s war against the Hamas and Hezbollah militant groups has been expensive

Immigrants, as well as those who work closely with them, say both sides’ efforts to crack down on the border have clouded the larger immigration issue in ways often too nuanced to break down cleanly along ideological lines

The ranch in remote eastern Nevada produces around 10,000 tons of hay annually, and combines cowboy culture with a dash of Manifest Destiny. Rabbits, gophers and the occasional badger always outnumber humans and the nighttime sky is dark enough to count the stars. But the Bakers' business couldn't survive without an agricultural guest worker program that brings in Mexican immigrants for about nine months a year to help harvest crops in fields where temperatures frequently exceed 100 degrees Fahrenheit (37.8 Celsius).

Subscribe to enjoy similar stories. Regulators, especially financial sector regulators, need to bare their teeth from time to time.

Two weeks ahead of a potentially era-defining US election, and with the world’s recent inflation crisis barely behind it, ministers and central bankers gathering in the nation’s capital face intensifying calls to get their fiscal houses in order while they still can.

Indonesian President Prabowo Subianto has announced his Cabinet hours after he was inaugurated

Subscribe to enjoy similar stories. New Delhi: Facing a workforce shortage, Germany is planning to substantially increase the number of skilled labour visas it grants for Indians to 90,000 every year, from the current cap of 20,000, said ambassador Philipp Ackermann. With a worker shortage worsening Germany’s economy, these visas will be used to fill gaps in sectors such as information technology, nursing and caregiving, Ackermann said in an interview.