Economy Financial News

Stocks in Asia are mostly higher, boosted by moves by China to rev up its economy

Northvolt AB was supposed to power Europe’s response to the likes of Tesla Inc. and China’s fast-growing electric vehicle makers. Instead, the Swedish battery company is fighting to stay afloat. As it faces a crushing liquidity crunch, the company’s creditors will meet Friday to decide on freeing up funds critical to its survival. On Thursday, Harald Mix, Northvolt’s founder and owner of a 7.2% stake, said he plans to provide new capital to the company, pointing to the “important role” it plays in European competitiveness. Burning cash as it struggles to deliver the batteries it promised customers, Northvolt this week said it’s shedding a fifth of its global staff and suspending the expansion of its main factory in northern Sweden. With Europe’s battery boom turning to bust, more pain may be in the offing.

dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. Data on Thursday suggested the U.S. labour market remained fairly healthy, while other reports showed corporate profits increased at a more robust pace than initially thought in the second quarter, highlighting an upbeat economic outlook.

«There is some softening globally, but India is performing very well on the macros. The balance sheets are very clean for corporates. Banks have the ability to lend,» says Ajay Bagga, Market Expert. What do you make of the momentum of the market, there is no stopping it at all? Ajay Bagga: Yes, flows are very strong and we see that domestic flows are absorbing. Even the little FII selling that is still coming through, we are seeing that absorption happening.

Subscribe to enjoy similar stories. Can Pakistan break its IMF loan addiction? On Wednesday, the board of the International Monetary Fund (IMF) approved an “extended fund facility" worth $7 billion for the country. This would be its 24th bailout since 1958.

Subscribe to enjoy similar stories. MUMBAI : Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. A large number of traders lost their money in India’s futures & options (F&O) market, showed an analysis by the Securities and Exchange Board of India (Sebi).

China is redoubling its first-aid for the economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People's Republic

Donald Trump needs to focus on some of the key American issues in recent times, and promise the nation that he will work on them after coming to power. Only then can the former US President be elected to the White House by Americans, who are this time, searching for the candidate who will take forward the true vision of America. US elections: The new MAGA goal should be focusing on pressing issues United States is plagued with a number of crisis at this point, and one which tops it all off is the impending recession and its effect on the US economy. The stock markets and jobs data have already started reacting to recession fears, and even though inflation levels are falling to the normal baseline, recession fears is being driven up by majority of other factors including increasing unemployment rates. The US Fed Reserve went as far as introducing a whopping 50 bps rate cut but that could stop the bleeding for now, and if Trump really comes to power, he has to immediately begin planning necessary remedies to counter the root causes of an incoming recession.

Economic Survey a readable government literature, had teasingly proposed in 2016 that a chunk of RBI capital could be freed up to recapitalise banks. Shortly after he left as CEA in 2018, Subramanian buttressed the concept in Economic & Political Weekly. Most brushed it off as musings by a non-conformist economist who had differences with colleagues and peers. But few sensed it was a harbinger of a plan to use the central bank's excess capital: backed by a panel report, it paved the way for RBI to give generous dividends to GoI. Almost a decade later, another CEA has sparked a debate on another esoteric issue rooted in the political economy. After this year's Survey (prepared under CEA's guidance) questioned the efficacy of India's inflation-targeting framework — under which RBI aims at 4% inflation with a tolerance band of ±2% — present CEA V Anantha Nageswaran, in an article, dwelled on how powerless RBI is in influencing 'headline inflation', which factors in changes in food and fuel prices over which it has no control.

Kamala Harris is leading over former US president Donald Trump by 7 points, which is reflecting that Democratic nominee Kamala Harris is gaining support as she is preparing for the US presidential elections in 2024.

Sun Belt battleground states, per a New York Times poll. According to a new poll by the New York Times and Siena College, former president Donald Trump leads Vice President Kamala Harris in three crucial battleground states: Arizona, North Carolina, and Georgia. The survey, which was conducted from September 17 to 21, was conducted among 713 voters in Arizona, 682 voters in Georgia, and 682 voters in North Carolina. It was released on Monday. The margin of error for each state ranges from four to five percentage points. Concerns regarding the economy, immigration, abortion, and the nation's overall direction were voiced by voters in each of the three states. Also Read: Did Taylor Swift's boyfriend Travis Kelce jet-set and party all offseason? His teammates defend him

UPI should be charged or be conducted, as it has been since 2020, without a merchant discount rate (MDR) to boost digital transactions. Either way, technology adoption is at the fulcrum of the growth of digital financial services (DFS). With UPI at the forefront, NPCI has formed strategic partnerships with several countries to enable digital payments and facilitate cross-border transactions. These collaborations not only provide Indian expats with a familiar way to pay but also enhance financial inclusion, while improving cost- and time-efficiency of digital payments in these regions. By establishing UPI-based payment corridors with banks in West Asian and African countries, these initiatives are building a secure and reliable digital payment infrastructure that supports economic development. As instant payments grow, its influence on the economic landscape of these regions becomes increasingly evident. In India alone, DFS has played a critical role in expanding the digital economy 2.4 times more rapidly than the overall economy.

Appaloosa Management's David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility.

NYSE President Lynn Martin discusses whether Trump or Harris economic plan is better for markets on Cavuto: Coast to Coast.

₹130 crore, which were developed domestically as part of the National Supercomputing Mission. These advanced systems have been deployed in Pune, Delhi, and Kolkata to support cutting-edge scientific research.During the launch event, Prime Minister Modi stated, "This is a significant day for India in the realms of science, technology, and research. India is placing a strong emphasis on science and technology.

Subscribe to enjoy similar stories. Mirae Asset Investment Managers entered India at the fag end of 2008, just as the global financial crisis took hold. Between 2008 and 2011, its assets under management (AUM) saw little growth, even as 12 major foreign players, including Standard Chartered, AIG, Fidelity, and Morgan Stanley, exited the market.

World shares have surged following reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and provide other fiscal support for the economy

Raghuram Rajan said on Thursday. In an interview with PTI, Rajan further said the government's focus on production, whether it is goods or services is a good thing, but it is also important to do it the right way. Responding to a question on the Modi government's flagship initiative 'Make in India', he said, «I would say the intention is good. I think in some areas, we have done a lot, as I said, in infrastructure...we have done a lot that has been very useful». The Modi government's flagship initiative 'Make in India' was launched 10 years ago on September 25, 2014.

BEIJING — China aims to stop the property slump, top leaders said Thursday in a readout of a high-level meeting published by state media.

Subscribe to enjoy similar stories. As India’s economy grows, the banking sector faces a pressing question: is the sluggish growth in Current Accounts & Savings Accounts (CASA) and deposits just a temporary dip, or the beginning of a deeper, long-term trend? With the country’s credit demand rising, the slowdown raises red flags for profitability and financial stability. Read this | If deposits are stuttering, how will banks manage the credit boom? Understanding the reasons behind this shift and implementing systemic measures to reverse the trend is crucial for the banking sector’s future.

Subscribe to enjoy similar stories. Two decades of climate policy have delivered shockingly little impact—a negligible reduction in global emissions. A new study paints a bleaker picture: only 4% of policies—63 out of 1,500—made any substantial difference.