Economy Financial News

Laffer Tengler Investments CEO and CIO Nancy Tengler explains why she's recommending investing in equities over bonds for the long term.

A closely watched measure of inflation in Argentina remained stronger than the libertarian government of President Javier Milei would have hoped

NEW DELHI : Prime Minister Narendra Modi on Thursday discussed ways to augment all-round growth with economists ahead of his government’s first post-election budget, two persons close to the discussions said. The discussion was on “ways to accelerate growth and employment across sectors and regions", which covered all the pressing issues facing the economy, said one of the persons on the condition of anonymity. Growth and employment generation top the priority list of the Modi administration as the government faces pressure to create adequate opportunities for the country's large workforce.

Oil prices fell in early trade on Thursday after U.S. employment and business activity data came in weaker than expected, in signs the economy may be cooling in the world's top oil consuming nation. Brent crude futures were down 30 cents, or 0.34%, at $87.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.38%, to $83.56 by 0030 GMT, with activity thinned by the U.S. Fourth of July holiday.

Bolivians have been hit hard by economic turmoil in the small South American nation fueled by a longtime hyper-dependence on, and now shortage of, U.S. dollars

The perfect European, or so the sarcastic quip goes, should drive like a Frenchman, cook like the Dutch, be as organised as the Greeks and as humorous as a German. A variant of the joke might haunt those trying to devise the perfect ally for Ukraine as it fends off Russian aggression. Imagine a country the size of Latvia, with the budget problems of the hard-up Italians, the willingness to pitch in of Kremlin-loving Hungarians and the arms industry of neutral Ireland.

Pakistan has reached an agreement for a new $7 billion loan deal with the International Monetary Fund

According to the community, Mememagic’s upcoming token sale will release 10 billion Mememagic (MMMG) tokens for public sale, aiming to establish an open, decentralized, community-driven economy. The token sale, set to commence on June 27th at 08:00 UTC, has the primary objective of achieving an appropriate price for the MMMG token and showcasing its real-world functionality.

Get on up folks, it’s (political) party time America.

Much of the growth was driven by a maintained uptick in services output, which grew by 0.3% in May, the same as in April. Markets welcome reduced political risk premium on UK assets after Labour win This broad trend was reflected widely in the ONS' report, which showed that real terms GDP increased by 0.9% in the three months to May 2024, compared with the three-month period to February 2024, a result of a growth of 1.1% in services output. The 0.9% figure marks the fastest growth since January 2022. Growth was «stronger than expected» in May, noted Quilter Investors' Lindsay Ja...

India’s technology sector will need more than 1 million engineers with advanced skills in artificial intelligence and other capabilities over the next 2-3 years, an industry body estimates, a demand that won’t be met unless the government significantly beefs up education and training in the country. The sector will need to reskill more than half of its existing workforce to take up jobs in fields such as AI, big data analytics and cyber-security, said Sangeeta Gupta, senior vice president and chief strategy officer at the National Association of Software and Service Companies, based in Bengaluru. New college graduates will only be able to fill a quarter of the advanced tech jobs needed, she said. “Employability of the workforce is a huge challenge and will require a fair amount of work,” Gupta said in an interview Monday. “The industry can’t do with a one-time up-skilling, it has to be a continuous journey amid a fast changing digital landscape.”

When the Bank of Canada made its first interest rate cut last month there were three risks economists cited that could stall the cycle — the Canadian dollar, the housing market and wage growth.

In keeping with the ambitions of the Paris Agreement, the Emerging Markets Climate Transition strategy retains the move toward a low-carbon economy as its raison d'etre. Meanwhile, the Transition Asian Equities fund will funnel money into companies with broader social and environmental objectives. Robeco brings multi-thematic strategy to market The EM strategy is set to be spearheaded by veteran EM fund manager  Jaap van der Hart and Rob Schellekens, current lead portfolio manager of the EM ex-China fund. Head of Asia Pacific equities Joshua Crabb will take the helm of Transition Asia...

Narendra Modi on Thursday said the 'Make in India' initiative can add to engines of global growth and help democratise the global economy, and highlighted the importance of creating multiple, reliable and resilient supply chains. External Affairs Minister S Jaishankar, who is in Astana to attend the SCO Summit, delivered Modi's remarks at the extended format meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State here in the Kazakh capital. Modi said that India has contributed significantly to enhancing the economic agenda of the SCO grouping with institutionalised mechanisms such as the SCO Startup Forum and Special Working Group on Startup and Innovation. With 130,000 startups in India, including 100 unicorns, our experience can be useful to others, a Ministry of External Affairs statement cited the prime minister as saying in his remarks.

North Korean Intelligence is believed to have fled China where he was working on a project. The concerned official is reported to have escaped with $30 million of funds meant for the hermit kingdom’s weapons modernization program. This has been reported by Money Today that this escape took place last month. This is yet another escape by a member of the North Korean government in recent times. China and North Korea share a good relationship and this relationship at times has been described as ‘devious’ due to the former’s support to North Korea to its nuclear program.

Budget 2024 Expectations Live Updates: Prime Minister Narendra Modi is scheduled to meet with distinguished economists on Thursday to gather their perspectives and recommendations for the upcoming fiscal year. This meeting, which will also include Niti Aayog Vice Chairman Suman Bery and other key members, aims to influence the first major economic policy of Modi’s third term.

Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve's last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates. Spot gold was nearly unchanged at $2,329.66 per ounce, as of 0152 GMT. U.S. gold futures gained 0.2% to $2,338.70.

Inflation decelerated again in June, bringing further relief to consumers' wallets.

It is employment-pass renewal season in Singapore and the new regime dominates after-work conversation on Fridays. From September, overseas employees on a work visa will need to fulfil the city-state’s new points-based system, and earn a minimum salary threshold to stay in their jobs. While this mirrors what happens in other countries, it risks turning foreign companies away and could tarnish the nation’s image as a global business hub.

Is India’s unemployment problem being exaggerated? Going by the latest KLEMS data released by India’s central bank—which tracks inputs of capital, labour, energy, materials and services—that may seem to be the case. It shows employment in the country grew 6% in 2023-24, up from 3.2% in 2022-23. In absolute terms, the economy added 46.7 million jobs in 2023-24, compared with 19 million in 2022-23 and 11.9 million in 2021-22.

A corner of Wall Street long shunned by investors is suddenly in demand. Higher rates over the past two years were expected to slam risky corporate borrowers that rely heavily on floating-rate debt. That hasn’t happened.