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Australian mining giant BHP Group has pledged to invest in South Africa's economy as it seeks support for a 38.6 billion pound ($49.3 billion) bid to acquire Anglo American, which was founded in the country more than a century ago and remains one of it...

The International Monetary Fund has upgraded its forecast for China's economy, while warning that reforms are needed to sustain growth

Finance Minister Nirmala Sitharaman on Wednesday said the revision in India's rating outlook to positive by S&P reflects solid growth performance and promising outlook for the coming years. India is well on track to become the third-largest economy in the third term of the government and become a Viksit Bharat by 2047, Sitharaman said in a post on X. Earlier in the day, S&P Global Ratings upgraded India's outlook to positive, from stable. This is the first time that S&P has assigned a positive outlook on India's rating. S&P retained India's rating at lowest investment grade of 'BBB-'.

A Goldman Sachs executive and finance industry veteran will take over as the new president of the Cleveland Federal Reserve.

Stocks fell and bonds retreated, tracking a drop in US Treasuries overnight after weak debt auctions and hawkish remarks from a Federal Reserve speaker. 

Read | S&P Global revises Indian economy outlook to positiveAs of 31 December 2023, ADB had committed 623 public sector loans, grants, and technical assistance totalling $55.3 billion to India, with its current sovereign portfolio in India including 67 loans worth $14.15 billion.Some of the other MDBs, which have backed key projects in India, include the World Bank Group, the International Monetary Fund (IMF), the International Fund for Agricultural Development (IFAD), and the Global Environment Facility (GEF).Interestingly, MDBs have been urged to make more finance available to emerging and developing economies (EDEs) for meeting development needs, mitigating climate risks and insulating from global shocks.Under the Indian presidency of the G20 in 2023, an expert committee headed by economists N.K.

Even with record low fertility and birth rates, Canada is undergoing a nearly unprecedented population boom — well in excess of three per cent annualized growth. The reason is clear: an unrivalled immigration surge that hit an inflow of almost 1.3 million people from other countries around the world in 2023. Without this, the civilian population would be in decline.

Avaada Group's arm Avaada Energy on Wednesday said it has secured Rs 315 crore financing from Aseem Infrastructure Finance for a captive solar project in Karnataka. Aseem Infrastructure Finance Ltd (AIFL) is an IFC (Infrastructure Finance Company) established with the aim of playing a transformative role in the growth of Indian infrastructure debt financing, according to a company statement. Avaada Energy, a leading player in the renewable energy sector, has secured financing for its solar PV power project, which is being developed under a long-term captive Power Purchase Agreement (PPA) with the Karnataka Cooperative Milk Producers' Federation Ltd (KMF), the statement said. The project is located in the Kalaburagi district of Karnataka. KMF, the apex body for the dairy cooperative movement in Karnataka, is rated A+ (Stable) by ICRA.

Rating firm S&P on Wednesday revised outlook for the Indian economy to 'positive' from 'stable' and has affirmed the overall rating at 'BBB-'. 'BBB-' is the lowest investment grade rating offered. «India's robust economy growth positive impacts credit metrics,» S&P said. «The government's infrastructure spend will aid India's growth trajectory. We expect a continuity in India reforms regardless of poll outcome,» S&P said.

Prime Minister Narendra Modi — their preferred and expected outcome of the ongoing general election — and soaring corporate profits. They might be ignoring an all-too-important speed bump: consumer debt. A trifecta of slow wage growth, elevated interest rates, and heavy borrowing by the average household has weakened the spending impulse of more than 300 million families that drives 70% of gross domestic product. Equity markets aren’t too perturbed. Investors are betting on a post-election boom in private capital expenditure on the back of $534 billion in new infrastructure expected by Bloomberg Economics to come online by 2026, boosting India Inc.’s competitiveness and lifting the economy’s growth potential. More confident companies will also create better-paying jobs. Sooner or later, interest rates will start to decline, both at home and globally. Households’ financial crunch will ease. Bond investors’ thinking is not too dissimilar: Unlike his opponents, the prime minister isn’t promising a dramatic expansion of the welfare state. (According to him, he has already spent $400 billion on cash handouts and free food for the poor in the past 10 years.) Modi will instead borrow to expand productive capacity. A cautious fiscal stance and expectations of a stable currency make India’s rupee-denominated government notes attractive. Borrowing dollars to buy Asian bonds has been unprofitable almost everywhere this year. India has been a notable exception.

In the 1970s, President Jimmy Carter placed solar panels on the roof of the White House as a symbol of his commitment to developing energy from the sun. In the 1990s, Japan offered homeowners groundbreaking subsidies to install photovoltaic panels. And in the 2000s, Germany developed an innovative program that guaranteed consumers who adopted a solar energy system that they would sell their electricity at a profit. But no country has come close to matching the scale and tenacity of China's support. The proof is in the production: In 2022, Beijing accounted for 85% of all clean-energy manufacturing investment in the world, according to the International Energy Agency.

Indian stocks, the total assets under management (AUM) of state-owned insurance behemoth LIC has now crossed the Rs 50 lakh crore mark to nearly double the size of neighbouring Pakistan's GDP. Latest data shows that Life Insurance Corporation of India's AUM has increased by 16.48% year-on-year (YoY) to Rs 51,21,887 crore ($616 billion) as of March-end compared with Rs 43,97,205 crore at the end of the previous FY23.

inflation.As we know, India is an agricultural economy. The country has a unique competitive advantage with the largest arable land area and is the second-largest wheat and rice producer. Most farmers still depend on the monsoon rain to cultivate food.

International Monetary Fund now expects China’s economy to grow 5% this year, raising its forecast from 4.6% earlier this year to reflect a strong expansion at the start of 2024 and additional support from the government. The Fund expects the momentum to continue, raising its gross domestic product forecast for next year to 4.5% from 4.1%, according to a press release published Wednesday.

BEIJING — The International Monetary Fund on Wednesday raised its forecast for China's growth this year to 5%, from 4.6% previously, due to «strong» first quarter figures and recent policy measures.

Investors are increasingly allocating more money to thematic funds, a category with 161 schemes having assets under management of Rs 3.06 lakh crore as of April. WHAT ARE THEMATIC FUNDS? Thematic funds are a category of equity funds which invest at least 80% of total assets in stocks of a particular theme. Some popular themes launched by fund houses in the last few years are public sector undertakings (PSU), infrastructure, MNC, business cycle, and manufacturing funds. For example, a PSU fund has a portfolio of PSU stocks like NTPC, Power Grid, SBI, HPCL, Hindustan Aeronautics, Bharat Electronics etc. A manufacturing fund will own companies in sectors like capital goods, engineering, cement, materials etc and exclude sectors like IT and core banking.

A report by the United Nations says that as economies in Asia and the Pacific slow and grow older, countries need to do more to ensure that workers get the education, training and social safety nets needed to raise incomes and ensure social equity

A new bill introduced in the Senate could pave the way for more employees at small businesses across the country to get workplace retirement benefits.

LSEG director of consumer research Jharonne Martis analyzes the health of the consumer and explains what's behind the shift in spending on «Making Money.»

Melinda French Gates says she will be donating $1 billion over the next two years to individuals and organisations working on behalf of women and families globally, including on reproductive rights in the US. French Gates earlier this month announced she would step down from the women and families. French Gates, one of the biggest philanthropic supporters of gender equity in the US, said Tuesday in a guest essay for The New York Times that she's been frustrated over the years by people who say it's not the right time to talk about gender equality. «Decades of research on economics, well-being and governance make it clear that investing in women and girls benefits everyone,» she wrote.

New Delhi: India and Vietnam are gaining the most from the China plus one strategy, which is also expected to unlock new growth opportunities for Asian economies, according to Nomura. India's exports will likely surge to $835 billion by 2030 from $431 billion in 2023 with its large domestic market helping attract firms looking for supply chain alternatives to China, Nomura said in a report on Tuesday. «Firms in electronics, apparel & toys, automobile & components, capital goods and semiconductor manufacturing are looking to invest in India. Given India's large domestic consumer market, firms setting up shop in India are attracted also because of the captive domestic market,» Nomura said, predicting a 10% annual growth over the period.