Economy Financial News

There is a lot of uncertainty for the average Canadian these days, including trying to navigate a complex macro-economic environment that is already starting to have a material impact on their overall financial well-being.

By Ruchir Sharma

private equity firm Warburg Pincus has fully acquired Shriram Housing Finance Ltd (SHFL) from its promoter Shriram Finance and minority shareholder Valiant Capital Management for Rs 4630 crore, in the largest M&A deal in the housing finance sector.

Money managers are digging in their heels over a popular emerging-market bet in early 2024 even as the trade has unraveled five months into the year. 

In a pivotal cabinet reshuffle following his fifth term as Russia’s President, Vladimir Putin has appointed civilian-economist Andrei Belousov as the new Defence Minister, replacing Sergei Shoigu, who assumes the role of Secretary of the Security Council (NSA). This decision, amidst soaring defence expenditures due to the ongoing conflict with Ukraine, underscores Putin’s strategy to navigate economic challenges while bolstering national defence.

The commercial real estate market in India is projected to reach USD 106.05 billion by 2029 from USD 40 billion in 2024, with a compound annual growth rate (CAGR) of 21.10% during the forecast period (2024- 2029), according to a report by Mordor Intelligence.

Also Read: Can Indian stock market crash further before Lok Sabha election result? Users of social network forum Reddit contemplated on the question whether the stock market will slide down if the INDI alliance comes to power. Most of the users anticipate a knee-jerk reaction if BJP loses power, but they expect the market to continue to grow in the long-term, regardless of the party in power. “It doesn't matter which party is in power.

The Labor Department releases producer price data for April on Tuesday, and its April report on consumer prices on Wednesday

News about growth comes despite elevated borrowing costs. According to a monetary policy report published on Thursday (9 May), the BoE is set to slowly cut rates from 5.25% to 3.75% by the end of Q2 2027.  The latest BoE projections expect GDP to expand by 0.9% in Q2 2025, 1.2% in Q2 2026, and 1.6% in 2027.  Last Wednesday (8 May), the Monetary Policy Committee voted by a majority of 7-2 to keep interest rates unchanged at 5.25%. UK growth 'outpaces' US and eurozone for first time in three years as economy grows 0.6% in Q1 However, interest rate forecasts continue to remain elev...

₹176 ($2.1) per day, last updated in 2017, is one of the lowest in the Asia-Pacific region, surpassed by China’s $11.9, Vietnam $6.5 and even Bangladesh’s $3.7. Brazil’s minimum wage of $47 per day is closer to the figure in developed economies like Australia ($14.8 per hour), the UK ($14.1) and the US ($7.2). While India’s minimum wage remains unchanged, the government routinely updates its dearness allowance (DA) for central government employees.

Mint’s Plain Facts section brings out an update on key global economic data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. This time, we explain how monetary policies have diverged around the world and why the debt situation has become a reminder of the Napoleonic Wars.

Also Read: Stock market crash: Why is Indian stock market down today? — explained with 5 major reasons In its monthly outlook report, the UBS analyst remains upbeat on India’s economic outlook, supported by better-than-expected momentum in domestic economic activities. However, geopolitical uncertainty could pose downside risks. Let us take a look at UBS outlook on Indian stock market, economy, fixed income securities and currency.

The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year

Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world's biggest economy. Brent crude futures slid 26 cents, or 0.3%, to $82.53 a barrel by 0025 GMT while U.S. West Texas Intermediate crude futures was at $78.03 a barrel, down 23 cents, or 0.3%.

Asian share markets made a cautious start on Monday in a week where inflation figures could make or break hopes for earlier U.S. rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world's No. 2 economy. Beijing has already reported a welcome pickup in inflation to an annual 0.3% in April, helping to soothe worries about a slide into prolonged deflation. Forecasts favour further gains in April retail sales and industrial output due on Friday.

market around the expected margin of victory. It is too early to say but looking at previous elections the patterns look somewhat similar, namely, high expectations in the beginning, some nervousness during and a positive end. At the end of the day the market is still expecting the incumbent government to win and secure policy stability/continuity.

Albert Park said, citing the successful experience of other developed economies. India should also commit to remain an open economy and review import tariffs that may be making inputs costlier for sectors where it has an advantage, Park said on the sidelines of ADB’s annual meeting in Tbilisi last week. Park said that if ADB were to do an economic diagnosis of the country, education would be among the priority areas where it should really improve the quality since becoming a middle-income country means moving up the technology ladder.

monsoon season that begins in June. "A transition from El Niño to ENSO-neutral is likely in the next month. La Niña may develop in June-August (49% chance) or July-September (69% chance)," NOAA said.

factor market reforms like land and labour to propel India's growth to a double-digit trajectory, ADB Chief Economist Albert Park has said. «There are still concerns that the basic factor markets like land and labour in the formal sector of unemployment in India are still small. So, you really want to formalise those,» he told PTI in an interview. The factor market reforms include land, labour, energy, and access to credit, among others, which are critical factors for production. Labour reforms have been approved by Parliament in 2020, but it has not been implemented. In 2019 and 2020, 29 central labour laws were amalgamated, rationalised and simplified into four labour codes — the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health & Working Conditions Code, 2020.

high growth though geopolitical uncertainties and tepid consumption remain a concern, say economists. CII's business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement in private capex in the first half of FY25 compared with the second half of FY24. Private investment proposals sanctioned by banks rose by nearly Rs 1 lakh crore to Rs 3 lakh crore in the last year alone, according to India Ratings and Research (Ind-Ra).

market capitalisation of listed PSUs coincides with GoI's efforts to revive the economy post-Covid through capex. For most of the decade leading up to the pandemic, PSUs were losing valuation, relative to their earnings, as investors chased fancier private companies. Two things changed after Covid.