Economy Financial News

Stocks are falling after the latest hotter-than-forecast reading on the economy raised more worries about inflation and interest rates staying high

Europe’s economy perked up slightly at the start of the year, recording 0.3% growth in the January-March quarter as the inflation burden on consumers eased and the stagnating German economy, the continent’s biggest, started to show modest signs of life

Iran’s official IRNA news agency reported that a tycoon's death sentence has been commuted to 20 years in prison after he returned around $2.1 billion in assets from illegally selling oil abroad

private equity firm ChrysCapital has raised $700 million in new funds, allowing the firm to maintain its stake in India's National Stock Exchange (NSE) by buying itself out, the firm said Tuesday. ChrysCapital, one of India's biggest private equity firms with more than $4 billion invested, raised the money mainly from U.S investor HarbourVest and European funds Pantheon Ventures and LGT Capital Partners.

Mumbai, the country’s biggest and most expensive real estate market, has continued its record-setting spree by scaling yet another peak by recording best-ever April in terms of stamp duty collection. The stamp duty collection has recorded 16% on-year increase at Rs 1,047 crore, while the country’s commercial capital has witnessed registrations of over 11,475 property deals during the month, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. The registrations rose over 9% from a year ago making it the second highest performance for April.

An ancient Chinese proverb that counsels “do nothing, and everything will be done" could sum up the Federal Reserve’s latest approach to interest-rate policy. Fed officials will hold their benchmark federal-funds rate steady at its highest level in more than two decades, around 5.3%, at their two-day policy meeting that begins Tuesday. Firmer-than-anticipated inflation in the first three months of the year has likely postponed rate cuts for the foreseeable future.

CAZ Investments Chief Investment Officer Christopher Zook weighs in on the Fed's handling of the economy as rate cut expectations plummet, Japan's Yen and tech earnings.

A new nuclear reactor reached commercial operation in Georgia on Monday, completing a project whose delays and sticker shock helped upend the near-term prospects for nuclear power in the U.S. The first two reactors at Plant Vogtle, operated by Southern Co., opened in the 1980s. Adding two new reactors cost more than $30 billion, more than twice the initial estimates, and are a major reason no other large nuclear-power facilities are under development in the U.S.

International news in India at the beginning of 2024 was dominated by a publicized phase of diplomatic tension between India and the Maldives following Prime Minister Narendra Modi’s visit to the Union territory of Lakshadweep. This was followed by an order by the government of Maldives asking Indian troops to leave the archipelago nation. However, this wasn’t the first time the relationship between the Maldives and India has been disturbed.

HONG KONG—Some U.S. consumer brands in China are struggling with tepid consumer demand and a trend toward nationalist buying. McDonald’s is leaning in.

Pakistan to stave off a sovereign default, particularly as the existing arrangement is set to expire this month. Following discussions in Washington, the IMF Executive Board approved Pakistan's request for the release of funds. Insiders suggest that Pakistan can expect to receive the loan disbursement promptly, likely as soon as tomorrow (Tuesday), following the IMF's authorisation, as reported by ARY News.

Older Americans are fueling a sustained boost to the U.S. economy

Stocks ticked higher to begin a week packed with potentially market-moving news

The second of two new nuclear reactors in Georgia has entered commercial operation

The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1

The Reserve Bank of India’s (RBI) working paper, Equity Markets and Monetary Policy Surprises, March 2024, is yet another attempt to make sense of the unfathomable ways of equity markets. This time, from the perspective of monetary policy; in particular, market expectations of the future path of policy and the impact of central bank communication and surprises on markets. Over the years, economists, financial wizards and others have tried to explain why stock markets behave the way they do.

India to over $4 billion in the current financial year ending June from $1.3 billion two years ago, its regional vice president for Asia and the Pacific Riccardo Puliti told ET. He said climate finance would occupy an even greater focus in the financial institution's future investment in the country. IFC is the World Bank's lending arm focussed exclusively on private sector in developing countries. «Nearly 41% of IFC's total investment this year is related to climate finance; 41% is already very high and will go higher because the whole Indian economy is moving in that direction,» Puliti highlighted.

UGC announced that students with 4-year undergrad degrees and 75% aggregate marks or equivalent grades can now sit for the National Eligibility Test (NET) to qualify for a PhD programme. Earlier, NET candidates were required to hold a master's degree with a minimum of 55% marks. Two reasons have been cited for this change: the new system will simplify the process for students and open many research opportunities.

Indian economy's recent performance has been strong, with promising signs for the future, according to the National Council of Applied Economic Research (NCAER). In its April 2024 Monthly Economic Review (MER), the NCAER highlighted several key indicators showing the economy's resilience. The Purchasing Managers' Index (PMI) for manufacturing, for example, reached a 16-year high, indicating robust growth. Additionally, the Unified Payments Interface (UPI), a leading digital payments system, recorded its highest volume of transactions since its inception in 2016. Goods and Services Tax (GST) collections also saw a significant increase, reaching Rs 1.8 lakh crore in March, the second-highest since its introduction in 2017. Similarly, UPI transactions in March 2024 totaled 13.4 billion, marking a substantial 55.3% year-on-year growth. The NCAER report also highlighted positive global economic forecasts by the International Monetary Fund (IMF) and the World Trade Organization (WTO), which are expected to benefit the Indian economy in the current year.

QI Research CEO and chief strategist Danielle DiMartino Booth discusses whether stubbornly high inflation data will delay Fed rate cuts on «Making Money.»

Pakistan’s plans for a central bank digital currency (CBDC) gained fresh momentum on Sunday, with finance minister Muhammad Aurangzeb raising the debate again.