Economy Financial News

21.04 / 08:19

markets economy Election wellness trends inclusion Schools Fund Manager Talk: Inflows into small and midcaps ahead of earnings, says Ashish Naik of Axis Mutual Fund

Market flows into smallcaps and midcaps have been ahead of their earnings due to increased investor appetite for these funds, says Ashish Naik, Equity Fund Manager, Axis Mutual Fund. “I would like to mention here that the small caps and midcaps have seen notable earnings upgrades and some of it is already reflected in their valuations,” he says. Edited excerpts from a chat:

21.04 / 08:01

Target economy Election film country stars Congress a vine, sucks dry those who lend support to it: PM Modi

Narendra Modi on Saturday dubbed the Congress a vine that does not have roots or branches but sucks dry those who lend support to it. Addressing a rally in Parbhani in Maharashtra's Marathwada region, Modi said the 2024 Lok Sabha elections are all about making India a developed and self-reliant country. In just 10 years, India has traversed a long road of development, said the BJP's star campaigner. The Parbhani Lok Sabha constituency will go to polls in the second phase on April 26.

21.04 / 07:59

economy Healthcare performer Department shock International No surprise that India's economy growing faster than China, says IMF APAC Director Krishna Srinivasan

IMF's Asia and Pacific (APAC) Department. "China is more than four times bigger than India, and in that sense, if India is growing faster today than China, then it should not be surprising," Srinivasan explained, while speaking with ANI.

21.04 / 07:34

UPS security economy WhatsApp show Department India's net direct tax kitty at Rs 19.58 lakh cr, exceeds revised estimates by Rs 13k cr

direct tax collections surged by 17.7 per cent year-on-year to Rs 19.58 crore in the fiscal year ended March 2024 and exceeded the revised estimates by Rs 13,000 crore, according to the tax department. While gross direct tax collections (provisional) for the FY 2023-24 rose 18.48 per cent to Rs 23.37 lakh crore, net proceeds (after accounting for refunds) surged 17.7 per cent to Rs 19.58 lakh crore, reflecting buoyancy in the economy and rise in income levels of individuals and corporates. Refunds aggregating to Rs 3.79 lakh crore have been issued in FY 2023-24, the CBDT said in a statement.

21.04 / 07:33

UPS ETF CEO economy VanEck Trade International 'Big change' in global growth is bullish for commodities including copper, says VanEck CEO

Investors should consider commodities due to a «big change» involving international expansion, according to VanEck CEO Jan van Eck.

21.04 / 06:56

security economy Election reports 'BJP expected to secure 330-350 seats in Lok Sabha polls 2024': Top economist

'Little room for further gains': Bernstein report as NDA eyes over 400 seats "Based on statistical possibility, they should get 330 to 350 seats on their own. This is just the BJP, not including its alliance partners," Bhalla told NDTV news channel. For the Congress party, the economist said that the party may get 44 seats- 2% less than what it won in the 2014 election.

21.04 / 06:55

UPS economy country reports International Cash-strapped Pakistan makes formal request to IMF for another bailout

Pakistan has made a formal request to IMF for seeking the next bailout package in the range of USD 6 to USD 8 billion with the possibility of augmentation through climate financing, a media report said on Saturday. Cash-strapped Pakistan also requested to dispatch the International Monetary Fund (IMF) review mission next month to firm up details of the next bailout package for three years under the Extended Fund Facility (EFF). However, the exact size and timeframe of the new package will only be determined after evolving consensus on the major contours of the next programme in May 2024, Geo News reported from Washington.

21.04 / 06:14

markets COST economy wellness President War reports Charting the global economy: Fed delay recalibrates all rates

Federal Reserve Chair Jerome Powell signaled US central bankers will wait longer to cut borrowing costs following a series of surprisingly high inflation readings, which reduces room for easier policy around the world. Global finance chiefs convening in Washington for the International Monetary Fund-World Bank spring meetings are sweating the strength of the US economy, as elevated interest rates and a strong dollar force other currencies lower and complicate plans to bring down borrowing costs. Meanwhile, an escalation of the conflict in the Middle East is raising concerns of a wider regional war that could send oil prices over $100 a barrel.

21.04 / 04:07

COST UPS Target economy Election show Headlines MPC keen to keep lid on inflation, show minutes

inflation to the 4% target on a durable basis,” Reserve Bank of India (RBI) Governor Shaktikanta Das said in the minutes of the rate-setting panel’s last review meeting.

20.04 / 23:08

COST UPS Assurant economy reports A unique number for chartered accountants tells tales about the economy

Mint reported in February. Unlike many sectors, only a limited number of candidates qualify to be CAs every year, making their services more valuable in a growing economy. Documents signed off as part of GST and tax audits shot up 87% annually in 2022 to 6.18 million but shrank by over 36% in 2023 to 3.9 million.

20.04 / 16:05

security economy Remark Enterprise Election wellness Manifesto nationally focused, will be implemented if INDIA bloc comes to power: TMC leader Amit Mitra

INDIA bloc's government comes to power, senior party leader Amit Mitra said on Saturday. Released recently, the TMC's manifesto has a major focus on welfare schemes. It also talks about economy and employment, with promises for sectors such as micro, small and medium enterprises (MSME) and gig economy as well as the unorganised sector. Noting that several key announcements in the manifesto are «nationally focused», Mitra said schemes that have been successful in West Bengal will be taken to the national level. «It is a nationally-focused manifesto. The schemes which have already been delivered in West Bengal will be taken to the national level,» the former finance minister of the state said.

20.04 / 13:58

markets Manufacturing economy Tesla wellness reports Destinations Centre aims to make India attractive destination for manufacturing, services: Nirmala Sitharaman

Nirmala Sitharaman on Saturday said the Centre has tailored policies to make India an attractive destination for manufacturing and services, and the aim was to produce not just for the domestic market but for exports as well. She was responding to a query on American tech billionaire Elon Musk postponing his meeting with Prime Minister Narendra Modi. «Policies have been made to attract investments. We want manufacturers and investors to come and produce not just for India but also for exports. We will try to attract manufacturers and investors through policies,» she told reporters. Tesla CEO Musk on Saturday said his visit to India has been delayed due to the company's heavy obligations.

20.04 / 12:15

Platform economy Election ByteDance TikTok Bill social X owner Elon Musk says opposed to US ban of competitor TikTok

Elon Musk on Friday came out against banning TikTok in the United States, even if it would mean less competition for his social media platform X, formerly Twitter, as the initiative sees fresh bipartisan momentum in Congress.

20.04 / 07:45

UPS economy Moodys love inclusion cricket Australian LSG's Mayank Yadav in contention for India's T20 World Cup squad? Australian legend says ‘absolute lock, pick him when…’

Why isn't MS Dhoni being promoted up the order for CSK? Stephen Fleming says… Former Australian cricketer Tom Moody has jumped into the debate about Mayank Yadav's inclusion in India's T20 World Cup squad. In an interaction with ESPNCricinfo, Moody praised the young pacer saying, “I've loved what I saw for a first couple of games, it was quite extraordinary to the point you want to see the replays of that game. But you cannot have a knee-jerk reaction and pick him in the World Cup, when he has only played two games and got injured" “You don't really know what he's capable of doing over a long period of time, under pressure and in different roles.

19.04 / 22:48

markets UPS economy Bill trends International Oil rises 16% YTD on Middle-East crisis: How will the fresh spike impact India and world markets—Explained

supply policy unchanged till the second half of 2024. The International Monetary Fund (IMF) has described an "adverse scenario" in which an escalation of conflict in the Middle East would lead to a 15 per cent jump in oil prices and higher shipping costs that would hike global inflation by about 0.7 percentage points. Global brokerages such as Morgan Stanley has lifted its third quarter Brent crude oil forecast by $4 per barrel to $94 .

19.04 / 12:56

economy Election DELL students Cycling Dell expects new hiring, economic growth to drive commercial PC sales in India

Dell Technologies is banking on new hirings, replacements and growth in the Indian economy to drive sales of its commercial devices this fiscal, a senior company said. While speaking at the launch of a new commercial personal computers portfolio, Dell Technologies India, Senior Director and General Manager, Client Solutions Group, Indrajit Belgundi said that faster technology adoption is another factor that will drive sales of commercial devices unveiled by the company.

19.04 / 09:19

markets COST UPS Provident economy testing 2024 Toyota Crown Limited: a long day’s journey into meh

RANGE ANXIETY is not just for EV owners anymore. The number of gasoline retailers in the U. S.—gas stations—has fallen by almost a third since 1991, driven off the map by rising real-estate costs and faltering profits, among many factors.

19.04 / 08:53

markets economy WhatsApp CBOE wellness Rate Cut Wall Street's "fear gauge" at over 5-month high on rate cut, Mideast worries

The CBOE Volatility index, an options-based measure of investor expectations for near-term stock market gyrations, hit 21.33 points, crossing the psychological mark of 20 points for the first time since Oct. 30, 2023.

19.04 / 07:53

markets Google Platform economy Election country reports Who is Pragya Misra? ChatGPT developer OpenAI's first India hire as Head of Public Policy Affairs and Partnerships

Bloomberg reported. The development comes as the country goes to polls for the Lok Sabha elections to vote in a new government that, according to the report, will play a significant role in shaping artificial intelligence regulations in the world’s most populous nation. The Microsoft Corp backed-company hired Misra to lead public policy affairs and partnerships in India, people familiar with the matter told Bloomberg.

19.04 / 07:53

economy trends Trade consequences reports FPIs offload ₹20,000 crore in Indian equities in four sessions on rising US bond yields

₹20,000 crore in just four trading sessions. On Thursday, FPIs sold ₹4,260 crore, followed by ₹4,468 crore on Tuesday and ₹3,268 crore on Monday. Last Friday (April 12), they offloaded ₹8,027 crore, bringing the cumulative four-day sell-off to ₹20,023 crore, according to National Stock Exchange (NSE) data.

19.04 / 06:00

markets economy pandemic 2020 reports Department The number of Americans applying for jobless benefits holds steady as labor market remains strong

The number of Americans filing for jobless benefits didn’t change last week as the labor market continues to defy efforts by the Federal Reserve to cool it off

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