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If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won't be interest rate reductions anytime soon.

India into a developed country by 2047. Revamping the Pradhan Mantri Gram Sadak Yojana (PMGSY) will focus on substantially expanding and upgrading the network of rural roads and linking them with nearby hubs and markets to bolster «productive capacity of the economy and ensure ease of living», said the people cited above. «Along with rural housing, rural roads will assume renewed focus in the next term (of the Modi government). The priority will not just be to have roads in every nook and corner of rural India but to go beyond that and link economic, educational, health, social or agriculture centres,» one of the persons said. «These steps are aimed at transforming rural India like never before,» he added.

David Dodge, former deputy finance minister and governor of the Bank of Canada, said before the 2024 federal budget was presented that it would “likely be one of the worst in decades.” He wasn’t wrong. The budget Finance Minister Chrystia Freeland delivered Tuesday fails to address the biggest problem currently facing Canada — our declining standard of living.

Prime Minister Justin Trudeau hit the trail to make a series of pre-budget announcements, mostly on housing, that left some wondering what was left to be said when the federal budget 2024 was released on Wednesday. It turned out, the Liberals still had some surprises in store for Canadians and businesses.

Since the great financial crisis of 2007-08, regulators have engaged in the biggest push since the 1930s to de-risk the global financial system. Yet instability and flawed risk management have proved extraordinarily resistant to this regulatory onslaught.

The rupee has fallen to a new low of 83.5 against the dollar. This has wide ramifications, making exports lucrative but imports expensive. Mint looks at why the currency is falling, how it impacts everybody and what can RBI do.

NEW DELHI : The World Bank plans to provide a $1 billion line of credit to the State Bank of India (SBI) to support the expansion of Battery Energy Storage Systems (BESS) and electric mobility in the country, two people aware of the development said, a move that helps India quicken its green energy transition. The proposal aims to help attract early investments and mobilize private capital and commercial financing. The amount will be disbursed in tranches.

Palumbo Wealth Management founder and CEO Philip Palumbo suggests how investors can build a sound portfolio on 'The Claman Countdown.'

UK's March inflation print underscored market uncertainty about when BoE policymakers led by Governor Andrew Bailey will be able to ease off on the highest interest rates in 16 years. However, UK inflation is still higher than the BoE's two per cent but the direction of the downtrend is clear, said analysts. While UK has lifted rate cut hopes.

Investor bets for above-trend growth and inflation rose to 24% in April, up rapidly from 12% in March and 5% in January. This comes as 41% of fund managers surveyed see higher inflation as the biggest tail risk, followed by geopolitics at 24%. Stagflation, where the economy experiences below-trend growth and above-trend inflation, remains the consensus view, at 60%. However, this is down from the 92% peak in September 2022.  Only 9% of investors surveyed expect an environment of stagnation, with below-trend growth and inflation, and only 6% predict a ‘goldilocks' scenario of above-tre...

Rajnath Singh on Wednesday questioned the intention behind the CPI(M)'s poll manifesto promise to dismantle nuclear weapons in the country and demanded to know the stand of the Congress on this issue. Singh alleged talk of dismantling India's nuclear weapons amounted to playing with national security and that there was a «deep-rooted conspiracy to weaken the country». He accused the Left and the Congress, both allies in the anti-BJP INDIA bloc, of apparently trying to weaken the country. Speaking at a public meeting in Kasaragod Lok Sabha seat seeking votes for BJP candidate M L Ashwini, Singh demanded that the Congress should clarify its stand on the CPI(M)'s promise in the manifesto to dismantle nuclear weapons as it was the Indira Gandhi government which kicked off the country's nuclear programme in 1974.

Our markets are volatile with recent events of Iran-Israel tensions and the potential for a war-like scenario taking a toll. While we do not purport to be experts on geo-political event outcomes, recent history suggests that these events take some time to de-escalate as global leaders work towards limiting both direct and collateral political implications to countries involved in such attacks. History shows that such conflicts have nearly always created near-term volatility which in hindsight, also show up as long-term opportunities.

India’s investment landscape is diverse, catering to various financial goals, risk appetites, and time horizons. They range from tax savings schemes (PPF, NPS, ELSS, ULIPs, Tax Saving Deposits), longer horizon and higher returns products (mutual funds, stock investments, IPOs), shorter horizons (fixed deposits, liquid mutual funds, ultra short-term debt plans), medium-term goals (ELSS, FDRs, Recurring Deposits) and longer-term goals (Equity Mutual Funds, direct equity, gold, real estate, NSCs, Bonds). On 9th April 2024, the BSE Sensex in India touched the 75,000 mark. It was incepted in 1979 at 100 value and has compounded at a rate of 15.85% in these 45 years. India is the fifth largest economy in the world, and there is a good probability that a growth rate of 15% may well be sustained in the future, let’s say for the next 45 years, too!

T20 World Cup: Hardik Pandya’s role in the upcoming T20 World Cup was the main topic of discussion at a significant meeting held at the BCCI headquarters in Mumbai last week, as reported by The Indian Express. The meeting involved captain Rohit Sharma, head coach Rahul Dravid, and selection committee chairman Ajit Agarkar. They concluded that Pandya must bowl regularly to be considered for inclusion in the team, the publication added.

Irfan Pathan took an indirect dig at the most expensive player in Indian Premier League (IPL) history, Mitchell Starc, as his lean form continued against the Rajasthan Royals in the ongoing season. The experienced Australian pacer, who is renowned for his searing yorker, was acquired by KKR for a record-breaking price tag of Rs 24.75 crore. During KKR's narrow defeat, Starc gave away 50 runs at an economy of 12.50 in his four-over spell.

Federal Reserve Vice Chair Philip Jefferson suggested that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation

Morgan Stanley is cutting at least 50 investment banking jobs in Asia Pacific, three sources said, becoming the latest among global banks to scale back operations in the region mainly due to a slump in China markets. The layoffs affect around 13% of the Wall Street bank's Asia investment banking workforce of 400 in the region, according to one of the sources.

Also Read- Multibagger Stock: KPI Green Energy zoomed over 200% in less than six months, advanced 510% in a year “The forecast of above normal monsoon augurs well for the economy and stock markets. This will enable a 7 % GDP growth for FY 25 with corporate earnings growth of around 14 %" said *V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. The Good monsoon will lift the rural economy and improvement in rural income will boost demand for consumer staples, which, in turn, will boost the bottom line of FMCG companies, added Vijayakumar.

Raghuram Rajan said, adding that it is important for the country to enhance its human capital and skillsets, PTI reported. Speaking at a conference titled "Making India an Advanced Economy by 2047: What Will it Take" at George Washington University in the United States, Rajan expressed concern over India's current growth rate. "I think we are in the midst of it (demographic dividend), but the problem is we are not reaping the benefits," he stated.

Gold prices held steady on Wednesday as safe-haven demand for bullion amid the Middle East conflict partially offset pressure from higher U.S. Treasury yields. FUNDAMENTALS

The world is facing its worst five-year span in three decades. Higher interest rates have left developing countries crushed by debt, and half of the poorest economies haven’t recovered to where they were before the pandemic. Growth is weak across large swathes of the world, and inflation remains persistently high.