Economy Financial News

As Fed policymakers stuck to their path of lowering rates this year, the Bank of England also moved closer to cuts. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

The Lancet, a weekly medical journal. It is already below the universally accepted replacement rate of 2.1 – the study estimated the rate at 1.91 for 2021. TFR refers to the average number of children born to a female throughout her reproductive lifespan (from 15 to 49 years of age).

coal to history, the dirtiest fossil fuel is having a moment. Thanks to a combination of China’s energy insecurity — pushing Beijing back to trusted power sources — plus rising Indian demand, the continued fallout from the war in Ukraine and faltering international programs to wean developing economies off fossil fuels, coal is proving remarkably resilient. Output hit a record last year, and producers are preparing for a future where they will be required for decades yet to balance renewable energy. Even prices are holding up. While thermal coal is trading at just a fraction of the lofty levels reached in 2022, after Russia’s invasion of its neighbor, prices are still well above historic norms. Benchmark Newcastle coal futures are changing hands just under $130 a ton, roughly a quarter of the peak but higher than any level between 2011 and 2020.

BEIJING (Reuters) -China will carefully study issues of market access and cross-border data flows and will soon issue new regulations in these areas, Premier Li Qiang told an audience of global CEOs and Chinese policymakers on Sunday.

₹6,749 per barrel after hitting an intra day high of ₹6,803 per barrel, on the multi commodity exchange (MCX). Also Read: Explained | Upside risk on inflation to export woes—here's how the Red Sea crisis will impact Indian economy in FY25 -Analysts said that successful peace talks would prompt Yemen's Houthi rebels to allow oil tankers to pass through the Red Sea. Blinken met Arab foreign ministers and Egypt's President Abdel Fattah El-Sisi in Cairo as negotiators in Qatar centred on a truce of about six weeks.

By Andrea Shalal

Edited Excerpts of an interview with Livemint 1) How do you assess the current domestic and global market conditions, and what factors are you closely monitoring? Inflation and geopolitical tension are the main factors impacting the global economy at present. US inflation, still hovering above the 3% level is proving to be stickier and more persistent, hence rates are likely to remain higher for the time being and any cut is unlikely in 1HCY24. To add to the concerns, the Red Sea attack by the Houthis added to higher freight rates across the globe.

Maldives President Mohamed Muizzu has extended an olive branch, asserting India's crucial role as the Maldives' "closest ally", PTI reported. In a recent interview with local media, Muizzu emphasised the need for continued support from India, particularly in addressing the Maldives' debt burden. "India will continue to remain the Maldives’ closest ally, there is no question about it," he told local Dhivehi language publication 'Mihaaru' in an interview — his first one since assuming office last November.

India's car industry is on track for a record-breaking year, with sales expected to touch about 4.23 million vehicles, buoyed by a double-digit sales surge this month. The robust performance would cement India's position as the world's third-largest passenger vehicle market, staying ahead of Japan for the second year in a row. As many as 3.99 million passenger vehicles were registered in Japan in 2023, which reports data on a calendar year basis. China is the largest car market, followed by the US. Around 375,000-380,000 cars, sedans and utility vehicles are expected to be sold in India in March, up from 336,000 units a year earlier, making it the 15th consecutive month that PV sales have breached previous monthly records. For the first time, sport-utility vehicles are set to capture more than half of the passenger vehicle market in a year underscoring their growing popularity.

Reserve Bank of India (RBI) data showed that credit card transactions increased to Rs 1.7 lakh crore in January from Rs 1.3 lakh crore a year ago. In volume terms, the increase was 26%, to 330 million from 260 million, during this period. E-commerce transactions and bill payments formed more than half the total transactions, the data showed. Experts said the bulk of the online purchases were by the younger generation who also enjoyed the additional credit benefit of equated monthly instalments (EMIs) and ‘buy now, pay later’ (BNPL) schemes.

economic outlook for FY25 remains «bright», the finance ministry said on Friday, noting that the economy will close the current fiscal with strong growth accompanied by stable inflation, robust external account and progressive employment scenario. «On the whole, India looks positively towards the dawn of FY25,» the ministry said in its monthly economic report for February. It asserted that the pick-up in investment has been «broad-based», driving growth while consumption remains «steady». The government's capital spending push has helped crowd in private investments, the ministry said. It, however, flagged that an increase in domestic household savings will be necessary to finance private sector capital formation.

Credit card transactions surged 30% year-on-year in January despite regulatory restrictions on some business payments through this mode as reward points offered by banks were lucrative, as were the repayment terms, said experts. Reserve Bank of India (RBI) data showed that credit card transactions increased to ₹1.7 lakh crore in January from ₹1.3 lakh crore a year ago. In volume terms, the increase was 26%, to 330 million from 260 million, during this period. Ecommerce transactions and bill payments formed more than half the total transactions, the data showed. Experts said the bulk of the online purchases were by the younger generation who also enjoyed the additional credit benefit of equated monthly instalments (EMIs) and 'buy now, pay later' (BNPL) schemes.

I have a good job, a loving husband, healthy kids and a comfortable home. I came late to it all and I sometimes can’t believe my luck: that the sleep-warm little bodies I help dress in the morning are my own children, that the man in my bed at night helped me make them. But the clichés about motherhood and aging and that ever-elusive work-life balance did not quite prepare me for the clichés of my life.

Also Read: Germany deputy foreign minister 'optimistic' about multi-billion dollar submarine deal with India The Bundesbank has also highlighted that Germany is probably in a six-month slump, though it’s made a point of saying a severe downturn is unlikely. The Economy Ministry said most research institutes “expect GDP to fall again in the first quarter of 2024." “Despite positive trends in industrial production, construction and foreign trade at the start of 2024, a noticeable economic recovery isn’t yet in sight," it said in its monthly report.

pollution led to more than 2.3 mn premature deaths in India. Such an environmental crisis makes a mockery of the 'ease of living' index and is no help to any 'ease of doing business' index either. Air pollution impacts a significant proportion of the global population. In 2022, WHO pointed out that almost 99% of people breathe air that breaches its standards. As India gears up for a higher growth trajectory to build a ₹5 tn economy, substandard air can derail the India story in multiple ways. When people are ill, productivity plunges, absenteeism increases, healthcare expenses rise and savings fall. Women, socially entrusted with care-giving tasks, are compelled to take leave to look after impacted family members. They could even drop out of the workforce.

The Egyptian government has raised fuel prices in a move that is bound to exacerbate inflationary pressures on an already-struggling population

If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year

Vietnam's president has resigned as the ruling communist party in the latest episode of a “blazing furnace” anti-corruption campaign

Change in trade route: Container ships routing through the Suez Canal are shunning and rerouting around the Cape of Good Hope. By the first half of February 2024, container tonnage crossing the Canal fell by 82 per cent, and vessel tonnage passing through the Cape of Good Hope increased by 60 per cent. • Increase in the distance and operational shift due to rerouting of ships: The extra miles travelled and days lost due to trade diversion has translated into additional costs such as fuel costs and lost value of time-sensitive cargo.

ICRA said in a recent report. The report added that the sustenance of domestic leisure and business travel, and demand from meetings, incentives, conferences, and exhibitions (MICE) are likely to drive demand in FY25 despite a lull during the Lok Sabha elections. As things stand, India remains the world’s fastest-growing major economy.

Investing.com — FedEx surprised with strong earnings growth, while Nike warned of a revenue dip, resulting in differing stock performances. Apple faces a antitrust lawsuit, yet Wall Street looks set to end the week with strong gains.