Economy Financial News

Mint looks at the significance of free trade agreements for India going forward. Unlike a possible deal with the European Union (EU) or the US, India’s largest trading partners, the India-EFTA deal is unlikely to boost bilateral trade by much. In the January-December 2023 period, India’s exports to EFTA, which comprises Iceland, Norway, Liechtenstein and Switzerland, was just $1.87 billion.

Luxury brand leases in India surge 170% in 2023: Report “2024 is anticipated to be a more dynamic year for the both the Asia Pacific real estate markets as well as capital in the region remaining the dominant investor in global real estate. The ability to act quickly, dig deeply into markets and sectors to identify value, and forge productive partnerships will be key to making the most of the region’s diversity and increased opportunity," said Chris Pilgrim, Colliers Managing Director of Global Capital Markets, APAC, said.

European Central Bank will lower borrowing costs in the spring, with June more likely than April for a first move, Bank of France Governor Francois Villeroy de Galhau said. “We will probably cut rates in spring, and spring in Europe is from April to June 21," Villeroy said on France Info radio.

Yogi Adityanath on Wednesday said people should not «waste their votes» on the Congress and the Samajwadi Party (SP) «if they cannot do anything for the poor». In Farrukhabad, Adityanath lashed out at the previous governments and cautioned the voters not to get seduced by those who «imposed curfews, prevented progress and worked on a policy of appeasement». Addressing a function in Unnao to inaugurate and lay foundation stones of projects worth Rs 241 crore, the chief minister asked the gathering, «Could those in the Congress have made the Ram temple (possible) in Ayodhya? Could those in the SP have made it? If they cannot give ration, houses or health facilities to the poor nor can they respect your faith by building a Ram temple, why do you waste your vote and accept them as a burden over you?» With 80 Lok Sabha seats, the maximum amongst all the states, Uttar Pradesh is the most crucial battleground for the Bharatiya Janata Party (BJP), which is eyeing to retain power for a third consecutive term at the Centre in the upcoming general election.

Frothy U.S. Stock Market Just Isn’t Crazy Enough to Be a Bubble Conversely, the Indian stock market suffered strong losses the following day, with Sensex and Nifty 50 falling over a per cent each and the overall market capitalisation of BSE-listed firms plunging by as much as about ₹13.5 lakh crore in a single session. Also Read: Sensex, Nifty 50 fall over 1% each; why did the Indian stock market fall today? The domestic market appeared concerned that a delay in rate cuts could deter foreign capital inflows into it.

Junk bonds are beating less risky debt almost everywhere in 2024, but a Vontobel Holding AG strategist says he’s steering clear of the asset class. 

Figures from the Office for National Statistics also revealed the nation remained in the red on a year-on-year basis, down 0.3% on January 2023's print. While Tom Stevenson, investment director at Fidelity International, noted the «short and shallow recession may already be over», he warned the rising unemployment and slowing wage growth show the economy is «not out of the woods yet». He added the Bank of England is «likely to sit on its hands» over H1 while it waits for a clearer picture of the nation's growth and inflation trajectory. 'More questions than answers' as inflation re...

On Tuesday (12 March), economists gave evidence in the second of three TSC meetings taking a look at Chancellor Jeremy Hunt's Spring Budget last week, in which they noted the numbers on the UK's growth outlook were not aligned between the two institutions. Accompanying the Budget, the OBR report was upgraded from its previous forecast in the Autumn Statement, and suggested GDP growth would average 0.8% in 2024, up from the previously forecast 0.7%. The economy is then predicted to grow 1.9% in 2025, 2% in 2026, 1.8% in 2027 and 1.7% in 2028. By contrast, the BoE downgraded it latest f...

By David Milliken and Suban Abdulla

BENGALURU : India's aim to grow into a $10-trillion economy over the next decade will be fuelled by manufacturing in sunrise sectors such as semiconductors, electronics manufacturing, electric vehicles ecosystem, renewable energy and defence, according to a report by Boston Consulting Group and Matrix Partners. The report estimates that the market for electronics is about $500 billion while semiconductors will become a $120-billion market by 2030.

When everybody’s talking about a bubble in the stock market, should we worry or relax? The answer from past bubbles seems to be a bit of both—with one big caveat about today’s market. The caveat comes first. While it might feel like everyone in the markets is talking about whether there is a bubble, mentions in the media and searches on Google aren’t especially elevated.

By Harry Robertson

A look at the day ahead in European and global markets from Tom Westbrook

Investing.com-- Gold prices steadied in Asian trade on Wednesday, but were nursing a tumble from record highs after a strong U.S. inflation reading kept fears of higher-for-longer interest rates in play. 

By Lewis Krauskopf

By Faith Hung and Liang-sa Loh

India has made «outstanding progress» under the leadership of Prime Minister Narendra Modi from being the 10th largest economy of the world to soon to be the third largest, a popular Indian American Congressman has said, adding that a revolution is going on in India because of digitisation. «The progress (of India) is outstanding (in the last 10 years). When I think Prime Minister Modi was elected, India was like the 10th economy in the world, then it became the fifth economy and very soon to be the third largest economy in the world. So there is absolutely no doubt that India has made amazing progress,» Indian American Congressman Shri Thanedar told PTI in an interview. Thanedar, 69, represents the 13th Congressional District of Michigan and is highly popular among Indian Americans across the country. A Marathi speaker, he travels to various parts of the US, meeting and interacting with various Indian American groups and organisations. He was in India as part of a Congressional delegation last August. «It's a country of young people. I think it has more young people, percentage wise than most nations. That is the strength of India. India has now embraced technology. We are seeing the digitalisation of the financial systems, the banking systems. That digitalisation, that progress, that technology has reached smaller towns, villages. So there is a revolution going on in India,» Thanedar said.

By Brigid Riley

LONDON (Reuters) — Britain will on Wednesday sign a memorandum of understanding on trade with Texas, the biggest U.S. state so far to agree to such a pact aimed at boosting investment.

MEXICO CITY (Reuters) — Mexican retailer Walmex is set to invest around 34.5 billion pesos ($2.05 billion) in 2024, up 19% from previous year, according to a filing published on Tuesday.

PTI, McCormick described PM Modi as a popular leader and said, “Prime Minister Modi is incredibly popular. I was just over there. I actually had lunch with Prime Minister Modi and several other congressmen, and to see his popularity across party lines really.