Economy Financial News

07.03 / 01:25

markets UPS Strategy economy country cover International World Bank arm open to $8 billion infra loan cover

NEW DELHI : A World Bank agency is prepared to stand guarantor for up to $8 billion of loans taken by state-owned infrastructure builders and local government bodies, a move that could attract private capital in a whole range of public projects. In an interview, Junaid Kamal Ahmad, vice-president, operations at the bank’s Multilateral Investment Guarantee Agency (MIGA), said the agency’s focus on underwriting loans aligns with India’s infrastructure development strategy at the national and sub-national levels, covering sectors like logistics, transport, electricity and water.

07.03 / 01:25

markets security Analysis economy Trade performer Foreign investors tap small and mid-cap firms to seek the next winners in booming Indian stock market

stock market are increasing exposure to small- and mid-cap companies that are outperforming larger peers. The number of firms with more than 10% overseas shareholding rose to 275 on the BSE 500 Index as of December-end, versus 257 a year ago, according to a Bloomberg analysis of foreign institutional ownership data. The increase was largely fueled by minnows.

07.03 / 00:21

Waters DOW economy Trade President Rate Cut US stock futures tread water as Fed’s Kashkari tempers rate cut cheer

Investing.com-- U.S. stock index futures moved little in evening deals on Wednesday, steadying after a positive session on Wall Street as uncertainty persisted over the scope and scale of the Federal Reserve’s interest rate cuts.

07.03 / 00:21

markets UPS Provident Manufacturing economy Remark reports Stock Market Today: S&P 500 ends higher after Powell reinforces rate-cut hopes

Investing.com-- The S&P 500 closed higher Wednesday, as the rally in tech returned following weakness a day earlier after Federal Reserve Chair Jerome Powell reinforced expectations that interest rate cuts were coming later in the year.

06.03 / 23:21

markets economy Election War shock A Trump victory in the US will shake up the global economic risk scenario

We have entered a period of intensifying geopolitical rivalries and conflicts. Russia’s war on Ukraine is now in its third year; the Israel-Hamas conflict could still become a regional war; and the deepening Cold War between the US and China may yet turn hot over Taiwan later this decade. If Donald Trump wins the US presidential election in November, the world will be even further destabilized.

06.03 / 23:21

UPS FIVE economy trends show stage Schools Economic basics suggest RBI’s 6.5% policy rate is apt

Monetarism a la Friedman says that inflation everywhere is always a monetary phenomenon. Increasing money supply by lowering interest rates can bring about only short-term gains in terms of increased GDP. But as time passes, it will be inflationary, as price expectations and wages adjust to increased money supply.

06.03 / 23:21

UPS economy Sustainability Food performer inclusion inequality play Towards a Viksit Bharat: The farm sector must play a bigger role in our economy

India’s ambition to become a developed nation by 2047 depends on the strategic implementation of enabling reforms. While innovative ideas have been proposed for a Viksit Bharat, the primary sector has largely been left out. Despite being home to 18% of the world population with a median age of 28.2 years, we tend to overlook our core strength—i.e., domestic private consumption, which constitutes nearly 61% of GDP—while focusing on export-led growth.

06.03 / 22:27

Extreme security economy Department strain rights Amid Louisiana's crawfish shortage, governor issues disaster declaration

Amid a crawfish shortage in Louisiana, Gov. Jeff Landry has issued a disaster declaration for the impacted industry

06.03 / 20:07

markets Target Progressive economy Sustainability Election Updates Powell's Testimony: A Cautious Fed Amidst Inflation and Growth Challenges

Quiver Quantitative — Federal Reserve Chair Jerome Powell, in his recent testimony before the House Financial Services Committee, conveyed a cautiously optimistic outlook for the U.S. economy, emphasizing that it's not on the brink of recession. However, he expressed uncertainty about the timeline for rate cuts, acknowledging the need for further progress on inflation. This stance comes as Powell and other Fed officials grapple with balancing the goals of sustaining economic growth and achieving the Fed's 2% inflation target. With the current unemployment rate at 3.7%, the central bank aims for a 'soft landing' where the economy continues to grow without spurring inflation.

06.03 / 19:51

Manufacturing Mobile economy Research country electronic reports Mobile exports to grow to $50-60 billion, says IT Minister Vaishnaw

India will grow more than five-fold to $50-60 billion in the coming time from about $11 billion last year, IT and Communications Minister Ashwini Vaishnaw said on Wednesday. While speaking at a fintech event, the minister said employment in the electronics manufacturing sector will increase from about 10 lakh at present to 25 lakh in the coming days. He said that 10 years ago India imported 98% of mobile phones and at present 99% of the devices are made in India.

06.03 / 19:37

markets COST FIVE Progressive economy CIBC 'All but rules out a cut in April': What economists say about the Bank of Canada's hold

The Bank of Canada held its benchmark lending rate at five per cent on Wednesday and gave little away in its official statement for when it might be ready to start cutting.

06.03 / 18:35

Reuters economy Trade show country information Oil prices rise 2% on smaller build in US crude stocks as Fed signals rate cuts in 2024; Brent nears $84/bbl

Also Read: Explained | Why did OPEC+ members extend oil output cuts to mid-2024 Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 2.42 per cent higher at ₹6,638 per bbl, having swung between ₹6,484 and ₹6,671 per bbl during the session, against a previous close of ₹6,481 per barrel. -The Organisation of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia and Russia agreed earlier this week to extend voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter or mid-2024.

06.03 / 18:15

Citi Maxim Fox security economy President show Times Square billboard warns about 'ticking time bomb' of $34 trillion national debt

Committee to Unleash Prosperity launches new campaign warning American public about «reckless» government spending.

06.03 / 18:15

markets Target Progressive economy Sustainability Remark track Powell says Fed won't rush to cut interest rates until inflation is conquered

Investors are watching for any clarity about the timing of interest-rate cuts this year.

06.03 / 17:21

economy Ten key takeaways from Spring Budget 2024

Great British ISA The chancellor has confirmed the introduction of the widely predicted Great British ISA, which will give investors an additional annual allowance of £5,000 a year to invest solely in UK companies. The threshold will be in addition to the current annual ISA allowance of £20,000. The rollout of the Great British ISA will be subject to a consultation by the Treasury, which will close on 6 June 2024. OBR upgrades growth forecasts The Office for Budget Responsibility has predicted the UK economy will grow 0.8% this year and 1.9% in 2025, compared to its November estim...

06.03 / 17:21

UPS economy Spring Budget 24: UK economy to grow more in 2024 and 2025 than previously forecast

Hunt said the Office for Budget Responsibility expects GDP growth to average 0.8% this year, compared to the previously forecast 0.7% growth in the OBR's November 2023 estimate, and the Bank of England's latest prediction of 0.2% growth. The consensus forecasts among economists was for GDP growth of 0.4%, while think-tank Capital Economists had predicted no growth. The economy is then predicted to grow 1.9% in 2025, 2% in 2026, 1.8% in 2027 and 1.7% in 2028, up from predicted growth at 1.4% in 2025, 2% in 2026, 2% in 2027 and 1.7% in 2028 in the OBR's forecasts in November. Spri...

06.03 / 17:21

Progressive Action economy Spring Budget 24: Chancellor unveils package for long-term UK growth

The actions unveiled in the chancellor's ‘Budget for Long-term Growth' included the introduction of a Great British ISA, abolishing ‘non-dom' taxes, cutting national insurance, expanding full expensing to leased assets, maintaining the pension triple lock and extending the fuel and alcohol duty freezes. In his speech, the chancellor said progress has been made on the government's aims from the Spring Budget 2023 to reduce inflation and debt, and the economy is «beginning to turn a corner» so the focus can shift to growth through tax cuts. Spring Budget 24: UK economy to grow more in 2...

06.03 / 17:21

markets Platform economy Spring Budget 24: Sterling and gilts hold steady as platforms enjoy GB ISA boost

At 12:30pm, when Chancellor Jeremy Hunt was scheduled to begin his address, the yield on UK 10-Year gilts sat at 4.130% and at remained largely steady throughout the chancellor's speech, according to data from MarketWatch. Since then, it has dropped from a spike at 4.151% down to 4.092% at the time of publishing. Spring Budget 24: UK economy to grow more in 2024 and 2025 than previously forecast The yield on one-, three- and five-year gilt yields followed a similar pattern. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said the chancellor wanted to «to avo...

06.03 / 16:45

economy Remark Cycling show Watch Fed Chair Jerome Powell testify live on Capitol Hill before House panel

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06.03 / 16:45

markets UPS Target Progressive economy Remark wellness NOT Powell reinforces position that the Fed is not ready to start cutting interest rates

Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when.

06.03 / 16:27

UPS Provident FIVE economy Features Destinations rowing Edmunds: The five best hybrid SUVs under $35,000

Gas prices regularly fluctuate

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