Economy Financial News

Chinese Vice President Han Zheng has pledged to provide more opportunities for foreign companies in China as the government tries to restore confidence in the world’s second largest economy

Japan's Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher

One burning issue dominates as the 2024 session of China’s legislature gets underway this week: the economy

Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva

₹1.5 trillion providing the building blocks for the critical semiconductor value chain of design, fabrication, assembly, testing, marking and packaging. Key among these proposals is the partnership between Tata Electronics and Taiwan’s Powerchip Semiconductor Manufacturing Corporation for a ₹91,000-crore fabrication plant with a capacity of 50,000 wafer starts per month. This chip capacity will grant traction at last to India’s long-standing quest for self-sufficiency in semiconductors, or near freedom from reliance on overseas suppliers.

By Tetsushi Kajimoto

TOKYO (Reuters) — Japan's government is considering declaring an end to deflation in the wake of rising prices, Kyodo news agency reported, citing sources with knowledge of the matter.

NEW DELHI : The growth in private investments in fixed assets cooled in 2022-23 after a rebound in the year before when it recovered from a pandemic-induced contraction, official data showed. Unless exports revive and wage growth fuels domestic consumption, private investments may not improve in the coming year either. Private investments in fixed assets rose 6.4% in real terms in 2022-23 to ₹19.7 trillion at 2011-12 prices, after a 16.4% growth in 2021-22.

By Kevin Yao

By Marc Jones, Xie Yu and Scott Murdoch

Aditya Birla Group plans to consolidate its non-banking finance companies (NBFCs) to create better synergies and ensure optimal utilisation of resources and greater economies of scale, following approval by the National Company Law Tribunal (NCLT), said people aware of the matter. The Mumbai bench of the NCLT recently approved the merger of a half-dozen Birla group companies, including Umang Commercial Company Pvt Ltd, Aditya Birla Online Fashion Pvt Ltd and Birla Family Investments Pvt Ltd, into Birla Group Holdings Pvt Ltd (BGHPL), a key holding company of the Aditya Birla Group. The group also expects to achieve efficient utilisation of capital for enhanced development and growth of the consolidated business under a single entity, including its non-banking financial business, which will continue to constitute its core business, said the people.

MAGA coin, a Donald Trump-themed  meme coin , has emerged as a notable contender in the world of cryptocurrency. 

ALSO READ: Shehbaz Sharif to take oath as 24th prime minister of debt-trapped Pakistan tomorrow Mentioning his the controversial topic of Kashmir in his victory speech, he said, as quoted by Hindustan Times, "Let's all come together...and the National Assembly should pass a resolution for the freedom of Kashmiris and Palestinians." In the same speech, he claimed that the expenditure of the National Assembly is being met from borrowed money. "All of these (expenses for running the House) are being met via loans over the last few years.

Federal Reserve Chair Jerome Powell is expected to double down on his message that there’s no rush to cut interest rates, especially after fresh inflation data showed that price pressures persist. Powell is headed to Capitol Hill, where he’ll deliver his semiannual monetary policy testimony to a House committee on Wednesday and a Senate panel on Thursday. The US central bank chief and nearly all of his colleagues have said in recent weeks that they can afford to be patient in deciding when to cut rates given underlying strength in the US economy.

Mint looks deeper into the third quarter performance and the prospects for the next few quarters. After strong growth in the first two quarters of 2023-24 (8.2% in Q1 and 8.1% in Q2), it was expected that the economic expansion will moderate to 6.5% levels in the third quarter. This was because manufacturing, mining and electricity sectors were showing signs of weakness, and an uneven monsoon was hurting agricultural output.

Goldman Sachs, which coined the term BRICS, has come up with monikers for stocks driving stock market rallies in Europe and Japan, alongside the US' 'Magnificent Seven' — Apple, Microsoft, Alphabet, Amazon, Tesla, Meta and Nvidia. European 'Granolas' — GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP and Sanofi — are a more diversified grouping than the US tech constellation. Yet, the 11 companies are still tightly packed around lifestyle, with the occasional presence of software.

By Maha El Dahan and Alex Lawler

Investing.com — It’s set to be a busy week in in markets with Friday’s U.S. jobs report, testimony by Federal Reserve Chairman Jerome Powell and a European Central Bank policy meeting the main highligts. Here’s what you need to know to start your week.

U.S. stocks finished higher on Friday to notch another winning week as the S&P 500 and Nasdaq Composite both ended at new records amid an ongoing rally in AI-linked tech shares.

OPEC and allies led by Russia (OPEC+) have agreed to extend voluntary first-quarter oil output cuts into the second, sources said on Sunday. OPEC+ in November agreed to voluntary cuts totalling about 2.2 million barrels per day (bpd) for the first quarter, led by Saudi Arabia rolling over its own voluntary cut. OPEC+ has implemented a series of output cuts since late 2022 to support the market amid rising output from the United States and other non-member producers and worries over demand as major economies grapple with high interest rates.

Shehbaz Sharif will take oath as 24th prime minister of Pakistan on Monday, reported ARY News citing sources. President Arif Alvi will administer the oath to Shehbaz Sharif in a ceremony held at the President's residence at 3 pm tomorrow, the report added. Army Chief General Asim Munir, caretaker Prime Minister Anwarul Haq Kakar, Chief Ministers, and governors of all provinces, are likely to participate in the oath-taking ceremony.