Economy Financial News

Cuba’s economy is in its worst state since the collapse of the Soviet Union in the 1990s. Even the official figures—which one Western businessman in Havana, the capital, describes as “an exercise in a cover-up"—make grim reading. Annual inflation, according to the government, is at 30%.

₹1,340 crore on Google and issued a cease and desist order to remove its monopolistic practices. India is not the only jurisdiction where Google’s Play Store is facing accusations of monopolistic practices. Last December, Google’s Play Store and billing service faced charges of being an illegal monopoly at a US district court.

February was another terrific month for the stock market as the S&P 500 and Nasdaq wrapped up their fourth winning month in a row to notch their best start to a year since 2019.

China’s woes. Just over a year ago, Mr Xi abandoned his strict “zero-covid" measures, which had been in force for nearly three years and had led to ever more frequent lockdowns. But the country did not experience what Mr Xi described in his speech as a “smooth transition".

youth employment, was of «great concern» to its delegates on the eve of annual legislative meetings in Beijing. Thousands of delegates from across the country will convene in Beijing on Monday for the start of the ruling Communist Party's yearly conclave, known as the "Two Sessions".

Apple office at Minsk Square in Bengaluru, a bunch of developers are teeming with excitement and nervous energy. They are here to meet Greg Joswiak — better known as ‘Jos’ — Apple’s senior vice-president of worldwide marketing. Joswiak chats with four developers — handpicked by Apple — and listens to their stories intently. “There’s a thirst to be successful in India and there’s a lot of passion for our products in India,” Joswiak told ET in an exclusive chat. Joswiak acknowledged the substantial growth of India’s app economy, which currently supports over a million jobs and continues to expand rapidly. He emphasised the immense opportunities available to Indian developers globally, particularly within the iOS ecosystem, where innovations often debut first.

minister on Sunday said the country's external sector performance has seen a marked improvement year on year with tourism fetching USD 342 million in January 2024, an impressive 122 per cent jump from last year. Speaking in Ruwanwella, his home constituency, Minister of State for Finance Ranjith Siyambalapitiya was delving into the Central Bank of Sri Lanka's external sector indicators issued mid-week. Siyambalapitiya said the bank figures show that receipts from tourism had fetched USD 342 million, which is a 122 per cent growth in January 2024 year on year.

In the late 1990s and early 2000s, the U.S. and the global economy experienced a “China shock," a boom in imports of cheap Chinese-made goods that helped keep inflation low but at the cost of local manufacturing jobs. A sequel might be in the making as Beijing doubles down on exports to revive the country’s growth.

2024 is expected to be a year of change in the development of the gaming industry, especially in light of the exciting new trend, GameFi. Combining the world of video games and decentralized finance, GameFi creates a unique space where players enjoy virtual worlds and actively participate in economic processes.

It’s been two years since the Bank of Canada started the most aggressive interest rate hike campaign in its history in a bid to tame rampant inflation, and the Canadian economy looks vastly different.

BSE Sensex logging a third straight weekly gain buoyed by strong macroeconomic indicators and renewed foreign fund inflows. Despite a volatile week, the equity benchmarks achieved record highs extending their sharp rally during Saturday's special trading session. On the stock-specific front, RailTel Corporation of India, Data Patterns, Force Motors, Jubilant Industries, Kalyani Steels, Tata Investment, Greenply Industries, Indo Count, Zen Technologies, Newgen Software, Schneider Electric Infra, and others are among the smallcaps that logged a double-digit rise in their share prices last week.

Congress leader Rahul Gandhi on Saturday alleged that Prime Minister Narendra Modi has become a «speed breaker» for the «rapidly-growing» economy under the UPA. In a post on X, he also claimed that while the Congress gave a boost to development by empowering the poor, the prime minister is «hollowing out» the country for the benefit of his «few friends». «Narendra Modi has become a 'speed breaker' for the rapidly growing Indian economy under the UPA government,» Gandhi said in his post in Hindi.

Strong GDP growth and a weak monsoon drove up India's energy-related carbon emissions by around 190 million tonnes in 2023, though the country's per capita emissions remain far below the global average, the International Energy Agency said. Global energy-related carbon emissions grew by 1.1 per cent in 2023, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 gigatonnes (Gt) in 2023, the International Energy Agency (IEA) said on Friday. It said emissions in China grew around 565 Mt in 2023, the largest increase globally and a continuation of its emissions-intensive economic growth in the post-pandemic period. Per capita emissions in China are now 15 per cent higher than in advanced economies. However, China continued to dominate global clean energy additions.

digitalization. This convergence forms the essential recipe for an economy poised to catapult into unprecedented growth and prosperity. The Indian economy stands on the cusp of explosive growth, being touted as the fastest-growing economy over the next 10 years and anticipated to become the third-largest economy by 2030. Thanks to advancements in technology, improvements in the standard of living, a surge in disposable income, and a general upswing in interest, financial awareness has become a prevalent topic of discussion recently. The principal drivers of Indian financial investments typically revolve around a few major asset classes: equities, real estate, gold and fixed income. Of these four, equity and FDs (as a proxy for fixed income) have been the financial market’s investment options. Historically, fixed deposits (FDs) have long been the go-to option for risk-averse investors seeking stability. For instance, as of March 2023, term deposits in India totalled $1.35 trillion, with individuals and Hindu Undivided Families (HUFs) accounting for 47.35% of the total, according to RBI data.

Nifty 50 vs GDP of India: The key benchmark indices of the Indian stock market surged to a new high after India's Q3 GDP growth saw an impressive growth rate of 8.4% driven by robust manufacturing, highlighting the inherent strength and potential of our economy. However, the domestic equities got some support from the US Fed rate cut buzz as well after the easing of US inflation data that triggered profit booking in the currency market and the US dollar index came below the 104 level. According to stock market experts, Nifty 50 or Sensex or any other index of the Indian stock market grows two to two and a half times the GDP growth registered by the national economy.

WestJet and Air Canada has gone up.For those who purchased an economy basic or standard fare with Air Canada on or after Feb. 28 for travel within Canada or to the U.S., the Caribbean, Mexico or Central America, the fee went up $5, from $30 to $35 for the first bag and to $50 for a second bag.For WestJet tickets purchased on or after Feb.

₹26,000 per month v. ₹10,000 in the rest of India) committing suicide? Why does Punjab, India’s most highly irrigated state, continue to be a home for farmer protests? Sayantan Bera, Mint’s resident expert on India’s rural economy, dives into Punjab’s farming communities to explain the crisis unfolding in the land of the five rivers. A groundwater crisis and the persistently broken economics of farming in India make for a distressing picture.

By Walter Bianchi

By Michael S. Derby and Dan Burns

The Canadian economy has dodged a recession as gross domestic product edged up in the fourth quarter last year, primarily due to higher exports of crude oil and reduced imports, making it likely the Bank of Canada will stick to its plan of holding interest rates when it makes its next announcement on March 6.

Canada’s largest banks took higher provisions for credit losses and classified more loans as impaired in their fiscal first quarters, but showed resilience in other areas, an indication that the country’s lenders are weathering a softening economy brought on by higher interest rates.