Economy Financial News

24.01 / 23:05

markets COST UPS economy Trade country 5 simple ways Canada can get inflation down to 2% without raising interest rates

Inflation is the great evil of an economy, according to the Bank of Canada. It is so important to get our inflation rate to two per cent that it will use the tool of raising interest rates significantly to get there. Yes, it may cost hundreds of thousands of people their jobs, but it will be worth it. Yes, it may cost Canadians billions of extra dollars on their mortgages, but it will be worth it. Inflation is just that insidious, so it must be tamed even if it comes at tremendous costs to large swaths of the population.

24.01 / 23:05

markets COST Target FIVE economy Sustainability Bank of Canada holds interest rate at 5%, but signals shift in direction

The Bank of Canada held its key overnight interest rate at five per cent for the fourth consecutive time, as inflation remains higher than desired and economic growth has not slowed enough to warrant a cut.

24.01 / 21:47

UPS economy Netflix NVIDIA reports record high S&P 500 ekes out another record high as Netflix and chipmakers leap

By Noel Randewich and Johann M Cherian

24.01 / 20:15

markets Target Action economy Align Experts PBOC's Bold Move: RRR Cut to Inject $139 Billion in Liquidity

Quiver Quantitative — In response to economic challenges and a significant stock market decline, China has announced a strategic reduction in its reserve requirement ratio (RRR) for banks. Set for implementation on February 5, this move aims to inject 1 trillion yuan ($139 billion) of long-term liquidity into the market. This proactive step, unusually announced in advance by the People's Bank of China (PBOC), is part of broader measures to stabilize the economy and financial markets. These efforts include enhanced support for the property sector and deepening financial collaboration with Hong Kong.

24.01 / 20:14

markets UPS economy wellness country Oil prices rise as US crude oil stocks slump, China stimulus boosts demand hopes

Investing.com — Oil prices settled higher Wednesday, as sentiment was boosted by a much larger than expected decline in U.S. weekly crude stockpiles and hopes that fresh stimulus measures to boost China's economy will shore up the oil demand outlook.

24.01 / 19:29

Reuters economy President performer country stake Bill Ackman, wife buy 4.9% stake in Israeli stock exchange

JERUSALEM (Reuters) -Billionaire hedge fund manager Bill Ackman and his Israeli-born wife, Neri Oxman, spent $25 million for an equity stake of around 4.9% in the Tel Aviv Stock Exchange (TASE), the Israeli bourse said on Wednesday.

24.01 / 19:15

COST UPS Provident Target Gap economy country Centre clears ₹8500 cr gasification scheme as window on coal use narrows

₹8,500 crore viability gap funding (VGF) scheme for coal gasification. In another decision, the cabinet committee on economic affairs (CCEA) also approved an equity investment of ₹3,799.64 crore by Coal India Ltd for setting up coal gasification joint ventures with GAIL (India) Ltd and Bharat Heavy Electricals Ltd (BHEL).

24.01 / 16:53

Digital economy Research country innovations patient Pharmaceuticals Powered by innovative drugs, pharma industry can be worth $200 billion by 2030, says Biocon chief Kiran Mazumdar-Shaw

Research-based incentives to develop innovative drugs can help the domestic pharmaceutical sector to be worth USD 200 billion by 2030, Biocon Executive Chairperson Kiran Mazumdar-Shaw said on Wednesday. Terming the pharmaceutical sector as a great contributor in the country's economic growth, she noted that the industry has even greater potential to grow in the years to come. «India's pharma industry size is estimated at about USD 65 billion today.

24.01 / 15:51

markets COST Target Cooper economy Remark show Bank of Canada holds key rate, signals hikes could be over

The Bank of Canada held its benchmark interest rate steady at 5.0 per cent on Wednesday and hinted that its tightening cycle might have peaked.

24.01 / 15:21

Target economy Sustainability Food Research Experts inclusion Budget 2024 Expectations: Agri-credit to fertilizer subsidy—here's what agriculture sector expects this year

Also Read: A ₹2 trillion cheque is getting ready for the agriculture ministry This budget typically outlines estimates for revenue, expenditure, financial performance, fiscal deficit, and projections. Industry expects believe that anticipations are high that the government will increase welfare spending and potentially aim to decrease the fiscal deficit to 4.5 per cent of the gross domestic product (GDP) by FY26.

24.01 / 15:21

COST economy Trade show 2020 reports Traffic The Middle East Crisis Is Starting to Weigh on the Economy

Europe’s economy is beginning to feel the pain from supply-chain disruptions caused by the crisis in the Middle East. Data released on Wednesday showed businesses had to wait longer for parts to arrive in January after attacks by Yemen-based Houthi rebels on cargo ships in the Red Sea disrupted freight routes from Asia. The attacks persuaded numerous freight carriers to take the safer but longer and more expensive journey around Africa via the Cape of Good Hope.

24.01 / 15:21

markets Reuters Mobile economy country exclusive International open Saudi Arabia to open first alcohol store in Riyadh for non-Muslim diplomats

RIYADH : Saudi Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats, according to a source familiar with the plans and a document. Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases, said the document, which was seen by Reuters. The move is a milestone in the kingdom's efforts, led by Saudi Crown Prince Mohammed bin Salman, to open the ultra-conservative Muslim country for tourism and business as drinking alcohol is forbidden in Islam.

24.01 / 14:09

Progressive Fox CEO economy Bill cover Most Americans cannot afford a $1K emergency expense

Bank of America CEO and Chairman Brian Moynihan discusses the Feds rate hikes, 2024 consumer strength and big bank regulation.

24.01 / 13:29

COST UPS Manufacturing economy Boeing show UK economy picks up speed but Red Sea crisis hits factories

By William Schomberg

24.01 / 13:29

markets UPS Manufacturing economy Trade performer reports Stocks climb on positive tech earnings, China rescue report

By Tom Wilson

24.01 / 13:29

markets UPS economy trends Latin Headlines Mexican headline inflation continued to accelerate in early January

(Reuters) -Mexican headline inflation persisted in its upward trend for the fifth half-month in a row, above forecasts, according to official data released on Wednesday.

24.01 / 13:01

economy Remark country International Metal recycling industry calls for policy adjustments to boost circular economy

Goods and Service Tax, import duty and absence of other initiatives for a circular economy are hindering metal recycling, industry body officials said on Wednesday. With more headwinds expected from scrap-exporting countries in near future, the country needs to remove ambiguity to showcase India's commitment to a circular economy, aiming at reducing emissions, they said.

24.01 / 12:35

markets UPS economy Trade country reports play A Smarter Way to Play ‘China Bailout Roulette’

Will Beijing bring out its big bazooka to rescue China’s battered stock market? That is the billion-dollar question as investors try to time the bottom for Chinese stocks. But they might be wise to also look at some easier bets. Chinese stocks are off to a bad start in 2024, after doing poorly over the last couple of years.

24.01 / 12:35

markets Digital CEO economy stage exclusive Interviews Budget 2024 expectations: MobiKwik CEO Bipin Preet Singh seeks green finance benefits for fintech, exclusive licences

Budget Expectations 2024: Ahead of the upcoming interim budget for the fiscal year 2024-25, Bipin Preet Singh, founder and CEO of MobiKwik Systems, laid out his asks, including investments focused on synergy of AI with fintech, exclusive licences, green finance and more, while speaking with Livemint in an exclusive interview. MobiKwik made headlines after it filed a draft red herring prospectus (DRHP) with the capital market regulator, the Securities and Exchange Board of India (SEBI), for an initial public offering (IPO) for the second time earlier this month. A: Currently, English is the only language that all fintech is using, and India is a diverse country.

24.01 / 12:35

markets Provident security economy performer International Government allows direct listing of securities by Indian companies on GIFT IFSC

GIFT-IFSC, will reshape the Indian capital market landscape and offers Indian companies, especially start-ups and companies in the sunrise and technology sectors, an alternative avenue to access global capital beyond the domestic exchanges," according to a statement by Ministry of Finance. “This is expected to lead to better valuation of Indian companies in line with global standards of scale and performance, boost foreign investment flows, unlock growth opportunities and broaden the investor base.

24.01 / 11:55

markets UPS Provident Manufacturing economy inclusion Destinations Why HSBC sees $100B foreign inflows for Indian bonds

Indian bonds are likely to attract about $100 billion of foreign inflows in the coming years, lured by the global bond index inclusion, according to HSBC Asset Management.

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