Economy Financial News

Rishi Kohli, CIO - Hedge Fund Strategies at InCred Alternative Investments, told Mint that Nifty may hit the 25,000 level by the end of 2024. The market is witnessing tailwinds which can propel it to unprecedented levels.

Ambani emphasized the impact of artificial intelligence, stating that the next decade will be defined by applications utilizing large language models and generative AI. He highlighted the ongoing efforts to integrate AI not only as a vertical within the organization but also horizontally across all sectors.

Decline in inflation: In the realm of developed markets, central banks made significant strides in curbing inflation without inflicting substantial harm on their respective economies throughout the past year. Notably, the United States, despite the Federal Reserve initiating its most assertive tightening cycle in over four decades, managed to steer clear of a recession. The effective policies implemented by developed market central banks underscore their adeptness in navigating the delicate balance between taming inflationary pressures and ensuring the sustained health of their economies.

BEIJING (Reuters) — China's manufacturing activity likely contracted for the third consecutive month, a Reuters poll showed on Thursday, weighed by soft demand for manufactured goods, a reading that would embolden calls for more policy support.

Budget 2024: What will the market look for in Vote on Account? Mint collated the views of 10 experts on what they expect from the upcoming Budget. Here's what they said: The Budget will largely be a non-event as it will be a Vote on Account and hence largely a report card with the election commission not permitting any major announcements on account of the ensuing general elections. That being said the fiscal numbers are likely to be in line with the budget estimates.

personal loans. Unravelling the destination of these trillions in personal loans poses a captivating and pivotal question. Discerning where this capital is directed enables us to assess the influence of credit expansion on the Indian economy and pinpoint potential areas of concern.

Satish Menon, Executive Director of Geojit Financial Services underscores the exact nature of the Budget 2024 cannot be predicted at this stage. However, he expects new initiatives to boost manufacturing in India and government expenditure on Infra to flourish. In an interview with Mint, Menon also shares his views on the market and the sectors he is positive about. Edited excerpts: Our understanding is that the final budget will be after the general election, and the February Budget will act as a provisional one.

₹83 to ₹83.70," he said.Global stocks mostly rose on Wednesday with a positive year-end mood continued. The Dow Jones Industrial Average led gains on Wall Street, advancing 0.3% to finish at another all-time high of 37,665.52. In European markets, London leading the way as it closed 0.4% higher.

By Wayne Cole

By Ankur Banerjee

TOKYO (Reuters) -Japan's factory output fell 0.9% in November from the previous month, compared with the median market forecast for a 1.6% drop, data showed on Thursday.

Quiver Quantitative — The U.S. electric vehicle (EV) market, after a period of rapid growth, is experiencing a slowdown in momentum, raising concerns for carmakers who have heavily invested in this technology. Despite a near 50% growth in EV sales earlier in the year, the market has seen a plateau in recent months. This shift is attributed to high prices and limited charging infrastructure, leading to longer sales times for EVs compared to gasoline vehicles. The concentration of EV sales in certain states, particularly in urban areas with better charging infrastructure, highlights the uneven distribution of demand across the U.S.

SAN JOSE (Reuters) — Nicaraguan migrants sent relatives back home record remittances this year through November, data from the country's central bank showed on Wednesday, fueled by massive waves of migration leaving the Central American nation in recent years.

Canada’s economy is still struggling to grow heading into the end of the year after contracting in the third quarter of 2023, according to Statistics Canada.

2023 in review: For Indian tech startups, an unrelenting funding winter However, experts believe that despite these challenges, the Indian startup ecosystem remains resilient, supported by government initiatives and a renewed focus on sustainable, long-term success. The government has introduced several initiatives to support startups including Fund of Funds for Startups, Startup India Seed Fund Scheme, and Credit Guarantee Scheme for Startups.

₹2,000 notes rang bells of demonetization some 7 years ago, as people rushed to change or deposit the same. Was it a measure to remove black money just before election time? Or was it a routine part of a ‘clean notes’ policy? Almost all the notes came back into the system and one could say all’s well that ends well. A nagging question is that if the policy of clean notes is pursued, will the ₹500 note see similar action next year? Shakespeare would say, ‘Give every man thy ear, but few thy voice.’ Ninth, just as news broke that India had lost the World Cup cricket final, a social media post went around claiming that India’s GDP had crossed the $4 trillion mark.

An economy produces two broad types of output: farm and non-farm. The non-farm sector comprises industry and services. As the economy develops, their expansion drives economic growth.

By Davide Barbuscia

Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance. «The need of the hour is to think big and to think bold while ensuring that execution remains timely and robust. It is not easy but can be done and India is seeing this more frequently now,» Joshi said at a conclave organised by State Bank of India on Wednesday. Highlighting the government's focus on fostering capital expenditure and new investment in the economy, Joshi called for a pull in «one direction» from the three key players in capital expenditure and investment — private sector entrepreneurs, bankers, and the government. «Banks delivered very good performance in FY23 as also in first half of FY24, strengthening capital and other key ratios, gearing up to attain scale to finance multiple large value projects/capex and ambitious transition to clean/green energy and mobility,» SBI's chairman Dinesh Khara said. India's GDP growth surprised on the upside in Jul-Sep, clocking in at 7.6% versus the Reserve Bank of India's estimate of 6.5%.

The regulator said that it is reviewing the non-fund based facilities offered by banks such as guarantees and letters of credit to come up with guidelines as they form an important role in the growth and development of the economy. Banking industry's clean up continued for the fifth straight year as the fall in gross bad loans helped report a higher net interest margin, a key measure of profitability. All banks meet the regulatory capital requirements with it at 16.8% as of September. «Lower slippages helped improve asset quality across all bank groups, with gross bad loans to total advances ratio of banks dropping to a 10-year low,'' the RBI said in its annual Report on Trend and Progress of Banking in India.

minister for AI. This would be in keeping with a governmental interface for all technologies with transformative potential such as telecommunications and aerospace.