Economy Financial News

Wall Street strategists are issuing forecasts for the performance of the stock market in 2024. Pay them no mind. The predictions are usually wrong, and when they're right it's only by accident. Consider their prophecies for 2023. At the end of 2022, strategists predicted that the S&P 500 would end 2023 at 4,078, a gain of 6.2% from where it started, according to data from Bloomberg. At the moment, the market is above 4,700, a gain of more than 22%.

There has been much debate over the sovereign credit rating India deserves. New Delhi has long lamented that rating agencies have been unjust in assigning the country their lowest investment grade. Re-examining Narratives: A Collection of Essays, released last week by the Chief Economic Advisor’s office, attempts to explain why these agencies are wrong.

1.PMI is a lead economic indicator computed on the basis of data from different companies. 2.It is computed on the basis of survey of employment, new orders, production, inventory levels and supplier deliveries. 3.This index helps in determining whether the market conditions, as seen by purchasing managers, is expanding, contracting or staying the same. 4.The PMI above 50 indicates an expansion compared to the previous month; below 50 PMI indicates contraction; and stable at 50. 5.The PMI gives an idea about the direction of economy.

Mint looks at the crisis, efforts taken to contain it, and its implication for India and the world. The Yemen-based and Iran-backed Houthi militants have fired over 100 drones and missiles at ships belonging to over 35 countries plying the Red Sea. They are doing so ostensibly in support of the Palestinian cause.

Efficiency becomes particularly salient when applied to logistics. For logistics, efficiency translates into reduced costs, which have far-reaching implications for a country's economy. Efficient trade: Lower logistics costs mean more efficient trade and transportation, reducing consumer prices and heightened business productivity. Countries with streamlined logistics can gain a competitive advantage in the global market, making their products and services more attractive due to lower costs. Free up resources: Minimising unnecessary logistics expenses can liberate resources for other productive purposes, fostering innovation, investment and growth. Green impact: Efficient logistics entail less waste and a smaller ecological footprint. Jobs, jobs: By attracting more businesses through efficient systems, new employment opportunities emerge. This is why efforts have been made to cut logistics costs through:

Mint, Devina Mehra, founder of First Global group, shares why she thinks the current market run-up was always in the offing and what her outlook on the markets is for the next year. Mehra, who is currently based out of Dubai, started her professional career in Citibank, working in the investment banking/corporate finance group and in corporate risk group from 1986-1993. In 1993, she quit Citibank and got membership of BSE.

Partnering with the International Development Research Centre (IDRC) and the Global Development Network (GDN), and with the active involvement of India’s G20 Sherpa, in July this year, Niti Aayog hosted an international conference on ‘A Green and Sustainable Growth Agenda for the Global Economy.’ The conference was an official side-event of India’s G20 presidency, timed such that the discussion could inform the forthcoming summit communique, which subsequently emerged as the landmark New Delhi Leaders’ Declaration. Leadership of the G20 passed from India to Brazil on 1 December, just as the two-week long 28th Conference of the Parties of the United Nations Framework Convention of Climate Change (UNFCCC) got going in the UAE.

Piramal Enterprises Ltd, said growth is being largely powered by public capital expenditure, which empirically has a very high multiplier effect on the rest of the economy. “However, some of the other engines of the economy need to pick up to ensure sustainability of this high growth. As far as September quarter data is concerned, private consumption, agriculture and services sectors seem to be slipping into a slow track.

Since the start of the year, gold has staged a stellar rally. In the years ahead, we believe it will continue to play a key role in an investor’s portfolio. Following are some of the factors that contribute to gold’s growing significance as an investment asset.

Wall Street closed its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up

China has released draft guidelines aimed at curbing excessive spending on online gaming

American electric automaker Tesla’s plans to produce energy-storage batteries in China are moving forward with a signing ceremony for the land acquisition for a new factory in Shanghai

One of the world’s largest electrical vehicle manufacturers, China’s BYD, will open its first European EV production factory in Hungary, the country’s foreign minister said on Friday

The holiday travel rush is hitting its peak as mild weather and lower flight cancelation rates raise hopes for merrier drivers and airline passengers than last year

The Federal Reserve’s preferred measure of prices fell last month, another sign that inflation is easing and that consumers should expect to see lower interest rates in 2024

The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fuel power

Benjamin Netanyahu expressed grief over the deaths of Israeli soldiers who were killed over the weekend amid the ongoing war with terror group Hamas, Times of Israel reported. He also denied the reports that US prevented Israel from carrying out military operations against Hezbollah.

The Cuban government says it will have to either increase prices for fuel and electricity, or reduce rations for basic supplies

Pillsbury Mills was a groundbreaking, history-making flour mill in central Illinois for most of the 20th century

By Marc Jones

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company’s efforts to mend ties with Beijing. Micron said it has reached a global settlement agreement with Fujian Jinhua Integrated Circuit Co. “The two companies will each globally dismiss their complaints against the other party and end all lawsuits between them,” a Micron spokeswoman said in an email, declining to provide further details.