Economy Financial News

National Infrastructure Pipeline (NIP) was launched with 6,835 projects and has expanded to capture over 9,288 projects with a total outlay of Rs 108.88 lakh crore between 2020-25, the finance ministry said on Thursday. «NIP comprises brownfield and greenfield infrastructure projects of above Rs 100 crore across both economic and social infrastructure,» the Finance Ministry said in a post on X.

LIC or Life Insurance Corporation of India has been exempted till 2032 to follow 25% minimum public shareholding norms. «Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Department of Economic Affairs, Ministry of Finance vide Office Memorandum dated December 20, 2023, has decided in the public interest, to grant one-time exemption to Life Insurance Corporation of India to achieve 25% Minimum Public Shareholding (MPS) within 10 years from the date of listing i.e., till May 2032 under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957,» LIC said in a regulatory filing. In May 2022, the government had sold 3.5% stake in LIC IPO, which was an entirely (offer for sale) worth around Rs 21,000 crore. It remains India's largest IPO to date. The stock is now down around 19% from its IPO issue price of Rs 949 per share.

By Pablo Mayo Cerqueiro

NEW DELHI : Credit rating agencies need to reform their sovereign rating process to correctly reflect the default risk of developing economies, saving billions in funding costs, the government’s chief economic adviser, V Anantha Nageswaran, said on Thursday. His comments coincide with India seeking an upgrade to its sovereign credit rating, currently at the lowest possible investment grade, as the South Asian nation has seen its economic metrics improve considerably since the pandemic.

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits rose just marginally last week, suggesting underlying strength in the economy as the year winds down.

The EUR/USD pair has been struggling but still largely edging higher in recent times, as it looks to finish the month and year in positive territory.

PRAGUE (Reuters) -The Czech National Bank (CNB) started an interest rate-easing cycle on Thursday with a 25 basis-point reduction that puts the main repo rate at 6.75%, the first cut in more than three years amid a backdrop of slowing inflation and a sagging economy.

The rally in US stocks is showing signs of fatigue, and investors should be ready to buy into any declines, according to Citigroup Inc. strategists.

With mixed data from major economies and the continued risks from geopolitical issues, there is little consensus about the outlook for 2024.

LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together.

Investing.com -- U.S. stock markets slump as a December rally pauses, while Treasury yields dip as traders stick to bets that the Federal Reserve will roll out interest rate cuts early next year. Elsewhere, Micron (NASDAQ:MU) delivers a stronger-than-anticipated current-quarter revenue outlook, fueling a premarket jump in shares in the closely-watched memory chipmaker.

PE investments in Indian real estate declined by 44 per cent to USD 3.0 billion in 2023, the report added. Mumbai, NCR, and Bengaluru emerged as critical destinations for office investments. Mumbai led the PE investment trend at USD 1,685 million, followed by the National Capital Region (Delhi NCR) at USD 835 million.

Just one week ago, the Mollars token presale [view here] had only 5000 tokens sold.  Fast forward into this week, the live Initial Coin Offering is closing in on 20,000 tokens sold and rated as a hot pick by ICOHolder.

Amitabh Mohanty, MD and CEO of JM Financial Asset Management Ltd. In an interview with Mint, Mohanty shared his views on the Indian market and mid and small-cap space. Edited excerpts: It may not necessarily be a simple vote on account.

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To placate a war-weary population, Russia has doled out billions of dollars of cheap loans for its citizens to buy new homes. That money is now creating an economic headache that few predicted: a fast-building housing bubble. A debt-fueled surge in housing prices, along with fast-rising inflation, has exposed stark divisions among Russia’s leaders even as the battle rages on in Ukraine.

Evidence is mounting that the Bank of Canada’s benchmark interest rate is high enough to bring inflation all the way back to the two-per cent target, deliberations from the central bank’s latest rate decision show.

Luck plays a big and often unacknowledged part in career success, starting in the womb. Warren Buffett has talked of winning the “ovarian lottery" by being born in America when he was, and being wired in a way that pays off in a market economy. Good looks are associated with higher pay and a greater chance of being called to interview in hiring processes.

Mint takes a look at the crisis and India’s stakes in it. Originating from northern Yemen, the Houthis have been embroiled in a decade-long civil war, gaining significant territorial control, including Sanaa, the capital. The Houthis are considered close to Iran and have maintained a hardline stance against Israel and the US.

President Luiz Inacio Lula da Silva is known, on Wednesday accused the billionaire who owns the platform formerly known as Twitter of using irony to downplay what she called a misogynistic hacking of her account last week. Also Read: Brazil has digital public infrastructure that India could learn from “He minimizes a serious event that doesn’t just affect me, but thousands of women on his platform every day," she said in a statement.

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