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It's back to work for construction crews that are clearing land and building access roads for a $10 billion project that the Biden administration describes as an important part of the nation's transition to renewable energy

BEIJING — China's consumer isn't going to be spending big anytime soon, which means companies need to be more strategic to tap what's still a massive market, according to McKinsey.

Canada’s economy contracted in the third quarter of the year, but Statistics Canada’s revised data shows the country is still managing to avoid a technical recession.

NEW DELHI : The Indian economy shot past expectations to clock an impressive 7.6% growth in the September quarter, retaining its crown as the world’s fastest-growing major economy. That’s a major step-up from 6.3% in the corresponding period of the previous fiscal year. While manufacturing, mining and construction put up a robust show, agriculture cooled thanks to an erratic monsoon, National Statistical Office (NSO) data showed.

By Matt Tracy

real growth rate of 7.6% in the September quarter holds India in good stead to realise the projected growth rate of 6.5% in FY24, chief economic advisor (CEA) V Anantha Nageswaran said on Thursday, adding that any possible upside to the full-year forecast in the wake of the latest robust performance would be worked out. Addressing the media after the release of GDP data, Nageswaran also highlighted that tax revenue has grown at almost double the pace of nominal GDP expansion in the first half of FY24, which is unusual. This, he said, is prompting him to wonder if the nominal growth rate has been understated. It's certainly not overstated, as is the perception in certain quarters, he asserted. The nominal GDP grew 8.6% (without adjusting for inflation) in the first half of this fiscal, while the tax revenue rose 16.3%. «We will keep the (real) GDP growth estimate at 6.5% but we are more comfortable (with the projection) than before.

A collective of public and private sector banks posted the highest annual net headcount addition in the last 10 years as they hired 123,000 employees last fiscal, as per latest data released by the Reserve Bank of India. The record additions are being driven by aggressive hiring by private banks across functions such as customer interface, lending, assurance, and technology to drive their branch expansion into tier 3 and rural areas. Net headcount addition in FY23 surged 61% over FY22, boosting the total employee count 7.4% year-on-year to 1.76 million. The sector saw its highest-ever annual net addition in FY11 at 125,000, followed by 124,000 in FY12. As per an exclusive study for ET by specialist staffing firm Xpheno, the top 15 private banks added on average 350 employees each working day of 2023. «If we add the replacement hiring count, the onboards per day moves up to nearly 600 per working day,» said Kamal Karanth, co-founder, Xpheno.

Robert N. Stavins is the A.J. Meyer Professor of Energy and Economic Development at Harvard Kennedy School.

ISRO). Rajiv Chetwani, chief information security officer, ISRO, was speaking at the Bengaluru Tech Summit.

bond investments, according to a report published on Thursday. The slippage follows two years of strong asset growth, with the funds also grappling with a rise in real interest rates, according to the report by OMFIF, Official Monetary and Financial Institutions Forum. OMFIF analysed data from the annual reports of the world's 50 largest public pension funds and 50 biggest sovereign funds. It also drew on surveys and contributions from 22 global public pension funds, including Singapore's GIC and Canada's CDPQ. A net 13% of survey respondents expected to reduce their real estate and conventional government bond holdings in the next 12-24 months, with funds looking, in contrast, to add inflation-linked debt and commodities, the report said. In emerging markets, nearly 40% of surveyed funds saw India as the most attractive market.

Investors are increasing their collective bets that the Federal Reserve will soon start cutting interest rates – a bet that went into overdrive this week and ignited the strongest rally in bonds in 40 years.

Arvind Panagariya said on Thursday. India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining, and services sectors, the government data showed on Thursday. The Gross Domestic Product (GDP) expanded 6.2 per cent in the July-September period.

GDP numbers driven by a strong rebound in the manufacturing sector suggest that private capex spending is gaining steam, experts said. India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors, the government data showed on Thursday.

Former Federal Reserve Bank of St. Louis James Bullard provides insight on the state of the economy on 'The Claman Countdown.'

₹8.03 trillion, or 45% of the annual estimates of ₹17.87 trillion, according to the data released by the Controller General of Accounts on Thursday. In comparison, the fiscal deficit for April-October of the previous fiscal stood at ₹7.58 trillion, or 45.6% of the annual estimates of ₹16.61 trillion. The widening of the fiscal deficit during FY24 was due to a jump in government spending to fuel economic growth, but this was to an extent offset by higher tax receipts and an increase in non-tax revenue.

Dubai, United Arab Emirates & San Francisco, United States & New Delhi, Delhi, India – Business Wire India MIRAI JMAC, a leading advisory and consulting firm, announced the creation of MIRAI Capital Global with an initial corpus of USD 1.5 Billion in a strategic partnership with the UAE Royal Family Office (RFO) of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi.

By Nivedita Balu and Niket Nishant

The pick up in the index of eight core industries, which constitutes 40% of the index of industrial production, will likely lift IIP growth, which dipped to 5.8% in September, say experts. “IIP growth for the month would tend to be in the 6-8% range provided support comes from consumer goods where there are mixed pictures being seen in the run up to the festival season,” said Madan Sabnavis, chief economist, Bank of Baroda. Vehicle sales were up 19% in the 42-day festive season, with two-wheeler sales, an indicator of rural demand, driving growth. Two-wheelers recorded 21% growth, according to Federation of Automobile Dealers Associations (FADA). The core number further provides support to India’s growth momentum, which was reinforced by second quarter GDP data.

Winter is almost here, meaning the year's coldest temperatures aren't far off.

Historic levels of household debt are straining the finances of Canadians to the point that it will be impossible for the Bank of Canada to keep interest rates at current levels for long, according to prominent economist David Rosenberg.

At CoP-28, this year’s climate summit, governments are gathering to advance ambitious plans to transform their energy economies. But there are two big problems with this global effort. The measures in place fall short of what’s needed.