Economy Financial News

Sri Lanka says that it has reached an agreement on key terms and principles on its debt restructuring with the Exim Bank of China

U.S. stocks are slipping as the clamps tighten on Wall Street from rising yields in the bond market

The International Monetary Fund says Middle East economies are gradually recovering as external shocks from the war in Ukraine and global inflation fade

More Americans sympathize with the striking auto workers than with the three big car companies that employ them

The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates

Billionaire investor Leon Cooperman said he remains a bear with little interest in the broader stock market, partly because it's underestimating the risk of a fiscal crisis.

(Corrects spelling of Morley (not Morely) in paragraph 5)

Washington Examiner columnist Tiana Lowe Doescher and FOX Business Lydia Hu join Making Money host Charles Payne to discuss the impact of the housing crisis on young people.

NEW DELHI : The full-year budget, to be presented in Parliament after the national elections, will likely focus on expenditure reforms and encourage businesses and individuals to shift to the new simplified and exemption-less tax regime, said Bibek Debroy, the chairperson of Prime Minister Narendra Modi’s Economic Advisory Council (EAC-PM). In an interview, Debroy said by the time the full-year budget is presented, the terms of the Sixteenth Finance Commission to decide on the sharing of the Centre’s divisible pool of taxes with states for the five years from 2026-27 will come out, indicating overall expenditure reforms needed at central and state levels. India’s economy is expected to grow in the range of 6.5-7% in the medium term, Debroy said.

NEW DELHI : India’s economy received a dual boost as retail inflation cooled in September, retreating within the central bank’s comfort zone. Simultaneously, factory output surged into double-digit growth territory in August, scaling a 14-month high, indicating an upswing in economic momentum. Consumer Price Index (CPI)-based inflation eased for the second consecutive month in September to 5.02%, aided by a slower rise in vegetable prices, official data showed on Thursday.

Civil Aviation Ministry is focused on airports undertaking adequate «fog planning» for better servicing of airlines in the northern states, a senior government official said on Thursday. Civil Aviation Secretary Vumlunmang Vualnam, said the immediate focus is to ensure that the increasing air traffic in the winter season is well serviced in the airports by the airlines. «Winter is coming.

Small finance banks such as AU, Equitas and Ujjivan, which aspire to become "universal banks" as they complete the mandatory five-year cooling off period, are now awaiting the regulator’s signal before they officially seek licence upgrades. Although these banks have almost every product in their suite for the retail customer, they would prefer to drop the ‘small bank’ tags attached to their names and be in the same league with others to win over stakeholders, particularly depositors. Some of these so-called small banks are already bigger in size than quite a few old-generation private sector lenders, while a universal bank licence would test their skills on underwriting and bandwidth to handle bigger businesses. The licensing window for universal banks is open on-tap, which means that the applications can be submitted to the regulator any time. However, as things stand now, there is no specific communication from the Reserve Bank of India (RBI) on conversion of small finance banks into a universal lender, which would allow the current set of ‘small’ lenders more flexibility in the way they do business and leverage capital. Most importantly, captains of every small bank highlighted that the ‘small’ tag is hurting them in the perception game.

For the first time in a year, the big companies in the S&P 500 may be seeing their profits grow again

U.S. consumer prices increased in September amid higher costs for rent and gasoline, but underlying inflation is slowing, supporting financial market expectations that the Federal Reserve would not raise interest rates next month.

In recent days, the Federal Reserve's messages have been anything but consistent, leaving investors in a quandary when it comes to predicting the US dollar-related currency pairs' movements. Earlier this week, a series of dovish statements from Fed members led to a dip in the probability of interest rate hikes, giving some support to the US dollar, which has been in a correction phase.

PARIS (Reuters) — France is on course for modest economic growth heading into the end of the year as lower food inflation offers consumers some relief, the INSEE official statistics agency said on Thursday.

Inflation was unchanged in September, but price pressures seem poised to continue their broad and gradual easing in coming months, according to economists.

WASHINGTON (Reuters) — U.S. consumer prices increased in September amid higher costs for rent and gasoline, but underlying inflation is slowing, supporting financial market expectations that the Federal Reserve would not raise interest rates next month.

By Balazs Koranyi and Francesco Canepa

 Federal Reserve Bank of Chicago President Austan Goolsbee provides insight on the state of the U.S. economy on 'Making Money.'

Nirmala Sitharaman on Thursday met Brazil's Minister of Economy Fernando Haddad and discussed various issues of mutual interest, including the strengthening of Multilateral Development Banks (MDBs). She also met UK Chancellor of Exchequer Jeremy Hunt and discussed Bilateral Investment Treaty among other issues.