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Federal Reserve is on track to tackle US inflation without pushing the country into a damaging recession, a senior official on the bank's rate-setting committee said Tuesday. After pushing its key lending rate to a 22-year high to tackle stubborn inflation, the Fed recently slowed down the pace of its hikes, citing a need to be data-dependent.

International Monetary Fund (IMF) has bumped up India's growth forecast for FY24 to 6.3% from 6.1% estimated earlier, hailing the country as one of the «growth engines in the world economy». The upward revision reflects «stronger-than-expected consumption during April-June», IMF said in the World Economic Outlook (WEO) released Tuesday. The outlook for FY25 is unchanged at 6.3%. IMF's upgrade is the latest after other forecasters including Moody's, Morgan Stanley, and Nomura raised their FY24 growth estimates for India.

The United Nations’ human rights commission of inquiry says it is investigating “war crimes committed by all sides” of the rapidly escalating violence in Israel and Gaza following Saturday’s surprise attack by Hamas militants, which has ignited fears of a bigger regional escalation.

PGIM, Prudential Financial’s investment management unit, said Tuesday that it’s lowering the fees on its target-date funds and collective investment trusts.

A summer of blackouts has emerged as a real risk of Australia’s creaking power system, increasing the likelihood of extra government intervention in a desperate bid to close the gap between the reality of the faltering energy transition and the ambition of 2030 climate targets.

U.S. Banks Asset Management Group CIO Eric Freedman joins ‘Mornings with Maria’ to discuss market activity, signs inflation is coming down and whether Americans can expect another rate hike in 2023. 

Prince Harry received a major setback as the trial in the case of his legal claim against the publishers of 'The Sun' over allegations of unlawful information gathering will not begin before January 2025. He has accused the journalists and private investigators working for News Group Newspapers (NGN), the publishers of 'The Sun' and the now-defunct 'News Of The World of targeting him.

Reserve Bank of India should continue to stay the course until inflation comes down, says Krishna Srinivasan, director of the International Monetary Fund's Asia and Pacific Department. In an interview with Deepshikha Sikarwar on the sidelines of the ongoing annual meeting in Marrakech, he said this is a time when you have to be conservative both on monetary side and fiscal side to bring inflation down durably to build fiscal buffers. Edited Excerpts: There is a new geo-political crisis confronting the world. From India's point of view, what kind of impact do you see? At this point in time, we are trying to assess the impact.

India should be able to tide over the spike in crude oil prices due to the latest conflict in Gaza, International Monetary Fund executive director KV Subramanian noted, saying that the development for the global economy meant more uncertainty. «As it is even before this particular incident there was uncertainty, one because of the high levels of debt in many economies together with elevated commodity prices because of the war in Ukraine. On top of that this adds uncertainty, which may impact, I think, the global growth, possibly, in an even more negative manner,» he told ET on the sidelines of the ongoing annual International Monetary Fund and World Bank meeting here. Crude oil prices jumped 4% soon after the conflict broke out.

Indian economy to grow at 6.5% real GDP for FY24: Finance Ministry Highlighting the capacity constraints in traditional areas of investment, Bajoria said that these sectors require a higher degree of investment, including from the government. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! In the period between 2005-10, the Indian economy had grown at an average of around 8 percent.

MUMBAI : Religare Enterprises Ltd’s board has commissioned an independent valuation report as it believes that the company is worth more than the price the Burman family has offered, a person with knowledge of the development said. On 23 September, the Burman family, which controls packaged goods company Dabur Ltd, offered to acquire an additional 5.27% stake in the financial services company for ₹407 crore, leading to a mandatory open offer to buy an additional 26% stake from the public. The deal has not closed and is awaiting regulatory approval.

Bitcoin (BTC), the world's oldest and most valuable digital currency, couldn't climb above $28,000 recently. 

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher.

(Reuters) — Federal Reserve Governor Christopher Waller on Tuesday reiterated the U.S. central bank's determination to bring inflation down to its 2% target, but did not comment on the economic outlook or his view on the best immediate course for monetary policy.

As we look back upon another interesting week in the market, there are a few standout matters I would like to point out.

Slatestone Wealth chief market strategist Kenny Polcari says Americans are reconsidering what the CPI report means on 'Making Money.'

MUMBAI : Indian stock markets took cues from global stock markets to recoup all their losses of the previous day, as hopes of the Israel-Hamas war remaining confined to the Gaza strip caused a softening in crude prices, which was reinforced by Israel’s TA 35 Index trading up 0.9% at 1745 at the time of writing. Dovish comments by a senior Federal Reserve official also boosted sentiment. While FIIs remained sellers of a provisional ₹1,005.49 crore, DIIs purchased shares worth ₹1,963 crore.

₹39 per kg in the past three months. Outlook on prices appears upbeat. DAM Capital Advisors warn of potential sugar shortages if sugarcane crushing is delayed past 15 November, leading to expectations of sustained higher prices.

By Jorgelina do Rosario and Alexander Villegas

Narendra Modi chaired a high-level review meeting on Tuesday to review the progress on schemes that were announced by him on Independence Day. With a special focus on welfare projects for women, PM Modi had announced making 2 crore Lakhpati 'didis' that is making 2 crore women engaged in self-help groups (SHGs) or Anganwadis Lakhpatis and empowering 15,000 women SHGs. During the meeting, he took stock of the various livelihood interventions planned to achieve this target. In his Independence Day speech, the Prime Minister announced the Centre's plan of equipping 15,000 women SHGs with drones for agriculture and related purposes. PM Modi was given an overview of the plans to implement this, ranging from training of Women SHGs to monitoring activity. The Prime Minister had also spoken about taking the number of Jan Aushadhi Stores in India to 25,000 from 10,000 currently to increase the reach of affordable medicines. In Tuesday's meeting, PM Modi reviewed the implementation strategy for this expansion. Earlier this month, PM Modi chaired another meeting to review the progress of schemes including ensuring affordable credit for poor and middle-class housing. Also in his speech, the Prime Minister mentioned ensuring solar power for households and the meeting reviewed preparations to execute the scheme.

Vivian Silver’s son was anxiously texting with his mother on Saturday morning, as Hamas gunmen closed in on her home near Israel’s Gaza border. Her last message read: “They’re inside the house.”The 74-year-old Canadian-Israeli spent her adult life campaigning for peace and human rights for Palestinians, particularly those living in impoverished Gaza.Silver is now presumed to be a prisoner, among the dozens of civilian hostages held by Hamas following the militant group’s coordinated weekend attack on Israeli soil.“This is almost surreal to think that someone who dedicated their entire life to building peace, ending the occupation, lifting the siege of Gaza, is kidnapped by Hamas,” said Ariel Dloomy, Silver’s former colleague at the Arab-Jewish Center for Equality, Empowerment and Cooperation, in an interview with Global News.Silver grew up in Winnipeg and moved to Israel in the 1970s.