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largest metro network in the world, Union Housing and Urban Affairs Minister Manohar Lal has said, underlining that 997 kilometres of metro rail is currently under construction in the country, an official statement stated on Thursday. In his address to consultative committee members of Parliament attached to the HUA ministry on Wednesday, the minister said that the government is working relentlessly to strengthen the urban transport network across the country, the statement stated. Manohar said that urban mobility is an important aspect to tackle the rising urban population, adding that India will soon have the second largest metro network in the world. «About 993 kilometres of metro rail is operational in 23 cities across the country and about 997 kilometres is under construction in 28 cities in the country...India is well on its way to have the 2nd largest metro network of the world,» the statement quoted the minister as saying.

The vote was almost unanimous, with 11 of the 12 Federal Open Market Committee members voting in favour of the rate trim; only Beth Hammack, president of the Federal Reserve Bank of Cleveland cast her vote in favour of maintaining current interest rates. However, cautious rhetoric from Fed chair Jerome Powell caused Treasuries to topple and the US dollar to soar.  «As for additional cuts, we are going to be looking for further progress on inflation as well as continued strength in the labour market,» said Powell, emphasising that the FOMC will remain data-driven into 2025.  Powell ...

Subscribe to enjoy similar stories. Mumbai: A stone’s throw away from a Pradhan Mantri Jan Aushadhi Kendra in suburban Mumbai stands another pharmacy, called ‘Mumbai Jan Aushadhi’. Its walls are lined with branded generics—copies of once-patented drugs that are now sold and marketed by pharma companies.

Geothermal energy startups are on the upswing with big tech companies looking to feed their power-intensive AI data centres, but long-term investments remain uncertain as oil majors double down on natural gas. Meta and Alphabet's Google are among the tech companies partnering with startups proposing to produce geothermal electricity, to power their data centres. Large data centre operators are also racing to meet the energy needs of artificial intelligence, accelerating a range of clean technologies in the process.

Subscribe to enjoy similar stories. The global economic landscape is becoming increasingly interlinked and dynamic. Despite multiple shifts, 2023 saw global merchandise exports worth over $24 trillion, an increase of 6% over 2019, demonstrating resilience in the face of disruptions.

Subscribe to enjoy similar stories. GARY, Ind.—In a meeting room facing U.S. Steel’s century-old plant, Takahiro Mori offered his vision for the plant’s next chapter under a new owner.

Hemang Jani, Independent Market Expert, says realty stocks have run up quite a lot. Once there is a bit of a lull in terms of the new project launches or the sales that they are doing, the market could react a bit negatively because it is a high beta sector. So, for momentum play, quarterly numbers play, Jani would be positive on Lodha and DLF, but he is not comfortable buying them from an investment perspective. Jani also says he would stay away from Tata Motors and if he has to bet, he would go with M&M which looks to be a much better, cleaner bet at this point of time. This has been a year of consolidation for the cement sector. At the end of 2024, there are fewer players than there were at the start of 2024. But the issue is that a lot of other segments also have not played well with the cement sector, especially on the pricing front. Hemang Jani: The sector has been going through a slowdown and despite the consolidation with two major players commanding about 75-80% of the capacity, when you look at the operating performance it has not been the best that one can really expect, but there is a sense that following a pickup in infra and the government spending and the rural side recovery, we might see good growth coming back.

Global battery maker CATL says it will expand its electric vehicle battery swapping in China in 2025

For more than a decade, farmers in parts of southwest Georgia haven’t been able to drill new irrigation wells to the Floridian aquifer

«For instance, if he starts cutting taxes, we may well find ourselves in a situation where the bond market falls and we could end up with the bond vigilantes having a go at bond markets,» says Richard Harris, Port Shelter Investment. I wanted to begin by discussing the implications the hawkish stance will have on the emerging markets because dollar has strengthen now to 108 levels. There is again a flow expectation which is expected to reverse back into treasury or US equities at the most. What do you make of the implications on the other asset classes at this point of time? Richard Harris: Well, at the moment the dollar is on a tear and that is going to affect other asset classes. Traditionally emerging markets are expected to do worse with a stronger dollar and that is mainly for monetary systems because of course if they are exporting to the US, it should actually make things better. But the prevailing narrative is that a stronger dollar is less likely to be positive for emerging markets and at the moment with the way that we have seen the Fed going in the last few hours, it is likely that interest rates are going to stay higher than people think and the dollar will stay higher than people think.

Donald Trump administration, multiple people familiar with the matter told ET. “Ministries and departments are examining various scenarios, apprehending such a move by the US and possible remedies,” one of the persons said. President-elect Trump on Tuesday had said the US will impose reciprocal tariffs on Indian goods because New Delhi imposes high tariffs on American goods. Independent experts said India could relook at import duty on specific products and enhance market access for certain imports from the US to address Trump’s concerns.

Heritage Research fellow and economist EJ Antoni joins ‘The Big Money Show’ to discuss reports the Federal Reserve is likely to cut rates for the third time this year.

Regarding our current predicament with our neighbours on the continent, I realize it risks a rebuke from Elon Musk to say so but if Americans had elected Kamala Harris last month, we would not currently be in a national panic about access to the U.S. market, and no one within 100 miles of the White House would be making sophomoric jokes about “Governor Justin Trudeau” of the “Great State of Canada.”

It’s not every day, or even every decade, that a big foreign bank decides to have a go at Canada’s retail banking market.

The U.S. market gained more than 25% for the year to date through mid-December 2024

Indian firms sought to raise $5.5 billion from the overseas market in October through the external commercial borrowing (ECB) and foreign currency convertible bond (FCCB) route, the latest RBI data shows. ECB registrations through combined automatic and approval route in October was higher sequentially from $4.8 billion in September as well as year on year basis from $765 million last October.

The owner of Britain’s Guardian newspaper has confirmed that it has sold the Observer, the world’s oldest Sunday newspaper to Tortoise Media for an undisclosed fee

It’s been a strange few years for ESG specialists in investment banking.  As recently as 2021 it was one of the hottest recruitment segments, with $500k roles going unfilled.  Any banker who had driven past a wind turbine on the way to the airport, or walked past a casino while a Pride event was taking place was reinventing him or herself as an ESG expert, to the extent that the regulators had to put out formal warnings against “ competencewashing ”.

In case you hadn’t heard, 2025 is shaping up to be a good year for investment bankers. It’s not just rhetoric, either – they’re putting their money where their mouth is and hiring in anticipation of it, too.

Ex-Credit Suisse people have turned up in a lot of places since their house burned down, but Santander has rescued more than most. By our reckoning, the Spanish bank added over Credit Suisse bankers last year. Most, but not are all, were ex-Credit Suisse managing directors in the US. Many were CS veterans, who spent tens of years at the firm. They included David Miller, the former head of Credit Suisse's investment bank, who joined in the US last November.