Economy
Economy News
Know how India remains the fastest growing economy in world with GDP at 6.1% in Q4 FY23
According to the data released on Wednesday, India saw a growth of 6.1 per cent between January and March (Q4) while Indonesia, the second to follow, grew 4.8 per cent. Countries like China, Mexico, US and Japan grew by 4.5 per cent, 3.8 per cent, 1.6 per cent and 1.3 per cent respectively
Explained: How a US debt default will affect everyday Americans
If the US treasury hits the debt ceiling and prioritises debt repayments, it will be forced to halt spending on federal programmes such as social security, Medicare, and Medicaid, which offer critical financial assistance to tens of millions of Americans
Explained: How a US debt default would affect the global economy
The repercussions of a first-ever default on the US federal debt would quickly reverberate around the world. Experts say that 'no corner of the global economy would be spared'
India scraps the Rs 2000 note: Will this affect the economy?
The Rs 2000 note will remain legal tender but citizens have been asked to deposit or exchange these notes by 30 September. Analysts say this time the move is expected to be less disruptive as a lower value of notes is being withdrawn over a longer period of time
Pakistan may turn to China for bailout if IMF does not resuscitate bailout program, says report
Cash-strapped Pakistan, which is also facing political turmoil, has adopted the policy of import restrictions to manage its economy in order to avert default
India's Growth Story: Overall exports up by 14%, at $775.87 billion in 2022-2023
According to the ministry, India's overall exports in April 2023 are estimated to be at $65.02 Billion, exhibiting a positive growth of 2.00 per cent over April 2022
US ends COVID-19 health emergency today: Key figures defining the pandemic
The COVID-19 public health emergency in the United States will end in full today. More than 1.1 million people have died of the disease in the US, making it the country with the most known pandemic deaths by absolute numbers
'Kumbaya moment or economic chaos?' How the US debt limit standoff might end
House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward
Turkey's landmark elections: What’s at stake for the nation and the world?
The presidential and parliamentary elections, set for 14 May with a possible 28 May run-off, will decide not only who leads Turkey but also how it is governed, where its economy is headed, and the shape of its foreign policy
Why Republican presidential candidates are avoiding the debate on the US debt ceiling
The US government could default on its debt in less than a month if leaders do not arrive at a deal to raise the nation's $31.4 trillion debt ceiling. However, Republican politicians, such as Ron DeSantis and Donald Trump, have prioritised other controversial issues
The US economy expects a recession soon: How will we know when it begins?
The US economy grew at a 1.1 per cent annual rate last quarter, signalling that one of the most-anticipated recessions in recent US history has yet to arrive. Many economists expect it to hit as soon as the current April-June quarter
IMF urges Asian central banks to maintain monetary policy ‘tighter for longer’ to tackle inflation risks
The IMF expects growth in the Asia-Pacific region's economy at 4.6 per cent this year, up 0.3 points from its October forecast and faster than a 3.8 per cent rise in 2022
US inflation eases to lowest level in nearly two years
The government said Wednesday that consumer prices rose just 0.1% from February to March, down from 0.4% from January to February and the smallest increase since December.
China's economy showing 'strong momentum', says Premier Li Qiang
Li's speech at the Boao Forum, a high-profile meeting on China's southern Hainan island, was his first to an international conference since being appointed Beijing's number-two official in early March
Flower Power: How cherry blossoms season is a boon for Japan's economy
Hanami or cherry blossom season is more than a national obsession in Japan. It brings an influx of revellers from the world over and this year is estimated to have a positive economic impact of 615.8 billion yen (Rs 38,312 crore)
Delay in IMF deal may cause Pakistan to pause debt repayments, warns US bank
A top official source said the revival of the IMF programme will allow Islamabad to increase required dollar funding from all possible avenues, including getting rollover of upcoming China's SAFE deposits to the tune of USD 2 billion under the planned schemes
Egypt is selling citizenship: How economic turmoil has left the Arab nation desperate
To address its foreign currency shortages, Egypt is offering citizenship to foreign investors on certain conditions. The Arab country has been reeling from an economic crisis that pushed its annual inflation to 26.5 per cent in January. It is expected to rise further
Lebanon adopts 'dollarization' as currency, economy crumble
Businesses are increasingly leaning on one of the world's most reliable assets — the US dollar — as a way to cope with the worst financial crisis in its modern history
Moody’s slashes Pakistan’s credit rating to its lowest in 30 years: How this worsens the debt-ridden country’s woes
Global ratings agency Moody’s cut Pakistan’s sovereign credit rating from Caa1 to Caa3 — the lowest in three decades — saying this significantly ‘raises default risks’. This is the latest in Islamabad’s economic woes as it struggles to secure a bailout from the International Monetary Fund
Ahead of Budget, Hong Kong reckons with economic challenges, depleted reserves
Hong Kong’s deficit this year is likely to be over double the original forecasts, with the reserves expected to total about HK$800 billion, equivalent to roughly 12 months of spending, according to estimates by analysts. This marks their lowest level since 2015.