World economy
IMF keeps global growth rate at 3.2% for 2024 and 2025
03 Nov 2024
Global economic growth is expected to remain around 3.2 per cent in 2024 and 2025 with some minor uptick in some advanced economies
IMF sees India’s GDP growth slowing from 7% in 2024 to 6.5% in 2025
23 Oct 2024
India’s economy in terms of Gross Domestic Product (GDP) is expected to grow at a slower pace of 7 per cent in the current year, ie, 2024 against the 8.2 per cent growth recorded in 2023.
Putin pushes new cross-border payment system to end dollar dominance
21 Oct 2024
Russian President Vladimir Putin has revived hopes of pursuing the BRICS agenda of creating a new cross-border payment system that would allow nations to make financial transactions
Three economists from 2 US institutions share Nobel Prize in Economics
16 Oct 2024
The 2024 Nobel Prize for Economics has been awarded to three US economists - Daron Acemoglu and Simon Johnson, both from the Massachusetts Institute of Technology, Cambridge and James A Robinson
Nobel Peace Prize goes to Japan’s anti-nuke movement
12 Oct 2024
This year’s Nobel Price for Peace has been awarded to the Japanese organisation Nihon Hidankyo - a mass movement of atomic bomb survivors from Hiroshima and Nagasaki.
Thyssenkrupp loses appeal against EC veto on Tata Steel joint venture
07 Oct 2024
Thyssenkrupp has lost its fight against an anti-trust ruling by European Commission on its proposal for a joint venture with Tata Steel Europe
Sabadell shareholders accuse BBVA of worsening its bid with modified offer
04 Oct 2024
Shareholders of Spanish bank Banco Sabadell have accused its larger peer BBVA of “worsening” the takeover offer by announcing a modification to the original bid offer, undervaluing the bank further.
London’s Canary Warf craving for occupancy
04 Oct 2024
Canary Wharf, a part of London's central business district and once a thriving urban hub with living apartments, retail shops
France, Greece, Italy and Poland back EU proposal for anti-dumping duty on Chinese EVs
04 Oct 2024
Chinese electric vehicles are facing tariff action from the European Union, with member countries, including France, Greece
Guinea-Bissau becomes first African country to use blockchain for fiscal transparency
03 Oct 2024
Guinea-Bissau, a tiny West African nation, has made a big leap in the use of financial technology by successfully launching a blockchain platform for wage bill management
East Coast dockworkers’ strike halts half of US port operations
02 Oct 2024
Dockworkers across 36 ports in the US East Coast and the Gulf of Mexico struck work on Tuesday over dispute with employers over wages and other issues
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Shigeru Ishiba to replace Fumio Kishida as Japan’s prime minister
30 Sep 2024
Japan’s ruling Liberal Democratic Party on Friday elected Shigeru Ishiba, former defence minister, as the new prime minister of Japan, replacing Fumio Kishida.
Greece to raise around $1 billion through sale of 12% stake in National Bank
25 Sep 2024
The Greek government is expected to raise around 900 million euros ($1 billion) through sale of a 12 per cent stake in the National Bank of Greece (NBG), the country’s second-largest lender by market value.
US to ban smart car tech from China and Russia
24 Sep 2024
The US Department of Commerce has proposed a ban on smart vehicles that use Chinese or Russian technology that may put national security at risk
US Fed cuts interest rate by 50 bps to balance risks to economy
19 Sep 2024
The US Federal Reserve on Thursday announced a 50 percentage point reduction in its key interest rate in a bid to ensure that the economic goals, including employment and inflation rate roughly are in balance.
Fed chairman Jerome Powell hints at a likely US recession in 2025
02 Sep 2024
The US economy is showing signs of recession despite the healthy 3 per cent growth of GDP in the second quarter of the current year.
Laos now in China’s grip as BRI accounts for nearly half of its GDP
08 Jul 2024
Laos is within grab for China, which accounts for over half of the tiny Asian country’s accumulated external debt of $10.5 billion and no means of repaying the debt.
Global investment flows down more than 10% in 2023 UNCTAD
21 Jun 2024
Global investment flows declined by 10 per cent in 2023, even as global foreign direct investment (FDI) decreased by 2 per cent to $1.3 trillion
Spain's BBVA expanding digital banking business to Germany
20 Jun 2024
BBVA, Spain's second largest bank after Santander, which successfully rolled out its digital banking services in Italy, is planning to extend its digital services to Germany as well.
Spanish banks BBVA and Sabadell weigh $12.93 bn all-stock merger
07 May 2024
Spanish bank Sabadell on Monday said it is considering a proposal by larger peer BBVA for a Euro 12 billion ($12.93 billion) all-stock merger that would create the largest banking company in Spain.
And now, BRICS eyes creation of a central bank for currency issue
06 May 2024
China, with backing from Russia and South Africa, is planning an onslaught on the mighty dollar by introducing a new currency, to be issued by a proposed BRICS central bank that would combine the strengths of the respective currencies of the five countries in the economic forum.
US Fed keeps rates steady to tame inflation
03 May 2024
The Federal Open Market Committee (FOMC) of the US Federal Reserve at its meeting on Thursday decided to maintain the Federal funds rate at 5.25 to 5.50 per cent, for a sixth consecutive time, saying there is no scope for a rate cut until inflation rate moves towards the 2 per cent level.
TSMC to get $6.6 bn direct federal funding for Arizona chip project
11 Apr 2024
Close on the heels of US government offer of financial assistance to Intel for expansion and modernisation of its production lines in California, Taiwan Semiconductor Manufacturing Company (TSMC) also said it will receive up to $6.6 billion in direct funding from the US federal government for setting up a state-of-the-art semiconductor plant in Phoenix, its third unit in Arizona.
Dollar rises as Fed gives hope of rate cuts starting June
25 Mar 2024
The US dollar rallied against all G-10 currencies except the yen, on the back of rate hikes by several central banks while a relatively strong US economy and hoped of Fed lowering interest rates this year itself boosted carry trade.
Bank of Japan exits zero rate policy, sets interest rate at 0.1%
19 Mar 2024
The Bank of Japan (BoJ) on Thursday announced a departure from its zero rate policy, keeping the short-term target rate in the 0-0.1 per cent
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