World economy
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
UK weighs changes in law to prevent takeover of the Telegraph by UAE-backed group
12 Mar 2024
The British government is reported to be weighing legislative remedies to the possible takeover of the Telegraph Media Group by UAE-backed investor RedBird IMI, amidst political and professional opposition to the change of guard.
Russia, China plan to counter dollar dominance with BRICS payment system
07 Mar 2024
Russia and China have proposed the setting up of an independent BRICS payment system using digital and blockchain technologies, in a move to end the dominance of US dollar in global payments.
Japanese economy shrinks to fourth spot, slipping behind Germany
16 Feb 2024
Japan’s economy unexpectedly fell from its ranking as the world’s third largest economy, slipping behind Germany to rank as the fourth largest following a recession that stared in the second quarter of 2023
Hong Kong court orders liquidation of fallen Chinese real estate giant Evergrande
29 Jan 2024
A Hong Kong court has ordered the liquidation of Chinese property developer Evergrande, the country’s second largest by sales, raising the prospect of burying a $300 debt pile of the embattled group.
ECB keeps policy interest rates unchanged; points to slowing inflation
27 Jan 2024
The European Central Bank (ECB) on Thursday decided to leave its policy interest rates untouched, following its assessment of a declining trend in inflation rate.
Canada announces major reduction in international student offtake
23 Jan 2024
Canada’s immigration minister Marc Miller on Monday announced plans for a reduction in international student admissions to Canadian educational institutions for the next two years.
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Earthquake of 7.6 magnitude strikes Japan, but tsunami threat passes off
02 Jan 2024
A massive earthquake with a magnitude of 7.6 hit the Ishikawa prefecture in central Japan, triggering around 1 metre high tsunami waves in parts of Japan’s west coast along the Sea of Japan.
EU Council to lift air and sea travel curbs on Romanians, Bulgarians
31 Dec 2023
Member countries of the European Union (EU) have unanimously agreed to lift all air and maritime border controls with Bulgaria and Romania, commencing 31 March 2024.
RBC gets govt nod for $10 bn acquisition of HSBC Canada
23 Dec 2023
The Canadian government on Thursday granted approval for Royal Bank of Canada’s C$13.50 billion ($10.20 billion) acquisition of the Canadian assets of HSBC (HSBC Canada)
US Fed keeps policy rate unchanged at 5.25-5.50%
15 Dec 2023
The US Federal Reserve has decided to keep policy interest rate unchanged for a third time in succession, saying that any further tightening of financial and credit conditions will weigh on economic activity, hiring, and inflation.
Bahrain’s Investcorp looks to raise up to $548 m in yuan fund
14 Nov 2023
Encouraged by its successful share sale through an IPO, Investcorp Capital, an alternative asset manager based in Bahrain, is reported to be looking to raise 2 billion to 4 billion yuan
Greek government sells 20% stake in National Bank
13 Nov 2023
The Greek government on Tuesday announced the sale of a 20 per cent stake in National Bank of Greece (NBG).
World Bank warns Middle East conflict could trigger global commodity and oil price surge
31 Oct 2023
The World Bank has sounded the alarm, cautioning that the ongoing conflict between Israel and HAMAS in the Middle East has the potential to significantly
India, US, Brazil join to spearhead Global Biofuels Alliance
10 Sep 2023
In yet another big deal for India, which is the current president of the G20, the summit in New Delhi announced the formation of a Global Biofuels Alliance.
Brazil's president proposes common currency for BRICS nations
24 Aug 2023
The President of Brazil, Luiz Inacio Lula da Silva, popularly known as Lula, proposed the idea of establishing a common currency among the BRICS nations.
JPMorgan Chase acquires majority stake in failed First Republic Bank
06 May 2023
JPMorgan Chase has offered to protect all $92 billion of deposits - insured and uninsured - bringing its financial strength, capabilities and capital to the US banking system and First Republic
ECB raises interest rates by 25 basis points
05 May 2023
Silicon Valley Bank, sixteenth-largest US bank, collapses
11 Mar 2023
The run on the bank followed a letter sent by Silicon Valley Bank chief executive officer Greg Becker to shareholders stating that the bank had suffered a $1.8 billion loss on the sale of US treasuries and mortgage-backed securities and also outlined a plan to raise $2.25 billion to shore up capital
India, well placed to lead G20 towards `One Earth, One Family, One Future’
06 Mar 2023
“In a world facing multiple challenges and rising geopolitical tensions, India’s G20 presidency is critical — and beautifully captured in the theme: One Earth, One Family, One Future,” the IMF MD said in a blog post
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The remarkable Ratan Tata
By Kiron Kasbekar | 23 Oct 2024
One newspaper report of Ratan Tata’s passing away showed an old photo of him climbing into the cockpit of a Lockheed Martin F-16 fighter.
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
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Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
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