World economy this week: US jobs report, Euro inflation, China slowdown in focus
On Monday, Israel is expected to deliver one of the world’s first rate moves of 2023, extending its longest cycle of monetary tightening in decades
India exploring options for banks hit by EU oversight rule
The RBI and European Securities and Markets Authority are clashing over ESMA’s demand to join the RBI in overseeing Indian transactions
China’s economy shows increasing strain from the Covid tsunami
Although there’s no reliable data on the extent of the spread of the virus or the number of sick and dead now, it had reached every province before the end of extensive and regular testing
Race for resources: US turns on the tap to wean Africa away from China, Russia
Along with the big boys, India too is jostling for influence in this crucial continent. If the US fails to pursue its Africa policy with seriousness, it may soon find itself a marginal player here
India’s economic activity looks set to slow as resilience wanes
Although a dial measuring so-called animal spirits showed activity was steady for a fifth straight month in November, the needle was just one bad data point away from swinging to the left. Exports, a key growth lever in the past year, was among three of eight metrics that performed poorly
ECB is doubling down on rate hikes just as a recession bites
Every increase in borrowing costs, including Thursday’s half-point move, advances the fight by Frankfurt officials against rampant inflation — but also risks a higher toll on the economy
US retail sales fall after hefty gains; labour market still tight
Economists also noted that goods prices tumbled in November, which could have weighed on retail sales last month. The discounts by retailers were also probably a drag on the dollar value of sales
IDBI Bank early bid deadline extended to January 7
The government had received requests from the transaction advisor to push forward the deadline for early bids for IDBI Bank
The 24 hours of hikes that end year of fighting inflation
The US Federal Reserve on Wednesday is set to raise its key rate by 50 basis points to a range of 4 percent to 4.5 percent. A day later, the European Central Bank and the Bank of England are likely to follow with half-point moves.
Britain's booming film industry has a growth lesson for Rishi Sunak
It’s part of a broader boom across Britain’s film industry that provides both a lesson and a warning for Prime Minister Rishi Sunak’s government on how to stimulate growth
US financial conditions have eased. So far the Fed is okay with it
The Fed next week is expected to slow what's been a blistering pace of interest rate increases this year, with Powell telegraphing a half-of-a-percentage point increase in the policy rate, to a range of 4.25-4.5 percent
The worst is yet to come: The curse of high inflation
While wealthier consumers can rely on savings built up during pandemic lockdowns, others struggle to make ends meet and a growing number rely on food banks
RBI lowers GDP growth forecast for FY23 to 6.8% from 7%
The Reserve Bank monetary policy committee (MPC) today hiked the key repo rate by 35 basis points (bps) to 6.25 % in its last meeting of 2022
Scientists aim to study how aerosols impact rainfall in the Western Ghats, but it’s complicated
There are multiple studies that show natural and anthropogenic aerosols significantly increased rainfall in the Western Ghats. This is in contrast with other regions of the country where aerosols have had no impact on rainfall, according to the studies.
Tax department reduces time for taxmen to decide on refund adjustment
The time limit of 30 days made available to the assessing officers stands reduced to 21 days, the Directorate of Income Tax (Systems) said.
Just 4 countries account for 54% of remittances to India, which will hit a record this year, shows data
The World Bank estimates that remittances to India will rise 12 percent to reach $100 billion this year, with the country retaining its position as the world’s top recipient of remittances.
World-topping $100 billion in remittances head to India in 2022
Highly-skilled Indian migrants living in wealthy nations such as the US, UK, and Singapore were sending more money home, according to a World Bank report
ECB's Lagarde says inflation hasn't peaked, may surprise
Inflation in the euro zone hit a record 10.6 percent on an annualised basis last month, but economists polled by Reuters expect it to edge down to 10.4 percent in a flash reading for November due to be published this week
Rishi Sunak’s plea for patience leaves him under constant attack
The long wait for a more optimistic message will leave Sunak’s government vulnerable to attacks from his own backbenchers as well as the opposition Labour party as he leads the country through a winter of strikes, recession and soaring energy prices
US jobs report may show subtle progress, Euro Zone reels under double-digit inflation
The income and spending report for the US is forecast to indicate a softening in core inflation for October. While simmering down, the annual pace is still more than twice the central bank’s goal
Competition watchdog growing extra fangs to examine if input tax credits and lower tax are resulting in price cuts
This notification will come into force from December 1, 2022
Amitabh Kant On India's G20 Presidency & Why It's Our Biggest Growth Opportunity | India At G20
Amitabh Kant, India's G20 sherpa reveals the inside story of how India turned master-negotiator at the G20 summit in Bali this time & played an important role in finally arriving at a consensus amid an extremely tense geopolitical atmosphere. He underlines why India's upcoming G20 presidency is a huge growth opportunity for our country and how India can use this to undertake progressive measures. Also at the end, some key advice from the ace negotiator himself, on the art of negotiating and bringing people on the same page. Don't miss it!
Kashmir sees rise in saffron production; 2020 record of 13 MT likely to be broken
Farmers say production this year is roughly 25-30 percent higher than the previous years. Though the state agriculture department is yet to calculate the exact numbers, they say production is expected to break the 2020 record of 13 MT. Saffron flowers are currently sold at Rs 1.5 lakh- Rs 2.5 lakh per kg.
Negative credit conditions to make 2023 challenging for emerging markets: Moody's
Weak growth in advanced economies, persistent inflationary pressures, geopolitical tensions, as well as a subdued growth outlook for China are the reasons attributed for the negative outlook.
