Economy News

IMF Boosts Egypt's Economy with $820 Million Aid Amid Regional Tensions

The IMF has approved a disbursement of $820 million to strengthen Egypt's economy. This aid is part of an $8 billion loan program agreed upon in March to help Egypt deal with regional tensions. Despite Egypt's economic progress, the IMF warns of the challenging regional environment it continues to face.

Aug 27, 2024

Foreign investors pump in Rs 1 lakh crore in Indian debt market in 2024 so far

Foreign Portfolio Investors (FPI) have pumped over Rs 1 lakh crore into the Indian debt market in 2024 so far due to the country's inclusion in JP Morgan's Emerging Market Government Bond Indices

Aug 27, 2024

SEBI Issues Notices to Paytm CEO Vijay Shekhar Sharma Over Alleged IPO Irregularities

SEBI has issued notices to Paytm CEO, Vijay Shekhar Sharma, over alleged IPO irregularities. The allegations include misrepresentation of facts and non-compliance with promoter classification norms.

Aug 26, 2024

India offers UPI as a plug-and-play system to other countries to speed up cross-border payments

RBI Governor Offers UPI System for Global Adoption

India's Reserve Bank of India (RBI) Governor, Shaktikanta Das, has offered the country's Unified Payments Interface (UPI) system as a plug-and-play model for other nations.

Aug 26, 2024

US jobless claims data allays fears over economic slowdown

US Jobless Claims Rise Marginally, Fed Rate Cut Expected

US jobless claims marginally increased, easing fears of a sharp economic slowdown. The US Federal Reserve is expected to cut interest rates to stimulate economic growth. Fed Chair Jerome Powell's upcoming speech is anticipated to provide insights into future policy. The potential rate cut could boost global markets, including India's, by attracting foreign investors.

Aug 24, 2024

Indian Official Urges US for Easier Tourist Visa Process

Suman Billa calls for a more efficient US tourist visa process for Indian nationals to boost tourism. Billa also emphasizes the need for more direct flights between India and the US.

Aug 24, 2024

Chevron to invest Rs 8,300 Cr in Karnataka, hire 600 engineers by 2025

Global energy solutions leader Chevron on Friday announced to invest Rs 8,300 crore to set up its engineering and innovation centre of excellence (ENGINE) in Bengaluru.

Aug 24, 2024

US Rate Cut Fuels Optimism in Indian Stock Markets

The anticipated US rate cut is expected to boost the Indian stock market and various sectors like IT, BFSI, automotive, and real estate. The Indian markets have been on a recovery rally, influenced by positive US economic data and global cues.

Aug 24, 2024

India a bright spot, to remain fastest-growing major economy this year: Report

Despite global .macro-economic conditions, India continues to remain a bright spot and is expected to be the fastest-growing major economy this year

Aug 20, 2024

India records 26 pc jump in FDI flows in first quarter

The gross foreign direct investment (FDI) flowing into the Indian economy has surged by 26.4 per cent to $22.5 billion during the April-June quarter of the current financial year compared to the same quarter of the previous year, according to the RBI's latest monthly bulletin.

Aug 20, 2024

Global job postings up 7.3 pc in April-June; US and India markets lead

Driven by rising demand for talent in the US and India markets, the global hiring activity showed positive trends in the April-June period (Q2 2024), with job postings increasing 7.3 per cent

Aug 19, 2024

Adani Portfolio clocks 50 pc surge in net profit, stands at Rs 10,279 cr in Q1

Led by emerging businesses, including solar and wind manufacturing as well as airports and roads, the Adani Portfolio's net profit soared 50.1 per cent to Rs 10,279 crore (year-on-year) in the first quarter of this fiscal, while EBITDA reached Rs 22,570 crore -- up 32.9 per cent YoY

Aug 19, 2024