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India`s export outlook brighter as manufactured goods gain share: RBI The outlook for India’s exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November.  “In fact, India currently holds 13 per cent or a sixth of the global market share in petroleum products, attesting to rising refining capabilities and ability to meet international standards,” the report states. It is the largest ...
India`s export outlook brighter as manufactured goods gain share: RBI
India`s export outlook brighter as manufactured goods gain share: RBI
Source: IANS
2024-11-21 02:31:08 pm
Jobs are most pressing global issue: FM Sitharaman in US Jobs are the most pressing global issue, given the continued economic headwinds and rapid technological changes that are redefining the skills required for youth to enter the job market, Union Finance Minister Nirmala Sitharaman has stressed.  Speaking at the plenary lunch during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington, DC, she said the World Bank has previously conducted several studies on sectoral trends and their potential impac...
Jobs are most pressing global issue: FM Sitharaman in US
Jobs are most pressing global issue: FM Sitharaman in US
Source: IANS
2024-10-25 12:18:05 pm
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said that India wants to enhance its influence in the world as one in every six persons is Indian and the world cannot ignore India's economy. Union Minister Sitharaman said that no country, whether the US which is far away or China which is very close cannot ignore India. While participating in a panel discussion on the 'Bretton Woods Institutions at 80: Priorities for the Next Decade', organised by the Centre for Global Develop...
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
Source: IANS
2024-10-24 09:27:31 am
World Bank trims Bangladesh growth outlook to 4 per cent in fiscal 2024-25 The World Bank has lowered its 2024-25 fiscal year (July 2024-June 2025) economic growth outlook for Bangladesh mainly due to the South Asian country's political instability.  The global lender in a report titled "South Asia Development Update for October 2024" released on Thursday has forecast a 4 percent growth for Bangladesh's gross domestic product (GDP) in the current fiscal year -- down from 5.2 per cent forecast earlier. This major reduction in growth comes...
World Bank trims Bangladesh growth outlook to 4 per cent in fiscal 2024-25
World Bank trims Bangladesh growth outlook to 4 per cent in fiscal 2024-25
Source: IANS
2024-10-12 10:42:24 am
World Bank raises South Asia growth forecast to 6.4% on India demand The World Bank raised its growth forecast for South Asia to 6.4% in 2024 from an earlier estimate of 6.0%, citing the strength of domestic demand in India and quicker recoveries in crisis-hit countries such as Sri Lanka and Pakistan. India's economic growth forecast for the current fiscal year, ending in March 2025, was revised to 7% year-on-year, up from April's estimate of 6.6%, helped by a rebound in agricultural output and increased private consumption. "You have an eme...
World Bank raises South Asia growth forecast to 6.4% on India demand
World Bank raises South Asia growth forecast to 6.4% on India demand
Source: Reuters
2024-10-10 12:27:03 pm
World Bank signs additional 200 million USD to support Sri Lanka`s economic reforms The World Bank and the Sri Lankan government signed on Monday for an additional 200 million U.S. dollars for economic reforms in the country, according to a statement from the World Bank.  The World Bank said it signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for 200 million dollars, which aims to support reforms that improve economic governance, enhance growth and competitiveness, and protect the poor and vulnerable, helping...
World Bank signs additional 200 million USD to support Sri Lanka`s economic reforms
World Bank signs additional 200 million USD to support Sri Lanka`s economic reforms
Source: IANS
2024-10-08 09:05:02 am
`Indian era` is here despite huge global uncertainty: PM Narendra Modi In the midst of a huge global uncertainty, the "Indian Era" is here which shows that trust in Bharat today is unique, and demonstrates that the nation's self-confidence is exceptional, Prime Minister Narendra Modi said on Friday.  Addressing the third ‘Kautilya Economic Conclave 2024’ here, PM Modi said that this event is being held at a time when two major regions of the world are in a state of war. "These regions are crucial for the global economy, ...
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
Source: IANS
2024-10-05 09:29:42 am
PM Narendra Modi to address Kautilya Economic Conclave on Friday Prime Minister Narendra Modi will deliver an address on Friday on the opening day of the three-day Kautilya Economic Conclave, which will feature nearly 150 Indian and international academicians and policymakers discussing issues faced by India and other countries of the Global South.  The conclave, being organised by the Institute of Economic Growth in partnership with the Ministry of Finance, will be inaugurated by Finance Minister Nirmala Sitharaman and Prime Minister Modi will par...
PM Narendra Modi to address Kautilya Economic Conclave on Friday
PM Narendra Modi to address Kautilya Economic Conclave on Friday
Source: IANS
2024-10-04 09:21:27 am
India jumps 79 positions in World bank`s Ease of doing business Index: Amitabh Kant Applauding the Insolvency and Bankruptcy Board of India (IBBI) for the noteworthy achievements of the Insolvency and Bankruptcy Code (IBC) in the short span of 8 years, India's G20 Sherpa and Former CEO of NITI Aayog Amitabh Kant has highlighted that India's global ranking in World Bank’s Ease of Doing Business Index improved significantly, jumping 79 positions from 142 in 2014 to 63 in 2016, thanks to the transformative framework established by the IBC. Kant characterized th...
India jumps 79 positions in World bank`s Ease of doing business Index: Amitabh Kant
India jumps 79 positions in World bank`s Ease of doing business Index: Amitabh Kant
Source: Accord Fintech
2024-10-03 02:41:00 pm
World Bank expects 5.1 pc growth for Nepal The World Bank on Wednesday projected a growth of 5.1 per cent for Nepal in the current 2024-25 fiscal year starting in mid-July, below the Nepali government's 6 per cent target.  Growing tourist arrivals, more hydropower generation and expected growth in paddy production shall contribute more to Nepal's gross domestic product, the bank said in its Nepal Development Update report. The South Asian country achieved a growth of 3.9 per cent in 2023-24, noted the international ...
World Bank expects 5.1 pc growth for Nepal
World Bank expects 5.1 pc growth for Nepal
Source: IANS
2024-10-02 05:24:58 pm
Nigeria secures fresh $1.57 billion loan from World Bank Nigeria has freshly secured up to $1.57 billion in financing from the World Bank to strengthen human capital through better health for women, children, and adolescents while building resilience to the effects of climate change.   The new loan includes some $500 million to address the governance issues that constrain education and health, $570 million to strengthen primary health care, and another $500 million for the Sustainable Power and Irrigation for Nigeria (SPIN) project, Ndiame ...
Nigeria secures fresh $1.57 billion loan from World Bank
Nigeria secures fresh $1.57 billion loan from World Bank
Source: IANS
2024-10-01 12:23:46 pm
Uzbek President highlights priorities for expanding partnership with World Bank Uzbek President Shavkat Mirziyoyev met with Antonella Bassani, Vice President of the Europe and Central Asia Region at the World Bank, highlighting the priorities for expanding partnership, the President's press service reported.  The report discussed issues regarding the further expansion of strategic cooperation with the World Bank Group and support from the leading international financial institution for the reform program in Uzbekistan, according to Xinhua news agency. It w...
Uzbek President highlights priorities for expanding partnership with World Bank
Uzbek President highlights priorities for expanding partnership with World Bank
Source: IANS
2024-10-01 11:20:44 am
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani It is now well established that by the end of this decade, India is set to be the world’s third-largest economy under Prime Minister Narendra Modi-led government’s third term, Gautam Adani, the Chairman of the Adani Group, said here on Thursday.  In his address at the city’s Jai Hind College on the occasion of Teachers’ Day, Gautam Adani said that India is also positioned to consolidate the several groundbreaking initiatives launched by the government and conti...
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani
Source: IANS
2024-09-06 09:48:09 am
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI The Global Trade Research Initiative (GTRI) Founder Ajay Srivastava has said that the World Bank's suggestion for India to reconsider joining RCEP (Regional Comprehensive Economic Partnership) is based on flawed assumptions and outdated projections. He said for developing countries like India, policy decisions must be rooted in real-world data and a thorough understanding of the long-term implications.  GTRI Founder said India pulled out of the RCEP in 2019 after entering negotiat...
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI
Source: IANS
2024-09-05 11:39:58 am
Global firms trusting India’s growth story to double down on investments: PHDCCI Global companies, including from Singapore, which are keen to double down on their investments are now further relying on India and trusting its robust growth story, the PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.  Speaking to IANS, Dr SP Sharma, Chief Economist and Deputy Secretary General of PHDCCI, said that India is a very resilient economy that will continue to grow rapidly in the future. He reacted after global real asset manager CapitaLand Investment Lim...
Global firms trusting India’s growth story to double down on investments: PHDCCI
Global firms trusting India’s growth story to double down on investments: PHDCCI
Source: IANS
2024-09-05 09:26:07 am
Indian economy remains resilient despite uncertainties at global front: Industry  With the World Bank revising India’s growth outlook from previous forecast of 6.6 per cent to 7 per cent in the current fiscal, industry leaders said on Tuesday that the country is continuously increasing its resilience despite many uncertainties at the global front.  According to the World Bank, the Indian economy continues to grow at a healthy pace and the country's medium-term outlook remains positive. “India’s growth forecast at 7 per cent in 2024-25...
Indian economy remains resilient despite uncertainties at global front: Industry
Indian economy remains resilient despite uncertainties at global front: Industry
Source: IANS
2024-09-04 09:13:27 am
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank The World Bank in its latest ‘India Development Update: India’s Trade Opportunities in a Changing Global Context’ has said that the Indian economy continues to grow at a healthy pace despite challenging global conditions. But to reach its $1 trillion merchandise exports goal by 2030, India needs to diversify its export basket and leverage global value chains. As per the India Development Update, India remained the fastest-growing major economy and grew at a rapid clip of ...
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank
Source: Accord Fintech
2024-09-03 01:44:50 pm
India`s June qtr GDP growth likely slowed on reduced government spending  India's economic growth is expected to have slowed in the April-June quarter due to reduced government spending during the national elections and stalling consumption. A Reuters poll of 52 economists projected GDP growth of 6.9% year-on-year for the three months through June, the first quarter of India's 2024/25 fiscal year. That is below the central bank's estimate of 7.1% and the 7.8% growth rate of the previous quarter. If the projection holds, India will remain the...
India`s June qtr GDP growth likely slowed on reduced government spending
India`s June qtr GDP growth likely slowed on reduced government spending
Source: Reuters
2024-08-30 09:02:33 am
Rising Government capex fuelling surge in India`s physical & digital infra The Union Government has enhanced its capital expenditure on infrastructure projects such as roads, railways and airports from Rs 1.97 lakh crore (1.6 per cent of GDP) in FY2014-15 to Rs 11.1 lakh crore (3.4 per cent of GDP) in FY2024-25, according to credit rating agency Moody's report.  Consequently, India's infrastructure development has seen unprecedented progress over the past decade, driven by substantial capital spending from both government and private sectors. This tr...
Rising Government capex fuelling surge in India`s physical & digital infra
Rising Government capex fuelling surge in India`s physical & digital infra
Source: IANS
2024-08-28 01:44:42 pm
Vietnam`s economy to expand 6.1 per cent in 2024: World Bank  Vietnam's economy is forecast to grow 6.1 per cent in 2024 and 6.5 per cent in both 2025 and 2026, up from 5 per cent in 2023, the World Bank said on Monday.  The Southeast Asian country's economic growth is expected to pick up in 2024, driven by a rebound in manufactured exports and tourism and recovering consumption and business investment, Vietnam News Agency cited the bank's latest Talking Stock report. The development of capital markets will provide a vital s...
Vietnam`s economy to expand 6.1 per cent in 2024: World Bank
Vietnam`s economy to expand 6.1 per cent in 2024: World Bank
Source: IANS
2024-08-27 09:32:11 am
At 88, ace investor Mark Mobius plans to launch new fund in January next year As he turned 88, ace investor Mark Mobius has announced to launch a new fund in January next year, in a rapidly-changing financial landscape where innovation presents unprecedented opportunities.  Mobius reflected on his journey as a fund manager, which began in his 50s, in a blog post. “Looking back on my life as a fund manager, I realise I’ve made a lot of mistakes. But I’m glad I made them and that I’ve learned from them,” he wrote. Mobius, who i...
At 88, ace investor Mark Mobius plans to launch new fund in January next year
At 88, ace investor Mark Mobius plans to launch new fund in January next year
Source: IANS
2024-08-24 01:51:29 pm
Blackstone-owned gemstone certification firm IGI files for $477 million IPO Blackstone-owned International Gemmological Institute (IGI) filed draft papers for an initial public offering worth up to 40 billion rupees (about $477 million), to capitalise on the booming demand for lab-grown diamonds in India amid a red-hot IPO market. IGI, which grades diamonds, gemstones and jewellery, said it will issue new shares worth up to 12.5 billion rupees, whereas Blackstone will sell shares worth up to 27.5 billion rupees. India along with China and the U.S. contribute to...
Blackstone-owned gemstone certification firm IGI files for $477 million IPO
Blackstone-owned gemstone certification firm IGI files for $477 million IPO
Source: Reuters
2024-08-23 09:25:37 am
India’s target of $55 trillion economy is ambitious but achievable: IMF official India’s economy is projected to grow to $55 trillion by 2047 if the country is able to register an average real growth rate of 8 per cent in the coming years which is an ambitious but achievable target, IMF executive director Krishnamurthy V Subramanian has said. Speaking at a media event here, he said that 8 per cent is achievable, given the country’s demographics and Government policies that have been implemented to drive up the growth rate over the past 10 years like the pub...
India’s target of $55 trillion economy is ambitious but achievable: IMF official
India’s target of $55 trillion economy is ambitious but achievable: IMF official
Source: IANS
2024-08-21 11:57:24 am
CM Eknath Shinde directs MITRA to focus on taking Maha towards $1 trillion economy  Chief Minister Eknath Shinde directed the Maharashtra Institution for Transformation (MITRA) on Monday to work on taking the state towards making it a $1 trillion economy. “MITRA should support the environment, green energy manufacturing, education, agriculture, health and infrastructure and follow the state government in pursuing the goal of Maharashtra becoming a $1 trillion economy,” the Chief Minister said while chairing the board meeting of MITRA, which is a think ta...
CM Eknath Shinde directs MITRA to focus on taking Maha towards $1 trillion economy
CM Eknath Shinde directs MITRA to focus on taking Maha towards $1 trillion economy
Source: IANS
2024-08-12 05:13:43 pm
World Bank V-P Sangbu Kim vows to lessen global digital divide Sangbu Kim, the newly appointed Vice-President for digital transformation at the World Bank, pledged Tuesday to address the digital divide between developed and developing nations, highlighting the role of digital technology in poverty reduction. "The World Bank has been pushing ahead with many initiatives aimed at getting rid of poverty on Earth, and digital technology is being discussed as a very important topic," Kim told reporters in a press conference, Yonhap news agency rep...
World Bank V-P Sangbu Kim vows to lessen global digital divide
World Bank V-P Sangbu Kim vows to lessen global digital divide
Source: IANS
2024-08-06 04:06:37 pm
World Bank pledges $100 million to digitise Zambia The World Bank pledged $100 million to help Zambia speed up its digital infrastructure and increase access to the internet.  Managing Director and World Bank Group Chief Administrative Officer Zhang Wencai said the support will come through the Digital Zambia Acceleration Project to be financed under the International Development Association, Xinhua news agency reported. During a courtesy call on Zambian Minister of Technology and Science Felix Mutati, Zhang said the project is ali...
World Bank pledges $100 million to digitise Zambia
World Bank pledges $100 million to digitise Zambia
Source: IANS
2024-07-20 02:52:55 pm
World Bank classifies Mongolia as upper middle income country Mongolia has been reclassified by the World Bank from a lower-middle income country to an upper-middle income country for the 2024 fiscal year, announced the country's Finance Ministry on Wednesday.  This marks Mongolia's first inclusion in the upper-middle-income category since 2014, according to a ministry statement, reported Xinhua news agency. The World Bank Group categorises the world's economies into four groups by income level: low, lower middle, upper middle, an...
World Bank classifies Mongolia as upper middle income country
World Bank classifies Mongolia as upper middle income country
Source: IANS
2024-07-03 05:51:51 pm
World Bank approves $650 mn to help Bangladesh develop Bay Terminal The World Bank approved $650 million to help Bangladesh invest in infrastructure critical for developing the Bay Terminal deep seaport, a mega project in the country's southeastern Chattogram region.  The Bay Terminal would significantly improve Bangladesh's global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilising private investment, said the lender on Friday. The government has planned to develop two container...
World Bank approves $650 mn to help Bangladesh develop Bay Terminal
World Bank approves $650 mn to help Bangladesh develop Bay Terminal
Source: IANS
2024-06-30 12:44:43 pm
Government launches eSankhyiki data portal to mark India`s Statistics Day The Ministry of Statistics and Programme Implementation (MOSPI) on Saturday launched an eSankhyiki portal with the objective of establishing a comprehensive data management and sharing system for ease of dissemination of official statistics in the country.    The portal (https://esankhyiki.mospi.gov.in)  aims to provide timely inputs for planners, policy-makers, researchers and the public at large. The eSankhyiki Portal has two sections facilitating easy access and re-use of...
Government launches eSankhyiki data portal to mark India`s Statistics Day
Government launches eSankhyiki data portal to mark India`s Statistics Day
Source: IANS
2024-06-30 09:34:15 am
World Bank approves $750 mn loan to boost Philippine`s economy The World Bank said that it has approved a $750 million loan to strengthen the Philippine economy's recovery. The Philippines Second Sustainable Recovery Development Policy Loan supports reforms that increase investment in public service sectors, attract private investment in public infrastructure, particularly in domestic shipping, promote renewable energy, protect the environment and improve climate resilience, reports Xinhua news agency. World Bank Senior Economist Ralph van Door...
World Bank approves $750 mn loan to boost Philippine`s economy
World Bank approves $750 mn loan to boost Philippine`s economy
Source: IANS
2024-06-29 03:05:36 pm
WB approves $1.5 bn more to aid India`s low-carbon emission reforms The World Bank on Saturday approved $1.5 billion in financing for a second operation to help India — which is the fastest-growing large economy in the world — accelerate the development of low-carbon energy.  The second ‘Low-Carbon Energy Programmatic Development Policy Operation’ will support reforms to boost the production of green hydrogen and electrolysers, critical technology needed for green hydrogen production. This operation is aligned with the gover...
WB approves $1.5 bn more to aid India`s low-carbon emission reforms
WB approves $1.5 bn more to aid India`s low-carbon emission reforms
Source: IANS
2024-06-29 11:29:59 am
Maha Budget: Ahead of Assembly polls, government announces freebies & sops worth over Rs 1 lakh cr Months before the Assembly elections, Maharashtra Deputy Chief Minister Ajit Pawar, who also holds the finance and planning portfolios, presented a full budget for 2024-25 in the state Assembly on Friday with freebies and sops worth over Rs 1 lakh crore.  Pawar announced the 'Mukhyamantri Majhi Ladki Bahin Yojana' with a monthly aid of Rs 1,500 to eligible women between 21 and 60 years of age with an annual outgo of Rs 46,600 crore. In a bid to lure the farmers of the state...
Maha Budget: Ahead of Assembly polls, government announces freebies & sops worth over Rs 1 lakh cr
Maha Budget: Ahead of Assembly polls, government announces freebies & sops worth over Rs 1 lakh cr
Source: IANS
2024-06-29 09:25:26 am
World Bank approves $150 mn to improve primary healthcare in Sri Lanka The World Bank's Board of Executive Directors has approved $150 million in financing for Sri Lanka to improve the quality and utilisation of its primary healthcare services, according to a statement.   The World Bank on Monday said the project would help improve the quality of care and increase the use of primary medical care institutions, which provide essential health services to local communities, reports Xinhua news agency. Capacity challenges and the absence of a formal...
World Bank approves $150 mn to improve primary healthcare in Sri Lanka
World Bank approves $150 mn to improve primary healthcare in Sri Lanka
Source: IANS
2024-06-25 03:05:29 pm
Bangladesh to receive $900 mn World Bank financing for sustainable growth The World Bank's Board of Executive Directors has approved two projects totalling $900 million to help Bangladesh strengthen fiscal and financial sector policies and improve urban infrastructure and management to ensure sustainable and climate-resilient growth.  "Decisive reforms will help Bangladesh sustain growth and strengthen resilience to climate change and other shocks," Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan, was quoted as saying in ...
Bangladesh to receive $900 mn World Bank financing for sustainable growth
Bangladesh to receive $900 mn World Bank financing for sustainable growth
Source: IANS
2024-06-22 05:25:43 pm
4 Adani ports make it to World Bank's global 'Container Port Performance Index' Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said four of its ports have been featured in the prestigious 'Container Port Performance (CPP) Index 2023', developed by the World Bank and S&P Global Market Intelligence.   While Mundra port was ranked 27th, Kattupalli came in at number 57th, Hazira at 68th, and Krishnapatnam at 71th in the Top 100 list. "It reaffirms our position as a key player in the global container port industry. This accompli...
4 Adani ports make it to World Bank's global 'Container Port Performance Index'
4 Adani ports make it to World Bank's global 'Container Port Performance Index'
Source: IANS
2024-06-20 09:21:42 am
India to remain fastest-growing economy, to log 6.7 pc GDP growth in next 3 years: World Bank Driven by strong domestic demand, surge in investment and robust services activity, India will remain the fastest growing economy in the world, clocking a steady growth of 6.7 per cent for the next three fiscal years, the World Bank has said.  In the 'Global Economic Prospects' report, the World Bank retained its growth forecast for India at 6.6 per cent for FY25. It said that India will remain the fastest-growing of the world's largest economies, although its pace of e...
India to remain fastest-growing economy, to log 6.7 pc GDP growth in next 3 years: World Bank
India to remain fastest-growing economy, to log 6.7 pc GDP growth in next 3 years: World Bank
Source: IANS
2024-06-12 11:09:12 am
India's economy witnesses robust growth over past year despite challenging global scenario: India to World Bank India's Economic Affairs Secretary Ajay Seth to World Bank has said that despite a challenging global scenario, India's economy has shown robust growth over the past year backed by sustained consumption and investment demand. He said the gross domestic product (GDP) growth estimate for the fiscal 2023-24, which has been revised upwards from 7.3 per cent to 7.6 per cent in the second advance estimates, highlights the enduring strength and resilience of the Indian economy. India grew ab...
India's economy witnesses robust growth over past year despite challenging global scenario: India to World Bank
India's economy witnesses robust growth over past year despite challenging global scenario: India to World Bank
Source: Accord Fintech
2024-04-19 12:35:43 pm
Foreign investors turn to derivative proxies to gain exposure to Indian debt Overseas investors seeking exposure to India's debt ahead of its inclusion in global benchmark indexes are using proxy instruments such as offshore swaps as they aim to overcome the country's onerous investment regulations. Foreign investors have flocked to Indian government bonds ahead of their inclusion in the JPMorgan emerging market debt index from June, seeking to front-run the $20-25 billion from index-tracking funds that is expected to subsequently flow into the market. F...
Foreign investors turn to derivative proxies to gain exposure to Indian debt
Foreign investors turn to derivative proxies to gain exposure to Indian debt
Source: Reuters
2024-04-12 12:12:33 pm
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip The Asian Development Bank (ADB) on Thursday raised India’s GDP growth forecast for 2024-25 to 7 per cent as it expects public and private sector investment along with a gradual improvement in consumer demand to drive up the growth rate. The ADB had in December projected India’s economic growth rate at 6.7 per cent for the 2024-25 financial year. The ADB also expects India’s inflation rate to come down going ahead. "The Indian economy grew robustly in fiscal 20...
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip
Source: IANS
2024-04-11 01:46:23 pm
World Bank, South Korea to boost ties on digital ID systems for developing nations South Korea and the World Bank have agreed to enhance partnership on digital identification initiatives to share expertise and technologies related to South Korea's advanced digital ID system with developing nations, the state-run minting agency said on Thursday. During a meeting held in Seoul last week, the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) and the World Bank discussed ways of how to work together for sharing technology with and providing assistan...
World Bank, South Korea to boost ties on digital ID systems for developing nations
World Bank, South Korea to boost ties on digital ID systems for developing nations
Source: IANS
2024-04-04 03:32:27 pm
FPIs may continue to sell in India due to rising bond yields in US The rising bond yields in the US are impacting equity markets, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. The rate cut from the Fed expected in July is fading now since the labour market continues to be tight and the rising crude (Brent at $89) is feared to add to inflation further constraining the ability of the Fed to cut. Even though the Fed chief has been sounding dovish recently, the market is now less optimistic about 3 rate cuts in 2024. This will ...
FPIs may continue to sell in India due to rising bond yields in US
FPIs may continue to sell in India due to rising bond yields in US
Source: IANS
2024-04-03 01:58:31 pm
World Bank raises India`s GDP growth forecast to 7.5 pc for 2023-24 The Indian economy is projected to grow at 7.5 per cent in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2 per cent. The World Bank has raised India's economic growth forecast by 1.2 per cent to 7.5 per cent for 2023-24, on the back of robust activity in services and industry in its latest update for South Asia. The increase in the projected growth rate for the Indian economy comes following the surprise 8.4 per cent surge in the country&rs...
World Bank raises India`s GDP growth forecast to 7.5 pc for 2023-24
World Bank raises India`s GDP growth forecast to 7.5 pc for 2023-24
Source: IANS
2024-04-03 10:25:54 am
CCI okays IFC`s acquisition of Northern Arc shares The Competition Commission of India (CCI) has approved the acquisition of compulsorily convertible preference shares in Northern Arc Capital Limited by the World Bank’s International Finance Corporation (IFC). The proposed combination involves the acquisition of fully paid subscription shares in Northern Arc by the IFC. The subscription shares represent approximately 6 per cent of the total issued and paid-up share capital of Northern Arc on a fully diluted basis, along with certain ...
CCI okays IFC`s acquisition of Northern Arc shares
CCI okays IFC`s acquisition of Northern Arc shares
Source: IANS
2024-04-03 09:34:12 am
South Asia`s jobs creation lags population growth, says World Bank Job creation in South Asian economies is not keeping pace with the rise in the working age population, putting the region on a path that risks "squandering its demographic dividend", the World Bank said on Tuesday. "The danger is the demographic dividend is missed. Its squandered," Franziska Ohnsorge, World Bank Chief Economist for South Asia told Reuters. "If only they can be employed. It's a fantastic opportunity to grow but until recently employment ratio...
South Asia`s jobs creation lags population growth, says World Bank
South Asia`s jobs creation lags population growth, says World Bank
Source: Reuters
2024-04-02 01:34:34 pm
World Bank sees global growth slowing for 3rd straight year in 2024 The World Bank has forecast a bleak outlook for the global economy with growth expected to slow down for a third year in a row in 2024, according to its Global Economic Prospects report released on Tuesday. The report projects the world economic growth to come down further to 2.4 per cent in 2024, before edging up to 2.7 perc ent in 2025 -- well below the 3.1 percent average growth seen in the 2010s. After 6.2 per cent in 2021 which is attributed to a low base due to the Covid-19 pandem...
World Bank sees global growth slowing for 3rd straight year in 2024
World Bank sees global growth slowing for 3rd straight year in 2024
Source: IANS
2024-01-10 09:19:08 am
SoftBank likely sells $310 mn worth shares in IPO-bound FirstCry Japanese investment giant SoftBank has likely sold its stock worth $310 million in a second round sale in mother and child care e-commerce platform FirstCry, which is likely to file a draft paper for IPO this week. According to sources, SoftBank sold shares amounting to around Rs 630 crore this time. In total, SoftBank has sold shares worth $310 million in FirstCry in two rounds. SoftBank had invested $400 million in FirstCry at a valuation of around $900 million. According to an earlie...
SoftBank likely sells $310 mn worth shares in IPO-bound FirstCry
SoftBank likely sells $310 mn worth shares in IPO-bound FirstCry
Source: IANS
2023-12-26 11:03:18 am
World Bank chief launches PPP e-Course for beginners World Bank President Ajay Banga on Friday launched the Public-Private Partnership (PPP) Beginner’s e-Course in a significant step towards fostering collaboration between the public and private sectors in infrastructure capacity-building. Senior Finance Ministry officials, including Ajay Seth, Secretary, Department of Economic Affairs (DEA), V. Anantha Nageswaran, Chief Economic Advisor, were present on the occasion. The PPP e-course is an infrastructure-focused capacity-building p...
World Bank chief launches PPP e-Course for beginners
World Bank chief launches PPP e-Course for beginners
Source: IANS
2023-12-23 10:06:59 am
Nirmala Sitharaman, World Bank chief Banga discuss roadmap ahead on India`s G20 proposals  World Bank Group President Ajay Banga told Finance Minister Nirmala Sitharaman at a meeting here on Wednesday that the multilateral financial institution has set up a task force team to study the recommendations made by the Independent Experts Group, prepared under India's G20 Presidency. He said that the World Bank has identified eight unique global challenges to focus on in the next few years as they affect many countries and require attention. Sitharaman expressed India'...
Nirmala Sitharaman, World Bank chief Banga discuss roadmap ahead on India`s G20 proposals
Nirmala Sitharaman, World Bank chief Banga discuss roadmap ahead on India`s G20 proposals
Source: IANS
2023-12-21 10:03:25 am