New York: The US economy expanded less than projected in the first three months of 2024 as exports and consumer spending declined, according to the Commerce Department. The first quarter saw the world's largest economy rise by 1.6 percent, according to the Commerce Department data, which is slightly lower than the economists' expectations of 2.4...
Mumbai: The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank Limited to stop onboarding of new customers through its online and mobile banking with immediate effect and also barred the bank from issuing fresh credit cards. The bank shall, however, continue to provide services to its existing customers, including its credit card customers,...
Washington: The International Monetary Fund (IMF) has pegged India's growth projection to 6.8 pc this year, an increase of 0.3 pc over its January 2024 update. The IMF in its World Economic Outlook (WEO) said growth in India is projected to remain strong at 6.8 per cent in 2024 and 6.5 per cent in 2025. The...
New Delhi: With Tesla and SpaceX CEO Elon Musk confirming his first-ever India visit to meet Prime Minister Narendra Modi on April 21-22 and announce key investments in the electric vehicle (EV) space, industry experts have said that the country could grow into a considerable market for him in the foreseeable future, generating at...
A high-powered US trade delegation will visit India later this month to explore opportunities in the country's huge agribusiness sector and further promote American products among India's rising middle class. "India represents a growth economy for the US agribusinesses seeking to capture an increasing share of the household food purchases in the fifth-largest economy in...
New Delhi: Out of Gross Market borrowing of Rs 14.13 lakh crore projected in the Union budget for FY 2024-25, the government has decided to borrow Rs 7.50 lakh crore (53.08 per cent) in the first half (H1) of the year (April-Sept) through dated securities, the Finance Ministry said. As much Rs 12,000 crore of...
New Delhi: Mumbai has surpassed Beijing to emerge as Asia's new billionaire capital while India has overtaken Germany to become the third-ranked country globally with 271 billionaires, according to the latest Hurun Research Institute report. "Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year and taking it to third in...
New Delhi: Global brokerage Morgan Stanley has raised India’s GDP growth expectation to 6.8 per cent in 2025 from 6.5 per cent on continued traction in industrial and capex activity. “We raise GDP growth to 6.8 per cent YoY in FY2025, a rise of 30bps from our earlier estimate of 6.5 per cent, on continued...
New Delhi: After a JP Morgan report stated that the scope for bribery looks "highly unlikely" for the Adani Group given the high level of transparency involved in renewable energy sector in India, the Adani Group of companies said they have not received any notice from the US Department of Justice (DoJ) over any...
