Washington: US consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut. Those expectations were further bolstered by other data showing retail sales were unexpectedly flat last month as inflation-weary...
New Delhi: There is a high possibility of India's economic growth touching 8 per cent in 2023-24, government's Chief Economic Adviser (CEA) V Anantha Nageswaran said. Speaking at an event here, the CEA said that he expected a 7 per cent GDP growth rate for 2024-25 and it was important to maintain it. He also said...
New York: Inflation will climb higher if the US economy doesn't reindustrialize its economy, according to investment manager Richard Bernstein. Bernstein, who founded Richard Bernstein Advisors LLC (RBA) in 2009, pointed to the US's "massive" trade deficit, with the difference between imports and exports clocking in at $773.4 billion last year, according to the Commerce...
Mumbai: India’s gold demand rose to 136.6 tons in the January-March quarter which represents an 8 per cent increase over the same quarter of the previous year, according to figures released by the World Gold Council (WGC). Gold purchases have increased despite rising prices, reflecting higher incomes in a growing economy, according to market analysts. Out...
New Delhi: In the increasingly contentious world of family business splits, the peaceful division of the 127-year-old Godrej empire worth $5.7 billion is a rare occurrence. According to the company, Adi Godrej, who is head of the family and his brother Nadir Godrej, will retain control of the five listed companies of the Godrej Group. "Godrej...
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...
