Economic Recovery

However, the improvement will not be uniform; stronger firms will likely gain market share, weaker ones may resort to originate-and-distribute business models to tide over liquidity stress

External Affairs Minister S Jaishankar on Saturday held wide-ranging talks with his Sri Lankan counterpart M U M Ali Sabry focusing on facilitating Sri Lanka's economic recovery as well boosting bilateral trade. India extended financial assistance worth around USD 4 billion to Sri Lanka, including lines of credit for purchases of food and fuel, last year when it was reeling under a severe economic crisis. New Delhi also provided guarantees to the International Monetary Fund (IMF) to help the country secure a USD 2.9 billion bailout package. "Nice to catch up FM @alisabrypc of Sri Lanka. Thank him for his #RaisinaDialogue2023 participation," Jaishankar said on Twitter. "We took stock of our cooperation that is focused on facilitating Sri Lanka's economic recovery. Discussions covered investment, trade and development partnership," he said. Sabry described the meeting as "constructive". "I met with @DrSJaishankar, Minister of External Affairs of India at Hyderabad House during my .

The Mexican economy expanded by 3 per cent in 2022, thanks to its three major productive sectors, the National Institute of Statistics and Geography said in a preliminary report

The Portuguese economy grew 6.7 per cent in 2022, its best performance since 1987, according to an estimate released by the country's National Institute of Statistics (INE)

Canada's real gross domestic product (GDP) grew 3.8 per cent in 2022, the national statistical agency announced

Industry body Assocham on Friday asked the Reserve Bank, which has hiked the key policy rate by 190 basis points since May, to moderate the interest rate hikes so that it does not have adverse impact on nascent economic recovery. Reserve Bank of India (RBI) Governor Shaktikanta Das headed six-member rate setting panel is scheduled to meet for three days from Monday to take a call on the next set of monetary policy. The central bank is scheduled to announce the decision of the Monetary Policy Committee (MPC) on December 7 (Wednesday). "At most the new rate hike should not exceed the 25-35 basis points band," Assocham said in a letter to the RBI Governor, along with highlighting other issues before the industry. One of the key recommendations advanced by the chamber to the RBI is to treat retail loans for purchase of Electric Vehicles as priority sector lending, with a concessional rate of interest. On September 30, the RBI had hiked the key policy rate (repo) by 50 basis points wit

While on the growth outlook of the next financial year FY24, he said he is optimistic on the growth story than many of global agencies forecast

Company that provides interior design solutions entering laminated boards business

The world economy will be as weak next year as it was in 2009 after the financial crisis as the conflict in Ukraine risks becoming a "forever war," the Institute of International Finance said

India will stay ahead of the curve amid the global economic slowdown and it offers a lot of potential for growth, according to multinational auto major Stellantis CEO Carlos Tavares. The country is also the best placed "superpower" that can leverage the opportunity arising out of the tension between the Western world (US and Europe) and China, he said here in an interaction. The company, which is gearing up to launch the electric version of its compact car C3 early next year, is also working on the possibility of exporting compact electric vehicles from the country to markets like Europe. "We all see that the global economy is going to slow down in 2023. That's also what all the competent administrations are predicting. They're also saying that India will be somewhere between 6 per cent and 7 per cent GDP growth. That's a lot," Tavares said. He further said, "So, if there was to be a concern, globally, ahead of the curve will be India, (with) 6 to 7 per cent growth." While reports

Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag. "Polarisation in the performance of banks to persist," S&P said, adding the return on average assets would be 'adequate' at 1 per cent. "Many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings. Similarly, we expect a mixed-bag performance for finance companies (fincos). The asset quality of these fincos is often ...

World Bank Vice President for South Asia, Martin Raiser advised Pakistan to take internal measures along with help from the international community to recover from the cataclysmic floods

The monthly economic report stated that rupee depreciated by 5.4% against the dollar in the first six months of FY23, less than the depreciation of 8.9% of six major currencies in the DXY Index

The growth in nominal terms has been steady but the sharp rise in inflation seems to have eaten into the increase

Union Finance Minister Nirmala Sitharaman said that India is setting the global benchmarks on the digital front and that it will be able to face geopolitical and economic uncertainties

Indonesian President Joko Widodo has asked the parliaments of the Group of Twenty countries to strengthen cooperation to overcome the global crisis and promote world economic recovery

The Ministers of Finance and Economic Affairs of the EU member states, meeting in Luxembourg, agreed to include energy self-sufficiency in their national recovery and resilience plans

Thailand's central bank Governor has said that the Southeast Asian country's economic recovery would remain intact despite the global economic volatility

India today is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with 'targeted' interventions: Ajay Seth

All the attention devoted to inflation slaying is muting some disturbing signs on the growth side of the equation