Economic Condition

European Union leaders grapple with banking crisis as economy weakens

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US banks, including Silicon Valley Bank, and a Swiss-orchestrated takeover of troubled lender Credit Suisse by rival UBS. The emergency actions on both sides of the Atlantic revived memories of the 2008 global financial meltdown and the ensuing EU sovereign debt crisis, which almost broke apart the euro currency now shared by 20 European countries. For the moment, we see no reason to be worried, Belgian Prime Minister Alexander De Croo told reporters on his way to the EU meeting. But we monitor it really closely, almost on a daily basis, because no one knows what can happen. The European economy has been slowing rapidly since Russia invaded Ukraine 13 months ago to the day, .

EAM Jaishankar arrives in Sri Lanka to finalise plans on debt restructuring

External Affairs Minister S Jaishankar arrived here for a much-anticipated visit to Sri Lanka to finalise a debt restructuring plan to help Colombo carve out path from its worst economic crisis

We count a lot on India's G-20 leadership: IMF MD Kristalina Georgieva

At a time when the world is faced with continued economic slowdown and social distress, the international community counts a lot on India's leadership of G-20, IMF MD said

India has become 5th largest economy in 2022: PM Modi in Mann Ki Baat

Prime Minister Narendra Modi on Sunday addressed the last Mann Ki Baat of the year 2022 and said that this year, the country had become the world's fifth largest economy

Samsung delaying Galaxy Tab S9 Series launch amid economic slowdown: Report

South Korean tech giant Samsung is reportedly delaying the launch of the next-generation Galaxy Tab S9 series due to the recent global economic uncertainty

TMSEp199: Economy's direction, hard times for fintechs, Airtel, Voda stocks

Where is the economy headed? Are tough times ahead for fintech companies? How does the near term look for Airtel, Voda Idea stocks? What is a black swan event? Find the answers here

Protests in Cuba over lack of freedom, worsening economic conditions

In a rare protest, thousands of Cubans took to the streets in various parts of the country on Sunday against lack of freedom and worsening economic conditions.

Room for rate cuts, not fiscal expansion, says RBI governor Shaktikanta Das

He was not willing to comment about the potential real interest rate of India that the central bank should fixate upon as the MPC cannot pursue multiple targets

Short-term financial condition for Q4 down by 12 pts, says report

An index mapping the countrys short term financial conditions has plunged over 12 points for the fourth quarter of the current fiscal ending March 31, as compared to the previous quarter. The CIIIBA Financial Conditions Index stood at 53.2 for the fourth quarter (Q4) of 2017-18 as against 65.3 in the October-December period. However, the External Financial Linkages index and Economic Activity Index have shown an improvement in the ongoing Q4 vis--vis the previous quarter, while there has been a compression in the cost of funds index. The index in the current January-March quarter has shown an improvement on a year-on-year basis of five points. A total of 29 banks and financial institutions participated in the survey that includes 11 public sector banks, 5 private sector banks, 2 foreign banks, 2 co-operative banks, and 9 non- banking financial companies. The total asset of the respondents are approximately Rs 68 lakh crore. Chairman of Indian Banks Association (IBA) and MD & .