Kerala Economic Situation: Economic situation in Kerala dangerous, opposition claims in Assembly

The Congress-led opposition UDF on Thursday alleged in the Kerala Assembly that the economic situation in the state was being led to a “dangerous” situation by the fiscal mismanagement of the government and staged a walkout after its motion to adjourn House proceedings and discuss the issue was rejected. Leader of Opposition (LoP) in the … Read more

nasdaq: S&P 500, Nasdaq end higher as investors eye economic path

The S&P 500 ended slightly higher on Tuesday as investors kept their focus on the growth trajectory of the U.S. economy, and the tech-heavy Nasdaq closed higher while the Dow slipped. U.S. stocks have been under relentless selling pressure this year, with the benchmark S&P 500 index recording its steepest first-half percentage drop since 1970, … Read more

Bank of England warns UK economic outlook has ‘deteriorated markedly’

The Bank of England has issued a stark warning on the financial outlook for the UK and global markets, but told financial institutions that it would be “counterproductive” to shore up their balance sheets by withholding new loans. The warning on Tuesday, contained in the BoE’s quarterly financial stability update, comes as the UK faces … Read more

Improved economic activity to support demand for steel, cement & chemicals in India: Fitch

Fitch Ratings forecast strong medium-term growth to support the demand for India’s steel, cement and chemicals sectors, with improved economic activity boosting power and petroleum product sales. The credit rating agency also said the adequate balance sheet buffers and strengthening demand should mitigate pricing and cost pressure at most … Read more

Mark Zuckerberg issues dire economic warning to Meta employees

Mark Zuckerberg has issued a chilling message to Meta Platforms Inc. employees: The company faces one of the “worst downturns that we’ve seen in recent history” that will necessitate a scaling back in hires and resources. The dire economic warning was delivered during an internal videoconference meeting on Thursday for Meta’s META 77,800 workers, according … Read more

Top headlines: ‘Capex route to economic revival’, gold import duty hike

The hike in import duty on gold is designed to dampen import demand. The basic duty hike to 12.5 per cent from 7.5 per cent also has a load of 3 per cent goods and services tax (GST). In an exclusive interview with Shrimi Choudhary and Arup Roychoudhury, Union Finance Minister … Read more

Capex is the route to economic revival, says FM Nirmala Sitharaman

The government would depend on its public capital expenditure programme to revive demand in the economy and might not go for sector-specific fiscal measures, Finance Minister Nirmala Sitharaman told Business Standard on Friday. In a wide-ranging interview, Sitharaman said the Centre would finalise the privatisation of a public sector … Read more

PSBs back on growth path as India’s economic recovery gains traction

As economic recovery gains traction, loan demand from banks started improving from the second half of the 2021-22 with credit hitting 13 per cent in June. According to the Reserve Bank of India’s Financial Stability Report (FSR), public sector banks recorded growth in industrial credit after almost three years … Read more