Employees work on a new energy vehicle (NEV) assembly line at a BYD factory in Huai’an, in China’s eastern Jiangsu province on August 26, 2024. | Photo Credit: AFP China’s manufacturing activity sank to a six-month low in August as factory gate prices tumbled and owners struggled for orders, an official survey showed on Saturday,…
Reserve Bank of India (RBI) Governor Shaktikanta Das speaks at the Global Fintech Fest (GFF) 2024, in Mumbai on Friday. | Photo Credit: ANI The slowing of India’s economic growth to a 15-month low of 6.7% in the April-June quarter was due to “lower” government spending in the wake of the enforcement of the model…
The first official gauge of the economy’s performance so far in 2024-25 pegs real GDP growth at 6.7% between April and June, a five-quarter low and below the central bank’s projection. The Reserve Bank of India (RBI), which expects a 7.2% GDP growth through 2024-25 following last year’s 8.2% surge, had revised its estimate for…
Government final consumption expenditure tanked 0.2% in Q1, while public capital expenditure spends that include projects financed by the Centre, States and central public sector firms, were 33.3% lower than a year ago. | Photo Credit: Getty Images/iStockphoto Signalling a moderation in the economy’s growth momentum, India’s real GDP rose 6.7% in the April to…
Steel and cement production also gathered momentum, rising at a three-month high rate of 7.2% and a four-month peak of 5.5%, respectively. File. | Photo Credit: K. Ananthan Output from India’s eight core sectors grew 6.1% in July, rebounding from a blip in June when growth had slid to a five-month low of 5.1%, as…
Talks to sell majority stakes in two Indian banks have attracted interest from foreign peers in Japan and the Middle East betting on a fast-growing economy, but tighter regulations and valuation concerns could curb their appetite, analysts and sources say. The rare opportunity for foreign banks to take controlling stakes in a market dominated by…
Bright spot: Asia’s semiconductor firms benefit from the boom in generative artificial intelligence. | Photo Credit: Reuters A key Asia stock index has gained its biggest lift in earnings projections in more than three years, as the region’s semiconductor firms benefit from the boom in generative artificial intelligence. Also helped by robust second-quarter results across…
The Securities and Exchange Board of India (SEBI) has proposed mandating Qualified Stock Brokers (QSBs) to offer the facility of trading in the secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility. Per UPI block facility, clients can trade in the secondary market based on blocked funds in their…
Labourers aided by the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), work at a construction site on the outskirts of Amritsar on July 23. | Photo Credit: AFP The story so far: Women-led development remains at the core of announcements made by the Finance Minister (FM) in this year’s Budget. This commitment to women…
A farm labourer holds rice sapling as he prepares to plant them in a field on the outskirts of Ahmedabad. File | Photo Credit: Reuters Above-normal rainfall due to delayed withdrawal of the monsoon could damage India’s summer-sown crops like rice, cotton, soybean, corn, and pulses that are harvested from mid-September. The southwest monsoon is…
