India's manufacturing sector activity remained broadly flat in June as new orders declined for the first time in over four years and power cuts and fragile economic conditions weighed on the sector's performance, an HSBC survey said.
India and the Maldives on Friday agreed to set up a core group to further deepen their partnership as Prime Minister Narendra Modi held a 'productive' meeting with newly-elected Maldivian President Mohamed Muizzu and discussed ways to enhance the bilateral friendship across diverse sectors.
'You must have heard that Pakistan is going bankrupt or that a default or meltdown is taking place. It (default) has already taken place. We are living in a bankrupt country,' Defence minister Khawaja Asif said.
Shehbaz Sharif, the younger brother of former premier Nawaz Sharif, is expected to become Pakistan's new prime minister as the coalition of leading political parties led by them is set to comfortably cross the simple majority mark to form the next government after elections produced a split mandate.
Sri Lanka's ministry of defence on Tuesday ordered the army, air force and navy personnel to open fire on anyone looting public property or causing harm to others amidst violent protests in the island nation over the unprecedented economic crisis.
Economists have long argued that they shouldn't be expected to predict crises, such as the one that almost sank the global economy five years ago.
The response by the finance ministry and the RBI to the churning in financial markets is mature.
India is emerging Asia's canary in the 'hot money' mine.
The Economic Survey, to be tabled in Parliament on Thursday, is likely to provide an assessment of the impact of the global financial meltdown on the Indian economy and outline the strategy to spur growth and contain the mounting fiscal deficit.
Sri Lanka's embattled President Gotabaya Rajapaksa would resign on Wednesday, Parliament Speaker Mahinda Yapa Abeywardena announced late on Saturday night, hours after thousands of protesters stormed the former's official residence, blaming his government for an unprecedented economic crisis that has brought the country to its knees.
In any downturn, the turnaround comes only when investors feel asset prices have bottomed out; when consumer demand has fallen so much that it has nowhere to go but up; and when bankers feel that businesses (or those that remain) are on even keel.
The recent financial crisis and prospects of a prolonged downturn in global economic activity have once again invigorated the critiques of global financial integration and free trade.
We forget that, three months ago, the over-riding economic problem in India was inflation. So the good news is that the tide has turned.
The government thinks that it can buy peace with its own people, not by providing an environment for growth, but by bribing them into silence, writes M R Venkatesh.
During a meeting of parties convened on Sunday ahead of the Monsoon Session of Parliament, Tamil Nadu-based Dravida Munnetra Kazhagam and All India Anna Dravida Munnetra Kazhagam demanded India intervene in the neighbouring country which is facing a debilitating economic crisis.
"President of Sri Lanka Gotabaya Rajapaksa is still in the country, I made a mistake in the (BBC) interview," Speaker Abeywardena told ANI in a telephone call.
Prime Minister Modi on Saturday left for Egypt after concluding his state visit during which he held wide-ranging talks with President Joe Biden and addressed the joint session of the US Congress.
India and China will escape the downturn that other countries in the world are expected to face.
The economic situation has led to huge protests with demands for the resignation of Prime Minister Mahinda Rajapaksa and President Gotabaya Rajapaksa.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
In an interview with France24, Wickremesinghe said, "We are a neutral country, but we also emphasise the fact that we cannot allow Sri Lanka to be used as a base for any threats against India."
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
MEA xpokesperson Arindam Bagchi said India continues to closely follow the developments in Sri Lanka and that it is aware of the many challenges that the country and its people have been facing.
Sri Lanka Prime Minister Mahinda Rajapaksa's residence in the city of Kurunegala in the north-western province was set on fire on Monday, hours after the leader tendered his resignation.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
President Ranil Wickremesinghe on Wednesday thanked India and Prime Minister Narendra Modi for giving Sri Lanka 'a breath of life' by providing timely economic assistance to his country as it faced the worst economic crisis in decades.
India and China, besides some developed countries, may face economic downturn in the coming months, according to an analysis by OECD -- a grouping of mostly advanced nations.
Only 68 MPs voted in favour of the motion, it said, giving the 72-year-old President a comfortable victory.
A delegation from former president Maithripala Sirisena's Sri Lanka Freedom Party met him in the morning to press for their demand on the formation of the interim government.
With its economy battered by the devastating floods, Pakistan must make peace with India and normalise its economic ties if it wants to overcome the crisis, a noted American scholar has said.
Due to India's limited dependence on external demand and strong fiscal and monetary stimulus measures, the global economic and financial crisis had a relatively muted effect on the country, the Obama Administration told the US Congress on Thursday.
A nationwide strike, April 28, 2022, demanded the resignation of Sri Lanka President Gotabaya Rajapaksa and his cabinet, amid the country's economic crisis.
This columnist cannot pretend to be an economic expert but can certainly point out that the statistics being reeled out on a daily basis now, have added to the economic burden of the people, says Seema Mustafa.
There are a number of factors that helped India remain relatively unscathed. Some of them are to do with RBI and some of them are to do with the Indian economy.
The conclusion is derived from a Business Standard poll of CEOs, bankers, market players & economists.
.jpg)
Initiating a debate on the current economic situation in the country, Ravi Shankar Prasad of Bharatiya Janata Party slammed the government over rising prices, including that of onions, saying the common man is suffering and "crony capitalism has come to rule".
The emergency was imposed because of the mass scale protests planned for April 3 against the current economic hardships faced by the people.
Prime Minister Rishi Sunak on Wednesday held his first Cabinet meeting with the new team as he prepares for his debut at Prime Minister's Questions, the first big test of Britain's Indian-origin premier's leadership.
Europe may continue to reel from the shock of the global financial crisis, but even in these depressed circumstances Information Technology-related outsourcing remains surprisingly buoyant to the benefit of Indian firms like Tata Consultancy Services.
The Sri Lankan government on Sunday lifted the ban it had imposed on social media platforms such as WhatsApp, Twitter, Facebook and Instagram after declaring a nationwide public emergency and effecting a 36-hour curfew ahead of a planned anti-government rally over the worst economic crisis in the island nation.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances