Since the start of the century, India have made it to two finals and two semis in five ODI World Cups but have just ONE title to show for. It's high time to end that barren run!
The United Nations on Wednesday pared down India's growth forecast by 20 basis points to 5.8 per cent for 2023 calendar year, citing higher interest rates and risks of recession in the developed world weighing on investment and exports. "Economic growth in India is projected to moderate in 2023, with higher interest rates weighing on investment and slower global growth weakening exports," it said in its latest World Economic Situation and Prospects report. The report has projected global trade to contract 0.4 per cent and the world economy to grow at 1.9 per cent in 2023.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
The critical information in the first quarter (Q1) gross domestic product (GDP) data relates to the proximity of real and nominal GDP growth rates at 7.8 per cent and 8 per cent, respectively. The implicit price deflator (IPD)-based inflation is only 0.2 per cent. This phenomenon has repeated after fifteen quarters.
Reserve Bank of India Governor Shaktikanta Das on Friday said the country's economy is an island of stability despite two Black Swan events and multiple shocks. "In an ocean of high turbulence and uncertainty, Indian economy is an island of macroeconomic and financial stability," Das told reporters during the post policy press conference. He said the financial stability, macroeconomic stability and resilience of growth is being witnessed despite two Black Swan events happening one after the other and multiple shocks.
Nigeria produced the first major shock of the Women's World Cup as they stunned Australia 3-2.
Reserve Bank of India Governor Y V Reddy on Tuesday said the Indian economy is largely insulated from episodes of global financial instability and the country has built resilience to shocks and is less vulnerable to output volatility.\n\n
The advanced economies have been experiencing their longest period of slow growth.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
From thousands of job losses to historic bankruptcies to Dubai debt crisis, the year had more than its share of shocks.
'The world is watching carefully. The choices India makes today have consequences beyond its borders.'
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
India's real GDP growth is set to exceed 7 per cent for CY-2015.
The United Nations, its top leaders and agencies have expressed horror and strong condemnation over the killing of hundreds of civilians in a strike on a hospital in Gaza, underscoring that attack on hospitals or civilian infrastructure is against international humanitarian law and called for holding those responsible to account.
Retail inflation rose to three-month high of 4.81 per cent in June, mainly on account of hardening prices of food, according to the government data. Inflation based on the Consumer Price Index (CPI) stood at 4.31 per per (revised upward from 4.25 per cent) in May and 7 per cent in June 2022. The inflation, however, remains within the RBI's comfort level of below 6 per cent.
New Zealand opened the ninth Women's World Cup with a shock win against former champions Norway on Thursday
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Tendulkar wants more opportunities for minnows after Scotland win
Forty years after its first edition, the world athletics championships get underway in Budapest on Saturday with over 2,000 athletes from 202 countries taking part over nine days of what could be record-breaking action.
'Markets are not expensive; they are fairly priced.'
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
As United Kingdom voted to leave the European Union in a historic referendum, scenes of celebration and gloom could be seen across the nation.
India's banking system is stable and can withstand global shocks, but there are weak spots like decelerating growth and rising fiscal deficit which need to be addressed, said a Reserve Bank report.
A 23-year-old doctor was stabbed to death on Wednesday at a taluk hospital in Kottarakkara area of Kollam district in Kerala allegedly by a man, a school teacher under suspension, who was brought there by police after being involved in a fight with his family members.
RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful launch of the wholesale pilot, the Reserve Bank of India (RBI) on December 1, last year, began its retail CBDC pilot project.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
Fitch Ratings on Friday said it has revised the outlook on India's sovereign rating to 'stable' from 'negative' as downside risks to medium-term growth have diminished on rapid economic recovery. Fitch Ratings kept the rating unchanged at 'BBB-'.
The international community counts a lot on India's leadership of the G-20 at a time when the world is faced with the continued economic slowdown and social distress, the chief of the International Monetary Fund Kristalina Georgieva has said. "India, which is the president of G-20 countries, remains among the countries that perform better than the global average and by a good percentage," IMF managing director Kristalina Georgieva told reporters during a media roundtable on Thursday. India formally assumed the G20 (Group of 20) Presidency on December 1.
The new world order that has emerged from the recession of 2008 is very complex, interconnected and unpredictable.
Moody's assigns a 'Baa3' rating on India, with a stable outlook.
Modi said that during his recent visit to Japan, he had the opportunity to meet Abe again and discuss many issues, but 'little did I know that this would be our last meeting'.
'99.6 per cent is occupied by Arab countries in the Middle East; Israel occupies just 0.4 per cent of the entire Middle East.' 'That 0.4 per cent is also a big issue for them.'
'He is ultimately responsible for this failure, having ignored warnings from Egypt and the US about the attacks.'
Suleman Dawood, 19, was on board the vessel with Shahzada Dawood as a Father's Day bonding trip when their small submarine is believed to have imploded, killing all five on board, including British billionaire-explorer Hamish Hamilton.
As India took an unassailable 2-0 lead over Australia in the Border-Gavaskar series, a dejected Allan Border opened up on the visitor's loss.
The world of golf was left stunned as the PGA Tour, DP World Tour and LIV circuit, who have been involved in a bitter fight, announced a shock agreement!
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
Summary of sports events and persons who made news on Thursday
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