Economic Challenge

Finance Minister Nirmala Sitharaman on Friday emphasised the need for decisive collective action by the Global South to deal with multiple uncertainties arising out of fiscal constraints in several economies and evolving geopolitical dynamics. She was speaking at the Annual Meeting of Board Governors of the New Development Bank (NDB) at Rio De Janeiro, Brazil on 'Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South'. Sitharaman said the meeting is taking place at a defining moment for the Global South, as the world grapples with multiple uncertainties arising from fiscal constraints in several economies, climate transition issues and evolving geopolitical dynamics. "In response to these challenges, our collective action must be decisive, inclusive, and forward-looking," she said. The New Development Bank (NDB) has been established by BRICS nations. She noted that MDBs play a pivotal role in complementing ou

The world's No.2 economy has faced pressure this year due to U.S. President Donald Trump's imposition of tariffs on Chinese products and persistent deflationary pressure at home

The Union Budget has neglected the challenges facing the Indian economy and not provided any relief to the poor reeling under the pressure of high inflation, stagnated income and rising unemployment, Left parties said on Saturday. In a statement issued here, the politburo of the Communist Party of India (Marxist) said instead of addressing the root cause of the demand problem being faced by so many sectors of the economy and the lack of purchasing power for large sections of the population because of mass unemployment and shrinking wages, the BJP-led Centre is trying to stimulate the economy by giving tax cuts to a small minority with higher incomes even as expenditures are cut. "While the Economic Survey shows the desperate plight of India's labour force, pointing out the decrease in earnings over the last five years, this budget with its emphasis on cutting government expenditures while giving concessions to the rich will only increase the huge inequalities in India," the CPI(M) ..

Asia's third-largest economy forecast annual growth of 6.4 per cent in the fiscal year ending in March, the slowest in four years

China's economy has struggled to gather steam this year, mainly due to a protracted property crisis and weak domestic demand

Is it likely that startups that listen carefully to what Tim Berners-Lee has to say are the ones that will thrive in tomorrow's world (the so-called Web 3.0)?

Financial support from New Delhi to revive an ailing economy is expected to top the agenda when Muizzu meets PM Modi on Monday

An overwhelming 91 per cent majority of development economists and policy experts, 49 of 54, said unemployment would be the biggest economic challenge for the government's term

Macroeconomic impact of climate change will be big

According to the UNDP report, currently, seven out of 10 people in Afghanistan are not able to meet their basic life requirements and face economic insecurity

"The world has entered an era of radical changes and serious tests not only for specific companies and sectors, but also for whole countries and regions of the world," Putin said

Stable economic and political environment in India is attractive to investors, said Nick Allan

Recently, TCS saw its mega deal with Transamerica come to an end

The biggest risk to India's economy and social stability comes from 'grey rhino' disasters that are highly probable but often ignored

Despite the challenges of investing in an economic recovery after the pandemic, EIB Global, the development arm of the European Investment Bank, financed EUR 10.8 billion in 2022

India played a crucial role in the International Monetary Fund (IMF's) clearance of a 48-month Extended Fund Facility (EFF) worth USD 2.9 billion to crisis-hit Sri Lanka, reported True Ceylon

Salaries in India are expected to increase by 10.3 per cent in 2023, highest among major world economies and Asian peers, according to Aon plc. In 2022, salaries in India witnessed an actual increase of 10.6 per cent in 2022. As per Aon plc's 28th Annual Salary Increase Survey in India, double-digit salary growth will continue in India despite economic volatility, largely as a response to high attrition rates. At 21.4 per cent, the attrition rate in India for 2022 remained high a consequence of an ever-changing talent strategy and the ongoing gap between supply and demand of talent. "With back-to-back double-digit increments, India Inc continues to be bullish on talent despite fears of global macro-economic uncertainty. "Organisations are increasingly prioritizing their spends towards top performances, key talent and high potential talent," said Pritish Gandhi, Aon Director & India Practice Leader, Executive Compensation & Governance. The study, that analyzed data across ...

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion

India has become LinkedIn's fastest-growing market as more companies and advertisers come online, with sales in the country rising at a 50% year-on-year clip, Roslansky told Bloomberg TV

Prime Minister Narendra Modi launched the "Rozgar Mela" on Saturday to recruit 10 lakh people and underscored his government's efforts to create jobs in the last eight years amid the opposition's constant criticism of it on the issue of unemployment. In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed. "It is a fact that the global scenario is not very good. Several large economies are struggling. In many countries, problems such as inflation and unemployment are at their peak," he said. No one thinks that the side-effects of the once-in-a-century COVID-19 pandemic will go away in 100 days, the prime minister said, adding that the crisis is grave and global, causing adverse effects all around. "Despite thi