Page 3 - Economy

Japan's economy grows more than expected on strong exports, consumption

Japan's economy grew at a better-than-expected annual rate of 2.8 per cent in October-December, underlined by steady exports and moderate consumption. On a quarter-to-quarter basis, the world's fourth largest economy grew 0.7 per cent for its third straight quarter of growth, the Cabinet Office reported on Monday in its preliminary data. For 2024, the Japanese economy eked out 0.1 per cent growth in seasonally adjusted real GDP, or gross domestic product, which measures the value of a nation's product and service. That's the fourth straight year of expansion. Private consumption grew at an annual rate of 0.5 per cent during the three months through December, holding up while losing momentum. Exports jumped 4.3 per cent, and capital investment increased 0.5 per cent. The positive data sent Japan's benchmark Nikkei 225 higher, as well as other Asian markets. Some analysts think the anticipation of President Donald Trump's tariffs may have lifted trade. Unlike the US and some other

India-US TRUST, IMEC to drive economic, infra cooperation: Experts

India-US TRUST (Transforming Relationship Utilizing Strategic Technology) will pave the way for economic and technological cooperation between the two countries, while focus on the IMEC framework will deepen collaboration in infrastructure and economic corridors, according to industry experts. Prime Minister Narendra Modi and US President Donald Trump have agreed on the TRUST initiative, to emphasise on creating strong supply chains of critical minerals, advanced materials, and pharmaceuticals. As per a joint statement issued after the Trump-Modi meeting in Washington, both countries have decided to launch a recovery and processing initiative for strategic minerals such as lithium and rare earth. The two sides will also work together on economic corridors and connectivity infrastructure under the IMEC (India-Middle East-Europe Economic Corridor) and I2U2 frameworks. "TRUST initiative on critical minerals and advanced materials marks a significant step toward economic and technologi

PwC rejigs key leadership roles to strengthen India presence from April

PwC said that it has achieved its ambitious milestone of $1 billion in topline revenue well ahead of schedule

Foolish to expect pvt sector to take care of everything: Economist Duflo

France has a lot of good presses that specialise in publishing stories for children. I grew up reading books as well as weekly and monthly magazines, Esther Duflo said

Pakistan sees economy on long-term recovery path under new IMF programme

The comments came from Pak PM Sharif in his meeting with Kristalina Georgieva on the sidelines of the World Government Summit (WGS) 2025 in Dubai

India Energy Week: Govt opens biggest oil & gas bidding round under OALP

19 large offshore blocks part of 25 on offer; India is keen to attract foreign bids this time

Pakistan requests China to reschedule $3.4 billion debt for two years

Pakistan has requested China to reschedule USD 3.4 billion debt for two years to bridge a foreign funding gap identified by the International Monetary Fund, according to a media report on Saturday. This is the second time in the past five months that Islamabad has requested Beijing to reschedule loans provided by its Exim bank. Deputy Prime Minister Ishaq Dar made the formal request during this week's visit to Beijing, The Express Tribune newspaper reported, quoting government sources. Pakistan requested the Export-Import (Exim) Bank of China to consider rearrangement of its loans due from October 2024 to September 2027, said the government officials. A two-year extension was sought to repay the official and guaranteed debt obtained from the Exim Bank. Pakistan would keep making interest payments. Sources said that Pakistan was required to identify financing sources to fill the external financing gap of USD 5 billion for the three-year programme period. They added the Chinese ...

Sri Lanka's fourth IMF tranche of $3 bn to be released soon: Officials

Sri Lanka's fourth tranche of nearly USD 3 billion bailout facility by IMF will be materialised in the coming months, a top official of the world body has said. The National People's Power (NPP) government has already reached a staff-level agreement with the IMF on the third review of the USD 3 billion extended arrangement under the EFF in November. On Thursday, Julie Kozack, IMF spokesperson, said in Washington that the USD 333 million fourth tranche is expected to be released in the coming months after the IMF executive board approves it. She said the review would focus on the full implementation of prior action under the programme. Since the IMF and Sri Lanka entered the bailout in March 2022, three tranches of over USD 330 million have been disbursed. On Thursday, in Colombo President Anura Kumara Dissanayake met the IMF officials to discuss Dissanayake's first full government budget for 2025. The President's Media Division (PMD) said a comprehensive discussion regarding the

Repo rate cut sends 'strong' signal to markets on low borrowing costs ahead

Given the current economic landscape, moderating inflation, and sluggish growth, another 25-50 bps rate cut within this calendar year remains a strong possibility

Charting a new growth path: Budget pushes gender budgeting to 8.9% in FY26

A new scheme will support 500,000 women, SC, and ST first-time entrepreneurs with term loans of up to Rs 2 crore during the next five years

Fiscal deficit for April-Dec at 56.7% of full-year target, shows data

Net tax receipts for the first nine months of the current financial year were at Rs 18.43 trillion

Germany cuts 2025 economic growth forecast to 0.3% after two-year slump

The German government on Wednesday slashed its 2025 growth forecast for the country's economy, Europe's biggest, to just 0.3% after it shrank for two consecutive years. The new projection is much lower than the government's previous forecast of 1.1% growth, issued in October. Germany has managed no meaningful economic growth in the past four years as it has struggled to deal with major shifts in the global economy and with structural challenges of its own. Preliminary figures released two weeks ago showed that gross domestic product contracted by 0.2% last year, following a 0.3% decline in 2023. The economy is one of the top issues in the campaign for an early German parliamentary election on Feb. 23. It is being held seven months before it was originally scheduled after Chancellor Olaf Scholz's three-party coalition collapsed in November in a dispute about how to revitalise the economy. Contenders to lead the next government have made contrasting proposals on how to get it growing

IMF downgrades Pakistan's GDP growth outlook for 2025 from 3.2% to 3%

The International Monetary Fund (IMF) has revised cash-strapped Pakistan's economic outlook, downgrading its projected Gross Domestic Product (GDP) growth for 2025 to 3%, down from 3.2% forecasted just three months ago, according to a media report on Saturday. The adjustment comes amid a broader global economic assessment presented in the IMF's "World Economic Outlook Update: Global Growth Divergent and Uncertain", The Express Tribune newspaper reported. The IMF's revised projections also indicate that Pakistan's GDP growth will remain at 4% in 2026. However, the latest downgrade reflects ongoing economic challenges in the country, although the IMF did not provide specific reasons for the revision. This latest revision mirrors the forecast made by the Asian Development Bank (ADB) last month, which also adjusted Pakistan's growth forecast to 3% for the fiscal year 2024-25, up from a previously projected 2.8%. Both institutions have cited challenges faced by Pakistan's economy but h

Hailing the freelance economy as it expands across global professions

Freelancers in the United States contribute significantly to the country's economy, with earnings totalling approximately $1.27 trillion in 2023

Vietnam's 2024 GDP growth accelerates to 7.09% driven by strong exports

GDP grew 7.55 per cent in the fourth quarter, the fastest quarterly growth in more than two years, the General Statistics Office said in a report

UK business morale gloomiest, hits two-year low after tax rises: Survey

Finance minister Rachel Reeves announced 40 billion pounds ($50 billion) of tax rises on Oct 30, the most of any budget since 1993

Argentina's Milei scores win with $1 bn repurchase deal from five top banks

Argentina's sovereign bonds climbed on Friday's announcement. Benchmark notes due in 2035 touched a session high before paring gains

Diljit Dosanjh's concerts a wake-up call: Is India ready for mega events?

Diljit Dosanjh announced that he won't perform in Chandigarh again until there is better infrastructure, highlighting event management and infrastructure woes seen in Delhi and other cities as well

South Korea sharply trims GDP growth forecast after martial law fiasco

The Finance Ministry sees the economy now growing 1.8 per cent in 2025 after expanding 2.1 per cent last year, it said in a statement on Thursday

State-run OMCs cut commercial LPG and ATF prices, effective January 1

State-run oil marketing companies have reduced prices for 19-kg commercial LPG cylinders and aviation turbine fuel across major metros