Page 32 - Economy

Japan's economy struggles to eke out growth, shows fragile recovery

Japan's economy grew at an annual pace of 0.1 per cent in October-December, in a downgrade from an earlier 0.6 per cent increase, showing how the world's third-largest economy was barely eking out growth. The Cabinet Office's revised figure for seasonally adjusted gross domestic product, or GDP, for the last three months of 2022 showed growth on quarter was flat, down from an earlier estimate given in February at 0.2 per cent growth. The annual rate shows what the growth would have been if the on-quarter rate continues for a year. Domestic demand shrank 0.3 per cent, worse than the earlier release, showing a 0.2 per cent decline, according to the data released Thursday. Public demand stood unchanged from the initial figure at plus 0.3 per cent. The latest numbers underline Japan's fragile recovery, although the easing of restrictions related to the coronavirus pandemic has helped. Japan has struggled over a shortage of imported parts from China, and the rest of Asia, such as compu

UK looks to ease immigration rules for foreign workers to plug shortages

The Migration Advisory Committee has recommended that tradespeople including carpenters, bricklayers and roofers should be added to the "shortage occupation list"

Maharashtra economy to grow by 6.8% in 2022-2023: Economic Survey

The tax and non-tax revenues including central grants for 2022-2023 (BE) are RS 308,113 crore and Rs 95,314 crore respectively

EPFO board likely to decide interest rate for FY23 on March 25, 26

Sources said that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe

Asia's very complicated interest-rate pause and sticky inflation

All central banks assert they move independently from the Fed. In practice, they tend to replicate broad trends in American credit

China sets economic growth target at 5% for 2023, lowest in over 25 years

China unveiled its lowest growth target in more than a quarter-century as Beijing faces challenges in the domestic and global economy

Before economy regains pre-Covid trend line, slowdown may be setting in

Domestically, consumption momentum is clearly fading, and capex could follow suit amid slowing prices, rising cost of capital and slowing consumption and exports, it added

At China political meeting, internet bosses are out, chip execs are in

Economy showing signs of recovery from its Covid slump

Foreign exchange reserves fall $325 million in a week to $560.94 billion

Following sharp increases in the reserves in November and December, the RBI's kitty has been declining for the past few weeks

Free markets may not create competition on their own: CEA Nageswaran

'Morality, ethics should undergird free-market economy'

MGNREGA: Why govt's app-based attendance system is facing protest

Rural Development Minister Giriraj Singh termed the recent measures steps to check corruption in the scheme and said the government would not compromise on transparency

Indians spent a record amount on foreign travel in 2022. Here's how much

An analysis of tourism data shows that India earns significantly more from foreign tourists coming to India than what Indians spend abroad

Investment facilitation for development or trouble?

Germany, Spain, France, Netherlands, and Italy pulled out of the Energy Charter Treaty last year to stave off the ISDS mechanism

US expands crackdown on China with export restrictions on Inspur, BGI

The Commerce Department added a number of companies to the so-called Entity List for acquiring and attempting to acquire US-origin items in support of China's military modernization efforts

Pakistan raises key rate by 300 bps, slaps Rs 3.23 power surcharge

Rate now highest in 26 years; currency falls to record low, $ bonds slump

Markets brace for potential default by Pakistan as $7 bn debt looms

Pak was downgraded deeper into junk by Moody's Investors this week as the country faces its worst economic crisis in decades, with foreign reserves plummeting and inflation soaring to record high

Pakistan's CPI jumps 31.5%, retail inflation highest in 49 years

Pakistan's annual inflation, measured by the Consumer Price Index (CPI), soared to a record high of 31.55 per cent in February, compared to 27.6 per cent in the previous month

Manufacturing PMI at a 4-month low of 55.3 in Feb as input costs rise

The survey noted that the February data pointed to a consecutive twenty-month rise in manufacturing production

Demand remained muted despite the largely Covid-free festival season in Q3

Growth in private final consumption expenditure was down 7 percentage points from Q2

Delhi LG launches portal for quick licencing of eating establishments

Delhi LG V K Saxena on Tuesday launched a single window portal for licencing of eating and boarding establishments, which he said would "boost" the night-time economy of the national capital. The much simplified single window portal will help entrepreneurs, businessmen and start-ups in the hospitality sector ensuring that a single easy-to-fill form, enables them to get or renew licences from five different agencies simultaneously within a fixed timeframe of 49 days, said an official statement. These agencies include the Delhi Police, Municipal Corporation of Delhi (MCD), New Delhi Municipal Committee (NDMC), Delhi fire service and Delhi Pollution Control Committee (DPCC). "Establishments will now be able to operate under a much simplified, minimal and enabling licencing regime, in the national capital," it said. Saxena said this major step has "reformed, simplified and overhauled" a regulation that had been existing since 1980 and had become extremely obstructionist for the ...