Page 34 - Economy

Axis Bank CEO flags risks of slowing economic growth, says report

Axis Bank Ltd Chief Executive Officer Amitabh Chaudhry said he was watchful over consumer demand in the Indian economy and that expectations for growth might have to be tempered a bit

Deliberate on skill gap, social security finance: Teli urges G-20 countries

Union Minister Rameswar Teli on Monday called upon G20 countries to continue deliberations on the Employment Working Group's three priority areas - skill gaps, gig and platform economy and sustainable financing of social security- to translate them into clear strategies. Addressing the inaugural session of the second EWG meeting here, the minister said that "remarkable progress was achieved during the first meet at Jodhpur in February". The collective efforts of the G20 delegates, knowledge partners and guests have laid a solid foundation for the working group's three priority areas, Teli, the minister of state for labour and employment, said. The deliberations will be taken forward by the respective ministries in their countries after the formulation of the ministerial communique, he said. "The communique is key to defining the future direction of the global economy through its eventual implementation in the G20 nations, and moving towards tangible outcomes on the key priority are

Manufacturing PMI at 3-month high of 56.4 in March as input costs decline

Companies expect customers, new products, advertising to support sales for 12 months: S&P Global survey

Global uncertainties hit office demand, gross leasing falls: Colliers India

India's office demand has been affected by global economic uncertainties with gross leasing of workspace falling 19 per cent in January-March across six major cities, according to Colliers India. Real estate consultant Colliers India on Saturday released data on the office market, which showed that the gross leasing fell to 10.1 million square feet in January-March from 12.5 million square feet in the corresponding period of the previous year. New supply declined 34 per cent during January-March to 9.5 million square feet from 14.4 million square feet in the year-ago period. Gross leasing does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed. Colliers India said that the leasing of office space has fallen due to "delayed decision-making by occupiers amidst continued economic uncertainties". Bengaluru and Delhi-NCR accounted for half of the total leasing during the first quarter of this calendar year. As per the data, the gross le

Rupee weakens 7.8% against US dollar in FY23, most in three years

The rupee closed FY23 at 82.18 to a dollar, against 75.79 a year ago

India's current account deficit declines to 2.2% of GDP in Q3FY23

Underlying the lower CAD in Q3FY23 was the narrowing of merchandise trade deficit to $72.7 bn from $78.3 billion in Q2FY23, coupled with robust services and private transfer receipts, RBI said

Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030

India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in FY22

Sugar getting even pricier now poses new threat to global food inflation

Prices of refined sugar surged to the highest in more than a decade this week, while the raw variety is near to the costliest in over six years

Pak's economy spiralling as friendly nations refuse to offer support: Rpt

Pak is in a fix as it has entered into a vicious cycle of borrowing loans to pay off the debts it had taken earlier, thus displaying the scenario that the country's economy will spiral out of control

Initial field work for annual survey of services sector begins for 2022-23

However, the survey itself may not come up before the end of 2024

Tobacco in gunny bags to attract 28% GST, 71% compensation cess: AAR

No new product emerges from the post-coating process, rules authority in Gujarat

India needs to boost reforms push to raise potential growth: World Bank

The report said addressing the aftermath of financial sector distress in India could unlock significant growth

India mulls building LNG reserve to avoid future price hike or shortages

The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis

India's shrinking current account gap provides a reprieve for Rupee

Barclays Plc expects the gap in current account - the broadest measure of trade in goods and services - to be 1.8% of gross domestic product in the year starting April 1

Power challenge: Summer comes at a price for discoms as energy bills soar

Increase in cost has pushed states to seek tariff hike in the range of 15-30%

China foreign minister says nation's recovery to benefit US companies

Qin Gang, Foreign Minister, China, welcomed US firms to keep expanding investments in China and to set roots in the country

World may split into rival economic blocs, it'll make all poorer: IMF chief

The IMF predicted growth of 2.9 per cent this year, and will release new forecasts next month

Pakistan professionals struggle with higher costs as economy teeters

Like most people in the nation of 220 million, Ahsan and her husband, who owns a car servicing business, are struggling to cope with a surge in living costs triggered

RBI central board reviews economic situation, global developments

The meeting comes in the backdrop of banking crisis in US triggered by the SVB collapse and the Fed's adoption of a softer tone on future rate hikes in its latest policy statement

Western Australia to improve ties with India, focus on green tech: Minister

Australian state 'uniquely placed' to work with India for energy transition, says Stephen Dawson