Page 37 - Economy

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 ...

Labour-intensive manufacturing segments facing external headwinds

Experts say manufacturing is declining due to a slump in overseas demand and production-linked incentive schemes will take time to yield results

Janet Yellen visits Ukraine, underscores continued US economic support

US Treasury Secretary Janet Yellen said Monday her first visit to Ukraine underscored Washington's commitment to continuing its economic support for the country, as the din of air raid sirens echoed across the Ukrainian capital. Yellen said following talks with Ukrainian Prime Minister Denys Shmyhal that the US has provided nearly USD 50 billion in security, economic and humanitarian assistance and announced another multibillion dollar package to boost the country's economy. Shmyhal offered thanks to the U.S. for its support and hailed Yellen as a "friend of Ukraine. He said Ukraine's budget deficit now stands at USD 38 billion and that the U.S. will provide another USD 10 billion in assistance by September. Shmyhal and Yellen also discussed sanctions aimed at weakening Russia's economy as well as the possibility of using Russian frozen assets to help in Ukraine's economic recovery. Yellen repeated U.S. President Joe Biden's message that Washington will stand with Ukraine for as lo

Graded KYC for online gaming platforms likely to receive MeitY approval

Platforms must follow verification procedure as prescribed under RBI's directions for entities regulated by it

Fresh public sector employment declined in 2022 by 8.8%, shows data

The share of young women getting these jobs, however, declined to 35.4 per cent in 2022, from 37.1 per cent in the preceding year, contrary to the trend seen at the Centre

Chintan shivir on drugs to diagnose and treat issues of trust, quality

Proposals to be discussed at Hyderabad conclave include having a centralised drug registration system under CDSCO

Uncertain future for EV dealers as manufacturers face subsidy halt

Many are considering shutting shop as supplies are down to a trickle and operational costs exceed revenues

The real story behind real interest rate

While the debate will continue about the benchmark rate to calculate real interest rate, both for the lenders and the savers, shouldn't all rates be higher than the rate of inflation?

Will have International Biofuel Alliance before G20 summit: Hardeep Puri

To meet vice president of Guyana, which plans to reallocate key oil blocks, recruit exploration partners

German economy shrank more than expected by 0.4% in fourth quarter of 2022

The German economy shrank by 0.4 per cent in last year's fourth quarter, the national statistics office said Friday, a sharp downward revision from its initial report that gross domestic product declined by 0.2 per cent. The quarter-on-quarter contraction in the October-December period was the first since the first quarter of 2021. Consumer spending, which propped up growth in the first nine months of last year, dropped by 1 per cent in the final three months of 2022. Investment in construction and machinery showed bigger drops in the final quarter, the Federal Statistical Office said. The full-year 2022 growth figure for Germany Europe's biggest economy remained at the 1.8 per cent that the office reported at the end of January. The economy has generally held up well, despite pressure from high inflation and fears last year of an energy crunch as Russia reduced and then cut off its gas supplies to Germany. That didn't materialise. On Wednesday, a closely watched survey showed

5% GST payable on all pre-packaged and labelled jaggery: Karnataka AAR

Like many other agricultural commodities, jaggery was exempted from GST until July 18 last year

Will China surpass US to become the biggest economy in the world?

The US tech ban is one reason many international organisations have begun to delay - if not drop entirely - forecasts that China will surpass the US to become the biggest economy in the world

Growth is fragile, real interest rates too high: MPC member Jayanth Varma

In an interview with Business Standard, MPC member Jayanth Varma says the committee should not tie its hands by adopting the withdrawal of accommodation stance

PM Modi bats for more RE and less fossil fuel or gas-based economy

The PM addressed stakeholders and govt departments in the first of 12 post-Budget webinars by the Centre

Economy to grow at 7% despite global headwinds: Finance ministry data

The rise in economic uncertainties is reflected in the unevenness of performance of the global economy in 2022, it noted