ADB Retains India’s 6.4% Growth Forecast Amid Recovery Optimism
The Asian Development Bank (ADB) has decided to retain India’s economic growth forecast at 6.4 per cent for the current fiscal year, according to an update to its Asian Development Outlook released on July 19, 2023. The ADB also projected a growth rate of 6.7 per cent for the following financial year. This decision comes…
Monika Gola
Gold-Silver Prices Remain Steady After U.S. Inflation
The U.S. dollar is performing a little low and weak compared to other times, impacting the gold-silver price in the global and domestic markets. On the Multi Commodity Exchange (MCX), gold futures began marketing at Rs. 55917.00 per 10 grams, seen as almost 0.55% rise, whereas silver futures started trading at Rs. 65090.00 per Kilogram,…
John David
3M To Cut 6000 Jobs Globally Due to Weak Consumer Demand
On Tuesday, 3M confirmed that it will cut down 6,000 positions globally due to weak consumer electronic demands. This move is expected to affect 4% of the company’s total workforce. According to the company’s annual filing in December 2022, it has over 92,000 employees globally. 3M also recorded a pre-tax saving of $700-900 million upon…
Ojasvi
India Perseveres On Amidst Global Slowdown
“Headwinds from a slowing global economy are beginning to weigh more on exports,” believes Rahul Bajoria, an economist from Barclays Plc. However, that doesn’t bode well for India, whose exports declined for four months straight. The exports registered a decline of 13.9% in March, while the imports decreased by 7.90% compared to the figures of…
WPI Inflation Rate Dropped 29-Month Low Of 1.34% In March
The Wholesale Price Index (WPI) inflation rate dropped to its 29-month low in March. Due to the moderation in the price of manufacturing goods and commodities, the inflation rate of goods was 1.34% in March from 3.85% in February. As per the data released by the Ministry of Commerce on Monday, the manufacturing items rate…
Federal Reserve To Lift Interest Rates By A Quarter Point
The federal reserve is expected to raise the interest rate by a quarter point on Wednesday. According to the sources, the central bank will release its projection about the economy amid the inflation and bank crisis. Economists believe that the Fed’s decision to raise interest rates comes during uncertainty when the whole country goes through…
Samsung Electronics Appoints New Executive Chairman
Samsung Electronics announced a new executive chairman for the company on Thursday. Jay Y. Lee is the newest face to be crowned as the chairman of the biggest smartphone and memory chip makers in South Korea. This appointment confirms that Samsung is ready to be run by the third generation of its founders. Jay Lee…
Roopa
Rupee Hits The Record Low, Approaches Towards 82 Per Dollar
The Rupee hit a record low when the Indian currency edges closer to 82 levels against the US dollar. The rupee fell to 81.90 versus the US dollar as US bond rates rose and the US currency strengthened. The rupee finished 14 paise higher at 81.53 against the US dollar on Tuesday after hitting a…
abhinav singh
World Economy Is Battered, India’s Q1 GDP Numbers Are Out
Europe’s economy is encountering severe inflation due to the Russian-Ukraine war and endangering energy shortage, and now all eyes are on India, as its Quarter 1 GDP growth is 13.5%. 2022 was expected to be the year of bouncing back after two tough phases of the pandemic, but the economies worldwide are not completely recovered…
India Is Facing Most Challenging Economic Situation
According to Hindustan Unilever (HUL) chairman Nitin Paranjpe, India is facing the most difficult economic situation that results in inflationary demand. This has prompted fast-moving consumer goods (FMCG) buyers to temporarily cut back on purchases through a period of price stickiness, which was declared ‘rare’ by the company. “India is going through probably the most…
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