Page 6 - Economy

Explained: How is Taylor Swift boosting the European economy?

Singapore economy grows 2.7%, fastest in 18 months as outlook improves

Separate data showed annual core inflation came in at 3.1 per cent in April, matching the rate in March

Household savings likely to rise in FY24, liabilities to moderate: CRISIL

Household savings are likely to rise in fiscal 2023-24, an arm of a domestic rating agency said on Tuesday. Crisil Market Intelligence and Analytics said there are "early indicators", which show that household savings would have revived in FY24, while growth in household liabilities would have moderated. "Proxy data suggest a rebound in the overall savings rate in FY24, with contribution from households," it said in a note, adding that household savings constitute 60 per cent of the total savings in the economy. It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22. The Crisil report explained that households have been borrowing at a faster pace than they have been saving since the pandemic, due to which the net household financial savings, which was arrived at by adjusting financial savings for liabilities. Factors like retail credit push by banks and

Pakistan's GDP grows 2.09% in Q3 supported by higher growth in agriculture

The bureau revised the first and second quarter GDP estimates for financial year 2023-2024 to 2.71 per cent and 1.79 per cent respectively, compared to earlier estimates of 2.5 per cent and 1 per cent

Alibaba Q4 results: Profit declines by 86%, beats revenue estimates

Consumers in China have been spending carefully after the Covid-19 pandemic amid an economic slowdown and property slump

UK exits recession with better-than-expected forecast 0.6% GDP growth

The Office for National Statistics said gross domestic product expanded by 0.6 per cent in the three months to March, the strongest expansion since the fourth quarter of 2021

UAE top destination for India migrants, hosts 3.47 million: UN report

India received more than $111 bn in remittances in 2022, the largest such amount

Pvt sector investment in FY23 fell to Covid-year levels, govt's share up

Public non-finance corporations' (PSUs) share in investment continued to decline, registering at 9.4 per cent in FY23, according to government data

Air India reduces cabin baggage allowance to 15 kg for lowest fare segment

Loss-making Air India has reduced the free cabin baggage allowance to 15 kilogram from 20 kilogram for the lowest economy fare segment on domestic flights. The changes have been made in the menu-based pricing model fare families that were introduced by the Tata Group-owned Air India last August, with the airline saying that a one-size-fits-all approach is no longer ideal. There are three fare families -- Comfort, Comfort Plus and Flex -- that offer different levels of benefits and fare restrictions at various price points, an airline spokesperson said on Saturday. With effect from May 2, the free cabin baggage allowance for the 'Comfort' and 'Comfort Plus' categories has been reduced to 15 kg from 20 kg and 25 kg, respectively. Prior to the introduction of the fare families concept, passengers on Air India's domestic flights were allowed to carry 25 kilograms of cabin baggage free of any additional charge. "On domestic routes in Economy Class, both 'Comfort' and 'Comfort Plus' far

Pension plan for unorganised sector sees only 5 mn subscribers in 5 years

Experts attribute the slow offtake under the scheme to high inflation and rise in cost of living

Intellectual property and competition law: Two sides of the same coin

The two codes are crucial for safeguarding public interest and fostering economic growth with innovation

DMRC vs DAMEPL: SC broadens scope of court intervention in arbitral awards

A perusal of the judgment in DMRC vs DAMEPL would show that the SC has interpreted the terms of the contract and that too, in its curative jurisdiction

Climate crisis cooks up costly meals: Why your 'thaali' could be on fire

As the climate blows cold and hot, it puts wheat, milk, coffee, and even Hilsa in peril

India will be able navigate even if global tensions increase: Hardeep Puri

Union minister Hardeep Singh Puri discusses India's oil economy management amid escalating West Asia tensions and affirms BJP's strategic electoral stance in Punjab

IPEF to organise clean economy investor forum in Singapore in June

The department has invited applications from domestic climate and tech entrepreneurs for participation in the meeting

Pak's Finance Minister Aurangzeb leaves banker life behind to fix economy

Aurangzeb was one of the highest paid corporate leaders in Pakistan before joining the government. Now, in line with other cabinet members, he's not drawing a salary

Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData

The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion in 2023

RBI wants inflation elephant in the forest. Can pricier oil bring it back?

After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias

Fiscal deficit at Feb-end touches 86.5% of full-year target: Govt data

The government's fiscal deficit at Rs 15 lakh crore touched 86.5 per cent of the revised annual target at the end of February, according to official data released on Thursday. In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 82.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23. For 2023-24, the government's fiscal deficit is estimated at Rs 17.35 lakh crore or 5.8 per cent of the GDP. The government's total receipts stood at Rs 22.45 lakh crore (81.5 per cent of corresponding RE 2023-24 of total receipts) as of February 2024, according to the data released by Controller General of Accounts (CGA). The total expenditure incurred by the Centre was Rs 37.47 lakh crore (83.4 per cent of corresponding RE 2023-24).

US revises economic growth estimate to 3.4% annual pace for Oct-Dec quarter

The US economy grew at a solid 3.4 per cent annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 3.2 per cent annual rate last quarter. The Commerce Department's revised measure of the nation's gross domestic product the total output of goods and services confirmed that the economy decelerated from its sizzling 4.9 per cent rate of expansion in the July-September quarter. But last quarter's growth was still a solid performance, coming in the face of higher interest rates and powered by growing consumer spending, exports and business investment in buildings and software. It marked the sixth straight quarter in which the economy has grown at an annual rate above 2 per cent. For all of 2023, the US economy the world's biggest grew 2.5 per cent, up from 1.9 per cent in 2022. In the current January-March quarter, the economy is believed to be growing at a .