India is on a trajectory to become the world’s third-largest economy by 2030, according to a report by S&P Global Ratings. The country, currently ranked fifth, is expected to maintain its status as the fastest-growing major economy for the next three years. S&P projects a growth rate of 6.4% for the ongoing fiscal year, with […]

Moody’s Investors Services has painted a cautious outlook for global banks in 2024, citing a confluence of factors that could pose substantial challenges. The credit rating agency points to sluggish global growth, an elevated risk of borrower defaults, and increasing pressure on profitability as key concerns. The backdrop for these concerns includes prior central bank […]

The Biden administration has unveiled a comprehensive plan to regulate methane emissions from the U.S. oil and gas industry. This announcement, made at the United Nations COP28 climate change conference in Dubai, signifies a crucial step towards global efforts to curb the impact of methane, known as a ‘super pollutant,’ due to its higher warming […]

The aftermath of the coronavirus pandemic has left China grappling with a historic surge in defaults, underscoring the depth of the country’s economic challenges and the hurdles hindering a complete recovery. As economic woes persist, a record-breaking 8.54 million individuals, predominantly aged between 18 and 59, find themselves officially blacklisted by authorities for failing to […]

Sri Lanka has successfully negotiated a historic agreement with a consortium of major international creditors, including economic powerhouses China, India, and Japan. The restructuring deal, amounting to approximately $6 billion, represents a key milestone in the nation’s efforts to navigate its financial challenges. This agreement is pivotal for Sri Lanka as it positions itself to […]

In an unprecedented move, the International Monetary Fund (IMF), the World Bank, and the Bank for International Settlements (BIS) are joining forces for the first time to explore “tokenization,” a novel approach to enhance their global financial operations. The collaboration extends beyond these institutions, encompassing Switzerland’s central bank, recognized for its pioneering work in tokenization. […]

In an interview, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva emphasized the urgency for Italy, France, and Spain to address their mounting debt and deficit levels. Georgieva’s concerns stem from the aftermath of the Covid-19 pandemic, which has resulted in “very modest” economic growth in the Eurozone. Highlighting the robust fiscal responses of […]

Turkey’s central bank declared a substantial increase in its key interest rate on Thursday. The benchmark one-week repo rate surged by an unexpected 500 basis points, reaching a remarkable 40%. This decision, doubling economists’ projections of a 250-basis-point hike, sent ripples through financial markets. The Turkish lira responded immediately, trading at 28.766 to the dollar, […]

In a significant move towards stability in U.S.-China relations, President Joe Biden and Chinese President Xi Jinping met on the sidelines of the Asia-Pacific Economic Cooperation conference in San Francisco. The meeting, the first in approximately a year, conveyed a clear message of recalibration in the economic ties between the two global powerhouses. For U.S. […]