CHINESE RECOVERY IS UNEVEN AND DEFLATION PERSISTS Details of the GDP data reflected an uneven recovery in the Chinese economy, which raises concerns if the current growth is sustainable. In recent quarters, the manufacturing industry emerged as a key growth driver and construction activity was robust, while the real estate sector continued to shrink. All … Read more
The fall in household savings has been at the heart of recent debates in India. The decline in household savings is brought about by a drastic reduction in net financial savings as the household net financial savings to GDP ratio attained a four-decade low. Figure 1 shows the broad trend in household savings, physical savings … Read more
The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday. The local state-owned assets watchdog will be responsible for the fund’s establishment and operations. It will be the city’s largest government-backed … Read more
Last Updated: March 19, 2024, 21:15 IST On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore. (Representative Image) On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore, an 18.74 per cent growth over the year-ago period The net direct … Read more
They raised its growth rate estimate for the US to 2.1%. In its latest Global Economic Outlook, the rating agency noted that India’s economic growth is outperforming quarterly estimates, propelled by a surge in domestic demand. Fitch Ratings, an American credit rating agency, has revised its forecast for India’s gross domestic product (GDP) growth rate … Read more
The Bank of Canada has held its key interest rate at five per cent again, saying that it’s still too soon to consider rate cuts while underlying inflation persists. Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips … Read more
The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing in our spring flash sale. Premier Li Qiang will deliver his first government work report at the meeting, offering a glimpse into the central government’s economic goals and foreign policy as well as its … Read more
New Delhi: Corrections in mid and small caps are underway and expected to continue, with regulators urging disclosure of associated risks to AMCs, says Vinod Nair, Head of Research, Geojit Financial Services. Banking stocks reversed initial weakness to perform well on the back of an improved economic outlook, while weakness persisted in the IT and … Read more
The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses. Statistics Canada reported Thursday that real gross domestic product increased by an annualized rate of one per cent, beating economists’ expectations and the Bank of Canada’s forecast for the final … Read more
