Soft landing of global economy is increasingly a possibility: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman highlights the possibility of a soft landing for the global economy due to coordinated actions among countries and multilateral institutions. She emphasizes cautious optimism as economies are stabilizing but notes trade growth remains subdued and managing fiscal deficits will be challenging. Key Points
Economic TimesThe Run of Record-Breaking Heat Has Ended, for Now
Air temperatures in July 2024 were fractionally cooler than in July 2023—probably because of a waning El Niño. But don’t expect the next years to be cooler. Key Points
WIREDAdvocate on behalf of India & 'Global South' — what upcoming Adani-funded think tank aims to do
While the Chintan Research Foundation is not yet officially launched, ThePrint has learnt the Adani Group will be providing Rs 100 crore for it. Its initial focus will be on climate, strategic affairs & economy. Key Points
ThePrintJPMorgan Promotes Banking Executives Under Petno, Gori
JPMorgan Chase & Co.’s Doug Petno and Filippo Gori promoted a handful of executives in its expanded global banking unit, the latest in a series of management moves across the biggest US bank’s Wall Street operations. Key Points
mintJPMorgan sees foreign investors flocking to Indian stocks after elections
Rajiv Batra of JPMorgan Chase & Co, says global funds positioning in Indias $4.3 trillion stock market remains light and investors will use any correction as an opportunity to increase holdings. His views come as overseas flows have become more volatile ahead of the national vote amid concerns over stretched valuations. Key Points
Economic Times
S&P global Market Intelligence revises India's FY25 growth forecast to 6.8%
S&P global Market Intelligence also raised its global growth forecast for 2024 up from 2.3% to 2.6% Key Points
mintS&P global Market Intelligence revises India’s FY25 growth upwards to 6.8%
The government expects the economy to grow 7.6% in FY24. Indias growth numbers released last month showed that the economy expanded 8.2% in the year's first three quarters. Key Points
Economic TimesSiddhartha Sanyal on significance of India-EFTA deal
The free trade agreement between India and four European nations is significant as India's position in the global supply chain improves. More agreements are expected due to the urgency caused by the China plus one policy. India's large market makes it an attractive partner, and India is confident in taking on global competition and playing at a global scale. Key Points
Economic TimesIndia can now levy fine on 'global turnover' of companies abusing power. Details
The move could have bearings on foreign enterprises operating in India and Indian enterprises with a global presence. The amendment comes into effect from March 6. Key Points
Business TodayMiley Cyrus hit 'Flowers' named best-selling single of 2023 in IFPI chart
LONDON (Reuters) - Miley Cyrus's hit "Flowers" was named the world's best-selling single in 2023 on Monday, the first time the U.S. singer-songwriter has topped the chart run by industry body the IFPI Key Points
ThePrint
'India poised to see strengthening of its economic & geopolitical role in the coming decades'
A panel of global economists, including Nobel laureate Michael Spence, discussed India's potential for economic and geopolitical prominence in the coming years at Bennett University. Spence praised India's digital economy and predicted it would drive the country's growth and global influence. Key Points
Economic TimesGen AI may not lead to job losses but can shift demand curve, says S&P global Market Intelligence Presiden
India is due to hold a general election in April-May, whereas the US will hold its presidential election in November. In the case of India, Deepa Kumar, head, Asia-Pacific Country Risk, S&P global Market Intelligence, said the goal for the newly elected government will be to carry forward the structural momentum put in place by the outgoing regime. Key Points
Economic TimesPM Modi: global framework must to ensure ethical use of AI, counter crypto threat
PM: global framework must to ensure ethical use of AI, counter crypto... Key Points
The Tribune IndiaIndia successfully built best digital economy, finance architecture in world: Nobel laureate economist A M
Nobel laureate economist A Michael Spence praised India for its successful development of the best digital economy and finance architecture in the world. Spence also noted that the global economy is undergoing a regime change due to factors such as pandemics and geopolitical tensions. He highlighted the need for diversified supply chains and discussed the potential of science and technology in enhancing human welfare. Key Points
Economic TimesMultibagger: PDS gained around 1000% in last 5 years. Should you invest in the stock now?
PDS operates as a fashion infrastructure company with a unique business model, offering sourcing, manufacturing, brand management, and investment services. The company serves global retailers such as ASDA, Matalan, and TESCO, and is expected to achieve a 20% revenue CAGR over FY24–27E. Key Points
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Bharat Mobility global Expo 2024 begins tomorrow: Everything you need to know
The Bharat Mobility global Expo 2024, set to showcase the Indian automotive industry, will open on February 1st, 2024, in New Delhi. With participation from automakers and industry giants, the event aims to explore local manufacturing and position India as a global automobile manufacturing hub. Key Points
mintIn search of more: What a second residency can do for Indian HNWIs
India Business News: Discover the strategic benefits of acquiring a second residency for Indian high-net-worth individuals (HNWIs) and their families. Explore opportunities for tax efficiency, wealth preservation, and global mobility. Join the growing trend of Indian HNWIs venturing beyond borders. Key Points
Times Of IndiaWriting the new rules for AI
At the global Partnership for Artificial Intelligence summit in 2023 in New Delhi, Prime Minister Narendra Modi stressed on the importance of creating a global framework for ethical use of AI, including a protocol for testing and deploying high-risk and frontier AI tools. Earlier, at the first global AI Safety Summit 2023 at Bletchley Park, 28 countries gave a call for international cooperation to manage the challenges and risks of AI. Key Points
Economic TimesRed Sea shipping crisis to affect global trade, warns UNCTAD
UNCTAD has expressed deep concerns about the global trade disruption caused by the ongoing Red Sea crisis. The organization emphasized the adverse impact on developing nations, warning of repercussions on global food prices due to longer cargo routes and higher freight rates. Key Points
Economic TimesThe world confronts four major economic challenges right now
We face a climate transition, good-jobs problem, an economic-development crisis and the search for a better form of globalization. Conventional economics needn’t be dumped but economists must apply their tools to the objectives and constraints of the day. Key Points
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A bold Budget can pave way for India to be global South's voice
The recent G20 summit in New Delhi showcased India's growing influence in global fora, with the theme One Earth, One Family, One Future highlighting the importance of environmentally sustainable and responsible actions for green development. To sustain India's influence, follow-up measures should be announced in the upcoming Union Budget 2024-25. Key Points
Economic TimesIndia ranked 35th for leveraging future possibilities; United Kingdom tops the list
The Future Possibilities Index, a flagship global future trends study, has Denmark, the US, the Netherlands and Germany in the top five after the UK. India has... Key Points
The Tribune IndiaTop 8 threats to the global economy in 2024: A pessimist’s guide
The Middle East conflict, with the potential to choke off oil flows and push inflation higher, poses a risk to global growth. This conflict could escalate tensions in the Red Sea and draw Iran deeper into the fighting. The Federal Reserve's pivot to rate cuts could be burned by a supply shock from the Middle East or looser financial conditions. Europe faces the risk of a deep recession as the European Central Bank and Bank of England conclude their tightening cycles. The global economy could be impacted by the wobbling of the world's second-largest economy, China, and the potential loss of control of the yield curve in Japan. Ukraine's failure to counter Russia could have implications for the US as a reliable ally. Key Points
Economic Times2023 officially warmest year on record by a huge margin, WMO confirms
Strictly, the WMO found that the annual average global temperature was 1.45 degrees Celsius higher than pre-industrial levels. They consolidated six leading datasets used for monitoring global temperatures, all of which ranked 2023 as the warmest year on record. The datasets included those developed and maintained by space and meteorological agencies in the US - NASA and NOAA - along with those in the UK, Europe and Japan, before arriving at their conclusions regarding the year 2023. Key Points
Economic TimesOver 7,500 global buyers to participate in three-day mega food show
New Delhi, Jan 7 (PTI) Over 1,200 exhibitors and more than 7,500 global buyers will participate in the three-day mega food show in Greater Noida, Uttar Pradesh, beginning Monday. Commerce and Industry Minister Piyush Goyal will inaugurate the seventh edition of Indusfood 2024, Trade Promotion Council of India (TPCI) said in a statement. Indusfood is […] Key Points
ThePrint
12% exports growth by 2030 more realistic expectation for India: Barclays
India's exports are expected to grow by around 12%, resulting in a global export share of around 4% by 2030, or $1.6 trillion. However, weak global growth in the medium term, further supply chain fractures, and rising protectionism could challenge the strategy. India has been a key beneficiary of the China+1 strategy, with the tech-intensity of exports gradually increasing. Key Points
Economic Timesglobal auto sales forecasted at 88.3 Million in 2024 amid supply chain risks
New Delhi [India], December 30 (ANI): As the automotive industry braces for 2024, S&P global Mobility predicts worldwide new vehicle sales to reach 88.3 million, marking a 2.8 per cent increase year-over-year. As per S&P global Mobility, the forecast highlights a continued recovery in light vehicle output, contributing to inventory restocking across various regions. Show […] Key Points
ThePrint2024 could see Earth temporarily breach global warming threshold
The average global temperature for 2024 is forecast to be between 1.34C and 1.58C above the average for the pre-industrial period of 1850-1900. Key Points
India TodayEmerging economies to play significant role in rule making in the global trade: Dammu Ravi
In the 21st century it would be the Multipolar world which will dominate. A large number of emerging economies especially the Asian Countries would play a key role in driving global growth. The opportunities are unlimited for Asia, affirmed Dammu Ravi, Secretary (Economic Relations or ER), Ministry of External Affairs. Key Points
Economic TimesIndia, China skip signing renewable power pledge at COP28, 118 countries sign
The global Renewables and Energy Efficiency Pledge was not signed by India and China at COP28. The pledge committed to tripling global renewable energy capacity by 2030. Key Points
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Investors flock back to AI fund on rate cut hopes, Nvidia results
An exchange-traded fund tracking artificial intelligence stocks saw investors pouring money after six straight weeks of outflows, on the backdrop of strong quarterly results by chipmaker Nvidia and rising optimism that U.S. interest rates have peaked. Key Points
ReutersWorld momentarily breached 2°C warming limit for the 1st time on 17 Nov. What are the implications
Paris Agreement aimed to limit increase in global temperatures to 'well below 2°C above pre-industrial levels'. Scientists express concern about spike, which came days ahead of COP28. Key Points
ThePrintTakeaways from global South Summit: Avoiding debt traps, push for stronger voice in global governance
Around 130 countries attended virtual 'Voice of global South Summit' Friday. People-centric development finance, inclusive and sustainable energy transition also among takeaways. Key Points
ThePrintResistance to global South: Jaishankar
External affairs S. Jaishankar said there continues to be resistance to countries in the global South shaping solutions to global challenges. Key Points
mintPiyush Goyal stresses on need to ensure open supply chains
With respect to the global South, the first need is to identify global value chains, where each of the countries could focus on not only increasing their participation but also improving the quality of their participation by moving up the value chain, Goyal said at the second Voice of global South Summit. He said this will help them to partake in the largest share of high value-added parts of the GVCs. Key Points
Economic Times
global eco showing signs of slowing down, tightening financial conditions a significant risk: RBI
The Reserve Bank of India seeing a slowdown in the global economy in Q3 2023, with manufacturing slowing and the services sector reaching its post-pandemic expansion. The central bank predicts higher GDP momentum in Q3 2023-24 for India even as global labour markets are weakening due to insecurity and wars. Key Points
Economic TimesBritain's global Investment Summit draws top banking bosses
JP Morgan's (JPM.N) Jamie Dimon and Goldman Sachs' (GS.N) David Solomon will attend Britain's global Investment Summit on Nov. 27, the government said on Monday, as it seeks to attract greater global capital to UK companies and markets. Key Points
ReutersIndia's growth seems secure despite global headwinds and uncertainties
Booming industrial production and positive tax inflows outweigh woes like low private investment and weak global demand. Our economy’s expansion looks remarkably safe. Key Points
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