Source link The Asian Development Bank (ADB) has raised India’s GDP forecast from 6.7% to 7% for the current fiscal year. The South Asian country will remain a “major growth engine” in the Asia-Pacific region, the ADB predicts. India’s GDP will grow 7.2% during the next financial year (2025-26), the Manila-headquartered ADB added. According to […]
Source link The current year could prove even more profitable for Russian banks than record-breaking 2023, Central Bank Deputy Governor Olga Polyakova said at a conference on Tuesday. Last year, a sharp rise in mortgages as well as consumer and corporate lending resulted in banks posting profits of 3.3 trillion rubles ($35.4 billion), despite Western […]
Source link The Chinese currency now accounts for the largest share of forex trading, the regulator reports The share of the Chinese yuan on Russia’s foreign exchange market hit an all-time high in March, the Bank of Russia (CBR) reported in its financial risk review on Monday. Russia’s shift away from major Western currencies started […]
Source link The Reserve Bank of India has kept the key interest rate unchanged at 6.5% amidst a stable economy In line with experts’ projections, Reserve Bank of India (RBI) Governor Shaktikanta Das affirmed on Friday that the crucial policy repo rate would be maintained at 6.5% as the economy is showing signs of robust […]
Source link The country’s public finances are in a “catastrophic” state, a source from the organization has told TASS Ukraine could go bankrupt as early as next year unless Western countries agree to write off or restructure its debts, an official from the World Bank told TASS on Saturday. Kiev is reliant on financial aid […]
Source link Over 9,000 clients have given back the entire amount they were able to withdraw during a system malfunction on March 16 The Commercial Bank of Ethiopia (CBE) has retrieved 622.9 million birr (over $10 million), accounting for 78% of the money it lost in a recent glitch that allowed customers to withdraw more […]
Source link A kew minister vowed to continue backing the settlement movement that is illegal under international law The Israeli government has designated nearly 2,000 acres in the West Bank as state-owned land in a move described by rights groups as the biggest land grab on occupied Palestinian territories in decades. The expansion of Jewish […]
Source link The Supreme Court earlier struck down a scheme that allowed confidential donations, and ruled that the details must be made public India’s ruling party was the largest beneficiary of a now-abolished bond scheme through which companies were able to anonymously fund political parties, the election commission revealed on Thursday. The Bharatiya Janata Party […]
Source link The struggling German economy will likely end the first quarter of the year in recession, and is not expected to recover for the rest of 2024, the central bank warned in a monthly report published on Monday. According to the forecastthe short-term outlook for German industry is “rather gloomy” due to lingering weakness […]
Source link The Supreme Court earlier banned the scheme used for funding parties – weeks before a national election The Indian Supreme Court on Monday asked the State Bank of India (SBI), a government-owned entity, to divulge all details relating to an electoral bonds scheme that was scrapped last month, weeks before general elections begin […]
Source link Washington has reportedly warned Austria’s banking giant Raiffeisen over its operations in Russia Austria’s Raiffeisen Bank International, the biggest foreign lender in Russia, risks “being cut off from the US financial system” if it is found to have helped fund Russia’s military, according to the US Treasury Department, as cited by Reuters. “As […]
Source link Nearly $7 billion worth of aid could be jeopardized if the legislation is signed into law Ghana could lose $3.8 billion of World Bank funding if its anti-LGBTQ legislation is signed into law, the West African nation’s Finance Ministry has warned. A $3 billion IMF loan package could also be jeopardized, it claimed […]
Source link Disparity persists in many areas but gender-equality could be fast-tracked through reforms, a report says Closing the gender gap could boost global GDP by over 20%, doubling the world’s growth rate over the next decade, according to the World Bank. Inequality persists across numerous areas, including education, health, work, wages, and labor participation, […]
Source link The National Labor Congress claims that borrowing from the international financial institutions is worsening an economic crisis Nigerian government workers and several other groups, including traders and students, staged nationwide protests on Tuesday, demanding that the government address the country’s escalating economic crisis. The National Labor Congress (NLC), which organized the demonstrations, has […]
Source link The Swiss and French branches are leveraging the family name in a bid to control the global wealth-management market The Rothschild family’s Swiss and French branches are battling for dominance in the wealth management industry, which is causing tension and sparking speculation of a merger that would significantly impact the global financial landscape, […]