India's recently unveiled 2024-25 budget seems to be an attempt by the government to address the challenges posed by a weakened job market and rural distress, which were highlighted as key factors in the BJP's recent election setback. The Finance Minister, Nirmala Sitharaman, has allocated a significant amount of funding towards job creation and rural
Finance
As spot ether exchange traded funds are gearing up to begin trading on Tuesday, crypto enthusiasts are buzzing with excitement over the potential impact on Ethereum, a blockchain technology that is often considered to have a broader range of applications than bitcoin. These ETFs are designed to invest directly in ether, the digital currency that
In a recent announcement, Finance Minister Nirmala Sitharaman revealed that the Indian government would be reducing its planned gross market borrowing by 120 billion rupees for the financial year ending March 2025. This decision comes as a modification from the earlier 14.13 trillion rupees announced in the interim budget. The aim is to borrow a
Warren Buffett's Berkshire Hathaway made a surprising move by trimming its significant Bank of America holding for the first time in over four years. The conglomerate sold a substantial amount of shares, totaling almost $1.5 billion, in separate sales over the course of a few days. This adjustment marked a significant shift in Berkshire's investment
Recently, Britain's new finance minister Rachel Reeves has indicated that she is considering approving inflation-busting pay increases for nearly 2 million government employees in an effort to prevent potential public sector strikes. This move comes in light of the recommendations made by two pay review bodies for wage rises of 5.5% for teachers and staff
France's public finances are in dire straits, according to the national public audit office, Cour des Comptes. The staggering deficit figure of 154 billion euros has left the country dangerously exposed to potential economic shocks. This financial crisis comes at a delicate time for President Emmanuel Macron's government, following a parliamentary election that resulted in
The World Bank, with backing from the U.S. and Australia, is stepping in to provide a financial lifeline for Pacific Island nations. This move comes as Western banks are pulling out of the region, leaving these small countries vulnerable to being cut off from global finance. The region, comprising 18 small countries and territories, spans
As China's highly anticipated “Third Plenum” gets underway, there are dire predictions regarding the constraining of the financial sector, especially in light of the country's slowing economic growth. The focus is shifting towards reinforced support for high-tech and manufacturing, areas that are expected to see continued success in the coming years. It is believed that
Following the aftermath of the pandemic, Wall Street banks have reported a significant increase in deal flow and investment banking activity in their quarterly earnings reports. Major U.S. banks such as Citigroup, JPMorgan, and Wells Fargo have all witnessed a surge in investment banking revenue, signaling a healthier pipeline for deals in the market. Merger
Asian stocks experienced a decline on Monday, with Chinese markets leading the losses due to persistent concerns over a trade war with the West. The negative sentiment towards China was fueled by the European Union imposing steep tariffs on the import of Chinese electric vehicles, despite objections from Beijing. This further raised the possibility of
The recent anti-dumping probe launched by China into Europe's cognac industry has raised concerns among industry experts. The finance chief at Hennessy cognac owner LVMH believes that this probe is a retaliatory measure in response to the European Union's tariffs on Chinese electric vehicles. This tit-for-tat situation has created a tense atmosphere between the two
The wholesale prices in Japan are expected to have accelerated in June, primarily due to a combination of factors such as a weak yen, increased commodity import bills, and rising transportation costs. These elements are contributing to cost-push inflation pressures on the economy, which heavily relies on international trade. According to a poll of 17
The recent release of weak U.S. economic data has had a significant impact on the foreign exchange markets. Both the pound and the euro saw gains against the dollar following this news. Sterling managed to edge up to $1.2757, while the euro reached $1.0801. The dollar's decline was sparked by softer-than-expected U.S. economic data, including
Argentina's President Javier Milei recently achieved a big legislative win with the approval of economic reform measures proposed by him in Congress. This comes just over six months after he took office, indicating early success in his presidency. The measures, which include investment incentives, privatization of state-owned entities, and tax reforms, are aimed at shaking