JP Morgan said it will include Indian government bonds in its widely tracked emerging market debt index from next year. India will be included in the GBI-EM (Government Bond Index-Emerging Markets) Global Index suite starting June 28, 2024, reports Xinhua citing a statement issued by JP Morgan. "
Economic growth of developing economies in Asia and the Pacific is projected to remain solid, although risks to the outlook are rising, according to an Asian Development Bank (ADB) report released on Wednesday. The Asian Development Outlook September 2023 forecasts the region's developing economie
A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report says. A report from First Street Foundation released Wednesday says states
The US Federal Reserve kicks off a two-day policy meeting on Tuesday with officials widely expected to keep interest rates on hold for now, but also flagging in new economic projections whether they feel rates still need to rise further before the end of the year. A new policy statement and intere
The Indian central bank is possibly selling dollars via public sector banks, with the rupee just shy of a record low, six traders said. The rupee was at 83.2025 to the US dollar, down from 83.09 at open and within a whisker of the lifetime low of 83.29, according to Reuters. "Hearing of public se
Sri Lanka's economy shrank 3.1 per cent in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in decades, reports Reuters. The downturn was driven by high inflation, a depreciating currency and lower purchasing power, th
Russia's central bank raised its key interest rate by 100 basis points to 13 per cent on Friday, jacking up the cost of borrowing for the third meeting in succession in response to a weak rouble and other persistent inflationary pressures. A month ago, responding to the rouble tumbling past 100 to
Faster growth, cooler inflation and a job market that won't quit have set the stage for an updated batch of forecasts from Federal Reserve officials next week likely to reflect their growing faith in prospects for an economic soft-landing. What they likely won't be changing: Keeping one more rate
China's factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy. Chinese policymakers face a daunting task in trying
The European Central Bank raised its key interest rate to a record high of 4 per cent on Thursday but, with the euro zone economy in the doldrums, signalled that the hike, its 10th in a 14-month-long fight against inflation, was likely to be its last. The central bank for the 20 countries that sha
Oil prices eased on Monday as a stronger US dollar and economic concerns in China weighed on the outlook for fuel demand, but extended supply cuts by Saudi Arabia and Russia helped keep Brent above $90 a barrel, reports Reuters. Brent crude fell 15 cents, or 0.2 per cent, to $90.50 a barrel
US President Joe Biden and his allies have announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation. "This is a big deal," said Biden. "This is a really big deal." Th
The group of the world's 20 leading economies is welcoming the African Union as a permanent member, a powerful acknowledgement of Africa as its more than 50 countries seek a more important role on the global stage. US President Joe Biden called last year for the AU’s permanent membership in
