US job growth accelerated in November while the unemployment rate fell to 3.7 per cent, signs of underlying labour market strength that suggested financial market expectations of an interest rate cut early next year were probably premature. The Labor Department’s closely-watched employment r
India’s retail inflation likely picked up in November due to higher food prices after declining for three months, bringing it closer to the upper end of the Reserve Bank of India’s (RBI) 2%-6% target range, a Reuters poll found. Volatile food prices, which account for almost half of th
India’s central bank on Friday raised its fiscal year growth forecast on the back of a robust economy and flagged continuing tight monetary policy while it keeps watch over inflation risks. The Reserve Bank of India expects the economy to expand 7 per cent in the current fiscal year from 6.5
The State Bank of Pakistan (SBP) said on Thursday that its foreign exchange reserves had decreased 237 million US dollars. During the week ending on Dec. 1, the total foreign exchange reserves of the bank fell to around 7.0 billion dollars, the SBP said in a statement. The decrease occurred "due
Italy has officially informed China that it is quitting the Belt and Road Initiative (BRI), dismissing fears the move might sour relations and damage the Italian economy, government sources said on Wednesday, reports Reuters. Italy in 2019 became the first and so far only major Western natio
US job openings dropped in October to the lowest level since early 2021, indicating that the labour market was easing as higher interest rates cool demand in the economy. Job openings, a measure of labour demand, fell 617,000 to 8.733 million on the last day of October, the Labor Department said i
Ratings agency Moody's on Tuesday cut its outlook on China's government credit ratings to negative from stable, citing lower medium-term economic growth and risks from a major correction in the country's vast property sector. The downgrade reflects growing evidence that authorities will have to pr
If India needed any more proof that it was in the midst of a huge housing boom, it got in this week’s GDP data, heightening expectations that the industry will continue to power the economy for years to come. The construction sector grew 13.3 per cent in July-September from a year earlier, u
The French economy contracted by 0.1 per cent in the third quarter of the year, revised data from the statistics office INSEE showed on Thursday, while November inflation eased more than expected. The contribution of gross fixed capital formation, which indicates how much of the new value added in
Indian economy is likely to continue its strong growth in the quarter to end of September, helped by solid urban consumption and government spending, outpacing a slowing global economy squeezed by elevated interest rates and higher energy prices, reports Reuters. Asia's third-largest economy
A majority of Britons support rejoining the European Union's single market even though that would mean the restoration of the free movement of workers from the bloc, according to a poll published on Wednesday. Curbing immigration was a key reason Britons voted to leave the European Union in 2016.
Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals with c
Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter," according to a statement from his office posted on social media platform X. The comments, in response to what he called "false rumours
