Economy / Global


Rupee hits record low for sixth straight session

Rupee hits record low for sixth straight session

The Indian rupee weakened to its all-time low for the sixth consecutive trading session on Tuesday as a rise in US bond yields boosted the dollar and strong demand for the greenback from importers added to the lingering pressure on the local currency. The rupee declined to 85.2075 against the US d

Inflation, elections, war dominated 2024

Inflation, elections, war dominated 2024

Inflation dropped in most economies around the world in 2024, but voters didn’t care. Angered by the hefty ramp-up in prices for everything from eggs to energy over the past few years, they punished incumbent parties at almost every opportunity. The pain of inflation lingers, and ruling part

New Zealand sinks into recession

New Zealand sinks into recession

New Zealand's economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was slashed, a dire result that cements the case for more aggressive rate cuts, reports Reuters.  The shock news sent the local dollar to a fresh two

UK inflation hits 8-month high but underlying pressures steady

UK inflation hits 8-month high but underlying pressures steady

British inflation hit an eight-month high in November, but the rise in services prices - watched closely by the Bank of England as an underlying measure of inflationary pressures - held steady, offering the central bank a little bit of relief.   Investors added slightly to their bets on inte

China plans record budget deficit of 4pc of GDP in 2025

China plans record budget deficit of 4pc of GDP in 2025

Chinese leaders agreed last week to raise the budget deficit to 4 per cent of gross domestic product (GDP) next year, its highest on record, while maintaining an economic growth target of around 5 per cent, two sources with knowledge of the matter said.   The new deficit plan compares with a

Moody's downgrades France's credit rating to Aa3

Moody's downgrades France's credit rating to Aa3

Credit ratings agency Moody's has downgraded France's credit rating to Aa3 with a stable outlook, reported media outlets on Saturday. "The decision to downgrade France's ratings to Aa3 reflects our view that France's public finances will be substantially weakened by the country's political fragmen

Iran to develop transit hub for Asia-Europe trade

Iran to develop transit hub for Asia-Europe trade

Iran is working to attract a share of the Asia-Europe goods transit by developing a free zone in its northwest, not least by completing a key rail route, an Iranian official said on Tuesday. Hossein Garousi, head of the Maku Free Zone Organization, outlined the plan ahead of an international confe