World economy

UK weighs changes in law to prevent takeover of the Telegraph by UAE-backed group

UK weighs changes in law to prevent takeover of the Telegraph by UAE-backed group

12 Mar 2024

The British government is reported to be weighing legislative remedies to the possible takeover of the Telegraph Media Group by UAE-backed investor RedBird IMI, amidst political and professional opposition to the change of guard.

Russia, China plan to counter dollar dominance with BRICS payment system

Russia, China plan to counter dollar dominance with BRICS payment system

07 Mar 2024

Russia and China have proposed the setting up of an independent BRICS payment system using digital and blockchain technologies, in a move to end the dominance of US dollar in global payments.

Japanese economy shrinks to fourth spot, slipping behind Germany

Japanese economy shrinks to fourth spot, slipping behind Germany

16 Feb 2024

Japan’s economy unexpectedly fell from its ranking as the world’s third largest economy, slipping behind Germany to rank as the fourth largest following a recession that stared in the second quarter of 2023

Hong Kong court orders liquidation of fallen Chinese real estate giant Evergrande

Hong Kong court orders liquidation of fallen Chinese real estate giant Evergrande

29 Jan 2024

A Hong Kong court has ordered the liquidation of Chinese property developer Evergrande, the country’s second largest by sales, raising the prospect of burying a $300 debt pile of the embattled group.

ECB keeps policy interest rates unchanged; points to slowing inflation

ECB keeps policy interest rates unchanged; points to slowing inflation

27 Jan 2024

The European Central Bank (ECB) on Thursday decided to leave its policy interest rates untouched, following its assessment of a declining trend in inflation rate.

Canada announces major reduction in international student offtake

Canada announces major reduction in international student offtake

23 Jan 2024

Canada’s immigration minister Marc Miller on Monday announced plans for a reduction in international student admissions to Canadian educational institutions for the next two years.

Earthquake of 7.6 magnitude strikes Japan, but tsunami threat passes off

Earthquake of 7.6 magnitude strikes Japan, but tsunami threat passes off

02 Jan 2024

A massive earthquake with a magnitude of 7.6 hit the Ishikawa prefecture in central Japan, triggering around 1 metre high tsunami waves in parts of Japan’s west coast along the Sea of Japan.

EU Council to lift air and sea travel curbs on Romanians, Bulgarians

31 Dec 2023

Member countries of the European Union (EU) have unanimously agreed to lift all air and maritime border controls with Bulgaria and Romania, commencing 31 March 2024.

RBC gets govt nod for $10 bn acquisition of HSBC Canada

RBC gets govt nod for $10 bn acquisition of HSBC Canada

23 Dec 2023

The Canadian government on Thursday granted approval for Royal Bank of Canada’s C$13.50 billion ($10.20 billion) acquisition of the Canadian assets of HSBC (HSBC Canada)

US Fed keeps policy rate unchanged at 5.25-5.50%

15 Dec 2023

The US Federal Reserve has decided to keep policy interest rate unchanged for a third time in succession, saying that any further tightening of financial and credit conditions will weigh on economic activity, hiring, and inflation.

Bahrain’s Investcorp looks to raise up to $548 m in yuan fund

14 Nov 2023

Encouraged by its successful share sale through an IPO, Investcorp Capital, an alternative asset manager based in Bahrain, is reported to be looking to raise 2 billion to 4 billion yuan

Greek government sells 20% stake in National Bank

13 Nov 2023

The Greek government on Tuesday announced the sale of a 20 per cent stake in National Bank of Greece (NBG).

World Bank warns Middle East conflict could trigger global commodity and oil price surge

World Bank warns Middle East conflict could trigger global commodity and oil price surge

31 Oct 2023

The World Bank has sounded the alarm, cautioning that the ongoing conflict between Israel and HAMAS in the Middle East has the potential to significantly

India, US, Brazil join to spearhead Global Biofuels Alliance

10 Sep 2023

In yet another big deal for India, which is the current president of the G20, the summit in New Delhi announced the formation of a Global Biofuels Alliance.

Brazil's president proposes common currency for BRICS nations

Brazil's president proposes common currency for BRICS nations

24 Aug 2023

The President of Brazil, Luiz Inacio Lula da Silva, popularly known as Lula, proposed the idea of establishing a common currency among the BRICS nations. 

JPMorgan Chase acquires majority stake in failed First Republic Bank

JPMorgan Chase acquires majority stake in failed First Republic Bank

06 May 2023

JPMorgan Chase has offered to protect all $92 billion of deposits - insured and uninsured - bringing its financial strength, capabilities and capital to the US banking system and First Republic

ECB raises interest rates by 25 basis points

05 May 2023

Silicon Valley Bank, sixteenth-largest US bank, collapses

Silicon Valley Bank, sixteenth-largest US bank, collapses

11 Mar 2023

The run on the bank followed a letter sent by Silicon Valley Bank chief executive officer Greg Becker to shareholders stating that the bank had suffered a $1.8 billion loss on the sale of US treasuries and mortgage-backed securities and also outlined a plan to raise $2.25 billion to shore up capital

India, well placed to lead G20 towards `One Earth, One Family, One Future’

India, well placed to lead G20 towards `One Earth, One Family, One Future’

06 Mar 2023

“In a world facing multiple challenges and rising geopolitical tensions, India’s G20 presidency is critical — and beautifully captured in the theme: One Earth, One Family, One Future,” the IMF MD said in a blog post

Powerful earthquake in Turkey, Syria leave at least 1,500 dead, 6,000 injured

06 Feb 2023

US using Indian refiners for record purchase of gasoline and diesel of Russian origin: report

06 Feb 2023

G20 Energy Transitions Working Group meets in Bengaluru

06 Feb 2023

G-20 Employment Working Group concludes meeting in Jodhpur

06 Feb 2023

India seeks unity of Global South to grow past a ‘frozen’ United Nations

India seeks unity of Global South to grow past a ‘frozen’ United Nations

16 Jan 2023

As many as 125 countries, which included 29 countries from Latin America and Caribbean, 47 countries from Africa, seven from Europe, 31 from Asia and 11 from Oceania, participated in the summit, while China and Pakistan were absent

Rising debt could undermine South Asia’s growth: RBI governor

Rising debt could undermine South Asia’s growth: RBI governor

10 Jan 2023

Multiple external shocks in the form of Covid related global supply chain disruptions, food and energy crisis following the war in Ukraine, and financial market volatility arising from the aggressive monetary policy tightening have exerted sustained price pressures in the South Asian economies, RBI governor Shaktikanta Das told a meeting of the International Monetary Fund

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