Fuel-starved Sri Lanka enters deal with Chinese company : Official in Colombo

23 May 2023

Cash-strapped Sri Lanka has signed a long-term agreement with Chinese oil and gas giant Sinopec on important storage, distribution and sale of petroleum products in the island nation, President Ranil Wickremesinghe’s office said on Monday. The deal with Sinopec-- a state-owned Chinese company --was reached months after the two sides...

Bangladesh’s GDP growth to overtake China, IMF report forecasts

08 May 2023

Bangladesh's Gross Domestic Product (GDP) growth rate in the current fiscal year will overtake China, the International Monetary Fund's latest report on the Asia-Pacific region forecast, according to Daily Sun citing United News of Bangladesh. According to the latest report from the IMF, Bangladesh will be in the second position,...

India and China will account for half of global growth in 2023, says IMF

07 Apr 2023

According to the International Monetary Fund (IMF), the global economy will grow by less than 3% in 2023, with India and China accounting for half of global growth that year. Global growth will remain around 3% over the next five years, the lowest medium-term growth forecast since 1990 and well...

Decline in India’s wholesale inflation continues in Feb, says Official data

14 Mar 2023

Wholesale inflation in India based on the Wholesale Price Index continued to moderate and was at 3.85 per cent (provisional) in February 2023, against the previous month's 4.73 per cent, official data showed on Tuesday. Overall wholesale inflation was at 8.39 in October and has been falling since then. Notably,...

India ultimate destination for business , G20 calls for friendshoring : Sitharaman

05 Mar 2023

India is the destination for businesses, Finance Minister Nirmala Sitharaman on Saturday said that the country has the right combination of factors that matter for a growing economy including a middle class, captive market with purchasing power, technology-driven public investment and products, digital infrastructure and rule of law. In her...

Budget 2023: Squad responsible for preparing the budget

01 Feb 2023

The Union Budget 2023 has been presented by Finance Minister Nirmala Sitharaman. Though the union minister is the face of the budget, yet it requires a significant amount of team work in preparing budget as it impacts every sector and individual of the country at a large scale. Here is...

Nationwide strikes in France to stall Macron’s retirement reform

19 Jan 2023

The French government is about to bring its new bill to officially increase the retirement age from 62 to 64. This move is expected to receive big push back from the unions as they plan a massive nationwide strike on Thursday. Intercity, commuter train services, many schools and other public...

China’s economy grows by mere 3% amid shrinking population

17 Jan 2023

Chinese Economy had its weakest performance in 2022 since 1976 the final year of Mao Zedong’s three-decade rule. China’s Economy grew by 3% in 2022, according to government data. This comes when China’s population has shrunk for the first time in 60 years as a start of a period which...

21st century is India’s, we can be USD 40 trillion economy by 2047: Mukesh Ambani

29 Dec 2022

Mukesh Ambani, Chairman and Managing Director of Reliance Industries on Wednesday said that the world sees 21st century as India’s and we can become USD 40 trillion economy by 2047.He was speaking on the occasion of the Reliance Family Day Function. "Years will roll. Decades will pass. Reliance will continue...

‘India is today 5th largest economy in the world’, says PM Modi

22 Oct 2022

Prime Minister Narendra Modi highlighted the reforms undertaken by the Centre for the development of the country on Saturday and said India is trying to save itself from the global crisis and economic slowdown. Earlier in the day Prime Minister Modi launched the 'Rojgar Mela', a recruitment drive for 10...