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(Reuters) - France's economy grew 0.4% in the third quarter of 2024, official data from the country's statistics office INSEE showed on Friday, driven by positive fallbacks from the Paris Olympics. According to the institute, France's gross domestic product (GDP) grew by an average of 0.4% over the July-September period, confirming the preliminary figure published in October. A Reuters poll of 25 economists had on average forecast 0.4% growth in the third quarter. "Household consumption recovers (+0.6% after remaining stable in the second quarter), driven in particular by an acceleration in the consumption of services (+0.9% after +0.5%), partly as a result of the recording of the Olympic and Paralympic Games ticket sales," the statistics office said. French exports, penalised by exports of goods, fell at -0.8% following a 0.6% increase in the previous quarter, while imports saw a -0.6% decrease in the quarter, according to INSEE.
Mumbai: Bank economists have told the Reserve Bank of India (RBI) at a pre-policy meeting that there is no immediate need to either raise the repo rate or change the stance, provided inflation remains within the central bank's tolerance band, multiple participants in the discussions told ET. They also added that RBI has alternative tools to manage currency pressures and is unlikely to resort to a rate hike, unless the impact becomes visible in inflation, one economist said. Discussions at the meeting were largely centred on the war, the risk of a pick-up in inflation, and the expectation of ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in a statement. The current account had registered a surplus of $4.6 billion or 0.5% of GDP in the same ...Read More >
MUMBAI, Aug 14 (Reuters) - Credit rating agency S&P Global upgraded India's long-term unsolicited sovereign credit ratings to "BBB" from "BBB-" on Thursday, citing economic resilience and sustained fiscal consolidation. The agency had revised the outlook on India's rating in May last year to positive from stable on robust growth and improved quality of government expenditure. "The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations," the rating agency said in a statement. "Together with ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
NEW DELHI, Sept 30 (Reuters) - India's trade pact with four European nations, including Switzerland and Norway, will take effect from Wednesday, boosting exports of textiles, leather and food products while attracting investments, a government statement said. Under the Trade and Economic Partnership Agreement, opens new tab, signed last March after nearly 16 years of negotiations, the European Free Trade Association - comprising Switzerland, Norway, Iceland and Liechtenstein - will cut tariffs on 92.2% of tariff lines for India, while New Delhi will offer concessions on 82.7% of tariff lines ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in a statement. The current account had registered a surplus of $4.6 billion or 0.5% of GDP in the same ...Read More >
NEW DELHI (Reuters) -India's trade pact with four European nations, including Switzerland and Norway, will take effect from Wednesday, boosting exports of textiles, leather and food products while attracting investments, a government statement said. Under the Trade and Economic Partnership Agreement, signed last March after nearly 16 years of negotiations, the European Free Trade Association - comprising Switzerland, Norway, Iceland and Liechtenstein - will cut tariffs on 92.2% of tariff lines for India, while New Delhi will offer concessions on 82.7% of tariff lines covering 95.3% of EFTA ex ...Read More >
MUMBAI, Dec 1 (Reuters) - India's current account deficit moderated in the July-to-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday. The current account deficit stood at $12.3 billion, or 1.3% of GDP, in the second quarter of the fiscal year 2025-26, compared with an upwardly revised deficit of $20.8 billion, or 2.2% of GDP, in the same quarter a year ago. In the preceding quarter, the current account had recorded a deficit of $2.4 billion, or 0.2% of GDP. India's merchandise trade deficit narrowed to $87.4 billion from $88.5 billi ...Read More >
Telangana BJP president N. Ramchander Rao has slammed a ₹25 crore defamation notice on Deputy Chief Minister Mallu Bhatti Vikramarka and sought an unconditional public apology for his 'illegal' and 'unlawful' acts of making false imputations against him with regard to the suicide of University of Hyderabad (UoH) research scholar Rohith Vemula causing him 'serious agony' and 'Irreversible' damage. Mr. Vikramarka has been given three days to apologise or criminal action will be taken claiming damages of ₹25 crore, said the legal notice sent on Tuesday. The notice sent through Mr. Ramchander Rao ...Read More >
Government faces higher subsidy costs due to rising oil prices India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritise capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and a ...Read More >
MUMBAI (Reuters) - Foreign investors have stepped up buying of Indian government bonds in the last four sessions, after weaker-than-expected economic growth data last week spurred expectations of monetary policy easing by the central bank. These investors net bought bonds worth over 90 billion rupees ($1.06 billion) under the Fully Accessible Route till Wednesday, a majority of which are part of JPMorgan's debt index, data from Clearing Corporation of India showed. Foreign investors heavily sold bonds for most of November, as U.S. yields remained elevated after Donald Trump's victory in the ...Read More >
NEW DELHI: India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritize capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and airports, which the government sees as critical to sustaining growth and creating jobs, the two sources said. India, in February, said it would aim for ...Read More >
MUMBAI, Dec 1 (Reuters) - India's current account deficit moderated in the July-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday. The current account deficit stood at $12.3 billion, or 1.3% of GDP, in the second quarter of the fiscal year 2025-26, compared with an upwardly revised deficit of $20.8 billion, or 2.2% of GDP, in the same quarter a year ago. In the preceding quarter, the current account had recorded a deficit of $2.4 billion ot 0.2% of GDP. (Reporting by Swati Bhat; Editing by Mrigank Dhaniwala) ...Read More >
CHENNAI: Governor R N Ravi, Chief Minister M K Stalin, AIADMK general secretary Edappadi K Palaniswami, and leaders of political parties paid tributes to freedom fighter Dheeran Chinnamalai on his death anniversary on Sunday. "The nation pays humble tribute to the great patriot, visionary leader and fearless commander Dheeran Chinnamalai. With unmatched courage and strategic brilliance, he led relentless campaigns against the oppressive British East India Company, boldly challenging colonial tyranny," the governor said in his message. The CM, accompanied by his Cabinet colleagues, paid flora ...Read More >
NEW DELHI - Opposition leader Rahul Gandhi said on Aug 13 that India's electoral system suffers from "serious discrepancies" and he pledged to continue challenging its integrity through public mobilisation and potentially the courts. Mr Gandhi, the scion of the Nehru-Gandhi dynasty that controls the main opposition Congress party, last week accused authorities of manipulating voter rolls by adding fake names in the 2024 general election and other recent polls. Prime Minister Narendra Modi's Bharatiya Janata Party, which performed below expectations in the national vote and had to rely on all ...Read More >
ISTANBUL (Reuters) - Turkey's economy is expected to have expanded 2.6% in the third quarter due to slower domestic demand and the weight of tighter economic policies, a Reuters poll showed on Tuesday, with the rate seen cooling to 3% for the year as a whole. The economy grew 5.3% in the first quarter of this year with strong domestic demand pushed up by a minimum wage hike and households bringing purchases forward in expectation of higher inflation ahead. In the second quarter, sagging demand brought growth down to 2.5% in the face of a monetary tightening campaign that began in June 2023, ...Read More >
New Delhi [India], August 14 (ANI): The credit-to-deposit ratio in Indian banks has stayed below 80 per cent as credit offtake in the country continues to lag, according to a report by CareEdge Ratings. The report highlighted that while both credit offtake and deposit growth have increased sequentially, they remain significantly lower than the levels seen last year. Deposits continued to outpace credit offtake in the current fortnight, leading to a narrowing of the credit-deposit gap. It stated Credit to Deposit Ratio Remains Below 80 per cent as Credit Offtake Lags. The report data pointed ...Read More >
Shimla, Aug 14 (SocialNews.XYZ) Braving darkness, fast currents and unstable terrain, the Indian Army on Thursday said its swift response averted a potential tragedy when a sudden flash flood struck Hojis Lungpa Nala in Himachal Pradesh's mountainous Kinnaur district. The incident happened at around 7 p.m. on Wednesday. Triggered by a cloudburst in the higher reaches of the Rishi Dogri Valley, the deluge engulfed the bridge across the Sutlej River and injured one individual. The site was an active road construction zone under the CPWD towards Gangthang Bralam, it said. On receiving an urgen ...Read More >