Oslo: Norway, the owner of the world’s largest ‘sovereign fund’ (investment fund) and Europe’s top economy, has been harmed by zero per cent growth. In the second quarter of 2023, Norway’s economy registered zero per cent growth due to the decline. Norway’s economy recorded a growth rate of 0.2 per cent in the year’s first […]
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Brussels – The International Monetary Fund (IMF) warned that if the country’s sovereignty is to be protected, cryptocurrency should not get the status of official currency or legal tender. Doing so would threaten the nation’s economic stability or lead to a spike in inflation. Besides, the IMF has urged the concerned countries to make strict […]
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Washington – US national debt has crossed the limit of $32 trillion. It is a new record level of debt burden on the US economy. The US national debt has increased by four trillion dollars after Joe Biden took over as President. Two weeks ago, the US Congress passed the ‘Fiscal Responsibility Act 2023’ and […]
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New Delhi – Union Finance Minister Nirmala Sitharaman announced that India’s Gross Domestic Product, i.e. GDP, has reached $3.75 trillion. By sharing this information on social media, the Finance Minister has drawn attention to the issue that the US, China, Japan and Germany are ahead of India. India, which had a GDP of $2 trillion […]
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New Delhi – The country’s Chief Economic Advisor (CEA), V Anantha Nageswaran, announced that the Indian economy will advance at the growth rate of 7.2% in the fiscal year 2022-23. Nageswaran expressed satisfaction that the country could achieve this target due to the excellent performance of the agriculture, manufacturing, construction and mining sectors. This has […]
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Doha – US’s leading economist Nouriel Roubini warned that the Biden administration’s failure to take a firm decision on raising the debt ceiling could have serious consequences. He said this would lose confidence in the US dollar, and global markets would collapse. He added that the results will be seen on Wall Street in the […]
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Washington – The international study group, Institute of International Finance (IIF), has warned that the debt burden on the world economy has reached $305 trillion. The IIF pointed out that factors such as the increasing ageing population in developed countries, growing expenditure on the healthcare sector, additional provision for defence due to geopolitical tensions and […]
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Beijing: Concerns are expressed worldwide due to China’s reduced imports and lack of expected export growth. Since China’s economy is closely linked to the global economy, economists have warned that whatever happens in China will have international consequences. At the same time, economists also warned that China’s economy is currently facing great danger. Therefore, the […]
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Washington: Hoover Institute has warned that 2000 banks in the United States are on the verge of bankruptcy. A few days back, JP Morgan Chase announced the takeover of First Republic Bank. This was the fourth bank to have collapsed in the last three months. The failure of the First Republic may not be the […]
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Washington – The US House of Representatives of the US Congress has approved the bill that increases the debt ceiling taken by the government. A bill that would increase the debt ceiling by $1.5 trillion was approved by a narrow margin of 217 to 215 in Wednesday’s session. However, the sources say that the bill […]
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