Gold
India's FY25 Growth Forecast Up to 6.8%
S&P Global Market Intelligence announced an upward revision to India's economic growth forecast for the fiscal year 2024-25, expecting it to reach 6.8% compared to the earlier projection of 6.5%. The analytics firm cited stronger growth momentum and improved global prospects as key factors driving this revision.
Ken Wattret, global economist at S&P Global Market Intelligence, expressed confidence in India's economic trajectory, stating, We have revised up 2024?s growth forecast for India due to stronger than expected momentum at the start of the year. An improving global economic envir..
India to rank third in global economy by year-end: S&P
According to a report released by S&P Global Ratings, it was projected that by 2030, India would become the world's third-largest economy, experiencing an estimated 7 per cent GDP growth in the fiscal year 2026-27.
As of 2023, India held the position of the world's fifth-largest economy, following the United States, China, Germany, and Japan. In the Global Credit Outlook Report 2024, S&P indicated that India's GDP growth at the conclusion of the on-going financial year is anticipated to be approximately 6.4 per cent.
The report from the firm suggested a consistent GDP growth ..
Chinese real estate firm Kaisa Group at risk of default
After China’s real estate major Evergrande Group faced a debt repayment deadline, another realty firm Kaisa Group is at risk of default, increasing fears of further issues in the country's embattled property sector.
On Friday, shares of Kaisa Group, a Shenzhen-based company, were halted from trading in Hong Kong. The firm's subsidiaries, which also were stopped from trading, indicated a pending declaration about the group in stock exchange filings. The firm told the media regarding its liquidity issues and confessed to missing a payment associated with its wealth manageme..
IL&FS Requests New MMRDA Nod for Mumbai HQ Transfer
IL&FS has sought renewed approval from the Mumbai Metropolitan Region Development Authority (MMRDA) to transfer its headquarters within Mumbai. This move indicates IL&FS's commitment to navigating regulatory requirements amid ongoing restructuring efforts.
IL&FS's request for new approval underscores its determination to ensure compliance with all necessary regulations and expedite the headquarters transfer process. It reflects the company's efforts to streamline its operations and address administrative challenges as part of its restructuring endeavours.
The need for fresh appro..
Malaysian Carbon Credit Auction Begins July
In a significant move towards environmental sustainability, Malaysia's carbon exchange will host its first local carbon credit auction in July. This event marks a pivotal step in the nation's commitment to reducing carbon emissions and fostering a green economy.
The Malaysian carbon exchange aims to provide a structured marketplace for carbon credits, where companies can buy and sell these credits to offset their carbon footprints. This initiative aligns with global efforts to mitigate climate change by encouraging businesses to adopt more sustainable practices.
The auction w..
