Germany Pledges billions for India's Growth
Around The World
India and Germany on Monday agreed to enhance ties in key areas of defence manufacturing, trade, intelligence and clean energy during wide-ranging talks between Prime Minister Narendra Modi and German Chancellor Angela Merkel after which 18 MoUs were inked.
India cuts interest rates more than expected as RBI "front-loads"
The Reserve Bank of India (RBI)
cut its policy interest rate to a 4-1/2 year low of 6.75 percent on Tuesday, in
a bigger-than-expected move that, with inflation running at record lows, could
help turn around an economy that has been slowing down.
Seven-month low manufacturing PMI supports Rajan’s rate cut call
The Nikkei India Manufacturing Purchasing Managers’ Index
for September, which at 51.2 came in at a seven-month low, indicates a sharp
deterioration in manufacturing momentum and underlines the fragility of the
industrial recovery in the country. A reading above 50 denotes expansion.
Fitch lowers India GDP growth forecast to 7.5% for 2015-16
Fitch Ratings
has lowered India's GDP growth estimate for the current fiscal to 7.5 per cent
from 7.8 per cent on average monsoon but said the country is poised to grow at
8 per cent next fiscal on reform push.
Govt gets black money disclosures totalling Rs3,770 crore
The Indian government’s much-hyped black money compliance
window saw a tepid response with less than Rs.4,000
crore of undisclosed foreign assets being declared at the close of the
three-month compliance window.
Shares of
automobile manufacturers, consumer-oriented companies, and agriculture-related
firms, whose prospects are partly tied to rural consumers, could slip as a
below-average monsoon this year may hurt their quarterly earnings, said
analysts.
India announces plan to slow rate of greenhouse gas growth
India has promised to shave a
third off the rate at which it emits greenhouse gases over the next 15 years,
in a long-awaited contribution towards reaching a deal to slow global warming
at a U.N. climate summit in December.
Around The World
The number of new applications
for U.S. jobless benefits rose modestly last week and a gauge of the trend in
claims fell, pointing to ongoing tightening in the labor market that could push
the Federal Reserve to raise interest rates.
OPINION
Why attempts by individual
central banks to boost growth and inflation via currency depreciation have been
collectively self-defeating .
Perils of excessive speculation
The speculative character of the equity markets breeds
distrust among potential first-time investors
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