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For many low-and middle-income countries, remittances act as a major source of income. In 2024, India received an estimated $129.1 billion worth of remittances, the highest ever for a country in any year. Moreover, India’s share in global remittances was 14.3% this year, the highest such share since the turn of the millennium for any…
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“Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia,” the IMF said. Image for representation. | Photo Credit: AP The International Monetary Fund (IMF) held global growth expectations for 2024 steady in a report on July 16 even as it cut forecasts for…
Read More “IMF maintains 2024 global growth forecast, warns of inflation risk” »
Image of diplomats shaking hands for representation only | Photo Credit: SANDEEP SAXENA India and Nigeria have identified areas such as crude oil, natural gas, pharmaceuticals, Unified Payments Interface (UPI), local currency settlement system, and power sector to increase cooperation for boosting economic ties. The commerce ministry on May 3 said that these issues among…
Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions. A raft of sanctions by the U.S. and allies against Moscow over its Ukraine invasion, along…
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World Bank President Ajay Banga. File. | Photo Credit: Reuters World Bank President Ajay Banga said on October 24 that geopolitic tensions pose the biggest threat to the world economy, but that risks “tend to move around” fast, so others should not be ignored. “The U.S. 10-year Treasury [yield] just crossed 5% briefly yesterday, these…
Read More “World Bank’s Banga says geopolitics pose ‘serious’ risk to world economy” »
Ms Gopinath also said China’s growth projection has been downgraded slightly. Marrakech: As the lingering effects of the Covid pandemic and the Russia-Ukraine war continue to be felt, it’s been a challenging few years for the global economy, but there are rays of hope as well. In an exclusive interview with NDTV in Marrakech, the…
Read More “AI May Lead To Flattening Of Pay Structure: IMF’s Gita Gopinath” »