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GDP Growth & Recession Forecasts

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India requires 120 billion dollars to boost steel capacity by 2030
India requires an investment of USD 120 billion to add 120 million tonnes of steel-making capacity, aiming for a total of 300 million tonnes by 2030, according to Steel Secretary Sandeep Poundrik. With current capacity at 180 million tonnes, failure to expand could lead to India becoming a net steel importer. The industry must ensure profitability to attract the necessary investments.
Moneycontrol
Indian Rupee United States Dollar Ficci IND Sandeep Poundrik
Finance & Economy, Market Report
15:29 20.11.2024
germany has fiscal capacity to bolster struggling economy says ecb official
Germany has the fiscal capacity to increase spending to bolster its struggling economy, according to European Central Bank Vice President Luis de Guindos. He emphasized that this financial flexibility sets Germany apart from other countries, presenting a significant advantage for the future.
Bloomberg.com
Euro European Central Bank DEU Luis de Guindos
Finance & Economy, Transcript
14:58 20.11.2024
Iceland central bank governor hints at gradual easing amid economic resilience
Iceland’s central bank governor, Asgeir Jonsson, announced a significant half-point key rate cut, the largest in over three years, to alleviate economic restrictions following a period of overheating. He indicated that the pace of easing may slow next year, as the Atlantic economy shows resilience despite high borrowing costs in western Europe, with stagnation anticipated for 2024.
bloomberg.com
Icelandic Króna Iceland’s Central Bank ISL Asgeir Jonsson
Finance & Economy, Market Report
14:45 20.11.2024
Ethiopia plans to export electricity to Tanzania through Kenya
Ethiopia is set to export approximately 100 megawatts of electricity to Tanzania through Kenya, pending the finalization of a cross-border trade agreement. The amount of power to be traded may be adjusted during the upcoming negotiations, according to Ethiopian Electric Power spokesperson Moges Mekonnen.
bloomberg.com
Ethiopian Electric Power Tanzania Electric Supply Company Limited TZA ETH KEN Moges Mekonnen Show more
Finance & Economy, News Article
14:35 20.11.2024
home prices surge 23 percent in major indian cities amid luxury demand
Home prices in major Indian cities, including NCR and Mumbai, surged by 23% year-on-year, reaching an average of Rs 1.23 crore ($145,707) during the first half of the fiscal year. Despite a 3% decline in unit sales, the total sales value increased by 18%, driven by strong demand for luxury homes. Developers are rapidly expanding to meet this demand, with DLF Ltd. reporting a significant rise in new sales bookings.
Moneycontrol
United States Dollar Indian Rupee DLF Limited ANAROCK IND DLF Ltd. Anuj Puri
Finance & Economy, Market Report
13:41 20.11.2024
India seeks 10 lakh crore investment to boost steel manufacturing capacity
India requires Rs 10 lakh crore in private investment to boost steel manufacturing capacity by 120 million tonnes, according to Steel Secretary Sandeep Poundrik. He highlighted concerns over profitability due to excessive dumping, which has depressed international prices, and noted a 41% increase in steel imports in H1FY25. Without significant investment, India risks becoming a net importer of steel by 2030.
Moneycontrol
Steel Authority of India Limited IND Sandeep Poundrik
Finance & Economy, Market Report
12:48 20.11.2024
house prices in major indian cities rise 23 percent amid luxury demand
House prices in major Indian cities have surged by 23% year-on-year, driven by increased demand for luxury properties. The average price now stands at 12.3 million rupees ($145,707) as of the first half of the fiscal year, with over 227,400 units sold across the top seven urban areas, including New Delhi and Mumbai.
bloomberg.com
Indian Rupee ANAROCK IND
Finance & Economy, Market Report
12:44 20.11.2024
euro zone faces financial stability risks amid rising global trade tensions
The European Central Bank warns that rising global trade tensions pose risks to the euro zone"s financial stability, with weak growth now a greater concern than high inflation. Despite a recent growth uptick, uncertainties from geopolitical issues and potential U.S. tariffs could further strain the economy. ECB officials highlight fragile consumer activity and rising sovereign debt costs as additional challenges, suggesting a possible sharp reversal in market sentiment due to high asset valuations.
CNBC
Euro United States Dollar European Commission European Central Bank CHN USA UKR Annette Weisbach Donald Trump Luis de Guindos Show more
Finance & Economy, Market Report
12:41 20.11.2024
capex target for fy25 may under-shoot but growth remains stable
DEA Secretary Ajay Seth indicated that while there may be some under-shooting of the FY25 capex target of Rs 11.11 lakh crore, it still represents a significant increase from last year"s Rs 9.5 lakh crore. He noted that some sectors are lagging, but others are experiencing increased demand. Seth remains optimistic about the economic growth rate, estimating it at 6.5-7% for FY25, despite challenges with food prices due to climatic issues.
Moneycontrol
Indian Rupee FICCI IND Ajay Seth
Finance & Economy, Market Report
12:30 20.11.2024
trade tensions heighten risks for euro-area financial stability warns ecb
Rising trade tensions are increasing risks to the euro-area economy, according to the European Central Bank. The latest Financial Stability Review highlights a shift in macroeconomic concerns from high inflation to fears of weaker growth, compounded by geopolitical uncertainty affecting the 20-nation bloc.
bloomberg.com
Euro European Central Bank
Finance & Economy, News Article
10:00 20.11.2024
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