Mumbai, May 7 (IANS) India’s economy is growing well and the banking sector remains stable despite global and domestic challenges, M. Nagaraju, Secretary of the Department of Financial Services (DFS), Ministry of Finance, said on Thursday.Speaking at the Indian Banks’ Association’s (IBA) inaugural Summit on Risk Management held here, Nagaraju said risk management in banks must be treated as a strategic responsibility and embedded across all functions of the banking system.”Despite various challe…
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New Delhi, May 6 (IANS) Geopolitical tensions, supply chain disruptions and rapid technological changes are reshaping how economies participate in global value chains, the Asian Development Bank (ADB) said on Wednesday.Greater specialisation in the stages of global production has helped Asia and the Pacific achieve economic growth, create jobs, and reduce poverty over the past quarter century, according to the ADB’s ‘Asian Development Policy Report 2026’.The report found that the region ac…
New Delhi, May 5 (IANS) Pakistan’s economy is under mounting pressure as its total debt and liabilities have surged to Rs 85 trillion over the past four years, which highlights a steep rise in fiscal stress amid limited structural reform, a report has said.A report in The News Pakistan highlighted that the country’s debt and liabilities have increased from around Rs 55 trillion four years ago to Rs 85 trillion at present — an overall jump of nearly 55 per cent. This translates into an avera…
Washington, May 5 (IANS) US President Donald Trump said small businesses are the “lifeblood of the American economy”, highlighting tax cuts, deregulation and tariffs as key drivers of growth during remarks at the White House.Speaking at an event marking National Small Business Week, Trump said the sector plays a central role in economic activity. “The people in this room represent the 36 million small businesses who create 40 per cent of all economic activity in the United States,” he sa…
New Delhi, May 4 (IANS) Pakistan’s repeated cycles of episodic external assistance stabilised its economy in crisis many times without delivering structural transformation, and the country moved into a “rent‑seeking equilibrium” behaviour, a new report has said.An opinion piece from The Express Tribune said Pakistan witnessed a recurring cycle of episodic relief and concessional financing since its independence in 1947.The report cited development specialist and supply chain management exper…
New Delhi, May 3 (IANS) The Congress party on Sunday launched an attack on the Centre after reports emerged that Air India may scale back its international flight operations until July due to a steep rise in jet fuel prices, calling it a case of “gross mismanagement” and accusing the government of ignoring the country’s long-term economic interests.In a post on social media platform X, the opposition party, citing media reports, criticised the situation and said it reflected poorly on the …
New Delhi, April 29 (IANS) Pakistan’s diplomatic efforts to somehow bring US-Iran conflict to an end is not only about geopolitical positioning but also about addressing a pressing economic need, according to a new report.Successful mediation can reduce the risk of further shocks to oil and gas prices, ease pressure on the electricity sector, stabilize relations with Gulf states, and open a broader economic horizon with Iran, says a report in www.calcalistech.com.The report says that Pakistan …
New Delhi, April 29 (IANS) New Zealand Prime Minister Christopher Luxon on Wednesday described India-New Zealand free trade agreement (FTA) as a once-in-a-generation opportunity, underscoring the scale and potential of the Indian market. Days after the agreement was finalised in New Delhi, Luxon pointed to India’s emergence as the world’s most populous nation and a rapidly expanding consumer economy.“This deal is extremely exciting for New Zealand. It’s going to create jobs, lift wages a…
Patna, April 23 (IANS) A political controversy has erupted in Bihar following the state government’s decision to develop satellite townships in 11 cities, including Patna. As part of the plan, the NDA government has imposed a temporary ban on the purchase and sale of land in the identified areas, triggering sharp reactions from Opposition leaders.Rohini Acharya, daughter of RJD supremo Lalu Prasad Yadav, strongly criticised the move, calling it shocking and difficult to understand.In a post on…
New Delhi, April 22 (IANS) India’s economy has developed strong resilience to high energy prices and is capable of sustaining growth above 7 per cent even if crude oil costs remain in the range of $90–100 per barrel, Assocham said on Wednesday.The industry body noted that over the past two and a half decades, India has successfully absorbed multiple oil price shocks without derailing its growth trajectory.Data analysed for the period from 2000-01 to 2025-26 shows that some of India’s stron…