Washington, April 15 (IANS) US President Donald Trump has said the conflict with Iran is “close to being over”, asserting that a blockade of Iranian ports is now fully in place and that Tehran has been “hit very hard” amid escalating tensions over its nuclear ambitions. In an interview to Fox News at the White House, Trump said the US response had triggered a strong reaction. “Well, it’s been pretty amazing actually… we’ve obliterated them,” he said, adding that the outcome would d…
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Washington, April 15 (IANS) The global economy is facing a sharp slowdown and rising inflation risks as the war in the Middle East disrupts energy supplies, the International Monetary Fund (IMF) warned on Tuesday, signalling heightened uncertainty for policymakers and markets.Presenting the latest World Economic Outlook, IMF Chief Economist Pierre-Olivier Gourinchas said the conflict has “halted” earlier growth momentum and raised the risk of a major energy shock, with oil and gas prices sur…
New Delhi, April 14 (IANS) A structural shift in India’s household finances has pushed physical assets, primarily real estate, to almost 70 per cent of household savings from the pre-pandemic average of 58 per cent during FY16-FY20, a report said on Tuesday.Meanwhile, household financial debt has jumped to 6.2 per cent of GDP in FY24, compared to the pre-pandemic average of approximately 4.1 per cent, reducing net financial savings from 7.7 per cent to 5.2 per cent of GDP, the report from mult…
Washington, April 9 (IANS) A global oil shock linked to the Middle East conflict is set to hit growth and stoke inflation across energy-importing economies, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Thursday. In her curtain raiser speech ahead of the Annual Spring Meeting of the IMF, Georgieva said the disruption has cut the world’s daily oil flow by about 13 per cent and liquefied natural gas (LNG) supply by 20 per cent, triggering a broad-based rise…
New Delhi, April 8 (IANS) The US Dollar Index (DXY) slipped sharply on Wednesday, falling more than 1 per cent to around 98.58, as geopolitical uncertainty in the Middle East weighed on global markets.The latest declined put it on track to wipe out the gains it had made earlier in 2026.The drop comes at a time when global investors are closely watching developments in the Middle East.The index, which tracks the strength of the US dollar against a basket of six major currencies, is widely used as…
Seoul, April 5 (IANS) Finance Minister Koo Yun-cheol urged Gulf Cooperation Council (GCC) countries to strengthen cooperation to help stabilise energy and raw material supply chains amid prolonged tensions in the Middle East, the finance ministry said on Sunday.Koo, who also serves as deputy prime minister, met with ambassadors from the six GCC countries in Seoul on Friday at the residence of the United Arab Emirates (UAE) ambassador to discuss economic cooperation, according to the Ministry of …
Mumbai, March 23 (IANS) The second advance estimates of GDP for 2025–26 indicate sustained resilience of the Indian economy even as the conflict in the Middle East and fresh trade investigations by the US have resulted in increased volatility in the global markets, according to the RBI’s monthly bulletin released on Monday.High frequency indicators signal towards India’s economic activity gaining momentum in February. CPI headline inflation picked up in February on account of food and beve…
New Delhi, March 7 (IANS) The ongoing conflict in the Gulf — involving Israel, Iran, and US assets in the region — could have far-reaching economic consequences, including global recessionary pressures, rising inflation and financial market turbulence, a report by SBI Research said on Saturday.However, domestic financial markets have been supported by RBI interventions such as smoothing of G-sec yields and management of rupee volatility.It, however, warned that prolonged conflict could still p…
New Delhi, March 5 (IANS) Policymakers and businesses in Asia must remain agile and financially strong as the world faces more frequent and unpredictable shocks, Kristalina Georgieva, Managing Director of the International Monetary Fund, said on Thursday.Speaking at a conference in Bangkok, Georgieva said the global economy is entering a period of constant uncertainty where countries need to be ready for new challenges that can emerge at any time.She stressed that governments should focus on str…
Mumbai, Feb 6 (IANS) The Reserve Bank of India has raised its real GDP growth projections for Q1 and Q2 of 2026-27 to 6.9 per cent and 7.0 per cent, respectively, RBI Governor Sanjay Malhotra announced on Friday.Explaining the rationale behind the hike in the growth forecast, Malhotra said, looking ahead, sustained buoyancy in the services sector, GST rationalisation, healthy rabi prospects, monetary easing and benign inflation environment should support private consumption. Investment activity,…