Economy

FinMin Predicts 7% GDP With Moderate Inflation In FY23

April 28, 2023

In the fiscal year 2022-23, India’s economy is expected to grow at 7 per cent while retail inflation would moderate despite global headwinds, said the Finance Ministry on Monday. It would be in line with wholesale inflation which fell to a 25-month low in January. India’s current account

Economy

South Korea Economy Grows in Q1, Avoids Recession

April 27, 2023

South Korea’s economy grow in the first three months of this year, avoiding the country’s first technical recession since 2020. GDP increased 0.3% from the previous quarter in the January-March period, following a 0.4% contraction in the fourth quarter of last year. The average expectation from 16 economists polled by Reuters was for 0.2% quarterly […]

Economy

India Jumps 6 Places To Rank 38 In World Bank’s Logistics Performance Index 2023

April 26, 2023

India improves in the logistics ranking of the World Bank by jumping 6 places to Rank 38 out of 139 countries in the 7th edition of Logistics Performance Index (LPI 2023). India has been taking numerous initiatives since 2015 under the visionary leadership of the Prime Minister Narendra Modi to improve its logistics efficiency. The […]

Economy

Pakistan Economic Recovery Rests On Resuming Robust Reforms

April 23, 2023

Pakistan’s economic growth is expected to slow significantly in FY2023 (ends 30 June 2023) in the wake of last year’s devastating floods, ballooning inflation, a current account deficit, and an ongoing foreign exchange crisis, the Asian Development Bank (ADB) said in a report today. According to the Asian Development Outlook (ADO) April 2023, ADB’s flagship […]

Economy

The World Bank Raises Its Global Growth Forecast For 2023 On China’s Recovery

April 23, 2023

David Malpass, Group President of World Bank announced that, the lender has raised its global growth forecast for 2023 to 2 percent from 1.7 percent in January due to China’s rebound. According to Reuters, Malpass attributed the upward revision to an improved outlook after China adjusted its COVID-19 pandemic response, with growth in the country […]

Economy

ADB, TATA Power Sign Deal to Enhance Delhi’s Power Distribution

April 19, 2023

The Asian Development Bank (ADB) and Tata Power Delhi Distribution Limited (TPDDL), the distribution arm of Tata Power Co Ltd (Tata Power), entered into an agreement to subscribe to non-convertible debentures for 1.5 billion Indian Rupees (equivalent to $18.2 million) to enhance Delhi’s power distribution through grid enhancements, and a $2 million grant to partially […]