Posts

PM Modi recalls India's ‘Fragile Five’ era

Prime Minister Narendra Modi on Saturday recalled a time when India was counted among the world’s “Fragile Five” economies, with weak GDP growth, high inflation and a record current account deficit, as he contrasted the country’s economic position then with its trajectory since.Speaking at the centenary celebrations of Shri Ram College of Commerce (SRCC), Modi said the economic conditions in 2013 were marked by widespread concerns over growth, inflation and policy paralysis.Also Read: The ‘naraaz fufa’ of politics: Modi’s latest dig at habitual critics“The world was counting India among the "Fragile Five,"” Modi said, referring to the period when India’s economic vulnerabilities were drawing global attention.He said the economic challenges were reflected in several key indicators.“The World Bank had lowered its GDP growth forecast. The current account deficit was at an all-time high. Inflation was around 10 per cent,” Modi said.“The industrial sector was in the grip of a slow...
Post a Comment
Read more

US-Russia contacts beneficial, talks begin: Putin

from Economic Times https://ift.tt/x68VkQT
Post a Comment
Read more

Strong jobs report fuels Fed rate hike prospects as Trump escalates rate cut pressure

A stronger-than-expected U.S. jobs report has put a September interest-rate hike back firmly on the table, leaving Federal Reserve Chair Kevin Warsh facing a difficult choice as President Donald Trump intensifies his demands for lower borrowing costs, Reuters reported.U.S. employers added 162,000 jobs in August, nearly three times what economists had expected, while the labor force participation rate rose to 61.6%. More people moved from the sidelines directly into jobs, helping keep the unemployment rate at 4.1% even as the pool of available workers expanded.The report strengthens the argument for the Fed to raise rates at its Sept. 15-16 meeting, particularly after Warsh last week said he needed confidence that inflation was moving back toward the central bank's 2% target "clearly and at sufficient speed. Otherwise, we have work to do."But the stronger labor market data arrives as Trump steps up pressure on the central bank."The Fed Board, with its great new leader...
Post a Comment
Read more

A Michigan farmer reclaimed his family’s 131 acres

from Economic Times https://ift.tt/3lU1pAK
Post a Comment
Read more

Slice closes $100M round; valuation more than halves

from Economic Times https://ift.tt/cdCnuxi
Post a Comment
Read more

300-year-old mystery of a ‘vampire’ burial

from Economic Times https://ift.tt/awtkWN8
Post a Comment
Read more

A bigot gets a taste of his own medicine

Few metaphors are as ironic as 'the shoe is on the other foot'. It conjures images of smug moralists or barking bigots suddenly discovering a giant corn on their feet. Enter Milo Yiannopoulos, once the British enfant terrible of right-wing provocation, Trump fanboy, ex-editor of Breitbart News, and defender of deportation (especially of Somali refugees), now terrified of deportation by ICE - after he was deported from the US back to Britain by ICE.If irony were a sport, this would be that Messi (own) goal. Yiannopoulos now wants our solace. 'I didn't really understand the physical reality of how institutionalised the brutality is in America,' he said this week. Yes, he didn't quite understand why he - White and far right - of all volk, got booted out by brown shirts in tactical vests. He's not even Black, let alone an illegal immigrant!Saturn can, indeed, devour his own children. This applies to everyone whose opinions are stronger than kitchen mustard. You ...
Post a Comment
Read more