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India’s middle, slightly affluent class to account for 93% of consumption by 2036: Sitharaman
Finance Minister Nirmala Sitharaman on Friday said India's middle-class and slightly affluent class will account for 93% of the country's consumption by 2036 due to the tax relief and welfare measures implemented by the government that have aided to boost the spending capacity of the population....
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Nearly 500 cities set to become next economic hubs: FM Sitharaman
Finance minister Nirmala Sitharaman on Friday described the middle class as the growth engine of India and said nearly 500 cities are poised to emerge as the country's next centres of economic activity.
Participating in a panel discussion on 'How to promote the rise of a new middle class' nearly ...
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Sri Lanka is now upper middle income. Why India stays put despite a booming economy
The World Bank has moved Sri Lanka back into the upper-middle-income category, marking a significant milestone in the island nation's recovery from its devastating 2022 economic crisis. Vietnam and the Philippines have also been upgraded, reflecting years of sustained economic expansion....
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HUDCO to provide up to $10.50 billion loan for Bihar infrastructure projects
Housing and Urban Development Corporation (HUDCO) on Friday signed a preliminary agreement with Bihar to provide up to 1 trillion rupees ($10.50 billion) in l
oans for urban infrastructure projects, in one of the country's largest state-level infrastructure financing deals.
The loans will be ext...
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India has got a $5 trillion sleeping giant: Can govt wake it up?
India's obsession with gold has always been viewed through two very different lenses. For households, it is a store of wealth and a hedge against uncertainty and also a symbolic asset passed down generations. For policymakers, it is also a recurring macroeconomic headache because almost all the gold...
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Operationalising GST refunds for foreign tourists to promote retail exports: FIEO
Exporters' body FIEO on Friday urged the government to operationalise goods and services tax (GST) refunds for foreign tourists to promote tourism and retail exports.
It said that Section 15 of the Integrated Goods and Services Tax (IGST) Act, 2017, provides for a GST refund mechanism for foreign...
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India, France co-chair Economic & Financial Dialogue, agree to deepen cooperation on critical minerals
Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman and Roland Lescure, Minister of Economy, Finance, Industrial, Energy, and Digital Sovereignty of France, co-chaired the India-France Economic and Financial Dialogue in Aix-en-Provence on Friday, the Ministry of Finance said.
The M...
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India-Israel bilateral investment pact comes into force
The India-Israel Bilateral Investment Agreement (BIA) which was signed in September last year, came into force into Saturday.
"The Bilateral Investment Agreement (BIA) between the Government of the Republic of India and the Government of the State of Israel signed on 8th September 2025 in New Del...
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India aims for $1 trillion exports this fiscal year, says Piyush Goyal
India has set its sights on achieving $1 trillion in exports this financial year, with Union Commerce and Industry Minister Piyush Goyal outlining an ambitious roadmap that hinges on strong growth in both merchandise and services exports.
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Export recovery extends beyond petroleum: GTRI
India’s export performance has improved sharply after a weak period between December and March, think tank GTRI said, adding that the more encouraging sign is that the recovery extends beyond petroleum. “Exports excluding petroleum grew 9% in April and 11.9% in May, reversing a 9.2% contraction in M...
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FM Sitharaman says India’s middle class is driving growth through rising consumption
Union Finance Minister Nirmala Sitharaman on Friday said India’s expanding middle class has become the “engine of growth”, with household consumption playing a key role in supporting the country’s post-pandemic economic momentum.
Speaking at a session on “How to promote the rise of a new middle c...
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‘Goods exports up 15% in Apr-June’, says Piyush Goyal
India’s merchandise exports rose by more than 15% year-on-year in the April–June quarter of this financial year, while services exports grew 11% in the same period, Commerce and Industry Minister Piyush Goyal said on Friday.
In the corresponding quarter of the previous financial year, merchandise...
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From $68 billion to $199 billion by FY30: How GCCs are becoming India’s next big economic engine
Global Capacity Centres (GCCs) in India are presently witnessing a sizable boom. Figures posted by CII, NASSCOM and Deloitte via its latest report titled ‘India’s strategic GCC play for Japanese enterprises’ confirms the same.
India’s GCC sector, which had a direct gross value added contribution ...
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| Global Economy |
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Russia's Services Downturn Deepens as New Business Falls at Fastest Pace Since December 2022, PMI Shows
Russia's services sector contracted further in June as weaker client demand drove steeper falls in output and new orders, a business survey showed on Friday.
The S&P Global Russia Services PMI Business Activity Index fell to 48.2 in June from 48.7 in May, a survey by S&P Global showed. The 50-mar...
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Spain Services Growth Hits 2026 High in June, PMI Shows
Spain's services sector expanded at its strongest pace this year in June as activity and new business rebounded on stronger domestic demand, a business survey showed on Friday.
The Spain Services PMI Business Activity Index rose to 54.2 in June from 50.1 in May, according to the survey by S&P Glo...
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Kenya Private Sector Activity Picks up in June, PMI Shows
Kenya's private sector activity picked up in June, breaking a run of three previous monthly contractions, a survey showed on Friday.
The Stanbic Bank Kenya Purchasing Managers' Index rose to 50.0 in June from 46.6 a month earlier. Readings above 50.0 indicate growth in business activity, while th...
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Italy Service Sector Returns to Growth as Cost Pressures Ease, PMI Shows
Business in Italy's service sector grew marginally in June after three months of contraction, a survey showed on Friday, as cost pressures eased amid signs of de-escalation in the conflict in the Middle East. ...
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French Services Sector Contracted in June by More Than Forecast, PMI Shows
France's services sector contracted in June by more than initially forecast, as sluggish demand and inflationary pressures weighed on businesses, said a survey by S&P Global....
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Germany Services Contraction Eases in June as Cost Pressures Cool, PMI Shows
Germany's services sector contracted for a third straight month in June as weaker demand, dragged down by higher prices and lower market confidence, continued to weigh on activity, a survey showed on Friday....
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Euro Zone Services Sector Contraction Eased in June as Inflation Cooled Sharply, PMI Shows
The euro zone services industry contracted at a slower pace in June as cost pressures fell at the sharpest rate on record outside of pandemic-era lockdowns, helping to stabilise the broader economy after two months of decline, a survey showed....
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Britain's Services Sector Contracts Sharply Under Strain of Iran War, PMI Shows
Activity in Britain's dominant services sector contracted for a second month running in June and by the most since early 2023 as the fallout from the Iran war continued to weigh on companies, a closely watched survey showed on Friday....
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US unemployment rate drops to 4.2% though employers added 57,000 jobs
The US unemployment rate fell to 4.2% in June from 4.3% in May, even as employers added fewer jobs than expected. According to the US Bureau of Labor Statistics (BLS), nonfarm payrolls increased by 57,000 jobs in June, well below the 110,000 jobs economists had expected in a Reuters poll....
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| Market & Finance |
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India's forex reserves fall $5.65 billion to $666.93 billion in week ended June 26
India's foreign exchange reserves declined by $5.65 billion to $666.93 billion in the week ended June 26, 2026, according to data released by the Reserve Bank of India (RBI) on Friday.
The drop in the reserves came after it rose by $963 million to $671.63 billion in the earlier week ended June 19...
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Forgotten FDs, shares or insurance? Here’s how to recover unclaimed financial assets
People spend years carefully building wealth through fixed deposits, mutual funds, insurance policies and shares. But life has a way of getting in the way. Investors move cities, change banks, forget old investments or simply lose track of paperwork. Sometimes, the original investor passes away with...
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Explained: How India's bond market became more accessible over the last 10 years
India's bond market today looks vastly different from what it did a decade ago. Once dominated by institutional investors and traditional debt issuances, the market has steadily evolved into a broader ecosystem supported by regulatory reforms, digital platforms, innovative products and a growing poo...
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Global wealth grew 10.8% in 2025, but it was the world’s richest who emerged as the biggest winners
On paper, 2025 was a spectacular year to be alive, personal wealth around the world climbed at its fastest clip since 2017, due to roaring stock markets and soaring asset prices. But peel back the headline number, there is an interesting story.
According to UBS’s latest Global Wealth Report, most...
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Source - Yahoo India Finance @ 08:07 |
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| Global Corporate |
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Nvidia offers revenue sharing model to help Al growth
Nvidia Corp. is looking to expand access to its leading artificial intelligence hardware by supporting Al cloud computing providers in exchange for a share of their future revenue.
The company at the heart of the Al boom will help connect Al data center operators and cloud service providers with ...
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EU Trade With US Hits Record High Despite Tariff Tensions, Study Shows
Trade in goods between the European Union and the U.S. reached a record €875 billion ($1.00 trillion) last year despite tariffs, but the figures mask significant economic damage, notably to Germany's auto sector, a study published on Friday found.
The research by the German Economic Institute, or...
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SAP tightens hiring, travel spend as it ramps up AI investments
German software major SAP is tightening hiring, travel and third-party spending as it steps up investments in artificial intelligence, according to an internal email sent to employees, according to a Shilpa Phadnis’ TOI report.
In the email, SAP said the rapid pace of AI adoption is driving signi...
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US oil companies see big jump in profit
US oil companies are set to report their strongest quarterly profits in years, courting a possible clash with President Donald Trump, who has been pressing his longtime ally Big Oil to bring down gasoline prices before midterm elections in November. After months of Americans complaining about pain a...
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Energy-hungry Asia is already drawing lessons from Iran crisis
There is still no lasting peace deal in the Persian Gulf, but energy-hungry Asia is already drawing energy lessons from four months of war: it needs bigger buffers, a greater diversity of fossil-fuel suppliers, and a better mix of power sources overall.
Flows of oil and natural gas have been return...
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US must 'accept existing realities' on trade: Iranian Parliament Speaker Ghalibaf
Iranian Parliament Speaker Mohammad Bagher Ghalibaf has said that the United States must accept that realities have changed following the Israeli-US conflict with Iran, during his meeting with Uzbekistan's speaker of parliament, as reported by Al Jazeera.
"Conditions have improved compared to the...
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