December 30, 2024December 30, 2024 India’s economic growth slowed to 5.4% in the July-September quarter, marking a seven-quarter low and prompting concerns over prospects. The surprise drop led the Reserve Bank of India (RBI) to revise its growth forecast for 2024-25 from 7.2% to 6.6%. The slowdown in India’s…
Foreign investors pulled out Rs 21,612 crore (USD 2.56 billion) from the Indian equity market in November, mainly due to the rising US bond yields, strengthening dollar and expectation of a slowdown in the domestic economy. While the sell-off continues, the quantum of net outflow significantly reduced compared to October, when FPIs recorded a massive…
Rising interest burden and lower growth in operating profit have taken a toll on the interest coverage ratio of India Inc at the aggregate level. For a sample of 1,950 companies excluding those in the banking and finance sector, it fell to a seven quarter low of 4.8% in the September quarter. It was 5.7%…
The Swiss National Bank (SNB) has taken yet another bold step in 2024, announcing its third interest rate reduction this year. The latest cut of 25 basis points brings the key interest rate down to 1.0%, marking a significant shift in the bank’s monetary policy. As Switzerland faces subdued inflation and a surging Swiss franc,…
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Bitcoin reached an intraday peak of $63,227 on Thursday, following the U.S. Federal Reserve’s decision to lower the benchmark interest rate by 50 basis points the previous day. The entire cryptocurrency market has gained over 5%, and in the past 24 hours, global trading volume jumped by 26.92%. Crypto Market Surges 5%, Stocks Rise, Gold…
European shares closed higher on Thursday, boosted by banking, technology and healthcare stocks, though they finished below session highs after the European Central Bank cut lending rates for the first time since 2019 but left the timing of future moves unclear. The pan-European STOXX 600 closed 0.7% higher, off record high levels hit earlier in…
The European Central Bank cut its key interest rate Thursday by a quarter point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs – a shift with far-reaching consequences for home buyers, savers and investors. The ECB cut its benchmark rate to 3.75% from a record…