EU announces $1 bn in aid for Lebanon to shore up economy, border security
The Economic Times » Financial Crisis
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1w ago
EU chief Ursula von der Leyen announced $1 billion in aid for Lebanon during a visit, aiming to boost the country's socio-economic stability amid a severe economic crisis. The aid will support basic services like education and health. Von der Leyen also urged Lebanon to tackle illegal migration, emphasizing the EU's commitment to legal pathways to Europe while seeking Lebanon's cooperation in preventing illegal migration and combating smuggling. Lebanon hosts around two million Syrian refugees, facing challenges exacerbated by its economic collapse and political turmoil ..read more
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‘Taarak Mehta’ star Gurucharan Singh’s last Insta post was a selfie with dad: What the actor’s father said about his missing son?
The Economic Times » Financial Crisis
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1w ago
As per a report by News 18, the actor misplaced his phone in the Palam area and was spotted on CCTV footage traveling in an e-rickshaw. Having been absent since April 22, he withdrew Rs 7,000 from an ATM. It's been over two weeks since he was last seen. He was en route from Delhi to Mumbai ..read more
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"Bengaluru, a tech-city has turned into tanker city": PM Modi attacks Congress government
The Economic Times » Financial Crisis
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1w ago
Stating that the people of Karnataka are regretting now having brought the Congress party to power in the state, Prime Minister Narendra Modi in an interview with News18, said that the party has turned a "tech-city" into a "tanker city", in what was a jibe at the water crisis faced by the city ..read more
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Careful with long-term financial cycles
The Economic Times » Financial Crisis
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1w ago
A long-term financial cycle has coincided with, and bolstered, the current investment cycle. That's good and bad news for India's growing economy. The outcome is a higher investment-to-GDP ratio. But there is need for caution. If the financial cycle runs ahead of the business cycle unchecked, eventual stresses could be severe, worsening the inevitable downturn ..read more
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No jobs, no future: In Canada, drugs are Indian students’ last resort
The Economic Times » Financial Crisis
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1w ago
The grim reality of hefty education loans and joblessness in the land they once hoped would offer prosperity has ensnared numerous Indian students in Canada in a vicious cycle of cocaine, marijuana and liquor as a coping mechanism for unemployment-induced stress ..read more
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India to remain global growth driver in foreseeable future: IMF executive director
The Economic Times » Financial Crisis
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3w ago
Krishnamurthy V Subramaniam, Executive Director of the IMF, predicts India will remain a key driver of global growth, citing consistent 7%+ growth post-COVID. He forecasts 8% growth in Q4, considering the global economic situation. The IMF revised India's 2024 growth projection to 7.8%. Subramaniam highlights India's digital infrastructure as a model for the Global South, emphasizing its role as a public good. He dismisses critics of India's GDP growth, citing statistical experts' trust in the numbers. Subramaniam also addresses Thomas Piketty's report on income inequality, presenting contrast ..read more
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Rs 3 lakh cr m-cap wiped off! Sensex plunges 600 pts, gives up 72K as Mideast conflict intensifies
The Economic Times » Financial Crisis
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3w ago
Benchmark equity indices open lower mirroring Asian markets on geopolitical tensions. Sensex down 598 points, Nifty50 down 181 points. Infosys lags with 3% decline, lower annual revenue forecast. NTPC, L&T, Axis Bank, Power Grid down ..read more
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"Congress made Karnataka bankrupt in name of guarantee": Basavaraj Bommai
The Economic Times » Financial Crisis
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3w ago
While addressing a press conference on Sunday, Karnataka's former chief minister and Gadag-Haveri Lok Sabha constituency's BJP candidate, Basavaraj S Bommai, slammed the Congress party and alleged that the party, without any preparation, made the state bankrupt in the name of guarantee ..read more
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Not activating counter-cyclical capital buffer, says RBI
The Economic Times » Financial Crisis
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3w ago
The Reserve Bank of India (RBI) has decided against activating the countercyclical capital buffer (CCyB) due to its current circumstances. The CCyB, introduced in 2015, requires banks to build a capital buffer to maintain credit flow in difficult times and restrict lending during periods of excess credit growth. The RBI has not used the provision since its introduction in 2015. The CCyB was initially proposed in response to the 2008 global financial crisis ..read more
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Indian company to manage Sri Lanka's China-funded airport
The Economic Times » Financial Crisis
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3w ago
Sri Lanka plans to transfer management of its Chinese-built Mattala Rajapaksa International Airport to Indian and Russian companies to mitigate losses. The airport, funded by China EXIM Bank, has faced operational challenges since 2013. Sri Lanka is also seeking to restructure its loan with China EXIM Bank amid financial crisis ..read more
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