INDIAN ECONOMY
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"Free is the most expensive word in public policy," Chief Economic Advisor (CEA) V Anantha Nageswaran said on Monday, warning that building infrastructure on the promise of below-cost services is a contradiction that ultimately ruins economic balance sheets.
Addressing the CII Tamil Nadu Infrastructure Sum...
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India and Uzbekistan should aim to double their bilateral trade to around $3 billion over the next three years, Commerce and Industry Minister Piyush Goyal said on Monday, while also indicating that the two countries could explore a free trade agreement (FTA) to deepen economic ties.
Meanwhile, the Uzbekis...
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The biggest economic gains for India now lie in fixing domestic regulations rather than signing more trade deals, according to consultancy firm Competere’s CEO Shanker Singham. In an interview with FE’s Manu Kaushik, he said India could unlock about $174 billion over five years by easing investment restrictio...
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The Monetary Policy Committee (MPC) is expected to leave the repo rate unchanged at 5.25% at its review next week, an FE poll of economists has found. The Reserve Bank of India (RBI) is also likely to retain its “neutral” stance while adopting a cautious—rather than hawkish— tone amid rising inflation risks. ...
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The decision to permit FDI in an inventory-based e-commerce model only for export purposes will give a major boost to the shipments of handicrafts and ODOP goods, an official said.
One District One Product (ODOP) is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) for pr...
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The Reserve Bank of India (RBI) is expected to keep the benchmark repo rate unchanged in its August monetary policy review on elevated inflation risks and pending the closure of the FCNR(B) deposit scheme, a poll of 10 economists and treasury heads has revealed.
Most respondents anticipate that the central...
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Andhra Pradesh and Australia on Sunday signed four MoUs covering clean energy, advanced manufacturing, inclusive education, student mental health and skill development, marking a significant expansion of bilateral cooperation in these sectors.
The agreements were signed in the presence of Andhra Pradesh Ed...
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In a significant early fiscal transfer aimed at supporting state spending, the Union government on Saturday (August 1) released an additional Rs 1,09,019 crore as tax devolution to state governments, advancing the due monthly instalment.
The Centre said the move is meant to strengthen state finances and gi...
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More than a tariff-cutting pact, the India–New Zealand Free Trade Agreement (FTA) is being viewed as a catalyst for investment, innovation and deeper business partnerships, with industry leaders urging companies to move quickly to capture emerging opportunities....
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Earlier this week, the US Senate took steps toward passing a law that would allow the US president to impose tariffs on countries importing Russian energy. Tariffs could be as high as 100%. The two largest buyers of Russian energy are India and China. To be clear, the law allows the president to impose 100% t...
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MARKET & FINANCE
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Two months after the Reserve Bank of India (RBI) unveiled a package of measures to attract foreign currency, the numbers are beginning to look extraordinary. Banks have already mobilised more than $36 billion through FCNR(B) deposits, while other special borrowing windows have added billions more, totalling n...
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After months of sustained selling, foreign investors are beginning to turn more positive on India, with equities now "probably oversold", Motilal Oswal Financial Services chairman Raamdeo Agrawal said on Saturday, even as he warned that geopolitical uncertainties and elevated oil prices continue to cloud the ...
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Foreign portfolio investors (FPIs) made their comeback to Indian equities in July after staying away for four consecutive months, emerging as net buyers with investments worth Rs 20,200 crore. Attractive valuations, improving corporate earnings and a better global investment environment helped bring foreign i...
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India’s strict regulatory firewall on investments from neighboring nations has reduced Chinese Foreign Direct Investment (FDI) in the country to a trickle, with just a single proposal worth Rs 1 crore ($0.11 million) receiving government approval in 2025–26. This signals how important the recent relaxations i...
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GLOBAL CORPORATE
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Bumper oil refining profits triggered by the Iran war are turbocharging Big Oil's earnings, breathing new life into a business many investors had largely written off. The sector looks poised to produce unusually strong returns for several years, but long-term structural changes in oil consumption mean refinin...
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Chinese AI firm Moonshot has a computing agreement with Alibaba Group for the use of about 20,000 Nvidia chips, Bloomberg News reported on Friday, citing people familiar with the matter....
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Chinese electric vehicle maker BYD's global sales rose for a third straight month in July, with robust overseas demand continuing to help offset softer conditions in its home market....
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RBI
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The Reserve Bank of India (RBI) has revised the rules governing interest rates on bank deposits, introducing new disclosure requirements for bulk deposits and giving banks greater flexibility in determining their interest rates. Here's what the revised rules mean for banks and depositors.
The revised directi...
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The Reserve Bank of India (RBI) has overhauled rules governing bulk deposits, allowing banks to offer differential interest rates based on liquidity risk under the Liquidity Coverage Ratio (LCR) framework while mandating daily public disclosure of bulk deposit rates to improve transparency.
The revised instr...
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Banking
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Despite tax and regulatory hurdles in some markets, Indian banks have raised $36.73 billion via FCNR(B) deposits under a special Reserve Bank of India (RBI) swap scheme, with the flows understood to be coming in mostly from West Asia.
A total of $40.82 billion in foreign exchange has been received until J...
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GLOBAL ECONOMY
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Russia's manufacturing sector expanded at its quickest pace in 18 months in July as stronger domestic demand lifted output and new orders, a business survey showed on Monday.
The S&P Global Russia Manufacturing Purchasing Manag...
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The World Bank on Monday maintained its 2026 growth forecast for the Philippines at 3.7% and said the economy's recovery next year was likely to be slower than previously expected.
• "Growth is set to decelerate in 2026 on the...
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Turkey's manufacturing sector contracted again in July as subdued market conditions and weaker domestic and international demand led firms to cut output and jobs, a business survey showed on Monday....
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Hungary's seasonally-adjusted Purchasing Managers' Index (PMI) edged down to 51.4 in July from a revised 51.6 in June, the index publisher said on Monday.
The July figure fell short of a long-term monthly average of 52.6 but wa...
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Swiss annual inflation eased by a tenth of a percentage point in July, in line with analysts' expectations, as the overall cost of petroleum products came down compared to the previous month, official data showed on Monday....
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France's manufacturing sector contracted in July as declines in output and new orders accelerated, a business survey showed on Monday.
• The S&P Global France Manufacturing Purchasing Managers' Index (PMI) fell to 49.8 in July ...
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Spain's manufacturing sector returned to marginal growth in July, even as output and new orders Fell again amid market uncertainty and Middle East-related supply disruption, a business survey showed on Monday....
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Germany's manufacturing sector enjoyed a strong start to the third quarter as business activity expanded in July at its joint-strongest pace since May 2022, helped by faster output growth and a rebound in export sales, a survey sh...
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Euro zone household consumption fell sharply in the early weeks of the Iran war as confidence tumbled, suggesting that renewed conflict could again thwart consumer spending, a European Central Bank Economic Bulletin article said o...
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Euro zone factory output surged at its fastest pace in nearly four-and-a-half years in July but growth was largely driven by firms clearing order backlogs rather than rising demand, pointing to a fragile recovery, a survey showed....
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Global AI-related demand may exert lasting upward pressure on Japan's inflation, the Bank of Japan said on Monday, signalling its alarm over mounting inflation risks that could boost the case for a near-term interest rate hike....
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British manufacturing activity expanded for a ninth straight month in July but at the slowest pace in four months, according to purchasing managers' data on Monday that points to a renewed impact from the Iran war towards the end ...
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Japan’s finance ministry confirmed on Monday that it had carried out coordinated yen-buying intervention with the United States, and warned that both countries stand ready to act again to stem the currency’s slide to fresh 40-year...
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U.S. consumer sentiment improved in July, though concerns about the higher cost of living lingered, a survey showed on Friday....
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South Korea's exports grew more strongly than expected in July on global chip and computer demand for AI investments....
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Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington took joint action in the currency market to arrest the yen's slide to 40-year lows, two Japanese government officials told Reuters....
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INDIAN CORPORATE
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Coal India on Saturday said the company's coal production in July rose 8.4% year-on-year to 50.36 million tonnes. It also saw an 18.4% rise in coal supplies to 64.19 million tonnes.
The coal supplied in July marks the highest-e...
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Essar Group is marking 15 years of ownership of the UK's Stanlow manufacturing complex, saying it has invested 1 billion pounds in upgrading the refinery since acquiring the site in 2011 and is now pursuing a GBP 4.3 billion pipel...
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India has proposed extending tax exemptions until 2041 for foreign companies that provide machinery to contract manufacturers, handing a major win to Apple which had lobbied for such changes, and is fast expanding in the market.
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Vikram Solar is building a dedicated global business vertical and exploring local manufacturing partnerships overseas as part of a Rs 15,000-16,000-crore expansion that will extend its operations from solar modules to cells, wafer...
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Tata Trusts will sharpen its focus on healthcare and education as it enters its next phase, chairman Noel Tata said Sunday, outlining a strategy centred around building institutions with long-term social impact while ensuring phil...
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With its capital adequacy ratio exceeding 18 per cent, Punjab National Bank has no immediate plans to monetise its subsidiaries, the bank's Managing Director and CEO Ashok Chandra said, adding that the lender will instead focus on...
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Coal India Ltd supplied a record 64.19 million tonnes of coal in July, up 18.38% from a year earlier, as higher dispatches to power plants and non-regulated consumers helped the state-owned miner maintain strong offtake despite mo...
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Gold loan-focused NBFC Muthoot Finance on Saturday reported a 25% year-on-year rise in standalone net profit to Rs 2,550 crore for the quarter ended June 2026 (Q1FY27), driven by robust gold loan disbursements and higher interest ...
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