April 23, 2026

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INDIAN ECONOMY

India can grow above 7 pc even if crude oil costs USD 90-100/barrel: Assocham

The Indian economy, largely driven by consumption, has the potential to grow over 7 per cent annually even if crude oil costs USD 90-100 per barrel, industry body Assocham said on Wednesday. India's resilience to high energy costs has increased significantly over the years, as the country has absorbed seve...

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Iran war, oil shock fail to dent India’s private sector growth as April PMI rises

India’s private sector activity accelerated in April despite disruptions from the Middle East conflict pressuring costs and raising oil prices, with manufacturing and services rebounding after a brief cooling, a flash survey showed on Thursday. HSBC’s flash India Composite Purchasing Managers’ Index (PMI),...

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India to purchase fertilizer at nearly double pre-war price

India, the world’s top importer of urea, has agreed to buy the nitrogen-based fertilizer at sharply higher prices than in a previous tender as the Middle East conflict disrupts supplies and pushes global benchmarks higher. Indian Potash Ltd., which imports the crop nutrient for the government, will secure ...

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India's digital currency push targets its leaky welfare system

In the western Indian village of Phulenagar, Samadhan Sonawane set up a drip irrigation system on his small onion farm using digital currency issued directly from the central bank. The funds come from a pilot programme that is part of India's efforts to boost its e-rupee, a central bank digital currency (C...

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HSBC downgrades India to 'underweight' as oil clouds outlook

HSBC downgraded Indian equities to "underweight" from "neutral" - its second cut in less than a month - as it expects surging energy prices triggered by the Middle East war to threaten the durability of the country's earnings recovery. Brent crude is up 42% since the war started ?in late February ?and ?is ...

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SBI Research projects fiscal deficit at 4.6% of GDP amid subsidy hikes and excise losses

State Bank of India’s (SBI) Ecowrap report has highlighted mounting challenges to the Centre’s fiscal math for the FY27, estimating the gross fiscal deficit at 4.6% of gross domestic product (GDP), higher than the budget estimate of 4.3%, due to additional spending on subsidies, excise duty cuts, and economic...

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GLOBAL ECONOMY

Economic Turbulence and Rate Hikes Could Jeopardise France's Deficit Efforts, Fiscal Watchdog Warns

Uncertain economic conditions and ?possible ?changes in interest rates ?could throw France's effort to trim its deficit to ?3% of output by 2029 into doubt, France's fiscal watchdog said on ?Wednesday. The conflict in the Middl...

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Turkey Central Bank Holds Rates at 37% as It Eyes Iran War Fallout

Turkey's ?central ?bank held its key interest rate ?at 37% as expected on Wednesday, deciding not to hike but warning ?that fallout from the Iran war could yet change the inflation outlook. It was the second straight policy mee...

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UK Consumers Turn Gloomiest About Economy Since Records Began in 1978

British consumers are gloomier about ?the ?economy than at any ?time since records began in 1978, according to a ?survey published on Wednesday that showed the Iran war and soaring oil prices ?are taking a heavy toll ?on British h...

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Germany Halves 2026 Growth Forecast, Raises Inflation Outlook Amid Iran War

Germany's economy ministry cut its growth forecasts for ?2026 ?and 2027 and raised its inflation projections on Wednesday, ?as the Iran war drives up oil and gas prices. The government now expects 0.5% growth for 2026, down ?fr...

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South Korea's Q1 GDP Growth Roars Past Market on Booming AI-Driven Chip Demand

South Korea's economy delivered its fastest growth ?in ?nearly six years last quarter, smashing forecasts ?as booming chip exports rode a global surge in AI investment, though rising risks from the Middle ?East war threaten to cut...

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Japan's Factory Activity Expands at Strongest Pace in 4 Years, PMI Shows

Japan's manufacturing activity ?expanded ?at its strongest pace ?in four years in April as firms boosted ?production over concerns about potential supply shortages due to rising tensions in ?the Middle East, a ?private-sector surv...

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New Zealand Says Oil Shock Delays Economy's Recovery but Does Not Derail It

New Zealand's ?economic recovery has been delayed but not derailed, ?Finance Minister Nicola Willis said on Thursday after the Iran conflict ?lifted fuel costs and ?dented business and consumer sentiment. Willis said Treasury's...

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