The X factor in a country’s prosperity
==========

The 2024 Nobel economics prize awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson for research on societal institutions' impact on prosperity; their work highlights the importance of inclusive institutions over climate, geography, or culture; the richest 20% of countries are 30 times wealthier than the poorest 20%; their findings are based on the book 'Why Nations Fail' (2012); they argue that democratic setups and proper institutions foster investment; Acemoglu notes China's challenge to their argument regarding sustainable growth; their latest book 'Power and Progress' (2023) discusses technology's benefits to elites; the Royal Swedish Academy emphasizes the need for strong institutions to reduce income disparities.

#NobelPrize #Economics #Institutions #Prosperity #DaronAcemoglu #SimonJohnson #JamesRobinson #Inequality #Research #GlobalEconomy

https://www.financialexpress.com/policy/economy-the-x-factor-in-a-countrys-prosperity-3639680/


India joins three more IPEF pacts
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India signed agreements on clean economy (Pillar III), fair economy (Pillar IV), and the overarching agreement of the Indo Pacific Economic Framework for Prosperity (IPEF) on September 22, 2024, in Delaware, USA, during Prime Minister Narendra Modi's three-day visit for the Quad Summit; India opted for observer status in trade talks (Pillar I) and had previously signed Pillar II on supply chain in February 2024; IPEF, launched in 2022, includes 14 member countries representing 40% of world GDP and 28% of global trade; the clean energy pact aims to enhance energy security and reduce fossil fuel dependence, while the fair economy agreement focuses on transparency and anti-corruption measures.

#India #Ipef #Modi #CleanEconomy #FairEconomy #Trade #QuadSummit #InternationalAgreements #SupplyChain #Corruption

https://www.financialexpress.com/policy/economy-india-joins-three-more-ipef-pacts-3618474/


Food price volatility remains a contingent risk: RBI Bulletin
==========

CPI inflation rose to 3.7% in August 2024 from 3.5% in July; India's GDP growth slowed to 6.7% in Q1FY25 from 7.8% in Q4FY24; RBI targets 4% inflation; Private Final Consumption Expenditure increased to 7.4% in Q1FY25; Gross Fixed Capital Formation rose to 7.5% in Q1FY25; Global economic activity is slowing, affecting domestic consumption; E-commerce hiring is increasing ahead of festival season; Food price volatility remains a risk despite easing headline inflation.

#Rbi #Cpi #Gdp #Inflation #FoodPrices #EconomicGrowth #India #Q1fy25 #PrivateConsumption #Ecommerce

https://www.financialexpress.com/policy/economy-food-price-volatility-remains-a-contingent-risk-rbi-bulletin-3617240/


India-US Economic Relations: A Thriving Partnership with Endless Opportunities
==========

India and the US have established a strategic economic partnership; total merchandise trade reached nearly $120 billion in FY24; India’s exports to the US were $77.5 billion, imports totaled $42.2 billion; total trade in services is approximately $59 billion; US is India's largest trading partner; US FDI in India reached $66.7 billion from April 2000 to June 2024; significant cooperation in technology, manufacturing, defence, and biotechnology; iCET initiative launched in 2023 focuses on semiconductors, cybersecurity, AI; MoU on Semiconductor Supply Chain signed; India-US Defence Industrial Cooperation Roadmap concluded in May 2023; Mahindra Group celebrates 30 years in the US; 72 unicorn startups in the US led by Indian-origin founders; partnership includes 'The Quad' with Japan and Australia; sustained engagement needed for future growth.

#India #Us #Trade #Economy #Fdi #Technology #Defence #Partnership #Innovation #GlobalRelations

https://www.financialexpress.com/opinion/india-us-economic-relations-a-thriving-partnership-with-endless-opportunities/3616760/


US Fed rate cut likely to be non-event for IT sector
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The US Federal Reserve, led by Chair Jerome Powell, is expected to announce a rate cut on September 18, 2024, after a two-day FOMC meeting. JM Financial predicts a benign impact on corporate balance sheets, with potential benefits for the IT services sector including lower equity costs, a revival in discretionary demand, and decreased interest burdens. However, the report notes that previous rate-cut cycles coincided with IT services export slowdowns, and current economic conditions differ, suggesting a lower probability of recession. The report emphasizes that while improvements are expected, they will be gradual.

#UsFed #RateCut #ItSector #CorporateBalanceSheet #JmFinancial #JeromePowell #EconomicImpact #DiscretionaryDemand #InterestBurden #Recession

https://www.financialexpress.com/business/industry-us-fed-rate-cut-likely-to-be-non-event-for-it-sector-3614842/


US Stock Market: All eyes on jobs unemployment data - Investing Abroad News | The Financial Express
==========

The August jobs report is highly anticipated following July's unexpected rise in unemployment to 4.3%, up from 3.4% in April 2023; this spike caused market turmoil and concerns about a potential recession; the Federal Open Market Committee (FOMC) meeting is scheduled for September 17-18, 2024; economic data has been inconsistent, with manufacturing and job openings below expectations; however, weekly jobless claims were lower than expected; Tesla's shares have risen over 25% in the last three months, leading the S&P 500; the jobs report will influence Federal Reserve policy and market movements.

#UsStockMarket #JobsReport #Unemployment #FederalReserve #Tesla #EconomicData #Fomc #Recession #Investors #MarketTrends

https://www.financialexpress.com/business/investing-abroad-wall-street-investors-to-focus-on-unemployment-rate-in-august-jobs-data-releasing-today-3603214/


US stock market exchanges holiday, open close timings - Investing Abroad News | The Financial Express
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The NYSE and Nasdaq are closed on September 2, 2024, for Labor Day; they will reopen on September 3, 2024, at 9:30 a.m. ET; August saw the S&P 500 rise 5.65%, Nasdaq up 5.59%, and Dow up 4.59%; Fed Chair Jerome Powell indicates potential interest rate cuts in September; current fed funds rate is 5.25%-5.5%; core inflation rose by 2.6%; September 6 payrolls data will influence the Fed's September 18 meeting.

#UsStockMarket #LaborDay #InterestRates #Nyse #Nasdaq #Inflation #S&p500 #EconomicNews #FinancialMarkets #Fed

https://www.financialexpress.com/business/investing-abroad-are-us-stock-market-exchanges-open-or-closed-today-3598830/


7 ways to bridge the MSME credit gap by banks, other lending institutions
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India has over 64 million MSMEs contributing over 30% of GDP and 44% of exports; MSME credit penetration in India is only 14%, compared to 50% in the US and 37% in China; existing credit gap exceeds $170 billion, with working capital needs projected to reach over $570 billion by 2027; Priority Sector Lending (PSL) mandates banks to allocate at least 40% of Adjusted Net Bank Credit to priority sectors; the MSME Emergency Credit Line Guarantee Scheme disbursed over ₹3 lakh crore to support businesses during Covid-19; a dedicated bank for MSMEs is under consideration; Open Credit Enablement Network (OCEN) aims to enhance credit access for MSMEs; collaboration among banks, NBFCs, and fintechs is essential to bridge the credit gap.

#Msme #CreditGap #India #Finance #Lending #Psl #EconomicGrowth #Fintech #GovernmentSupport #Collaboration

https://www.financialexpress.com/business/sme/7-ways-to-bridge-the-msme-credit-gap-by-banks-other-lending-institutions/3598063/


Could Harris be the next Nixon?
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Kamala Harris's potential foreign policy could mirror Nixon's achievements; Nixon resigned as US president fifty years ago in August 1974; Nixon's anti-communist stance led to a breakthrough with China in 1972; Trump proposes raising tariffs on Chinese imports to 50-60%, which could cost the US economy 1.8% of GDP; Harris likely to continue Biden's containment strategy towards China; Tim Walz, selected as Harris's running mate, has a history with China and advocates for dialogue; Walz's views may influence a more pragmatic approach to US-China relations; The article suggests that a Harris administration could shift from conflict escalation to conflict resolution.

#KamalaHarris #RichardNixon #UschinaRelations #ForeignPolicy #Trump #TimWalz #Politics #Tariffs #Biden #ColdWar

https://www.financialexpress.com/opinion/could-harris-be-the-next-nixon/3589028/


US EB-5 visa annual cap for unreserved category reached for FY 2024
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The US State Department and USCIS announced that all EB-5 unreserved visas for FY 2024 have been issued, reaching the annual limit. The EB-5 annual limit is 7.1% of the worldwide employment limit, with 68% allocated for unreserved categories. The EB-5 Reform and Integrity Act of 2022 allows unused reserved visas from FY 2022 to be available for FY 2024. The annual limits will reset on October 1, 2024, for FY 2025, allowing embassies to resume issuing visas. The EB-5 Immigrant Investor Program was created in 1990 to stimulate the economy through foreign investment.

#Eb5Visa #Immigration #Uscis #Employment #ForeignInvestment #VisaLimits #FiscalYear #EconomicGrowth

https://www.financialexpress.com/business/investing-abroad-america-eb-5-visa-annual-cap-for-unreserved-category-reached-for-fy-2024-3586779/


US Presidential Elections 2024: Impact on your investment strategy, key sectors to watch ahead of November’s vote - Investing Abroad News | The Financial Express
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As the US Presidential 2024 campaign intensifies and Kamala Harris leads in polls, global investors are taking steps to navigate potential market turbulence; According to the latest Morning Consult survey, Harris holds a narrow but significant lead, with 47% of voters supporting her compared to Trump’s 44%; Under a Harris White House, protectionism would likely take on a more targeted form, focusing on specific areas where US industries face unfair competition; Investors with significant exposure to companies dependent on Chinese manufacturing or exports may need to reassess their risk profiles; Harris’s likely emphasis on strengthening alliances and re-entering multilateral trade agreements could benefit sectors that have been destabilized by Trump’s more isolationist policies; The push towards renewable energy is expected to gain considerable momentum under a potential Harris administration; A Harris administration could prioritize expanding access to healthcare and increasing funding for health tech, telemedicine, and pharmaceutical research; Tax policy could change significantly with a Harris presidency, including higher capital gains taxes and increased corporate taxes; Safe-haven assets like US Treasuries and gold may become increasingly attractive as election uncertainty peaks; Building up a cash reserve ahead of the election is a strategic move worth considering

#UsPresidentialElections #InvestmentStrategy #KamalaHarris #MarketTurbulence #Protectionism #TradeAgreements #RenewableEnergy #Healthcare #TaxPolicy #SafehavenAssets #CashReserve

https://www.financialexpress.com/business/investing-abroad-harris-vs-trump-navigating-the-market-volatility-amid-us-presidential-elections-in-november-3584408/


Foreign investors pour Rs 32,365 crore into Indian equities in July
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Foreign Portfolio Investors (FPIs) invested Rs 32,365 crore into Indian equities in July, driven by expectations of continued policy reforms, sustained economic growth, and a stronger-than-expected earnings season. FPIs pulled Rs 1,027 crore from equities during the first two trading sessions of August. The flow of FPI investments has shown mixed trends following the budget announcement, which included an increase in capital gains tax on equity investments. In addition to equities, FPIs invested Rs 22,363 crore in the debt market in July, bringing the total debt market investment for the year to Rs 94,628 crore.

#ForeignPortfolioInvestors #Equities #Investment #PolicyReforms #EconomicGrowth #EarningsSeason #CapitalGainsTax #DebtMarket

https://www.financialexpress.com/market/foreign-investors-pour-rs-32365-crore-into-indian-equities-in-july-3573409/


Singapore leads FDI equity inflows to India in FY 2024, here's top 10 countries investing in India - Economy News | The Financial Express
==========

In FY 2023-24, Singapore emerged as the largest source of foreign direct investment (FDI) into India, despite a 31.55% drop in inflows to $11.77 billion. The total FDI into India fell to $44.42 billion, a 3.49% decrease from the previous year. The US was the third-largest investor in India, contributing $4.99 billion in foreign investments. Following the amendment of the India-Mauritius tax treaty in 2016, Singapore has become the preferred jurisdiction for routing foreign capital into India. The top 10 countries investing in India in FY24 are: Singapore, Mauritius, USA, Netherlands, Japan, UAE, UK, Cyprus, Germany, and Cayman Islands.

#Fdi #Investment #Singapore #India #Economy

https://www.financialexpress.com/policy/economy-fdi-inflows-in-fy24-singapore-top-investor-in-india-mauritius-us-japan-and-netherlands-in-the-list-of-top-5-3566999/


H-1B visa process: Keep STEM Graduates in American Act introduced by Congressman
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Congressman Thanedar has introduced the 'Keep STEM Graduates in America Act' to encourage international students studying STEM courses in the US to stay in the country after their studies. The act proposes changes to the H-1B visa process and aims to increase the number of available visas annually. It also emphasizes the importance of STEM graduates in contributing to innovation and growth in America. The act aims to make staying in the US more accessible for individuals capable of contributing to the industry and economy. Congressman Thanedar, an immigrant himself, understands the importance of keeping talented students in the country and proposes revisions to the visa process to provide more time for finding employment. The Foundation for India and Indian Diaspora Studies supports the bill, as it will benefit Indian and foreign students in finding opportunities to contribute to the US economy.

#H1bVisa #StemGraduates #VisaProcess #CongressmanThanedar #Us #InternationalStudents

https://www.financialexpress.com/business/investing-abroad-the-keep-stem-graduates-in-american-act-proposes-reforms-to-the-h-1b-visa-process-3558668/


Cabinet nod soon for India to join US-led IPEF trade pact
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The Union cabinet may soon take up a proposal from the commerce and industry ministry, seeking approval for India to sign the clean-economy and fair-economy agreements of the Indo Pacific Economic Framework for Prosperity (IPEF). India has already signed Pillar II of IPEF that deals with supply chain. The agreements on clean economy and fair economy will enter into force after at least five IPEF partners complete their internal legal procedures for ratification, acceptance, or approval. IPEF was launched in 2022 and has 14 member countries. India has joined Pillars II to IV of IPEF while maintaining an observer status in Pillar I. The agreement on clean economy aims to accelerate efforts towards energy security, climate resilience, and clean energy deployment. The agreement on fair economy seeks to create a transparent and predictable business environment and combat corruption. The next ministerial meeting of IPEF will be held virtually in September.

#India #Ipef #TradePact #CommerceMinistry #CleanEconomy #FairEconomy

https://www.financialexpress.com/policy/economy-cabinet-nod-soon-for-india-to-join-us-led-ipef-trade-pact-3556674/


Latest News Today Live Updates, July 15, 2024: Merchandise exports rise to $35.2 billion in June, says trade ministry - India News | The Financial Express
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Merchandise exports in India rose to $35.2 billion in June, driven by higher shipments of engineering goods and commercial vehicles. The data was released by the Commerce Ministry on July 15, 2024. Concurrently, merchandise imports in India increased to $56.18 billion during the same period. The Supreme Court dismissed a plea seeking a review in the Adani-Hindenburg case. Hindustan Unilever Limited (HUL) announced the sale of its Pureit business to A.O. Smith. Broadcom Inc. announced a 10-for-one stock split. The stock closed at $1700 on Friday and will trade on a split-adjusted basis. Delhi court extended the judicial custody of Aam Aadmi Party leader Manish Sisodia until July 22 in a money laundering case. The benchmark equity indices ended Monday's trading session in the positive territory. The Nifty 50 gained 84.35 points or 0.34% to settle at 24,586.50, while the BSE Sensex jumped 145.51 points or 0.18% to 80,664.86. Union Minister of State Jitendra Singh declared that Udhampur railway station will become a major junction. Vikram Misri assumed charge as Foreign Secretary on July 15. More than 5.31 lakh users of Android phones have downloaded the 'Metro Ride Kolkata App' since its release. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The Coppa America final between Argentina and Colombia was postponed by more than one hour on Sunday as thousands of fans without tickets breached security and stormed into the stadium. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The August 2024 visa bulletin has been made public by the US Department of State. The bulletin provides final action dates for approving applications for a change of status or issuing an immigrant visa. The US Federal Reserve's first rate cut since US inflation is heading downward is anticipated. Fed Chair Powell will be interviewed by David Rubenstein at the Economic Club of Washington today. Godfrey Philips shares rose 18% intraday to touch a fresh 52-week high of Rs 4,789.85. The stock closed at a price of Rs 4,057.10 in its last trading session. Train services on the Konkan Railway route were disrupted on Sunday evening due to a landslide caused by heavy rains in Maharashtra. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) marks a significant advancement in regional transportation within the National Capital Region. Vikram Misri assumed charge as Foreign Secretary on July 15. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The Copa America final between Argentina and Colombia was postponed by more than one hour on Sunday as thousands of fans without tickets breached security and stormed into the stadium. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The August 2024 visa bulletin has been made public by the US Department of State. The bulletin provides final action dates for approving applications for a change of status or issuing an immigrant visa. The US Federal Reserve's first rate cut since US inflation is heading downward is anticipated. Fed Chair Powell will be interviewed by David Rubenstein at the Economic Club of Washington today. Godfrey Philips shares rose 18% intraday to touch a fresh 52-week high of Rs 4,789.85. The stock closed at a price of Rs 4,057.10 in its last trading session. Train services on the Konkan Railway route were disrupted on Sunday evening due to a landslide caused by heavy rains in Maharashtra.

#MerchandiseExports #SupremeCourt #HindustanUnilever #Broadcom #AamAadmiParty #EquityIndices #UdhampurRailwayStation #VikramMisri #AndroidApp #AssamFlood #Clat2025 #CopaAmericaFinal #UsVisaBulletin #UsFederalReserve #GodfreyPhilips #KonkanRailway

https://www.financialexpress.com/india-news/latest-news-today-july-15-2024-live-updates/3553522/


June CPI inflation at 5.08%: Inflation may ease on monsoon pick up, but dashes hopes of any rate cut by RBI before Dec, say economists
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Economists expect retail inflation to ease in the coming months as rainfall has regained momentum. India's retail inflation rose to a four-month high of 5.08% in June on higher food costs. Food inflation rose to 9.55% in June from 8.69% in May and 4.55% in June 2023. The inflationary impact is felt more acutely in rural areas, where CPI hit 5.66% compared to 4.39% in urban areas. The Reserve Bank of India Monetary Policy Committee (MPC) is expected to be more hawkish and any decision to cut rates will not come before December 2024. An inflation print of +5% will likely keep the MPC more hawkish. The RBI is likely to maintain its pause stance well into December 2023, cautiously observing these inflationary pressures and assessing the broader economic impact of the previous 250 basis points rate hike.

#Inflation #Monsoon #RateCut #Rbi #Economists

https://www.financialexpress.com/policy/economy-june-cpi-inflation-at-5-08-inflation-may-ease-on-monsoon-pick-up-but-dashes-hopes-of-any-rate-cut-by-rbi-before-dec-say-economists-3553227/


Fed Rate Cut: Will the US CPI data of June prepare the Fed to cut rates sooner? - Investing Abroad News | The Financial Express
==========

The US CPI monthly index remained unchanged in May while the annual index rose 3.3 percent. The core inflation index rose 3.4 percent over the past 12 months, showing a rise of 0.2 percent in May. All eyes are on the June US CPI data to be released on July 11, 2024. The US Fed will hold its FOMC meeting on July 30-31, and the markets anticipate that policy rates will remain unchanged. Fed Chair Jerome Powell stated the US economy is no longer overheated, with a cooling job market and a stronger case for interest rate cuts. The markets have discounted Fed action, expecting Powell to deliver the first rate cut in September. The US central bank remains concerned about inflation stickiness despite a decrease from 9.1% in June 2022 to 3.3% in May 2024. The US elections in November, US CPI data, and the US labor market remain the biggest factors that could determine how the US markets close in 2024.

#FedRateCut #UsCpiData #UsEquityMarkets

https://www.financialexpress.com/business/investing-abroad-us-cpi-data-for-june-to-be-released-today-fed-prepares-for-potential-rate-cut-3549771/


Stock Market Live: Jumpstart for markets! Nifty opens near 24,400, Sensex above 80,100; Metal and PSU Banks stock leads the opening gains - Market News | The Financial Express
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The benchmark equity indices opened Thursday’s trading session in the positive territory. The NSE Nifty 50 opens up by 72.10 points or 0.30% at 24,396.55, while the BSE Sensex gains 245.32 points or 0.31% to 80,170.10 in the opening trade. The broader indices opened in mixed territory. Bank Nifty index opens higher by 127.60 points or 0.24% to settle at 52,316.90.

#StockMarket #Nifty #Sensex #EquityIndices #Trading

https://www.financialexpress.com/market/share-market-today-live-updates-sensex-nifty-rupee-vs-dollar-share-market-live-sensex-nifty-may-open-positive-gift-nifty-up-asian-markets-traded-positive-on-july-11-2024-thursday-3550101/


Powell testimony to Congress: Latest on US CPI data, interest rates, economy and unemployment
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Chair Jerome H. Powell testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and presented the Semiannual Monetary Policy Report. The next FOMC meeting takes place on July 30-July 31 while the US CPI data for June arrives on July 11. Powell cautioned that maintaining restrictive policies for an extended period of time may impede economic growth. Inflation has eased notably over the past couple of years but remains above the Committee’s longer-run goal of 2 percent. The unemployment rate was at a low level of 4.1 percent in June. Payroll job gains averaged 222,000 per month in the first half of the year. The stock market is hitting record levels due to expectations of interest rate cuts by the US Federal Reserve. The S&P 500 and Nasdaq Composite closed higher, setting fresh record highs. Powell stated that the Committee will continue to assess incoming data and their implications for the evolving outlook, the balance of risks, and the appropriate path of monetary policy.

#JeromeHPowell #Fomc #UsCpiData #InterestRates #Economy #Unemployment

https://www.financialexpress.com/business/investing-abroad-fomc-continues-to-make-decisions-meeting-by-meeting-powell-in-his-testimony-to-congress-3549334/


US Federal Reserve Chair Jerome Powell testimony to Banking Committee today
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US Federal Reserve Chair Jerome Powell will testify before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and submit the Semiannual Monetary Policy Report to Congress on July 9. On July 10, he will testify before the U.S. House Financial Services Committee. Powell's testimony will focus on the Federal Reserve's monetary policy outlook. Wall Street investors are awaiting key inflation data and earnings reports to assess the outlook. The FOMC meeting takes place on July 30-31, and the US CPI data for June arrives on July 11.

#UsFederalReserve #JeromePowell #Testimony #Congress #MonetaryPolicy #InflationData #EarningsReports

https://www.financialexpress.com/business/investing-abroad-federal-reserve-chief-powells-two-day-testimony-to-congress-starts-today-3548543/


US Jobs for Accountants: Indian accounting professionals thrive in US with STEM opportunities
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The recent approval of STEM accounting has created career opportunities for Indian accountants to make an impact in the US. Indian qualifications and expertise in the accounting domain has bolstered their standing in the competitive US job market. The approval has opened new avenues for these professionals, enabling them to leverage the increasing demand for skilled individuals in the accounting field along with data analysis, financial modeling, and risk management. The incorporation of STEM with accounting offers Indian professionals in the US a wealth of opportunities for career advancement and professional growth in the accounting industry. By embracing this convergence of disciplines, individuals can expand their skill set, broaden their horizons, and pave the way for a successful and fulfilling career in a competitive market.

#UsJobs #Accountants #IndianProfessionals #StemOpportunities

https://www.financialexpress.com/business/investing-abroad-stem-opportunities-for-indian-accounting-professionals-for-an-impactful-career-in-the-us-3531268/


US Stock Market Holidays List: Nasdaq and NYSE open or closed today? - Investing Abroad News | The Financial Express
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The US stock market is closed on Wednesday, June 19th, and will reopen on Thursday, June 20th. Nasdaq U.S. equities and options markets will be closed on Wednesday, June 19, 2024, in observance of the Juneteenth Holiday. The New York Stock Exchange (NYSE) and the Nasdaq will be closed on June 19 due to Juneteenth National Independence Day. Next month, there will be another stock market holiday on Thursday, July 4, 2024, and will close early on Wednesday, July 3, in observance of the Independence Day holiday. Last week, the S&P 500 and Nasdaq Composite gained 1.58% and 3.24%, respectively, notching their seventh winning week in eight amid a strong rally in technology stocks. The Federal Reserve signaled only one interest rate cut this year which could come as late as December. On June 17, 2021, US passed legislation making Juneteenth a federal holiday.

#UsStockMarket #Nasdaq #Nyse #Juneteenth #IndependenceDay

https://www.financialexpress.com/business/investing-abroad-are-nyse-and-nasdaq-stock-exchanges-closed-today-3527661/


Book Review | Socialised risk
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Ruchir Sharma argues capitalism is ruined unless governments stop stimulating during recoveries. Consumer confidence hovers at 2009 levels despite stock markets breaking records. America is becoming least tolerant of financial distress. The government already has an outsized role in the US economy. The book dissects economic trends and policies, highlighting the forces driving inequality, stagnation, and financial instability. Sharma proposes that governments need to stop stimulating during recoveries.

#RuchirSharma #Capitalism #GovernmentIntervention #EconomicInequality

https://www.financialexpress.com/life/lifestyle-book-review-socialised-risk-3525906/


Global equity markets face volatility as key indices reach multi-week lows
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Global stock markets outside America, including the UK, France, Japan, China, and New Zealand, have hit multi-week lows. The FTSE 100 index in the UK has fallen to a four-week low of 8,152.00 index points, while France's CAC 40 index has decreased to a four-week low of 7,916.00 index points. The Nikkei 225 index in Japan has dropped 1.3% to close at 38,054, and the Shanghai Stock Exchange Composite Index in China has decreased to a four-week low of 3,088.00 index points. Additionally, the S&P/NZX 50 index in New Zealand dropped 1.04% to 11,557, marking its lowest level in two weeks. The recent declines in these global stock markets are driven by various economic pressures and investor sentiment.

#EquityMarkets #StockMarkets #Volatility #Indices #MultiweekLows

https://www.financialexpress.com/business/investing-abroad-global-market-watch-major-equity-indices-hit-lows-amid-economic-uncertainty-3507306/


'Grandfather has given assurance': What Juvenile Justice Board order said while granting bail to Pune Porsche crash accused
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The Juvenile Justice Board granted bail to a 17-year-old boy who allegedly crashed his luxury Porsche car into a motorbike, resulting in the death of two techies in Pune. The boy was granted bail on a surety of Rs 7,500 and an assurance from his grandfather to keep him away from bad company. The boy appeared before the Juvenile Justice Board and was granted bail hours later. The police claim that the boy was drunk at the time of the accident. The board imposed conditions including parental responsibility, refraining from future offenses, and studying traffic regulations. The board also mandated the boy to compose a 300-word essay on road accidents and their remedies.

#JuvenileJusticeBoard #Bail #PunePorscheCrash #Accident #DrunkDriving

https://www.financialexpress.com/india-news/grandfather-has-given-assurance-what-juvenile-justice-board-order-said-while-granting-bail-to-pune-porsche-crash-accused/3497141/


US EB-5 Visa Program: Investors focus on projects with financial returns and job creation opportunities
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The EB-5 visa program has become a pivotal driver of investment in the American real estate sector. Investors prioritize projects that offer financial returns and demonstrate a solid and feasible job creation strategy. The reliability and track record of developers have become crucial factors for EB-5 investors. Regulatory updates have prompted a strategic shift in the EB-5 investment landscape. Investors are increasingly forming partnerships with regional centers that specialize in navigating regulatory complexities. The mandate of the EB-5 program to create jobs significantly shapes investor choices. The landscape for EB-5 visa applicants focusing on real estate investment is undergoing significant transformation.

#Eb5VisaProgram #RealEstateInvestment #JobCreation #Investors #Developers #RegulatoryChanges

https://www.financialexpress.com/business/investing-abroad-us-eb-5-visa-program-transforming-american-real-estate-investment-opportunities-3483563/


‘First of all…’: S Jaishankar rejects US President Biden's ‘xenophobic’ remarks
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External Affairs Minister S Jaishankar dismissed US President Joe Biden’s assertion that “xenophobia” hindered India’s economic progress during an ET round table on Friday. Jaishankar countered, affirming India’s robust economy and historical openness as a society. He highlighted the Citizenship Amendment Act (CAA) as evidence of India’s welcoming stance towards those in need. The CAA facilitates citizenship for immigrants fleeing persecution in neighboring countries. Biden’s remarks earlier in the week had criticised xenophobia in China, Japan and India, attributing it to economic limitations.

#SJaishankar #JoeBiden #Xenophobia #CitizenshipAmendmentAct #IndiausRelations

https://www.financialexpress.com/india-news/first-of-all-s-jaishankar-rejects-us-president-bidens-xenophobic-remarks/3477182/


US to accept H-2B visa petitions for workers for the late second half of 2024
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US Citizenship and Immigration Services (USCIS) has reached the cap for the additional 19,000 H-2B visas made available for returning workers for the early second half of fiscal year 2024. Of the 64,716 additional visas, 44,716 are available only for returning workers, while the remaining 20,000 visas are set aside for nationals of El Salvador, Guatemala, Honduras, Haiti, Colombia, Ecuador, and Costa Rica. USCIS is still accepting petitions for H-2B nonimmigrant workers for the additional 20,000 visas allotted for nationals of the aforementioned countries who are exempt from the returning worker requirement. Starting April 22, 2024, USCIS will begin accepting petitions for workers for the late second half of FY 2024, requesting employment start dates from May 15 to September 30, 2024. The total number of foreigners who may receive an H-2B nonimmigrant visa is up by 64,716 for FY 2024.

#H2bVisa #Uscis #Workers #ReturningWorkers #VisaPetitions

https://www.financialexpress.com/business/investing-abroad-us-jobs-h-2b-visa-petitions-for-workers-for-the-late-second-half-of-2024-process-begin-3468242/


Managing the West Asian Quagmire is imperative for global peace
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West Asia is experiencing heightened tensions due to recent events, including Iran's attack on Israel and Israel's ongoing conflict with Hamas. Iran launched hundreds of drones and missiles on Israel in retaliation for an Israeli air strike in Syria that killed seven Iranians. The attack marked a change in Iran's strategy, as it relied less on proxies and deployed long-range missiles. The region was already on the brink of war between Israel and Hamas, with thousands of Palestinians killed and Israel refusing a ceasefire. The US and G7 countries have expressed support for Israel but urged restraint. India, with its cordial relations with all parties involved, is concerned about the impact on its expatriates, energy security, and maritime security. The world cannot afford another war, as it could escalate into a global confrontation involving the US, Russia, and China. The conflict is occurring at a critical time for US foreign policy, with both Democrats and Republicans focused on West Asia. The author calls for diplomatic efforts to de-escalate the situation and protect global shipping sea lanes. India, with its neutral stance, should play a role in bringing the parties to the table.

#WestAsia #Iran #Israel #Hamas #Tensions #Diplomacy #GlobalPeace

https://www.financialexpress.com/world-news/managing-the-west-asian-quagmire-is-imperative-for-global-peace/3465863/


US F-1 Student Visa Rejection Reasons: Refusal rates reach record levels
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In the United States, F-1 visa refusal rates have reached record levels, with over 250,000 international students turned away from studying in the country. In 2023, the refusal rate rose to 36 percent totaling 253,355 refusals, exceeding 2022 levels. The direct economic effect of the visa refusals is estimated at over $7 billion annually. The more than 1 million international students at US HEIs contributed over $40 billion to the US during academic year 2022-23. The rise in Indian student applications may be one reason for the high refusal rates, as Indian applicants received 29% of all issuances last year and historically are more likely to be refused a visa than their Chinese counterparts. US immigration officials may also have been potentially extremely subjective in student visa interviews. Experts have called on the Biden administration to be more transparent about such student visa denials, implementing a fair policy for reviewing student applications. Last year, the US reported this trend of rising visa refusal rates. Yet despite rising rejection rates, student visa issuances in the US managed to exceed pre-COVID levels. The F-1 visa allows an international student to temporarily live in the US for a certain period while studying at a college or university certified by the Student and Exchange Visitor Program (SEVP).

#UsF1StudentVisa #VisaRefusalRates #InternationalStudents #EconomicImpact

https://www.financialexpress.com/business/investing-abroad-us-study-visa-rejections-peak-in-2023-what-it-means-to-american-economy-and-students-3465731/


IT firms navigate workforce cuts, US slump, AI opportunities
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In FY24, Infosys, TCS, and Wipro collectively saw workforce reduction of 63,759 employees. The domestic IT sector faced a collective headcount reduction, a downturn in the US revenue, a fluctuating performance in the BFSI sector, and a paradox of rising deal wins not translating into equivalent revenue growth. The demand from the US showed considerable weakening in FY24 as clients held back their discretionary spendings and the macroeconomic uncertainties caused delays in deal conversion, thus impacting the IT companies revenue streams significantly. Despite these challenges, there is a beacon of strategic optimism in the companies’ focus on AI and GenAI.

#ItFirms #WorkforceCuts #UsSlump #AiOpportunities #Infosys #Tcs #Wipro #BfsiSector

https://www.financialexpress.com/business/industry-it-firms-navigate-workforce-cuts-us-slump-ai-opportunities-3464103/


Evolution of customer segmentation and future prospects with generative AI
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Customer segmentation has evolved over time, driven by advancements in AI and changing consumer demands. From demographic classifications to psychographic profiling, businesses seek more nuanced insights into their target audience. Generative AI, with its ability to synthesize data and create personalized experiences, promises to revolutionize customer understanding and engagement. It can handle large amounts of data, analyze it, and create super-customized customer experiences. The future of customer segmentation with generative AI looks promising, as it can create multidimensional customer profiles and enable truly personalized marketing experiences. It has the potential to democratize segmentation and make advanced analytics accessible to businesses of all sizes.

#CustomerSegmentation #GenerativeAi #Business #DatadrivenInsights #PersonalizedMarketing #FutureProspects

https://www.financialexpress.com/business/digital-transformation-evolution-of-customer-segmentation-and-future-prospects-with-generative-ai-3455684/


Three major changes that AI will bring in 2024
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Enterprises will craft a substantive AI strategy in 2024. AI will transform education and healthcare, making them more affordable and improving access globally. Generative AI will automate mundane tasks and disrupt jobs involving knowledge processing. The traditional distinction between creative roles and technology jobs is fading as AI elevates job functions. Enterprises will transform and innovate at a faster pace with the use of generative AI. Responsible and sustainable utilization of AI is crucial for its ethical and beneficial integration into business and society.

#Ai #Technology #Automation #Jobs #Education #Healthcare

https://www.financialexpress.com/business/industry-three-major-changes-that-ai-will-bring-in-2024-3451004/


Rupee maintains upward trend; sees marginal gains in early Monday trade
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The rupee strengthened early on Monday, maintaining its upward trend from the previous session, despite a spike in U.S. bond yields as investors reduced their bets on a rate cut by the US Federal Reserve in June. Broad-based dollar sales from local and foreign banks helped the rupee on Monday. The rupee was at 83.26 to the dollar as of 9:45 a.m. IST, up slightly from 83.2950 in the previous session. Additionally, a moderation in oil prices on easing tensions in west Asia is also likely to assist the rupee. The dollar index was little changed at 104.3 while Asian currencies were mixed. Treasury yields increased following data that revealed US. job growth was stronger than anticipated in March, prompting a pullback in odds of a rate cut at the Fed’s June meeting. Meanwhile, dollar-rupee forward premiums declined, with the 1-year implied yield down 2 bps at 1.65%, pressured by the rise in U.S. bond yields.

#Rupee #ForeignExchange #UsFederalReserve #Dollar #BondYields #OilPrices #AsianCurrencies #TreasuryYields

https://www.financialexpress.com/market/rupee-maintains-upward-trend-sees-marginal-gains-in-early-monday-trade-3449726/


Will Nifty hit a new high above 22,600 or consolidate ahead? See GIFT Nifty, FII data, F&O ban, crude, more before market opens - Market News | The Financial Express
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GIFT Nifty showed a gain of 52.50 points or 0.23% at 22,674, signaling a positive start for the domestic indices NSE Nifty 50. The NSE Nifty 50 ended up by just 0.95 points to settle at 22,513.70, while the BSE gained 20.59 points or 0.03% to 74,248.22. The recent consolidation in Nifty amid weak global cues indicates time-wise correction and traders should maintain a positive bias until the Nifty holds 22,200 level. The US stock market ended the week on a positive note. Crude oil prices are trading down on Monday morning. Foreign institutional investors (FII) bought shares worth net Rs 1659.3 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 3,370.4 crore on April 5, 2024. The NSE has added Hindustan Copper, Sail, and Zee Entertainment Enterprise in F&O on April 8, 2024.

#Nifty #GiftNifty #FiiData #F&oBan #CrudeOil

https://www.financialexpress.com/market/will-nifty-hit-a-new-high-above-22600-or-consolidate-ahead-see-gift-nifty-fii-data-fampo-ban-crude-more-before-market-opens-3449573/


NCR's Hollywood Dream: Can Dwarka Expressway become India's Los Angeles?
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Dwarka Expressway in NCR is being developed as a growth corridor with a focus on sustainability and technological advancements. It connects key business districts like Gurgaon and Delhi, reducing travel time and attracting professionals. The upcoming Jewar Airport in Noida is expected to further enhance its appeal. Metro connectivity is a cornerstone of the project, providing access to employment hubs, educational institutions, healthcare facilities, and recreational centers. The region is also witnessing the development of residential complexes, commercial hubs, and reputable educational institutions. Investors are capitalizing on the potential for significant returns as the expressway matures and development flourishes. The region's potential for generating rental income is also attractive. The article draws parallels between Dwarka Expressway and Los Angeles in terms of connectivity, business landscape, and vibrant lifestyles. Dwarka Expressway is leveraging smart city initiatives and focusing on sustainability and technological advancements. The region offers opportunities for astute investors and a future that is prosperous, responsible, and green.

#DwarkaExpressway #Ncr #India #LosAngeles #Sustainability #TechnologicalAdvancements #MetroConnectivity #ResidentialComplexes #CommercialHubs #EducationalInstitutions #Investors #RentalIncome #SmartCityInitiatives

https://www.financialexpress.com/money/ncrs-hollywood-dream-can-dwarka-expressway-become-indias-los-angeles-3448936/


Staying the course
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The Monetary Policy Committee (MPC) of [unknown] is expected to keep the repo rate unchanged at 6.5% and maintain its 'withdrawal of accommodation' stance at its April 3-5 meeting. The tone of the statement is expected to be cautious amid a still strong gross domestic product (GDP) growth — the MPC is expected to revise its FY24 GDP growth forecast up towards 8% (versus the government’s forecast of 7.6%) — and inflation risks (even as FY25 consumer price index [CPI] forecast is revised marginally lower to 4.5% amid recent cuts in retail fuel and cooking gas prices). Likely GDP growth of 7%-plus for the fourth year in succession (Standard Chartered’s [SC’s] forecast for FY25, the year starting April 2024) reduces the need to pursue easy monetary policy in the near term. It can be acknowledged that household consumption, which accounts for 56-58% of GDP, has stayed weak; it grew by just 3% in FY24, even as aggregate GDP grew at 7.6%. More importantly, the pace of household consumption growth in FY24 is less than half of the pre-pandemic average of 7.2% during FY15-FY19. However, a reversal can be expected in FY25, assuming a normal monsoon. SC’s data analysis indicates that inadequate monsoon rains likely weigh on household consumption demand, especially in rural areas, driven by reduced spending on food and beverages (F&B). Rural India derives c.37% of earnings from the sale of agricultural produce and in FY15-FY16, the adverse monsoon lowered household spend on F&B to an average of 1.4%, from 5.3% in FY13-FY19. This shaved 90 basis points (bps) from overall GDP in FY15-FY16 (although higher spending on other products supported household consumption). Once the impact reversed with the resumption of a normal monsoon, household demand and F&B spend picked up in subsequent years. It is believable that after an inadequate monsoon in FY24 and with an increased possibility of a normal monsoon in FY25, consumption demand is likely to see a revival, similar to the pattern seen after FY15-FY16. Thus, immediate and deep rate cuts are not needed to support growth. Additionally, the Reserve Bank of India (RBI) has rolled out a slew of macro-prudential measures to reduce the flow of credit to unproductive sectors and to ensure medium-term financial sector stability. Any indications of rate cuts in the near term could reduce the efficacy of these policies as expectations of cheaper credit can run counter to the objective of constraining credit growth to unproductive sectors of the economy. More importantly, inflation is likely to remain a concern for the MPC, which is mandated to keep CPI at 4% on a sustainable basis within a +/-2% band. While headline CPI inflation eased to c.5% in January-February from an average 5.6% in November-December 2023, the pace of easing has been slower than expected. Elevated food prices have kept headline inflation at c.5%, despite the recent cuts in cooking gas and retail fuel prices and lower core inflation (less than 4% for three consecutive months). The March CPI inflation is expected to be at 5.05%, with core inflation likely edging up to 3.47% (from 3.34%) on higher gold prices. While a favourable base effect is likely to pull headline CPI inflation below 5% from June-July 2024, elevated food prices remain a risk, especially amid forecasts of higher-than-normal temperatures across the country. Thus, any indication of rate cuts soon seems unlikely, especially amid the crude oil price rally to $90/barrel. Therefore, the MPC is expected to strike a cautious tone to anchor expectations on (i) the timing and (ii) the quantum of rate cuts when the easing cycle begins. While a statement around vigilance over still high inflation is likely to anchor expectations of no rate cuts before the third quarter of 2024, reiteration of the 4% medium-term inflation target, in our view, is likely to anchor expectations around the quantum of rate cuts. FY25 CPI inflation is expected to be at 4.5%. Since a few MPC members have flagged a preference for real rates of c.1% (the repo rate less forecast headline CPI four quarters ahead), many in the market expect a deep rate-cutting cycle. However, the MPC is likely to deliver a shallow rate-cutting cycle of 50 bps (the repo rate is currently at 6.5%) as it is expected to remain cognisant of the medium-term equilibrium inflation level. It can be assumed that headline CPI will not fall below 5% on a sustained basis, as weather-related disruptions have become frequent and we see a turnaround in core CPI towards 5% by end of FY25, on improved household demand. Overall, in a highly uncertain world, the MPC — similar to past meetings — is expected to remain cautious and reiterate data dependency for its future actions.

#MonetaryPolicyCommittee #GdpGrowth #InflationRisks #HouseholdConsumption #RateCuts #Inflation #Rbi

https://www.financialexpress.com/opinion/staying-the-course-3/3445634/


Dr. Reddy's Laboratories' subsidiary Aurigene launches AI/ML-assisted drug discovery platform
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Dr. Reddy's Laboratories' subsidiary Aurigene has launched Aurigene.AI, an AI and ML-assisted platform for accelerating drug discovery projects. The platform combines advanced physics-based simulation, generative and predictive AI models, and Computer-Aided Drug Design (CADD). It also includes a curated database of 180 million compounds and 1.6 million validated bioassay data points. The platform is hosted on Google Cloud and has been validated by discovery scientists at Aurigene, reducing the cycle time from chemical design to synthesis and testing by 35 percent. The platform aims to facilitate faster development of novel therapeutics.

#DrReddy'sLaboratories #Aurigene #Ai #Ml #DrugDiscovery #Platform

https://www.financialexpress.com/healthcare/healthtech/dr-reddys-laboratories-subsidiary-aurigene-launches-aiml-assisted-drug-discovery-platform/3445072/


MPC unlikely to surprise on rates and stance: Poll
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The Monetary Policy Committee (MPC) is unlikely to make any positive surprises on interest rates or policy stance during its upcoming meeting on April 3-5. The repo rate is expected to remain unchanged at 6.5% for the seventh consecutive time, and the stance of withdrawal of accommodation is likely to continue due to inflation staying above the RBI's comfort zone of 4%. Around 50% of economists expect rate cuts from the third quarter of the current fiscal year, while 25% expect rate cuts from the second quarter. The central bank is expected to retain its policy stance of withdrawal of accommodation to avoid signaling a rate cut too soon. The MPC has been focused on the withdrawal of accommodation since April 2022 to align inflation with its 4% target. The efforts have eased prices to some extent, but CPI inflation remains above the target. GDP growth has exceeded forecasts, with a growth rate of 8.4% in FY25. The earliest rate cut is expected in the October 2024 meeting, unless there is a negative surprise in growth in the intervening quarters. Market participants will also be watching the central bank's commentary on liquidity management, as the banking system liquidity has moved from deficit to surplus in the last two months.

#MonetaryPolicyCommittee #InterestRates #PolicyStance #RepoRate #Inflation #GdpGrowth #LiquidityManagement

https://www.financialexpress.com/policy/economy-over-50-expect-rate-cuts-from-q3-mpc-unlikely-to-surprise-on-rates-and-stance-poll-3442182/


Agriculture in Viksit Bharat: In the vision of a developed India by 2047, agriculture must also catch up with the times
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Agriculture is critical for India’s development as it still engages about 45.8% of working population (2022-23, PLFS data). The average annual growth rates (AAGRs) of overall GDP and agri-GDP from 1991-92 to 2023-24 are 6.1% and 3.3% respectively. Under the Modi government, overall GDP has grown by 5.9% and agriculture growth has been 3.6%. To achieve the vision of Viksit Bharat@2047, agriculture needs to develop its full potential by increasing productivity, reducing water consumption, recharging groundwater, arresting soil degradation, and curbing greenhouse gas emissions. The agenda for agriculture in Viksit Bharat should include rationalizing food and fertilizer subsidies, investing in agri-R&D and innovation, promoting water-saving techniques, and transitioning to high-value agriculture with a value chain approach. The aim is to move more people out of agriculture to higher productivity sectors and ensure inclusive development.

#Agriculture #India #Development #Gdp #Productivity #WaterConsumption #SoilDegradation #GreenhouseGasEmissions #Subsidies #HighvalueAgriculture

https://www.financialexpress.com/opinion/agriculture-in-viksit-bharat-in-the-vision-of-a-developed-india-by-2047-agriculture-must-also-catch-up-with-the-times/3442300/


Economy shows resilience despite external headwinds
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India's economy has exhibited resilience and has been able to grow at a rate much higher than market expectations. In the first three quarters of FY24, the country's GDP expanded sharply by 8.2%, with the growth in Q3 coming in at a six-quarter high of 8.4%. The growth was largely driven by investments, particularly in manufacturing and residential construction. Key macro-indicators such as CPI inflation, WPI inflation, trade, and current account deficit are benign and expected to remain range-bound. Inflationary pressures have remained contained, with CPI inflation averaging 5.4% in April-February FY24. The share of gross-fixed capital formation (GFCF) in GDP is expected to rise to 34.1% in FY24, the highest in the past 11 years. However, concerns remain about the durability of the growth revival and the quality of the data. Economists expect consumption to pick up in FY25 from easing inflation, rate reductions, improvement in sentiments, and growth in real wages. Most economists expect FY25 GDP growth to be around 7% or slightly higher.

#IndianEconomy #GdpGrowth #Investments #Inflation #Macroindicators

https://www.financialexpress.com/policy/economy-economy-shows-resilience-despite-external-headwinds-3442232/


RBI's interest rate decision, macro data, global factors to dictate mkt trends this week: Analysts
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The Reserve Bank of India’s interest rate decision, macroeconomic data, and global trends will drive investors’ sentiment this week, with markets hoping to continue the positive momentum after ending FY24 on a buoyant note. The RBI’s Monetary Policy Committee (MPC) is set to start its three-day meeting deliberating interest rates and analyzing the state of the economy on April 3 and will end on April 5. Companies will announce the monthly sales numbers for March starting from April 1. The rupee-dollar trend, movement of global oil benchmark Brent crude, and investments made by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also influence trading in equity markets. US Fed Reserve Chairman Jerome Powell’s speech is scheduled for April 3, and data like the US ISM manufacturing PMI for March will be declared on April 1. US non-farm payrolls data and the unemployment rate for March will be announced on April 5. The market capitalization of BSE-listed companies soared by Rs 1,28,77,203.77 crore to Rs 3,86,97,099.77 crore in FY24. The outlook for the market will be guided by major global and domestic economic data, automobile sales, US and India manufacturing Purchasing Managers’ Index (PMI), US job openings, factory orders, and US non-farm payrolls, and unemployment rate. The RBI’s monetary policy committee will meet from April 3-5, 2024, and decide on policy rates. The monetary policy statement will provide important cues on the economy, inflation, and interest rates. Last week, the BSE benchmark climbed 819.41 points or 1.12 percent, and the NSE Nifty advanced 230.15 points or 1.04 percent.

#Rbi #InterestRate #MacroData #GlobalFactors #MarketTrends #Investors #Sentiment #MonetaryPolicyCommittee #Economy #SalesNumbers #RupeedollarTrend #BrentCrude #Fiis #Diis #JeromePowell #IsmManufacturingPmi #NonfarmPayrolls #UnemploymentRate #MarketCapitalization #EconomicData #AutomobileSales #PurchasingManagers’Index #JobOpenings #FactoryOrders #PolicyRates #MonetaryPolicyStatement #BseBenchmark #NseNifty

https://www.financialexpress.com/market/rbis-interest-rate-decision-macro-data-global-factors-to-dictate-mkt-trends-this-week-analysts-3442014/


Ministries seek more socioeconomic surveys; several requests made to statistics ministry for tech, manpower support
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Key economic ministries in India have requested technical and manpower support from the Ministry of Statistics and Programme Implementation (MoSPI) for a fresh set of surveys. The surveys aim to bolster their database for suitable policy action and cover areas such as tourism footfall surveys, ailments among the elderly, and price estimation of industrial inputs. The National Sample Survey Office (NSSO), the survey wing of the statistics ministry, will conduct these surveys. The NSSO conducts large-scale sample surveys in diverse fields across India and collects data on various socio-economic subjects. The ministry will likely start conducting the additional surveys after the elections. Private agencies may be contracted to conduct certain surveys due to resource constraints, but there are concerns about the accuracy of results from such agencies. Experts suggest expanding the capacities of the NSSO to conduct the extra surveys.

#SocioeconomicSurveys #StatisticsMinistry #India #Nsso #Database #PolicyAction

https://www.financialexpress.com/policy/economy-ministries-seek-more-socioeconomic-surveys-several-requests-made-to-statistics-ministry-for-tech-manpower-support-3435932/


Large-scale zero-budget farming may hit crop output: study
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A joint study by Nabard and Icrier suggests that large-scale adoption of traditional farming practices such as Zero Budget Natural Farming (ZBNF) may impact the production of major crops like rice and wheat. The study calls for long-term experimentation and a rigorous assessment before implementing ZBNF as a nationwide agricultural practice. A three-year field experiment by the Indian Institute of Farming Systems Research estimated a decline of 59% in wheat production and 32% in basmati rice or coarse rice production under ZBNF compared to integrated crop management. The study also highlights the importance of productivity for food security and suggests that resilient supply chain networks for farm inputs are necessary for transitioning towards natural farming. The study recommends the development of a scientifically valid protocol for ZBNF by the National Centre of Organic Farming. It also proposes providing direct benefit transfers to farmers to purchase fertilizers at market prices to address soil quality deterioration caused by excessive use of subsidized urea.

#Farming #Agriculture #CropProduction #ZeroBudgetNaturalFarming

https://www.financialexpress.com/policy/economy-large-scale-zero-budget-farming-may-hit-crop-output-study-3435666/


Govt allows UAE's Adnoc to export oil from Indian strategic storage
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The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm. At present, crude oil is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC). The Indian Strategic Petroleum Reserve Ltd has leased half of the 1.5 million tonne capacity in Mangalore storage to Adnoc. The remaining was retained by ISPRL. Adnoc had sought permission for the export of its oil from the cavern in cases where it could not find buyers in Indian refiners. After the notification, Adnoc can now export oil stored in the Mangalore storage.

#Uae #Adnoc #CrudeOil #StrategicStorage #Mangalore #IndianOilCorporation #Export

https://www.financialexpress.com/business/industry-govt-allows-uaes-adnoc-to-export-oil-from-indian-strategic-storage-3435052/


Global Market Predictions: US Fed's first rate cut likely to be in June? - Investing Abroad News | The Financial Express
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The Federal Reserve maintained its key interest rate at a 23-year high range of 5.25-5.50%, during its March 2024 FOMC meeting. Fed officials predict three cuts to federal funds rate by year-end, with participants anticipating the rate to begin cutting at its June meeting. Market experts have mixed views on the timing of the rate cut, with some expecting it to happen in June and others suggesting it will depend on the personal consumption expenditure figures for February. The Fed's dot plot projections for 2024 indicate three rate cuts, but investors should remember that dot plots are poor predictors of actual policy. The Fed's forecast for the year-end fed funds rate target is 4.6%, with a range of 4.50% to 4.75%. The Fed also raised the core PCE inflation forecast to 2.6% from 2.4% and raised the real GDP forecast to 2.1% from 1.4%. Comerica Bank expects the Fed to cut the fed funds target by three quarters of a percent over the course of 2024, most likely in quarterly cuts of a quarter percentage point each at their June, September, and December decisions.

#FederalReserve #InterestRates #RateCut #FomcMeeting #DotPlot #Inflation #Gdp #EconomicForecast

https://www.financialexpress.com/business/investing-abroad-us-feds-first-rate-cut-likely-to-be-in-june-global-market-gurus-reactions-3433105/


What are spot Bitcoin ETFs and are they safe to invest in?
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The US Securities and Exchange Commission (SEC) has approved 11 spot Bitcoin ETFs, signaling a shift in the regulatory landscape. Spot Bitcoin ETFs track the current market price of Bitcoin and provide direct exposure to its price movements. The approval of spot Bitcoin ETFs is expected to attract institutional investors, enhance market liquidity, and contribute to greater market stability. However, spot Bitcoin ETFs are susceptible to market volatility and security concerns. In India, investing in spot Bitcoin ETFs offers more favorable tax treatment compared to direct crypto investments. The approval of spot Bitcoin ETFs by the SEC has potential implications for global markets and tax considerations in specific jurisdictions.

#Bitcoin #Etfs #Sec #Investment #MarketLiquidity #MarketStability #TaxImplications

https://www.financialexpress.com/business/digital-transformation-what-are-spot-bitcoin-etfs-and-are-they-safe-to-invest-in-3389321/


America EB-5 Visa: Requirements for EB-5 immigrant visa category and Regional Center Program
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The EB-5 Immigrant Investor Program was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Investors may qualify for the EB-5 classification by investing through regional centers designated by USCIS. On March 15, 2022, President Biden signed the EB-5 Reform and Integrity Act, which created new requirements for the EB-5 immigrant visa category and the Regional Center Program. The primary condition is that an EB-5 investor must invest the required amount of capital in a new commercial enterprise that will create full-time positions for at least 10 qualifying employees. The new commercial enterprise must directly create full-time positions for a new commercial enterprise not located within a regional center, while a new commercial enterprise located within a regional center can directly or indirectly create full-time positions. USCIS distinguishes between direct and indirect jobs, with direct jobs establishing an employer-employee relationship between the new commercial enterprise and the persons it employs, and indirect jobs being held outside of the new commercial enterprise but created as a result of the new commercial enterprise. A qualifying employee is a U.S. citizen, lawful permanent resident, or other immigrant authorized to work in the United States. Full-time employment requires a minimum of 35 working hours per week. Troubled businesses and job maintenance are also considered in the EB-5 visa requirements.

#Eb-5Visa #ImmigrantVisa #RegionalCenterProgram #Uscis #JobCreation #CapitalInvestment #ForeignInvestors

https://www.financialexpress.com/business/investing-abroad-us-eb-5-visa-rules-and-requirements-for-eb-5-immigrant-visa-category-and-regional-center-program-3387906/


US Permanent Resident Visa: Recent policy announcements that make EB-5 program more attractive for Indian investors
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The EB-5 Visa Program is one of the paths a foreign national can take to obtain a green card and become a permanent resident of the United States. Recent policy announcements by the USCIS have made the EB-5 program more attractive for Indian investors. The USCIS has rolled out several updates for the EB-5 program, including the introduction of concurrent filing, the EB-5 Reform and Integrity Act of 2022, and the fast-tracking of investments in Targeted Employment Areas. In October 2023, USCIS revised its policy on the minimum investment period required for EB-5 visa applicants, setting a clear two-year investment requirement. The launch of the online visa application system is expected to significantly enhance visa processing speed. In Fiscal Year 2023, the number of EB-5 visa applications showed a significant increase compared to previous years. The EB-5 program in India primarily attracts high-net-worth individuals and affluent families seeking U.S. residency. The future outlook for EB-5 adoption in India is positive, with around 676 EB-5 visas issued to Indians in FY 2023. The current investment requirement for the program is $800,000. USIF has held 2 roadshows in India in 2023, which have been successful in generating interest and attracting investors. The EB-5 program is considered a credible and sought-after path to obtain permanent residency in the US due to its alignment with U.S. economic goals, recent reforms, and policy changes that have made it more accessible and efficient.

#UsPermanentResidentVisa #Eb-5Program #IndianInvestors #Uscis #ConcurrentFiling #Eb-5ReformAndIntegrityAct #TargetedEmploymentAreas #OnlineVisaApplicationSystem #InvestmentPeriod #VisaProcessingSpeed #Eb-5VisaApplications #InvestmentRequirement #Roadshows #CrediblePath #PermanentResidency

https://www.financialexpress.com/business/investing-abroad-us-pr-visa-recent-policy-announcements-that-make-eb-5-program-more-attractive-for-indian-investors-3382000/


Long-term portfolios poised to generate favourable returns
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Experts suggest investors consider betting on long-term debt mutual funds after the Budget for several reasons. The projected fiscal deficit for FY25 and the expected decline in gross borrowings indicate positive prospects for the bond markets. The Reserve Bank of India's consistent pause stance since April 2023 and the global bond inclusion will further enhance the flow to the debt segment, drive up demand, and bolster investor confidence. Investors should adopt a barbell strategy, allocating 40% of their funds into short-term options and the remaining into gilt-oriented funds with longer durations. Diversification across bond types, sectors, and issuers is crucial to spread risk effectively. Before investing in long-duration funds, investors should assess the fluctuation of yields and carefully consider the current interest rate environment and the risk of losses if rates rise. Comparing expense ratios and aligning investment goals and risk tolerance are also essential steps to ensure that investors select funds that suit their financial objectives and are comfortable with risk.

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https://www.financialexpress.com/money/mutual-funds-long-term-portfolios-poised-to-generate-favourable-returns-3384059/