US markets closed mixed on Thursday, with the Dow ending a losing streak despite the Fed forecasting fewer 2025 rate cuts and higher inflation. Positive economic data, including falling jobless claims and revised GDP growth, were offset by losses in several S&P 500 sectors. Asian and European markets experienced declines, with oil prices falling and the dollar strengthening. US futures indicate a negative opening on Friday.
India’s ultra-high-net-worth individual (UHNI) population surged to 13,600 in 2024, ranking sixth globally and third in Asia. A 50% growth is projected by 2028, exceeding global averages. Many UHNIs are diversifying assets abroad and engaging in philanthropy. India also has a large and growing high-net-worth individual (HNI) population, with a significant number under 40.
India maintains its position as the world’s fastest-growing major economy, even as its GDP growth slowed to 5.4% in the July-September quarter. This slowdown, attributed to a weak manufacturing sector, contrasts with China’s 4.6% growth during the same period. However, India’s performance still surpasses that of its Asian rival.
India is projected to be the fastest-growing G20 economy in 2024, with a 7% GDP growth rate, outpacing other major economies like Indonesia (5%), China (4.8%), and Russia (3.6%). This strong performance is highlighted amidst the G20 summit in Brazil, focusing on global challenges.
India is projected to be the fastest-growing G20 economy in 2024, with a 7% GDP growth rate, outpacing other major economies like Indonesia (5%), China (4.8%), and Russia (3.6%). This strong performance is highlighted amidst the G20 summit in Brazil, focusing on global challenges.
A new OECD report reveals a record surge in legal migration to wealthy nations in 2023, driven by labor demand and fueled by economic benefits. However, rising voter concerns about asylum seekers and housing pressures are leading some countries to tighten immigration policies, creating a complex interplay between economic necessity and political anxieties.
This article delves into key global data points, analyzing the US presidential race, China’s economic stimulus, Russia’s war-torn economy, rising global public debt, and the continued climate crisis. It explores the potential impact of these developments on India and the global stage.
Temasek, Singapore’s state-owned investment firm, has raised concerns about the potential impact of a Donald Trump re-election on global growth. Their Chief Investment Officer, Rohit Sipahimalani, believes that a Trump presidency could lead to a stronger dollar, higher interest rates, and increased uncertainty due to tariffs, potentially impacting U.S. companies and financial markets.
Gold prices are reaching record highs, nearing $3,000 per ounce, driven by global diversification away from the US dollar. This trend, highlighted by economist Mohamed El-Erian, raises concerns about the potential fragmentation of the global financial system and challenges to US influence.
IMF Managing Director Kristalina Georgieva has cautioned that despite ongoing global economic recovery efforts, persistent challenges like high debt and low growth remain. She highlighted the increasing reliance on borrowing and the need for better debt management strategies. Georgieva’s remarks come as the US and EU implement rate cuts to tackle inflation, reflecting the diverse approaches to address economic challenges globally.
