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Reddit Inc, in collaboration with its investors, is gearing up for what could be a groundbreaking Initial Public Offering (IPO), targeting to raise up to $748 million. <o:p></o:p>

According to Bloomberg, this move would position Reddit among the major IPOs of the year, marking a significant milestone for the social media platform.<o:p></o:p>

According to sources familiar with the matter, Reddit plans to offer 22 million shares priced between $31-34 each. This move is part of the company's ambition to achieve a valuation as high as $6.5 billion during its listing phase. <o:p></o:p>

Additionally, 1.76 million shares of Reddit's IPO will only be available to moderators and users who registered accounts prior to January 1. <o:p></o:p>

These shares will not be subject to a lockup period, enabling owners to trade them on the opening day of trading.<o:p></o:p>

The IPO is being facilitated by a consortium of major financial institutions, including Morgan Stanley, Goldman Sachs Group Inc, JPMorgan Chase &amp; Co, and Bank of America Corp. <o:p></o:p>

Reddit is poised to debut on the New York Stock Exchange under the symbol RDDT, signalling its entry into the realm of publicly traded companies.<o:p></o:p>

Reddit's IPO has garnered substantial attention within the financial market, especially considering its potential impact on the IPO landscape. <o:p></o:p>

The company's decision to offer shares to its own users and moderators adds a unique dimension to its public debut strategy.<o:p></o:p>

The listing of Reddit will be closely monitored by industry observers, including other potential IPO candidates like Rubrik Inc. and Waystar Technologies Inc., both eyeing significant market debuts. <o:p></o:p>

Since its founding in 2005, Reddit has grown to become a well-known social media site, with an average of 73.1 million active unique visitors each day during the fourth quarter. <o:p></o:p>

Despite reporting a net loss of $91 million on revenue of $804 million in 2023, Reddit's growth trajectory has captured the attention of investors.<o:p></o:p>

Notably, the largest shareholder in Reddit is Advance Magazine Publishers Inc., a part of the Newhouse family publishing empire that also owns Conde Nast. <o:p></o:p>

Having acquired Reddit in 2006 and subsequently spun it out in 2011, Advance Magazine Publishers Inc. retains a significant stake in the platform, underlining its enduring influence in Reddit's journey towards its IPO.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Reddit Inc, in collaboration with its investors, is gearing up for what could be a groundbreaking Initial Public Offering (IPO), targeting to raise up to $748 million.

Reddit Inc, in collaboration with its investors, is gearing up for what could be a groundbreaking Initial Public Offering (IPO), targeting to raise up to $748 million. According to Bloomberg, this move would position Reddit among the major IPOs of the year, marking a significant milestone for the social media platform. According to sources familiar with the matter, Reddit plans to offer 22 million shares priced between $31-34 each. This move is part of the company's ambition to achieve a valuation as high as $6.5 billion during its listing phase. Additionally, 1.76 million shares of Reddit's IPO will only be available to moderators and users who registered accounts prior to January 1. These shares will not be subject to a lockup period, enabling owners to trade them on the opening day of trading. The IPO is being facilitated by a consortium of major financial institutions, including Morgan Stanley, Goldman Sachs Group Inc, JPMorgan Chase & Co, and Bank of America Corp. Reddit is poised to debut on the New York Stock Exchange under the symbol RDDT, signalling its entry into the realm of publicly traded companies. Reddit's IPO has garnered substantial attention within the financial market, especially considering its potential impact on the IPO landscape. The company's decision to offer shares to its own users and moderators adds a unique dimension to its public debut strategy. The listing of Reddit will be closely monitored by industry observers, including other potential IPO candidates like Rubrik Inc. and Waystar Technologies Inc., both eyeing significant market debuts. Since its founding in 2005, Reddit has grown to become a well-known social media site, with an average of 73.1 million active unique visitors each day during the fourth quarter. Despite reporting a net loss of $91 million on revenue of $804 million in 2023, Reddit's growth trajectory has captured the attention of investors. Notably, the largest shareholder in Reddit is Advance Magazine Publishers Inc., a part of the Newhouse family publishing empire that also owns Conde Nast. Having acquired Reddit in 2006 and subsequently spun it out in 2011, Advance Magazine Publishers Inc. retains a significant stake in the platform, underlining its enduring influence in Reddit's journey towards its IPO. (With inputs from Bloomberg)

Reddit aims for record IPO, eyeing $748 million in valuation

Turkey celebrated a significant milestone as Fitch upgrades its credit rating, lauding the country's shift towards orthodox economic policies on Saturday. Fitch's decision to elevate Turkey's credit rating to B+ from B, with a positive outlook, reflects growing confidence in the effectiveness of the government's economic reforms initiated since June 2023. This, according to reports is an indication that Turkey's tighter monetary policies at curbing inflationary pressures and enhancing macroeconomic stability, have proven successful.<o:p></o:p>

Government's praise for policy shift<o:p></o:p>

According to a report by Daily Sabah, top Turkish officials have commended the success of the country's policy overhaul, which paved the way for Fitch's credit rating upgrade. Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek attributed the positive revision to the government's foresighted economic program. They expressed optimism for further upgrades in the foreseeable future, highlighting the efficacy of Turkey's proactive approach to economic management.<o:p></o:p>

Implications for economic outlook<o:p></o:p>

The upgrade signals a favourable outlook for Turkey's economic trajectory, with analysts anticipating sustained improvements in macroeconomic indicators. Fitch's positive outlook reflects expectations of a significant decline in inflation and continued reduction in external vulnerabilities. Turkey's adherence to international norms and rule-based policies has been recognised as instrumental in fostering economic stability and attracting investor confidence.<o:p></o:p>

Focus on monetary policy and reserves<o:p></o:p>

Following Fitch's decision to revise Turkey's rating outlook from negative to stable on September 9, the central bank has implemented significant monetary policy adjustments. According to Bloomberg, this included raising the policy rate by 2,000 basis points to reach 45 per cent and introducing additional measures aimed at addressing inflation, which has surged to nearly 70 per cent.<o:p></o:p>

As of March 1, the central bank's gross foreign currency reserves increased to $80.5 billion, compared to $56.5 billion recorded at the end of May. This surge in reserves follows President Recep Tayyip Erdogan's re-election, signalling a shift in policy direction. Increased demand for foreign money has put strain on reserves in recent weeks.<o:p></o:p>

Positive projections and reserve management<o:p></o:p>

Fitch's positive outlook extends beyond the immediate term, projecting a further increase in international reserves by the end of 2025. The agency anticipates a gradual improvement in external financing conditions and a reduction in current account deficits, bolstering Turkey's reserve coverage and overall economic resilience. The government's measures to phase out foreign exchange-protected deposit schemes align with broader efforts to promote financial stability and reduce reliance on external support.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

<o:p></o:p>

Turkey celebrated a significant milestone as Fitch upgrades its credit rating, lauding the country's shift towards orthodox economic policies on Saturday. Fitch's decision to elevate Turkey's credit rating to B+ from B, with a positive outlook, reflects growing confidence in the effectiveness of the government's economic reforms initiated since June 2023.

Turkey celebrated a significant milestone as Fitch upgrades its credit rating, lauding the country's shift towards orthodox economic policies on Saturday. Fitch's decision to elevate Turkey's credit rating to B+ from B, with a positive outlook, reflects growing confidence in the effectiveness of the government's economic reforms initiated since June 2023. This, according to reports is an indication that Turkey's tighter monetary policies at curbing inflationary pressures and enhancing macroeconomic stability, have proven successful. Government's praise for policy shift According to a report by Daily Sabah, top Turkish officials have commended the success of the country's policy overhaul, which paved the way for Fitch's credit rating upgrade. Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek attributed the positive revision to the government's foresighted economic program. They expressed optimism for further upgrades in the foreseeable future, highlighting the efficacy of Turkey's proactive approach to economic management. Implications for economic outlook The upgrade signals a favourable outlook for Turkey's economic trajectory, with analysts anticipating sustained improvements in macroeconomic indicators. Fitch's positive outlook reflects expectations of a significant decline in inflation and continued reduction in external vulnerabilities. Turkey's adherence to international norms and rule-based policies has been recognised as instrumental in fostering economic stability and attracting investor confidence. Focus on monetary policy and reserves Following Fitch's decision to revise Turkey's rating outlook from negative to stable on September 9, the central bank has implemented significant monetary policy adjustments. According to Bloomberg, this included raising the policy rate by 2,000 basis points to reach 45 per cent and introducing additional measures aimed at addressing inflation, which has surged to nearly 70 per cent. As of March 1, the central bank's gross foreign currency reserves increased to $80.5 billion, compared to $56.5 billion recorded at the end of May. This surge in reserves follows President Recep Tayyip Erdogan's re-election, signalling a shift in policy direction. Increased demand for foreign money has put strain on reserves in recent weeks. Positive projections and reserve management Fitch's positive outlook extends beyond the immediate term, projecting a further increase in international reserves by the end of 2025. The agency anticipates a gradual improvement in external financing conditions and a reduction in current account deficits, bolstering Turkey's reserve coverage and overall economic resilience. The government's measures to phase out foreign exchange-protected deposit schemes align with broader efforts to promote financial stability and reduce reliance on external support. (With inputs from Bloomberg)

Turkey's economic overhaul earns Fitch upgrade amid policy shift

As uncertainties lurk around us, insurance serves as a beacon of financial security. It is a shield against the unpredictable storms that life may throw our way. Insurance coverage has become increasingly crucial as the cost of living continues to rise. However, merely having insurance isn't enough; it's essential to ensure that your coverage remains robust in the face of inflation.&nbsp;

Insurance is essentially a contractual agreement between an individual (the insured) and an insurance company (the insurer). In exchange for regular premium payments, the insurer provides financial protection against specified risks. These risks could include health issues, accidents, property damage, or even death, depending on the type of insurance policy.

The primary types of insurance in India include life insurance, health insurance, motor insurance, and property insurance. Each serves a distinct purpose but shares the common goal of mitigating financial risks associated with unexpected events.

Insurance is crucial for several reasons.

Here’s why insurance should be an integral part of your financial planning:

Risk Mitigation&nbsp;

Life is unpredictable, and unfortunate events such as accidents, illnesses, or natural disasters can wreak havoc on your finances. Insurance provides a safety net by covering the associated costs, ensuring that such events don't lead to financial ruin.

Asset Protection

Whether it's your home, car, or health, insurance safeguards your valuable assets against damage or loss. It allows you to repair or replace them without bearing the entire financial burden.Insurance plays a crucial role in long-term financial planning, especially concerning retirement and legacy planning.&nbsp;

Legal Compliance

Certain types of insurance, such as motor insurance, are mandatory as per Indian laws. Failing to comply with these regulations can lead to legal repercussions, making insurance not just a prudent choice but a necessary one.

Making Your Insurance Inflation-Proof

Inflation erodes the value of money over time, diminishing the purchasing power of your insurance coverage. To ensure that your policies remain effective despite inflation, consider the following strategies:

Regular Review&nbsp;

Periodically review your insurance policies to ensure they align with your current needs and lifestyle. As inflation impacts the cost of living and healthcare expenses, it's essential to adjust your coverage accordingly.

Choose Indexed Policies

Opt for insurance policies with inflation protection features, such as indexed plans. These policies adjust the sum assured or premiums periodically based on inflation indices, ensuring that your coverage keeps pace with rising costs.

Invest in Health Insurance Riders

Health insurance riders offer additional coverage for specific medical conditions or treatments not covered by standard policies. Investing in riders that account for inflation in healthcare costs can provide comprehensive coverage against rising medical expenses.

Consider Whole Life Insurance&nbsp;

Whole life insurance policies provide coverage for the insured's entire life, with premiums typically remaining fixed. These policies offer a hedge against inflation as the sum assured and cash value grow over time, keeping pace with rising costs.

Affordability and Claims Settlement&nbsp;

While comprehensive coverage is desirable, ensure that the premiums remain affordable over the long term. Opt for a balance between adequate coverage and affordability to avoid financial strain.

Evaluate the insurer's claims settlement record and reputation before purchasing a policy. A reliable insurer with a history of prompt and fair claims settlement ensures that your insurance serves its intended purpose during times of need.

Policy Exclusions and Limitations

Thoroughly understand the terms, conditions, exclusions, and limitations of your insurance policies. Be aware of any clauses that may impact coverage during inflationary periods or specific circumstances.

Insurance serves as a cornerstone of financial stability, offering protection against life’s uncertainties.

Inflation-proofing your insurance requires a proactive approach and choosing the right policies. By staying informed, you can ensure that your insurance coverage remains effective, providing peace of mind for you and your family.

As uncertainties lurk around us, insurance serves as a beacon of financial security. It is a shield against the unpredictable storms that life may throw our way.

As uncertainties lurk around us, insurance serves as a beacon of financial security. It is a shield against the unpredictable storms that life may throw our way. Insurance coverage has become increasingly crucial as the cost of living continues to rise. However, merely having insurance isn't enough; it's essential to ensure that your coverage remains robust in the face of inflation. Insurance is essentially a contractual agreement between an individual (the insured) and an insurance company (the insurer). In exchange for regular premium payments, the insurer provides financial protection against specified risks. These risks could include health issues, accidents, property damage, or even death, depending on the type of insurance policy. The primary types of insurance in India include life insurance, health insurance, motor insurance, and property insurance. Each serves a distinct purpose but shares the common goal of mitigating financial risks associated with unexpected events. Insurance is crucial for several reasons. Here’s why insurance should be an integral part of your financial planning: Risk Mitigation Life is unpredictable, and unfortunate events such as accidents, illnesses, or natural disasters can wreak havoc on your finances. Insurance provides a safety net by covering the associated costs, ensuring that such events don't lead to financial ruin. Asset Protection Whether it's your home, car, or health, insurance safeguards your valuable assets against damage or loss. It allows you to repair or replace them without bearing the entire financial burden.Insurance plays a crucial role in long-term financial planning, especially concerning retirement and legacy planning. Legal Compliance Certain types of insurance, such as motor insurance, are mandatory as per Indian laws. Failing to comply with these regulations can lead to legal repercussions, making insurance not just a prudent choice but a necessary one. Making Your Insurance Inflation-Proof Inflation erodes the value of money over time, diminishing the purchasing power of your insurance coverage. To ensure that your policies remain effective despite inflation, consider the following strategies: Regular Review Periodically review your insurance policies to ensure they align with your current needs and lifestyle. As inflation impacts the cost of living and healthcare expenses, it's essential to adjust your coverage accordingly. Choose Indexed Policies Opt for insurance policies with inflation protection features, such as indexed plans. These policies adjust the sum assured or premiums periodically based on inflation indices, ensuring that your coverage keeps pace with rising costs. Invest in Health Insurance Riders Health insurance riders offer additional coverage for specific medical conditions or treatments not covered by standard policies. Investing in riders that account for inflation in healthcare costs can provide comprehensive coverage against rising medical expenses. Consider Whole Life Insurance Whole life insurance policies provide coverage for the insured's entire life, with premiums typically remaining fixed. These policies offer a hedge against inflation as the sum assured and cash value grow over time, keeping pace with rising costs. Affordability and Claims Settlement While comprehensive coverage is desirable, ensure that the premiums remain affordable over the long term. Opt for a balance between adequate coverage and affordability to avoid financial strain. Evaluate the insurer's claims settlement record and reputation before purchasing a policy. A reliable insurer with a history of prompt and fair claims settlement ensures that your insurance serves its intended purpose during times of need. Policy Exclusions and Limitations Thoroughly understand the terms, conditions, exclusions, and limitations of your insurance policies. Be aware of any clauses that may impact coverage during inflationary periods or specific circumstances. Insurance serves as a cornerstone of financial stability, offering protection against life’s uncertainties. Inflation-proofing your insurance requires a proactive approach and choosing the right policies. By staying informed, you can ensure that your insurance coverage remains effective, providing peace of mind for you and your family.

Expert Voice | How to make your insurance inflation proof

Saudi Arabia's state-owned oil giant Aramco said on Sunday it boosted its dividends last year despite net profit falling to $121.3 billion from a record $161.1 billion in 2022 on lower oil prices.

The profit was still the company's second-highest on record, it said. Aramco boosted total dividends for the year by 30% to $97.8 billion.

Aramco declared a base dividend, paid regardless of results, of $20.3 billion for the fourth quarter, to be paid this quarter. It approved a $10.8 billion performance-linked dividend, the third such payout. Both dividends were increased from the previous quarter.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/saudi-arabia-shelves-oil-production-expansion-plans-raising-questions-on-future-demand-685491">Saudi Arabia shelves oil production expansion plans, raising questions on future demand</a>

The company said capital investments were at $49.7 billion in 2023, including $42.2 billion in organic capital expenditure. That was up from $38.8 billion in capital investments and $37.6 billion organic capex in 2022.

It forecasts capital investments between $48 billion and $58 billion this year, growing until the middle of the decade.

Also watch | Saudi Kingdom transfers 8% stake in Aramco to public investment fund

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The Saudi government in late January ordered Aramco to scrap its expansion plan to boost production capacity to 13 million barrels a day (mbpd), returning to the previous 12 mbpd target.

The decision "is expected to reduce capital investment by approximately $40 billion between 2024 and 2028," Aramco said.

Its free cash flow fell to $101.2 billion in 2023 from $148.5 billion in 2022.

($1 = 3.7505 riyals)

Saudi Arabia's state-owned oil giant Aramco said on Sunday it boosted its dividends last year despite net profit falling to $121.3 billion from a record $161.1 billion in 2022 on lower oil prices.

Saudi Arabia's state-owned oil giant Aramco said on Sunday it boosted its dividends last year despite net profit falling to $121.3 billion from a record $161.1 billion in 2022 on lower oil prices. The profit was still the company's second-highest on record, it said. Aramco boosted total dividends for the year by 30% to $97.8 billion. Aramco declared a base dividend, paid regardless of results, of $20.3 billion for the fourth quarter, to be paid this quarter. It approved a $10.8 billion performance-linked dividend, the third such payout. Both dividends were increased from the previous quarter. Also read | Saudi Arabia shelves oil production expansion plans, raising questions on future demand The company said capital investments were at $49.7 billion in 2023, including $42.2 billion in organic capital expenditure. That was up from $38.8 billion in capital investments and $37.6 billion organic capex in 2022. It forecasts capital investments between $48 billion and $58 billion this year, growing until the middle of the decade. Also watch | Saudi Kingdom transfers 8% stake in Aramco to public investment fund × The Saudi government in late January ordered Aramco to scrap its expansion plan to boost production capacity to 13 million barrels a day (mbpd), returning to the previous 12 mbpd target. The decision "is expected to reduce capital investment by approximately $40 billion between 2024 and 2028," Aramco said. Its free cash flow fell to $101.2 billion in 2023 from $148.5 billion in 2022. ($1 = 3.7505 riyals)

Saudi Aramco profit falls to USD 121.3 bn due to lower oil prices

In the dynamic world of entrepreneurship, women have emerged as transformative forces, reshaping industries and challenging conventions with innovation, resilience, and unwavering determination. From bustling metropolises to quaint towns, their ventures span diverse sectors: fashion, arts and crafts, home decor, food, and nutrition. These pioneering women aren't just building businesses; they are crafting legacies, breaking barriers, and inspiring future generations.

Fuelled by the digital revolution and a growing desire for economic independence, women entrepreneurs in Tier-2 and Tier-3 cities of India are breaking barriers and creating a new narrative of business ownership. The transformation is partly driven by e-commerce platforms offering a level playing field and a gateway to a national, even global, audience.

This digital space provides flexibility and scalability, allowing entrepreneurs to adjust to changing market conditions and reach a diverse international audience. E-commerce transcends societal norms and limited mobility, particularly benefiting women who can now work from home, balance household duties, and achieve financial independence.

This flexibility is especially critical in rural areas where women often bear heavier household responsibilities. The government is also crucial in laying the groundwork for this change. Schemes like LakhpatiDidi, BetiBachaoBetiPadhao, and NITI Aayog's Women Entrepreneurship Platform further foster education, financial inclusion, and digital literacy - creating a fertile ground for women to take charge.&nbsp;

Once you start searching for them, you may find countless stories of grit and resilience. One such story is of JugaadCrafts, led by Dr Parul Bhatnagar, who embodies a vision that transcends commerce, a testament to the transformative power of education and community development.

Founded on principles of empowerment and sustainability, JugaadCrafts provides livelihoods to artisans and celebrates India's rich heritage. Drawing inspiration from the 'Quantum Jugad' concept christened by the ex-Director of DEI, who stated that students should become job enablers and not job seekers, she embarked on a mission to uplift artisans across India.

The support from programs like Amazon Saheli and government bodies such as the Ministry of Textiles, Office of The Handicrafts Development Commissioner of Handicrafts, and NABARD have played a pivotal role in her journey. 
&nbsp; 
Similarly, Himalayan Haat, founded by mother-daughter duo Indira and Divya, is on a mission to craft a Sustainable Legacy. Their journey with Himalayan Haat embodies the spirit of entrepreneurship and community upliftment. They've built a thriving enterprise empowering local women by blending traditional knowledge with sustainable practices. Their collaboration with Amazon Saheli has opened global markets, advancing their mission of promoting sustainability and preserving cultural heritage. 
&nbsp; 
The rise of women entrepreneurs in India's smaller cities signifies a social and economic transformation. By bridging the digital divide and fostering an inclusive environment, e-commerce platforms act as catalysts in this empowering journey. As these women continue to redefine roles and reimagine growth, India's entrepreneurial landscape is poised for a remarkable future.

In the dynamic world of entrepreneurship, women have emerged as transformative forces, reshaping industries and challenging conventions with innovation, resilience, and unwavering determination.

In the dynamic world of entrepreneurship, women have emerged as transformative forces, reshaping industries and challenging conventions with innovation, resilience, and unwavering determination. From bustling metropolises to quaint towns, their ventures span diverse sectors: fashion, arts and crafts, home decor, food, and nutrition. These pioneering women aren't just building businesses; they are crafting legacies, breaking barriers, and inspiring future generations. Fuelled by the digital revolution and a growing desire for economic independence, women entrepreneurs in Tier-2 and Tier-3 cities of India are breaking barriers and creating a new narrative of business ownership. The transformation is partly driven by e-commerce platforms offering a level playing field and a gateway to a national, even global, audience. This digital space provides flexibility and scalability, allowing entrepreneurs to adjust to changing market conditions and reach a diverse international audience. E-commerce transcends societal norms and limited mobility, particularly benefiting women who can now work from home, balance household duties, and achieve financial independence. This flexibility is especially critical in rural areas where women often bear heavier household responsibilities. The government is also crucial in laying the groundwork for this change. Schemes like LakhpatiDidi, BetiBachaoBetiPadhao, and NITI Aayog's Women Entrepreneurship Platform further foster education, financial inclusion, and digital literacy - creating a fertile ground for women to take charge. Once you start searching for them, you may find countless stories of grit and resilience. One such story is of JugaadCrafts, led by Dr Parul Bhatnagar, who embodies a vision that transcends commerce, a testament to the transformative power of education and community development. Founded on principles of empowerment and sustainability, JugaadCrafts provides livelihoods to artisans and celebrates India's rich heritage. Drawing inspiration from the 'Quantum Jugad' concept christened by the ex-Director of DEI, who stated that students should become job enablers and not job seekers, she embarked on a mission to uplift artisans across India. The support from programs like Amazon Saheli and government bodies such as the Ministry of Textiles, Office of The Handicrafts Development Commissioner of Handicrafts, and NABARD have played a pivotal role in her journey. Similarly, Himalayan Haat, founded by mother-daughter duo Indira and Divya, is on a mission to craft a Sustainable Legacy. Their journey with Himalayan Haat embodies the spirit of entrepreneurship and community upliftment. They've built a thriving enterprise empowering local women by blending traditional knowledge with sustainable practices. Their collaboration with Amazon Saheli has opened global markets, advancing their mission of promoting sustainability and preserving cultural heritage. The rise of women entrepreneurs in India's smaller cities signifies a social and economic transformation. By bridging the digital divide and fostering an inclusive environment, e-commerce platforms act as catalysts in this empowering journey. As these women continue to redefine roles and reimagine growth, India's entrepreneurial landscape is poised for a remarkable future.

Expert Voice | E-commerce entrepreneurs inspiring inclusion in smaller cities

In an investment journey, our success hinges on striking a balance between risk appetite and risk tolerance. Understanding these concepts and learning to manage them effectively can significantly improve investment outcomes.&nbsp;

A good strategy of investment will serve as a roadmap for investors regarding asset allocation, risk management, and portfolio diversification. It encompasses a range of approaches, from conservative to aggressive. Each approach is tailored to individual financial goals, time horizons, and risk preferences.

This article offers insights into how investors can balance these factors for the best results.&nbsp;

What is Risk Appetite?

Risk appetite refers to an investor’s willingness to accept uncertainty and potential losses in pursuit of higher returns. It reflects the degree of risk an investor is comfortable taking on to achieve their investment objectives. Investors with a high-risk appetite are typically more inclined towards aggressive investment strategies for higher growth opportunities.

The Art of Balancing Risk Appetite

Investors should align their risk appetite with their financial goals and constraints, time horizon, and liquidity needs. Conducting a thorough assessment of these factors enables investors to calibrate their risk appetite accordingly.

Investment Diversification&nbsp;

Diversifying across asset classes, industries, and geographies can mitigate risk and portfolio volatility. By spreading investments across different sectors and regions, investors can reduce their exposure to any single risk factor or market downturn.

Regular Portfolio Review &nbsp;&nbsp;

Periodically reviewing and rebalancing the investment portfolio is essential for maintaining alignment with changing risk appetites and market conditions. Adjustments may be necessary to realign the portfolio with evolving investment goals and risk tolerance levels.

What is Risk Tolerance?

Risk tolerance refers to an investor’s ability to withstand fluctuations in the value of their investments without experiencing undue stress or making impulsive decisions. It is influenced by factors such as investment experience, financial stability, and emotional resilience. Investors with a high-risk tolerance can endure short-term market volatility without feeling compelled to deviate from their long-term investment goals.

Balancing Risk Tolerance

Investors should realistically assess their risk tolerance and avoid overestimating their ability to withstand market fluctuations. Acknowledging personal limitations and establishing realistic expectations can prevent impulsive decision-making during periods of market volatility.

Exposure to Risk&nbsp;

For investors with a lower risk tolerance, gradually increasing exposure to riskier assets over time can help build resilience and confidence. Starting with conservative investment options and gradually incorporating higher-risk assets allows investors to acclimate to market volatility without feeling overwhelmed.

Stress Testing&nbsp;

Conducting stress tests or scenario analyses can provide valuable insights into how the investment portfolio may perform under adverse market conditions. By simulating various market scenarios, investors can assess their ability to withstand volatility and make informed decisions accordingly.

The Good and the Bad

Balancing risk appetite and risk tolerance is not a one-size-fits-all endeavour. A high-risk appetite can potentially lead to higher returns. But it also exposes investors to greater volatility and the risk of significant losses. Similarly, an overly conservative approach driven by low risk tolerance may result in missed opportunities for growth and inflation protection.

Finding the right balance between risk appetite and risk tolerance is crucial for better investment outcomes. By understanding the risk and opportunities in the market, investors can navigate the complexities of the financial markets with confidence. In the end, achieving a harmonious balance between risk appetite and risk tolerance is key to building a robust investment portfolio.

In an investment journey, our success hinges on striking a balance between risk appetite and risk tolerance. Understanding these concepts and learning to manage them effectively can significantly improve investment outcomes.

In an investment journey, our success hinges on striking a balance between risk appetite and risk tolerance. Understanding these concepts and learning to manage them effectively can significantly improve investment outcomes. A good strategy of investment will serve as a roadmap for investors regarding asset allocation, risk management, and portfolio diversification. It encompasses a range of approaches, from conservative to aggressive. Each approach is tailored to individual financial goals, time horizons, and risk preferences. This article offers insights into how investors can balance these factors for the best results. What is Risk Appetite? Risk appetite refers to an investor’s willingness to accept uncertainty and potential losses in pursuit of higher returns. It reflects the degree of risk an investor is comfortable taking on to achieve their investment objectives. Investors with a high-risk appetite are typically more inclined towards aggressive investment strategies for higher growth opportunities. The Art of Balancing Risk Appetite Investors should align their risk appetite with their financial goals and constraints, time horizon, and liquidity needs. Conducting a thorough assessment of these factors enables investors to calibrate their risk appetite accordingly. Investment Diversification Diversifying across asset classes, industries, and geographies can mitigate risk and portfolio volatility. By spreading investments across different sectors and regions, investors can reduce their exposure to any single risk factor or market downturn. Regular Portfolio Review Periodically reviewing and rebalancing the investment portfolio is essential for maintaining alignment with changing risk appetites and market conditions. Adjustments may be necessary to realign the portfolio with evolving investment goals and risk tolerance levels. What is Risk Tolerance? Risk tolerance refers to an investor’s ability to withstand fluctuations in the value of their investments without experiencing undue stress or making impulsive decisions. It is influenced by factors such as investment experience, financial stability, and emotional resilience. Investors with a high-risk tolerance can endure short-term market volatility without feeling compelled to deviate from their long-term investment goals. Balancing Risk Tolerance Investors should realistically assess their risk tolerance and avoid overestimating their ability to withstand market fluctuations. Acknowledging personal limitations and establishing realistic expectations can prevent impulsive decision-making during periods of market volatility. Exposure to Risk For investors with a lower risk tolerance, gradually increasing exposure to riskier assets over time can help build resilience and confidence. Starting with conservative investment options and gradually incorporating higher-risk assets allows investors to acclimate to market volatility without feeling overwhelmed. Stress Testing Conducting stress tests or scenario analyses can provide valuable insights into how the investment portfolio may perform under adverse market conditions. By simulating various market scenarios, investors can assess their ability to withstand volatility and make informed decisions accordingly. The Good and the Bad Balancing risk appetite and risk tolerance is not a one-size-fits-all endeavour. A high-risk appetite can potentially lead to higher returns. But it also exposes investors to greater volatility and the risk of significant losses. Similarly, an overly conservative approach driven by low risk tolerance may result in missed opportunities for growth and inflation protection. Finding the right balance between risk appetite and risk tolerance is crucial for better investment outcomes. By understanding the risk and opportunities in the market, investors can navigate the complexities of the financial markets with confidence. In the end, achieving a harmonious balance between risk appetite and risk tolerance is key to building a robust investment portfolio.

Expert Voice | Investor strategies: Balancing risk appetite and risk tolerance 

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community.

The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.S. spot exchange-traded crypto products and expectations for global interest rates to fall.

Billions of dollars have flowed into ETFs in the past few weeks and the market is getting extra support from an outlook that includes an upgrade to the ethereum blockchain platform, home to bitcoin rival ether, and a bitcoin "halving" event, which slows the flow of bitcoin minting, in April.

The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January had marked a watershed moment for the industry, following an 18-month long crypto winter plagued by a string of high-profile corporate bankruptcies and scandals.

Even institutional investors who once shunned crypto due to its sharp and wild moves, have begun committing long-term money too, which analysts say could help sustain the latest leg of this rally.

Net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion in the week ended March 1, with more than $2 billion of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data.

The recent optimism over bitcoin has also spilled over to other digital tokens, particularly ether, which ranks second behind bitcoin in terms of total market value, up more than 60% since the start of the year.

Still, some say it's hard to shake off the speculative nature of these assets. After hitting the record high on Tuesday, bitcoin sharply reversed course and fell more than 10% back below the $60,000 level.

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community. The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community. The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.S. spot exchange-traded crypto products and expectations for global interest rates to fall. Billions of dollars have flowed into ETFs in the past few weeks and the market is getting extra support from an outlook that includes an upgrade to the ethereum blockchain platform, home to bitcoin rival ether, and a bitcoin "halving" event, which slows the flow of bitcoin minting, in April. The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January had marked a watershed moment for the industry, following an 18-month long crypto winter plagued by a string of high-profile corporate bankruptcies and scandals. Even institutional investors who once shunned crypto due to its sharp and wild moves, have begun committing long-term money too, which analysts say could help sustain the latest leg of this rally. Net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion in the week ended March 1, with more than $2 billion of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data. The recent optimism over bitcoin has also spilled over to other digital tokens, particularly ether, which ranks second behind bitcoin in terms of total market value, up more than 60% since the start of the year. Still, some say it's hard to shake off the speculative nature of these assets. After hitting the record high on Tuesday, bitcoin sharply reversed course and fell more than 10% back below the $60,000 level.

Bitcoin rises to record high over $70,000

Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF). <o:p></o:p>

The kingdom transferred an 8 per cent stake in the oil giant Aramco to PIF, valued at approximately $163.6 billion, according to LSEG data. <o:p></o:p>

Crown Prince Mohammed bin Salman, also known as MBS, highlighted the transfer as part of Saudi Arabia's long-term initiatives to diversify the national economy and expand investment opportunities, aligning with the Vision 2030 plan.<o:p></o:p>

The transfer reinforces PIF's strong financial position and credit rating, as mentioned by the state news agency SPA. <o:p></o:p>

MBS, who chairs PIF, highlighted the move's significance in solidifying the fund's role in driving economic diversification. <o:p></o:p>

Reuters cited Justin Alexander, the director of Khalij Economics and GCC analyst for GlobalSource Partners, who estimated that the transfer would provide PIF with over $9 billion in annual dividend revenue from Aramco.<o:p></o:p>

Crown Prince Mohammed bin Salman's decision aligns with the broader strategy outlined in Saudi Vision 2030, as reported by AP. <o:p></o:p>

The transfer reflects Saudi Arabia's commitment to boosting and diversifying the national economy, showcasing PIF as a central player in driving economic transformation. <o:p></o:p>

PIF Governor Yasir al-Rumayyan announced plans to increase capital deployment to $70 billion annually after 2025.<o:p></o:p>

Aramco clarified in a filing on the Saudi Exchange that the transfer is a private arrangement and would not affecting the company's issued shares, operations, strategy, dividend policy, or governance framework. <o:p></o:p>

Despite this, Aramco has played a crucial role in supporting Saudi Arabia's economic overhaul, with the state now holding 82.186 per cent of the company.<o:p></o:p>

The move indicates the government's plans to invest in economic transformation projects, including the futuristic city NEOM.<o:p></o:p>

PIF's transformation into a global investment vehicle has been fuelled by multi-billion-dollar investments in various sectors, from technology to sports. <o:p></o:p>

The fund, which had approximately $700 billion in assets under management before the recent transfer, aims to grow to $2 trillion by 2030. <o:p></o:p>

The crown prince's proactive approach to investing in megaprojects and diversifying Saudi Arabia's economy is an indication of the nation's shift towards reducing its reliance on oil revenue.<o:p></o:p>

Aramco's profits and global criticisms<o:p></o:p>

Aramco, the world's fourth most valuable firm with a market value of $2 trillion, reported a record $161 billion profit for 2022, making it the highest-ever recorded by a publicly listed company. <o:p></o:p>

However, the profits have faced criticism amid global concerns about climate change. <o:p></o:p>

Activists have raised questions about the environmental impact of burning fossil fuels, even as Aramco announces its 2023 earnings on March 11.<o:p></o:p>

(With inputs from agencies)<o:p></o:p>

Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF). The kingdom transferred an 8 per cent stake in the oil giant Aramco to PIF, valued at approximately $163.

Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF). The kingdom transferred an 8 per cent stake in the oil giant Aramco to PIF, valued at approximately $163.6 billion, according to LSEG data. Crown Prince Mohammed bin Salman, also known as MBS, highlighted the transfer as part of Saudi Arabia's long-term initiatives to diversify the national economy and expand investment opportunities, aligning with the Vision 2030 plan. The transfer reinforces PIF's strong financial position and credit rating, as mentioned by the state news agency SPA. MBS, who chairs PIF, highlighted the move's significance in solidifying the fund's role in driving economic diversification. Reuters cited Justin Alexander, the director of Khalij Economics and GCC analyst for GlobalSource Partners, who estimated that the transfer would provide PIF with over $9 billion in annual dividend revenue from Aramco. Crown Prince Mohammed bin Salman's decision aligns with the broader strategy outlined in Saudi Vision 2030, as reported by AP. The transfer reflects Saudi Arabia's commitment to boosting and diversifying the national economy, showcasing PIF as a central player in driving economic transformation. PIF Governor Yasir al-Rumayyan announced plans to increase capital deployment to $70 billion annually after 2025. Aramco clarified in a filing on the Saudi Exchange that the transfer is a private arrangement and would not affecting the company's issued shares, operations, strategy, dividend policy, or governance framework. Despite this, Aramco has played a crucial role in supporting Saudi Arabia's economic overhaul, with the state now holding 82.186 per cent of the company. The move indicates the government's plans to invest in economic transformation projects, including the futuristic city NEOM. PIF's transformation into a global investment vehicle has been fuelled by multi-billion-dollar investments in various sectors, from technology to sports. The fund, which had approximately $700 billion in assets under management before the recent transfer, aims to grow to $2 trillion by 2030. The crown prince's proactive approach to investing in megaprojects and diversifying Saudi Arabia's economy is an indication of the nation's shift towards reducing its reliance on oil revenue. Aramco's profits and global criticisms Aramco, the world's fourth most valuable firm with a market value of $2 trillion, reported a record $161 billion profit for 2022, making it the highest-ever recorded by a publicly listed company. However, the profits have faced criticism amid global concerns about climate change. Activists have raised questions about the environmental impact of burning fossil fuels, even as Aramco announces its 2023 earnings on March 11. (With inputs from agencies)

Saudi Arabia boosts sovereign wealth fund, transfers 8 pc stake in Aramco worth $163.6 bn

Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday.<o:p></o:p>

Speaking before the Senate Banking Committee, Powell underlined that the timing of the rate cut remains dependent on the confidence in inflation trends. <o:p></o:p>

His remarks contributed to the anticipation of a possible rate cut in the coming months, with traders adjusting their expectations following Powell's commentary.<o:p></o:p>

Powell highlighted that inflation's sustainable movement towards the 2 per cent mark would be crucial before initiating any rate cut. <o:p></o:p>

While stating that a rate cut might be appropriate "at some point this year," Powell remains cautious. <o:p></o:p>

The Federal Reserve had raised the benchmark federal funds rate significantly since March 2022 but has maintained it at a two-decade high since July. <o:p></o:p>

Powell's comments suggest a careful approach, with the central bank currently holding interest rates in the range of 5.25 per cent to 5.5 per cent. <o:p></o:p>

In December, the Federal Reserve projected three interest rate cuts for 2024, and the committee is set to update its forecasts in the upcoming March meeting.<o:p></o:p>

Following Powell's statements, the market reacted with a decline in two-year Treasury yields, and traders adjusted their expectations, increasing bets on a rate cut in June. <o:p></o:p>

The possibility of a rate cut comes amid strong job growth and a notable rise in prices in January. <o:p></o:p>

Powell's testimony over two days reflects a delicate balance between the need for economic stimulus and a cautious approach, considering the strong&nbsp;economic backdrop. <o:p></o:p>

Christine Lagarde, Powell's European counterpart, provided additional context, saying that the European Central Bank (ECB) may be positioned to lower rates in June. <o:p></o:p>

Lagarde highlighted the need for more evidence and detail before considering rate cuts. <o:p></o:p>

The ECB president said that it was important to gain confidence in the economic trends and added that more information would be available in June. <o:p></o:p>

Lagarde's comments come as the ECB keeps the deposit rate unchanged at 4 per cent for a fourth consecutive meeting.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday.

Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday. Speaking before the Senate Banking Committee, Powell underlined that the timing of the rate cut remains dependent on the confidence in inflation trends. His remarks contributed to the anticipation of a possible rate cut in the coming months, with traders adjusting their expectations following Powell's commentary. Powell highlighted that inflation's sustainable movement towards the 2 per cent mark would be crucial before initiating any rate cut. While stating that a rate cut might be appropriate "at some point this year," Powell remains cautious. The Federal Reserve had raised the benchmark federal funds rate significantly since March 2022 but has maintained it at a two-decade high since July. Powell's comments suggest a careful approach, with the central bank currently holding interest rates in the range of 5.25 per cent to 5.5 per cent. In December, the Federal Reserve projected three interest rate cuts for 2024, and the committee is set to update its forecasts in the upcoming March meeting. Following Powell's statements, the market reacted with a decline in two-year Treasury yields, and traders adjusted their expectations, increasing bets on a rate cut in June. The possibility of a rate cut comes amid strong job growth and a notable rise in prices in January. Powell's testimony over two days reflects a delicate balance between the need for economic stimulus and a cautious approach, considering the strong economic backdrop. Christine Lagarde, Powell's European counterpart, provided additional context, saying that the European Central Bank (ECB) may be positioned to lower rates in June. Lagarde highlighted the need for more evidence and detail before considering rate cuts. The ECB president said that it was important to gain confidence in the economic trends and added that more information would be available in June. Lagarde's comments come as the ECB keeps the deposit rate unchanged at 4 per cent for a fourth consecutive meeting. (With inputs from Bloomberg)

Fed Chair Jerome Powell signals potential interest rate cuts. Here are the details

Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent. <o:p></o:p>

This projection is underpinned by India's strong government expenditure, robust domestic consumption, and its potential to capitalise on global trade shifts, particularly in the wake of companies diversifying away from China. <o:p></o:p>

The upgraded forecast solidifies India's position as the fastest-growing economy among major G20 nations. <o:p></o:p>

Moody's upgrades growth forecast<o:p></o:p>

Moody's outlook for India's economy manifests in the revised GDP growth forecast of 8 per cent for the fiscal year ending March 2024. <o:p></o:p>

The agency emphasises that government capital expenditure and strong domestic consumption will be vital in propelling India's economic growth. <o:p></o:p>

Furthermore, India is set to capitalise on increased global trade and investment opportunities as businesses &nbsp;shift away from China. <o:p></o:p>

Economic strength and December quarter surge<o:p></o:p>

According to a report by Mint, India's economic resilience is highlighted by the unexpected growth surge of 8.4 per cent in the December quarter, defying concerns of a slowdown. <o:p></o:p>

The National Statistical Office's revised GDP estimates indicate higher growth for the first two quarters of the fiscal year. <o:p></o:p>

Encouragingly, key indicators in manufacturing and services sectors, as indicated by the HSBC Flash India Composite Purchasing Managers’ Index (PMI), position India as one of the fastest-growing major economies. <o:p></o:p>

Inflation trends and monetary policy<o:p></o:p>

Moody's anticipates a downward trend in India's inflation rate, projecting a decline to 5.5 per cent in the fiscal year 2023-24 from the previous fiscal year's peak of 6.7 per cent. <o:p></o:p>

This expectation of disinflation is considered a crucial factor supporting monetary easing. <o:p></o:p>

Despite the Reserve Bank of India (RBI) maintaining a steady repo rate at 6.5 per cent, Moody's notes that the solid growth dynamics, coupled with inflation above the 4.0 per cent target, suggest a cautious approach towards policy easing. <o:p></o:p>

Banking sector outlook<o:p></o:p>

Beyond GDP growth, Moody's comprehensive report delves into the banking sector's outlook. <o:p></o:p>

The agency foresees a continued reduction in non-performing assets (NPAs) as the operating environment improves. <o:p></o:p>

The NPA ratio has already witnessed a decline to 3.2 per cent, indicating the banking sector's resilience. <o:p></o:p>

Moody's expects banks to maintain strong capitalisation, with the ability to raise capital easily if needed. <o:p></o:p>

The report also touches upon the profitability of banks, projecting healthy levels while acknowledging a marginal decline in Net Interest Margin due to deposit repricing. <o:p></o:p>

This holistic assessment reinforces the strength and resilience of India's banking sector, a crucial pillar supporting the overall economic outlook.<o:p></o:p>

(With inputs from PTI)<o:p></o:p>

Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent. This projection is underpinned by India's strong government expenditure, robust domestic consumption, and its potential to capitalise on global trade shifts, particularly in the wake of companies diversifying away from China. The upgraded forecast solidifies India's position as the fastest-growing economy among major G20 nations. Moody's upgrades growth forecast Moody's outlook for India's economy manifests in the revised GDP growth forecast of 8 per cent for the fiscal year ending March 2024. The agency emphasises that government capital expenditure and strong domestic consumption will be vital in propelling India's economic growth. Furthermore, India is set to capitalise on increased global trade and investment opportunities as businesses shift away from China. Economic strength and December quarter surge According to a report by Mint, India's economic resilience is highlighted by the unexpected growth surge of 8.4 per cent in the December quarter, defying concerns of a slowdown. The National Statistical Office's revised GDP estimates indicate higher growth for the first two quarters of the fiscal year. Encouragingly, key indicators in manufacturing and services sectors, as indicated by the HSBC Flash India Composite Purchasing Managers’ Index (PMI), position India as one of the fastest-growing major economies. Inflation trends and monetary policy Moody's anticipates a downward trend in India's inflation rate, projecting a decline to 5.5 per cent in the fiscal year 2023-24 from the previous fiscal year's peak of 6.7 per cent. This expectation of disinflation is considered a crucial factor supporting monetary easing. Despite the Reserve Bank of India (RBI) maintaining a steady repo rate at 6.5 per cent, Moody's notes that the solid growth dynamics, coupled with inflation above the 4.0 per cent target, suggest a cautious approach towards policy easing. Banking sector outlook Beyond GDP growth, Moody's comprehensive report delves into the banking sector's outlook. The agency foresees a continued reduction in non-performing assets (NPAs) as the operating environment improves. The NPA ratio has already witnessed a decline to 3.2 per cent, indicating the banking sector's resilience. Moody's expects banks to maintain strong capitalisation, with the ability to raise capital easily if needed. The report also touches upon the profitability of banks, projecting healthy levels while acknowledging a marginal decline in Net Interest Margin due to deposit repricing. This holistic assessment reinforces the strength and resilience of India's banking sector, a crucial pillar supporting the overall economic outlook. (With inputs from PTI)

Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24

Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

<a href="https://www.wionews.com/business-economy/moodys-bullish-on-india-gdp-growth-forecast-skyrockets-to-8-pc-for-fy24-697895">Read more here</a>

Fed Chair Jerome Powell signals potential interest rate cuts. Here are the details

Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday.

<a href="https://www.wionews.com/business-economy/fed-chair-jerome-powell-signals-potential-interest-rate-cuts-here-are-the-details-697903">Read more here</a>

Strikes paralyse Germany's transport sector: Railways and airports in chaos

Millions of German commuters and travellers face severe disruptions as strikes escalate in the transportation sector.

<a href="https://www.wionews.com/business-economy/strikes-paralyse-german-transport-railways-and-airports-in-chaos-697913">Read more here</a>

Saudi Arabia boosts sovereign wealth fund, transfers 8 pc stake in Aramco worth $163.6 bn

Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF).

<a href="https://www.wionews.com/business-economy/saudi-arabia-boosts-sovereign-wealth-fund-transfers-8-pc-stake-in-aramco-worth-1636-bn-697926">Read more here</a>

LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details

LinkedIn, the professional social network owned by Microsoft has reported that&nbsp;its premium subscription business has reached $1.7 billion in revenue for the year 2023.

<a href="https://www.wionews.com/business-economy/linkedins-premium-subscriptions-soar-to-17-billion-in-2023-here-are-the-details-697937">Read more here</a>

RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions.

<a href="https://www.wionews.com/business-economy/rbi-and-bank-indonesia-ink-pact-to-boost-bilateral-trade-using-local-currencies-697954">Read more here</a>

Flipkart to introduce quick commerce service: Targets 10-15 minute deliveries, says report

India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker.

<a href="https://www.wionews.com/business-economy/flipkart-to-introduce-quick-commerce-service-targets-10-15-minute-deliveries-report-says-697988">Read more here</a>

Broadcom eyes $10 billion in AI chip sales for 2024: Report

Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024.

<a href="https://www.wionews.com/business-economy/broadcom-eyes-10-billion-in-ai-chip-sales-for-2024-report-698002">Read more here</a>

UK Budget tax cuts won't offset rising prices, warns think tank

A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report.

<a href="https://www.wionews.com/business-economy/uk-budget-tax-cuts-wont-offset-rising-prices-warns-think-tank-697597">Read more more&nbsp;</a>

Dutch government in talks with ASML amid concerns over anti-immigration policies

The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid&nbsp;concerns surrounding anti-immigration policies.

<a href="https://www.wionews.com/business-economy/dutch-government-in-talks-with-asml-amid-concerns-over-anti-immigration-policies-697594">Read more here</a>

Apple faces 24 pc dip in China iPhone sales amid Huawei's 64 pc surge

Apple encountered a significant setback in China as its iPhone sales plummeted by 24 per cent in the initial six weeks of 2024, as revealed by a report by research firm Counterpoint.

<a href="https://www.wionews.com/business-economy/apple-faces-24-pc-dip-in-china-iphone-sales-amid-huaweis-64-pc-surge-697527">Read more here</a>

China aims for 5pc GDP growth amid scepticism - promises vigorous effort to achieve target

China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts.

<a href="https://www.wionews.com/business-economy/china-aims-for-5pc-gdp-growth-amid-scepticism-promises-vigorous-effort-to-achieve-target-697511">Read more here</a>

India's Economic Ascent: Projected to grow 6.8 pc in FY25, country eyes upper-middle-income status by 2031

India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil.

<a href="https://www.wionews.com/business-economy/indias-economic-ascent-projected-68-pc-growth-in-fy25-eyes-upper-middle-income-status-by-2031-697492">Read more here</a>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent. Read more here Fed Chair Jerome Powell signals potential interest rate cuts. Here are the details Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday. Read more here Strikes paralyse Germany's transport sector: Railways and airports in chaos Millions of German commuters and travellers face severe disruptions as strikes escalate in the transportation sector. Read more here Saudi Arabia boosts sovereign wealth fund, transfers 8 pc stake in Aramco worth $163.6 bn Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF). Read more here LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023. Read more here RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions. Read more here Flipkart to introduce quick commerce service: Targets 10-15 minute deliveries, says report India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker. Read more here Broadcom eyes $10 billion in AI chip sales for 2024: Report Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024. Read more here UK Budget tax cuts won't offset rising prices, warns think tank A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report. Read more more Dutch government in talks with ASML amid concerns over anti-immigration policies The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid concerns surrounding anti-immigration policies. Read more here Apple faces 24 pc dip in China iPhone sales amid Huawei's 64 pc surge Apple encountered a significant setback in China as its iPhone sales plummeted by 24 per cent in the initial six weeks of 2024, as revealed by a report by research firm Counterpoint. Read more here China aims for 5pc GDP growth amid scepticism - promises vigorous effort to achieve target China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts. Read more here India's Economic Ascent: Projected to grow 6.8 pc in FY25, country eyes upper-middle-income status by 2031 India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil. Read more here

WION Business Wrap | Top stories from the world of economy and business

The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid&nbsp;concerns surrounding anti-immigration policies.

Economic Affairs Minister Micky Adriaansens confirmed ongoing talks with ASML CEO Peter Wennink, emphasising the government's efforts to understand and address the challenges faced by the company.

Adriaansens expressed concerns over the potential impact on infrastructure due to ASML's expansion plans and reiterated the government's commitment to exploring viable solutions to support the company's growth.

ASML CEO Peter Wennink had previously highlighted the company's reliance on skilled foreign labour, particularly amidst the backdrop of significant gains made by anti-immigration parties in the 2023 elections.

Wennink warned about the deteriorating business climate in the Netherlands, citing increasing regulation and proposed changes to tax incentives for highly skilled immigrants as potential challenges.

ASML, Europe's largest tech company, currently employs around 40% non-Dutch personnel out of its 23,000 employees in the Netherlands.

Concerns over policy changes impacting foreign students' enrollment at Dutch universities, a vital source of talent for tech firms, have also been raised.

Wennink stressed the importance of labour migration for innovation, hinting at the possibility of relocating operations if access to skilled workers becomes constrained.

While ASML declined to comment on the ongoing discussions, Wennink hinted at the possibility of considering alternative locations for expansion, with France mentioned as a potential destination by a single source.

The company, known for its dominance in the market for lithography systems used in chip manufacturing, is currently undergoing expansion and anticipates further growth amidst increasing global demand for semiconductors.

The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid concerns surrounding anti-immigration policies.

The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid concerns surrounding anti-immigration policies. Economic Affairs Minister Micky Adriaansens confirmed ongoing talks with ASML CEO Peter Wennink, emphasising the government's efforts to understand and address the challenges faced by the company. Adriaansens expressed concerns over the potential impact on infrastructure due to ASML's expansion plans and reiterated the government's commitment to exploring viable solutions to support the company's growth. ASML CEO Peter Wennink had previously highlighted the company's reliance on skilled foreign labour, particularly amidst the backdrop of significant gains made by anti-immigration parties in the 2023 elections. Wennink warned about the deteriorating business climate in the Netherlands, citing increasing regulation and proposed changes to tax incentives for highly skilled immigrants as potential challenges. ASML, Europe's largest tech company, currently employs around 40% non-Dutch personnel out of its 23,000 employees in the Netherlands. Concerns over policy changes impacting foreign students' enrollment at Dutch universities, a vital source of talent for tech firms, have also been raised. Wennink stressed the importance of labour migration for innovation, hinting at the possibility of relocating operations if access to skilled workers becomes constrained. While ASML declined to comment on the ongoing discussions, Wennink hinted at the possibility of considering alternative locations for expansion, with France mentioned as a potential destination by a single source. The company, known for its dominance in the market for lithography systems used in chip manufacturing, is currently undergoing expansion and anticipates further growth amidst increasing global demand for semiconductors.

Dutch government in talks with ASML amid concerns over anti-immigration policies

Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024. <o:p></o:p>

Despite this optimistic outlook, the tech giant's stock faced a dip as investors seemed unimpressed with the full-year forecast. <o:p></o:p>

CEO Hock Tan shared insights during an earnings call, emphasising that approximately $7 billion of the anticipated AI chip revenue would be attributed to assisting two major clients in designing custom AI chips. <o:p></o:p>

While Tan didn't explicitly name the clients, industry analysts widely speculate them to be Google's Alphabet and Meta Platforms, the parent company of Facebook.<o:p></o:p>

AI chip business prospects and market reaction<o:p></o:p>

Broadcom, alongside smaller rival Marvell Technology, is watched by investors seeking a share in the burgeoning AI technologies market, including innovations like OpenAI's ChatGPT and Google's Gemini. <o:p></o:p>

Both companies specialise in networking chips crucial for handling the vast data volumes associated with AI computing. <o:p></o:p>

Additionally, they assist clients in crafting custom AI chips tailored to their needs. <o:p></o:p>

Despite the bullish AI chip revenue projection, Broadcom's stock faced a decline in after-hours trading due to a less-than-stellar full-year forecast, impacting investor sentiment.<o:p></o:p>

Custom AI chips and margins<o:p></o:p>

Broadcom's CEO, Hock Tan, shed light on the custom chip business, stating that it "can command margins similar to our corporate gross margin," which stood at approximately 75 per cent on an adjusted basis for the fiscal first quarter. <o:p></o:p>

Notably, $7 billion of the expected $10 billion AI chip revenue is anticipated from this segment. <o:p></o:p>

Although Tan did not explicitly mention Google and Meta Platforms, industry speculation points to them as the major clients for Broadcom's custom AI chip design services. <o:p></o:p>

This segment's robust growth is seen as pivotal for Broadcom's overall revenue outlook.<o:p></o:p>

Annual revenue forecast and investor sentiment<o:p></o:p>

Despite the AI chip revenue forecast, Broadcom chose not to update its annual revenue projection of $50 billion. <o:p></o:p>

This decision, coupled with the stock's 26 per cent rally in 2024 driven by AI optimism, resulted in a slight dip in after-hours trading. <o:p></o:p>

Analysts expected a more bullish outlook, given the heightened growth expectations for Broadcom. <o:p></o:p>

The company's role as a data centre supplier for tech heavyweights like Microsoft has fuelled its prominence in the AI domain.<o:p></o:p>

Diversification and growth in software segment<o:p></o:p>

Broadcom, traditionally recognized as a chipmaker, has broadened its portfolio to include collaborations with tech firms such as VMware and software company CA Technologies. <o:p></o:p>

Notably, the infrastructure software revenue witnessed remarkable growth, surging by 153 per cent to $4.57 billion, surpassing estimates. <o:p></o:p>

Despite challenges in other segments due to a cyclical slowdown, Broadcom's AI revenue for the first quarter quadrupled from the previous year to reach $2.3 billion, offsetting other downturns.<o:p></o:p>

Earnings performance<o:p></o:p>

For the fiscal first quarter ending February 4, Broadcom reported net revenue of $11.96 billion, surpassing analysts' average estimate. <o:p></o:p>

Adjusted net income was reported at $5.25 billion, outperforming estimates. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024. Despite this optimistic outlook, the tech giant's stock faced a dip as investors seemed unimpressed with the full-year forecast.

Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024. Despite this optimistic outlook, the tech giant's stock faced a dip as investors seemed unimpressed with the full-year forecast. CEO Hock Tan shared insights during an earnings call, emphasising that approximately $7 billion of the anticipated AI chip revenue would be attributed to assisting two major clients in designing custom AI chips. While Tan didn't explicitly name the clients, industry analysts widely speculate them to be Google's Alphabet and Meta Platforms, the parent company of Facebook. AI chip business prospects and market reaction Broadcom, alongside smaller rival Marvell Technology, is watched by investors seeking a share in the burgeoning AI technologies market, including innovations like OpenAI's ChatGPT and Google's Gemini. Both companies specialise in networking chips crucial for handling the vast data volumes associated with AI computing. Additionally, they assist clients in crafting custom AI chips tailored to their needs. Despite the bullish AI chip revenue projection, Broadcom's stock faced a decline in after-hours trading due to a less-than-stellar full-year forecast, impacting investor sentiment. Custom AI chips and margins Broadcom's CEO, Hock Tan, shed light on the custom chip business, stating that it "can command margins similar to our corporate gross margin," which stood at approximately 75 per cent on an adjusted basis for the fiscal first quarter. Notably, $7 billion of the expected $10 billion AI chip revenue is anticipated from this segment. Although Tan did not explicitly mention Google and Meta Platforms, industry speculation points to them as the major clients for Broadcom's custom AI chip design services. This segment's robust growth is seen as pivotal for Broadcom's overall revenue outlook. Annual revenue forecast and investor sentiment Despite the AI chip revenue forecast, Broadcom chose not to update its annual revenue projection of $50 billion. This decision, coupled with the stock's 26 per cent rally in 2024 driven by AI optimism, resulted in a slight dip in after-hours trading. Analysts expected a more bullish outlook, given the heightened growth expectations for Broadcom. The company's role as a data centre supplier for tech heavyweights like Microsoft has fuelled its prominence in the AI domain. Diversification and growth in software segment Broadcom, traditionally recognized as a chipmaker, has broadened its portfolio to include collaborations with tech firms such as VMware and software company CA Technologies. Notably, the infrastructure software revenue witnessed remarkable growth, surging by 153 per cent to $4.57 billion, surpassing estimates. Despite challenges in other segments due to a cyclical slowdown, Broadcom's AI revenue for the first quarter quadrupled from the previous year to reach $2.3 billion, offsetting other downturns. Earnings performance For the fiscal first quarter ending February 4, Broadcom reported net revenue of $11.96 billion, surpassing analysts' average estimate. Adjusted net income was reported at $5.25 billion, outperforming estimates. (With inputs from Reuters)

Broadcom eyes $10 billion in AI chip sales for 2024: Report

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LinkedIn, the professional social network owned by Microsoft has reported that&nbsp;its premium subscription business has reached $1.7 billion in revenue for the year 2023.

This revenue surge comes as LinkedIn experienced a surge in the adoption of new artificial intelligence tools, signalling a move to enhance user experience and capitalise on evolving market needs.
</div>

Over the past year, LinkedIn has actively expanded its premium subscription service, catering to individual users, including job seekers, with plans starting at $39.99 per month.

An important aspect of this expansion was the introduction of AI features, enabling subscribers to leverage sophisticated tools.

According to a Times of India (TOI) report, these tools include the ability to analyse job postings, suggest job suitability based on resumes, optimise profiles for recruiters and even automatically generate messages for job applications.

Dan Shapero, LinkedIn's Chief Operating Officer, shared insights into the platform's growth, indicating a 25 per cent increase in premium subscribers during 2023.

While specific subscriber numbers were not disclosed, Shapero highlighted that 70 per cent of subscribers with access to the new AI tools actively utilised them, with 90 per cent finding the tools beneficial.

The surge in user engagement reflects a keen interest in the enhanced features offered by LinkedIn, especially amid a dynamic job market.

In an interview, Shapero acknowledged the uncertainty in the broader economy, leading individuals to take proactive steps to secure desirable job opportunities.

Despite the tight labour market in the US, LinkedIn's data suggests a nuanced landscape, with two applicants for every job.

Shapero highlighted the need to provide users with the tools to secure the best possible positions amid economic uncertainties.

Since its acquisition by Microsoft in 2016, LinkedIn has been a key player in the tech giant's portfolio.

According to TOI, Microsoft's influence has been notable, with LinkedIn previously disclosing a total revenue of $15 billion for fiscal year 2023, including $7 billion from hiring software sold to corporate recruiters.

While LinkedIn has showcased growth and innovation, it faced challenges in the form of layoffs.

In 2023, the platform laid off around 1,400 employees in two rounds, citing a need to "re-organise for greater agility and growth."

Despite these challenges, LinkedIn's strategic focus on premium subscriptions and AI tools has proven successful, contributing to its impressive financial performance in 2023.

(With inputs from Reuters)
</div>

LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023.

LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023. This revenue surge comes as LinkedIn experienced a surge in the adoption of new artificial intelligence tools, signalling a move to enhance user experience and capitalise on evolving market needs. Over the past year, LinkedIn has actively expanded its premium subscription service, catering to individual users, including job seekers, with plans starting at $39.99 per month. An important aspect of this expansion was the introduction of AI features, enabling subscribers to leverage sophisticated tools. According to a Times of India (TOI) report, these tools include the ability to analyse job postings, suggest job suitability based on resumes, optimise profiles for recruiters and even automatically generate messages for job applications. Dan Shapero, LinkedIn's Chief Operating Officer, shared insights into the platform's growth, indicating a 25 per cent increase in premium subscribers during 2023. While specific subscriber numbers were not disclosed, Shapero highlighted that 70 per cent of subscribers with access to the new AI tools actively utilised them, with 90 per cent finding the tools beneficial. The surge in user engagement reflects a keen interest in the enhanced features offered by LinkedIn, especially amid a dynamic job market. In an interview, Shapero acknowledged the uncertainty in the broader economy, leading individuals to take proactive steps to secure desirable job opportunities. Despite the tight labour market in the US, LinkedIn's data suggests a nuanced landscape, with two applicants for every job. Shapero highlighted the need to provide users with the tools to secure the best possible positions amid economic uncertainties. Since its acquisition by Microsoft in 2016, LinkedIn has been a key player in the tech giant's portfolio. According to TOI, Microsoft's influence has been notable, with LinkedIn previously disclosing a total revenue of $15 billion for fiscal year 2023, including $7 billion from hiring software sold to corporate recruiters. While LinkedIn has showcased growth and innovation, it faced challenges in the form of layoffs. In 2023, the platform laid off around 1,400 employees in two rounds, citing a need to "re-organise for greater agility and growth." Despite these challenges, LinkedIn's strategic focus on premium subscriptions and AI tools has proven successful, contributing to its impressive financial performance in 2023. (With inputs from Reuters)

LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details

Millions of German commuters and travellers faced severe disruptions on Thursday as strikes escalated in the transportation sector.<o:p></o:p>

Railway workers and airport staff across the country walked off the job, causing chaos for commuters and compounding the nation's economic challenges amid a looming recession.<o:p></o:p>

Nationwide impact on rail and air travel<o:p></o:p>

Train drivers, led by the German Train Drivers' Union (GDL),&nbsp;initiated a fifth round of strikes as part of a prolonged dispute over working hours and compensation. <o:p></o:p>

Only one in five long-distance trains was&nbsp;operational, according to Deutsche Bahn, resulting in significant disruptions for passengers. <o:p></o:p>

Simultaneously, Lufthansa airline ground staff commenced a two-day strike, leading to the cancellation of 650 out of 1,750 flights at Frankfurt Airport. <o:p></o:p>

The ADV airport association warned that these strikes were damaging Germany's reputation as a centre for business and tourism.<o:p></o:p>

Economic impact and warnings<o:p></o:p>

According to a Reuters report, the strikes come at a critical time for Germany, with the economy contracting by 0.3 per cent in 2023, and the government anticipating a weaker-than-expected recovery. <o:p></o:p>

A one-day nationwide rail strike could cost approximately 100 million euros in economic output, according to Michael Groemling, head of economic affairs at IW Koeln.<o:p></o:p>

Deutsche Bahn accused the GDL of inflexibility, with spokesperson Achim Stauss stating, "The other side doesn't budge a millimeter from its maximum position." <o:p></o:p>

Economy Minister Robert Habeck expressed his loss of sympathy for the strikers, highlighting the need for a solution without radical impact on others.<o:p></o:p>

Lufthansa, facing both ground staff and potential cabin crew strikes, warned of a higher-than-expected operating loss in the first quarter of 2024 due to the ongoing disruptions.<o:p></o:p>

Discontent over pay and working conditions<o:p></o:p>

The strikes stem from separate disputes over pay and working conditions.<o:p></o:p>

GDL demands a reduction in the working week from 38 to 35 hours without a pay cut, a proposal Deutsche Bahn has rejected. <o:p></o:p>

As per the BBC, GDL head Claus Weselsky criticised the management, highlighting a 14 per cent increase in management salaries with millions in bonuses while workers contribute to the company's recovery.<o:p></o:p>

At Lufthansa, the Ver.di union demands a 12.5 per cent pay rise or a minimum of €500 more per month, citing ground staff struggling with minimum wage despite the company's soaring profits. Lufthansa's offer of a 10 per cent pay increase was deemed insufficient by the union.<o:p></o:p>

Future outlook<o:p></o:p>

As the strikes continue, with potential ramifications for the German economy and international business and tourism, negotiations remain stalled, and both sides brace for further disruptions.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Millions of German commuters and travellers faced severe disruptions on Thursday as strikes escalated in the transportation sector. Railway workers and airport staff across the country walked off the job, causing chaos for commuters and compounding the nation's economic challenges amid a looming recession.

Millions of German commuters and travellers faced severe disruptions on Thursday as strikes escalated in the transportation sector. Railway workers and airport staff across the country walked off the job, causing chaos for commuters and compounding the nation's economic challenges amid a looming recession. Nationwide impact on rail and air travel Train drivers, led by the German Train Drivers' Union (GDL), initiated a fifth round of strikes as part of a prolonged dispute over working hours and compensation. Only one in five long-distance trains was operational, according to Deutsche Bahn, resulting in significant disruptions for passengers. Simultaneously, Lufthansa airline ground staff commenced a two-day strike, leading to the cancellation of 650 out of 1,750 flights at Frankfurt Airport. The ADV airport association warned that these strikes were damaging Germany's reputation as a centre for business and tourism. Economic impact and warnings According to a Reuters report, the strikes come at a critical time for Germany, with the economy contracting by 0.3 per cent in 2023, and the government anticipating a weaker-than-expected recovery. A one-day nationwide rail strike could cost approximately 100 million euros in economic output, according to Michael Groemling, head of economic affairs at IW Koeln. Deutsche Bahn accused the GDL of inflexibility, with spokesperson Achim Stauss stating, "The other side doesn't budge a millimeter from its maximum position." Economy Minister Robert Habeck expressed his loss of sympathy for the strikers, highlighting the need for a solution without radical impact on others. Lufthansa, facing both ground staff and potential cabin crew strikes, warned of a higher-than-expected operating loss in the first quarter of 2024 due to the ongoing disruptions. Discontent over pay and working conditions The strikes stem from separate disputes over pay and working conditions. GDL demands a reduction in the working week from 38 to 35 hours without a pay cut, a proposal Deutsche Bahn has rejected. As per the BBC, GDL head Claus Weselsky criticised the management, highlighting a 14 per cent increase in management salaries with millions in bonuses while workers contribute to the company's recovery. At Lufthansa, the Ver.di union demands a 12.5 per cent pay rise or a minimum of €500 more per month, citing ground staff struggling with minimum wage despite the company's soaring profits. Lufthansa's offer of a 10 per cent pay increase was deemed insufficient by the union. Future outlook As the strikes continue, with potential ramifications for the German economy and international business and tourism, negotiations remain stalled, and both sides brace for further disruptions. (With inputs from Reuters)

Strikes paralyse Germany's transport sector: Railways and airports in chaos

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023.&nbsp;

But the country's Foreign Minister, Janaina Tewaney Mencomo, wants the world to envision Panama in a different light. "Panama is not just the canal. It is connectivity. It is a route. It is a bridge linking Latin America and the world," she said.

<img alt="Panam on the map" data-entity-type="file" data-entity-uuid="baeffd6b-dea5-464f-9f5e-8a15678fdab5" src="//cdn.wionews.com/sites/default/files/inline-images/WhatsApp%20Image%202024-03-08%20at%2014.52.20.jpeg" />&nbsp;

Speaking at a recent event in New Delhi, Mencomo, who is of Indian descent, defined Panama in the following manner: "Panama is historically South America, culturally Carribean, and geographically Central America."

Batting for greater India-Panama ties, Mencomo stated that the world's fifth-largest economy is at the centre of Panama's foreign policy. "India is an emerging power and important to Panama," she said.

But she also said that the South Asian country needs to engage more politically with Latin America. "Latin Americans love India. That's a big asset for India," she argued.

In an exclusive interaction with wionews.com, Mencomo spoke about Panama's focus on becoming a connectivity hub, the water shortage affecting the canal, and growing India-Panama relations

Edited Excerpts:

What is your country's long-term plans to mitigate the ongoing water crisis and support global free trade?

The drought affecting the Panama Canal is the latest episode of a sort of collective “aha!” moment. We’re in the middle of a re-conceptualisation of our country, one that has historic, demographic, and strategic dimensions. It is what I have called our “Panama 3.0” era.

The Canal was designed and built in a very different world, more than 100 years ago. Its current operating model, built upon the use of freshwater, is increasingly at odds not only with the realities of climate change but also with a world in which freshwater is already more valuable than gold. So, Panama needs to consider and implement bold, creative ambitious solutions. Solutions that, ideally, go beyond depending on rainfall.

Panama administers a major maritime chokepoint, so it needs to coordinate with other chokepoint countries, like Egypt or Singapore, to guarantee world commerce and open supply lines. It also runs a major freshwater waterway, so it needs to assume a leading role in the management of water disruptions in canals, and lake and river routes.

Panama, uniquely, is the bridge connecting the Americas, so it must learn from countries like Kazakhstan and become a seamless connectivity and transit hub between North, Central, South America and the Caribbean.

Panama is India's largest trade partner in Central America. What's your five-year outlook on bilateral trade?

Bilateral trade between our two countries reached an all-time high of $582 million in 2022, but I would like to focus more on the long term. Panama will continue to be an important trade and investment partner for India in the Central American region, as a gateway for Indian companies that want to trade and do business with the Americas. This is only the beginning. We can expect more economic integration between India and Panama in the future as more Indian companies discover the advantages of doing business with one of the most financially stable economies in the Americas. We may also see more Panamanian companies doing business with India, which is soon becoming one of the largest consumer markets in the world.

India and Panama, both aim to be a major pharma hub. How can both countries collaborate in the pharma sector?

Despite these mutual aspirations, India and Panama have no conflicting interests in the pharma sector. Panama is looking to become a regional hub for international pharma companies, including from India, to set up base in Panama and export to the larger Americas region. Given Panama's free trade agreements with large economies like the United States, this is an interesting proposition for Indian companies that are looking for a safe, reliable nearshoring hub close to their primary export market. After all, nearly one-third of India's total pharma exports are sent to the United States. Already, half a dozen Indian pharma companies already have operations in Panama, and three of them use Panama as their sub-regional headquarters for the Central American region.

How can Panama help India in growing its economic footprint across the world?

India's foreign policy, centered on non-alignment for most of its independent history, has placed the country in the envious position of being a friend to most of the world. India enjoys close relations with Israel and Iran, with Russia and the United States. Yet, India has only recently begun making inroads into the Latin America region. Panama is home to the largest Indian diaspora in Spanish-speaking Latin America. As the gateway to Latin America, Panama can help India position itself in Central America and the wider Latin American region. One example of this is when Panama hosted the India-SICA Ministerial Meeting in April 2023.

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023.

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023. But the country's Foreign Minister, Janaina Tewaney Mencomo, wants the world to envision Panama in a different light. "Panama is not just the canal. It is connectivity. It is a route. It is a bridge linking Latin America and the world," she said. Speaking at a recent event in New Delhi, Mencomo, who is of Indian descent, defined Panama in the following manner: "Panama is historically South America, culturally Carribean, and geographically Central America." Batting for greater India-Panama ties, Mencomo stated that the world's fifth-largest economy is at the centre of Panama's foreign policy. "India is an emerging power and important to Panama," she said. But she also said that the South Asian country needs to engage more politically with Latin America. "Latin Americans love India. That's a big asset for India," she argued. In an exclusive interaction with wionews.com, Mencomo spoke about Panama's focus on becoming a connectivity hub, the water shortage affecting the canal, and growing India-Panama relations Edited Excerpts: What is your country's long-term plans to mitigate the ongoing water crisis and support global free trade? The drought affecting the Panama Canal is the latest episode of a sort of collective “aha!” moment. We’re in the middle of a re-conceptualisation of our country, one that has historic, demographic, and strategic dimensions. It is what I have called our “Panama 3.0” era. The Canal was designed and built in a very different world, more than 100 years ago. Its current operating model, built upon the use of freshwater, is increasingly at odds not only with the realities of climate change but also with a world in which freshwater is already more valuable than gold. So, Panama needs to consider and implement bold, creative ambitious solutions. Solutions that, ideally, go beyond depending on rainfall. Panama administers a major maritime chokepoint, so it needs to coordinate with other chokepoint countries, like Egypt or Singapore, to guarantee world commerce and open supply lines. It also runs a major freshwater waterway, so it needs to assume a leading role in the management of water disruptions in canals, and lake and river routes. Panama, uniquely, is the bridge connecting the Americas, so it must learn from countries like Kazakhstan and become a seamless connectivity and transit hub between North, Central, South America and the Caribbean. Panama is India's largest trade partner in Central America. What's your five-year outlook on bilateral trade? Bilateral trade between our two countries reached an all-time high of $582 million in 2022, but I would like to focus more on the long term. Panama will continue to be an important trade and investment partner for India in the Central American region, as a gateway for Indian companies that want to trade and do business with the Americas. This is only the beginning. We can expect more economic integration between India and Panama in the future as more Indian companies discover the advantages of doing business with one of the most financially stable economies in the Americas. We may also see more Panamanian companies doing business with India, which is soon becoming one of the largest consumer markets in the world. India and Panama, both aim to be a major pharma hub. How can both countries collaborate in the pharma sector? Despite these mutual aspirations, India and Panama have no conflicting interests in the pharma sector. Panama is looking to become a regional hub for international pharma companies, including from India, to set up base in Panama and export to the larger Americas region. Given Panama's free trade agreements with large economies like the United States, this is an interesting proposition for Indian companies that are looking for a safe, reliable nearshoring hub close to their primary export market. After all, nearly one-third of India's total pharma exports are sent to the United States. Already, half a dozen Indian pharma companies already have operations in Panama, and three of them use Panama as their sub-regional headquarters for the Central American region. How can Panama help India in growing its economic footprint across the world? India's foreign policy, centered on non-alignment for most of its independent history, has placed the country in the envious position of being a friend to most of the world. India enjoys close relations with Israel and Iran, with Russia and the United States. Yet, India has only recently begun making inroads into the Latin America region. Panama is home to the largest Indian diaspora in Spanish-speaking Latin America. As the gateway to Latin America, Panama can help India position itself in Central America and the wider Latin American region. One example of this is when Panama hosted the India-SICA Ministerial Meeting in April 2023.

WION Exclusive | Panama's Foreign Minister on drought affecting the canal and growing ties with India

India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker.<o:p></o:p>

This move places Flipkart in direct competition with existing players like Zepto, Swiggy's Instamart, and Zomato's Blinkit, all of whom have made significant strides in the quick commerce sector. <o:p></o:p>

The expansion into quick commerce aligns with Flipkart's goals towards enhancing delivery capabilities and meeting evolving customer expectations.<o:p></o:p>

With quick commerce gaining prominence in India, Flipkart's entry comes at a crucial juncture when experts predict its potential to impact traditional e-commerce. <o:p></o:p>

The total addressable market for quick commerce in India is estimated to be around $45 billion, making it an attractive space for major players. <o:p></o:p>

Flipkart aims to leverage its extensive infrastructure, including a chain of stores across cities like Bengaluru, Delhi (NCR), and Hyderabad, to ensure swift deliveries and cater to a wide range of product categories.<o:p></o:p>

In response to the changing dynamics in the e-commerce landscape, Flipkart recently launched same-day delivery in 20 cities and introduced services like delivering flowers and cakes during the Valentine season. <o:p></o:p>

An anonymous analyst covering the e-commerce and quick commerce segments pointed out that these launches hinted at Flipkart's imminent foray into quick commerce. <o:p></o:p>

Flipkart spokesperson affirmed their plan towards delivering a broad range of products swiftly, covering categories like mobiles, essential items, electronics, home appliances, fashion, books, and lifestyle products.<o:p></o:p>

The current quick commerce players, Zepto, Blinkit, and Swiggy Instamart, have witnessed substantial growth, convincing investors of the sector's viability. <o:p></o:p>

While Zepto secured a unicorn round, Blinkit displayed a remarkable turnaround, and Swiggy Instamart experienced significant growth. <o:p></o:p>

According to Entracker, Flipkart aims to differentiate itself by offering a more extensive catalogue, focusing not only on FMCG, grocery, and daily essentials but also on categories like electronics and fashion.<o:p></o:p>

As Flipkart gears up for the quick commerce battle, sources indicate a wider catalogue than its competitors, potentially encompassing categories beyond essentials. <o:p></o:p>

India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker.

India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker. This move places Flipkart in direct competition with existing players like Zepto, Swiggy's Instamart, and Zomato's Blinkit, all of whom have made significant strides in the quick commerce sector. The expansion into quick commerce aligns with Flipkart's goals towards enhancing delivery capabilities and meeting evolving customer expectations. With quick commerce gaining prominence in India, Flipkart's entry comes at a crucial juncture when experts predict its potential to impact traditional e-commerce. The total addressable market for quick commerce in India is estimated to be around $45 billion, making it an attractive space for major players. Flipkart aims to leverage its extensive infrastructure, including a chain of stores across cities like Bengaluru, Delhi (NCR), and Hyderabad, to ensure swift deliveries and cater to a wide range of product categories. In response to the changing dynamics in the e-commerce landscape, Flipkart recently launched same-day delivery in 20 cities and introduced services like delivering flowers and cakes during the Valentine season. An anonymous analyst covering the e-commerce and quick commerce segments pointed out that these launches hinted at Flipkart's imminent foray into quick commerce. Flipkart spokesperson affirmed their plan towards delivering a broad range of products swiftly, covering categories like mobiles, essential items, electronics, home appliances, fashion, books, and lifestyle products. The current quick commerce players, Zepto, Blinkit, and Swiggy Instamart, have witnessed substantial growth, convincing investors of the sector's viability. While Zepto secured a unicorn round, Blinkit displayed a remarkable turnaround, and Swiggy Instamart experienced significant growth. According to Entracker, Flipkart aims to differentiate itself by offering a more extensive catalogue, focusing not only on FMCG, grocery, and daily essentials but also on categories like electronics and fashion. As Flipkart gears up for the quick commerce battle, sources indicate a wider catalogue than its competitors, potentially encompassing categories beyond essentials.

Flipkart to introduce quick commerce service: Targets 10-15 minute deliveries, says report

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions.

As per a press release by the Indian Embassy in Jakarta, the MoU, inked during the visit of a high-level delegation from BI to Mumbai, aims to enhance business ties between India and Indonesia by facilitating transactions in Indian Rupees (INR) and Indonesian Rupiahs (IDR).

The framework, the second of its kind for India with a foreign country after the UAE, encourages the use of INR and IDR in current account transactions, permissible capital account transactions, and other economic and financial dealings as agreed upon by both nations.

With bilateral trade between India and Indonesia reaching USD 40 billion in 2022, the MoU is expected to streamline trade processes, reduce settlement time and costs, and minimise foreign exchange volatility for exporters and importers.

The MoU lays the groundwork for more profound financial market integration, including opening the door for future payment system linkages.

This closer cooperation is set to benefit professionals working in each other's countries, fostering an environment conducive to financial growth.

Additionally, it holds promise for about half a million Indian tourists who visit Indonesia annually.

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions.

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions. As per a press release by the Indian Embassy in Jakarta, the MoU, inked during the visit of a high-level delegation from BI to Mumbai, aims to enhance business ties between India and Indonesia by facilitating transactions in Indian Rupees (INR) and Indonesian Rupiahs (IDR). The framework, the second of its kind for India with a foreign country after the UAE, encourages the use of INR and IDR in current account transactions, permissible capital account transactions, and other economic and financial dealings as agreed upon by both nations. With bilateral trade between India and Indonesia reaching USD 40 billion in 2022, the MoU is expected to streamline trade processes, reduce settlement time and costs, and minimise foreign exchange volatility for exporters and importers. The MoU lays the groundwork for more profound financial market integration, including opening the door for future payment system linkages. This closer cooperation is set to benefit professionals working in each other's countries, fostering an environment conducive to financial growth. Additionally, it holds promise for about half a million Indian tourists who visit Indonesia annually.

RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies

On this International women's day let's bring you a&nbsp;story from the late 19th century.

Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan. 
 
Her secret weapon? Hair care. In just over a decade, her empire, aptly named after herself, blossomed, generating millions (equivalent to nearly $10 million today) by empowering Black women to embrace their unique beauty. 
 
But her legacy extends beyond the bottom line. 
 
As her wealth grew, so did her heart. Madam Walker became a beacon of philanthropy and a champion for Black rights, etching her name not just in business history, but in the fight for equality. 
 
Foundations of flourishing 
 
Born Sarah Breedlove in 1867, life wasn't kind. Orphaned young, she married at 14, but fate dealt another blow when her husband died, leaving her with a daughter to raise. 
 
Seeking a new start, Sarah embarked to St. Louis in 1889. This bustling city sparked an interest in hair care. While juggling laundry and cooking jobs, Sarah battled hair loss and sought help from a local Black entrepreneur, Anne Turnbo Pope. 
 
Under Pope's treatments, her scalp thrived, and soon Sarah found herself selling Pope's remedies, becoming a door-to-door advocate for healthy hair. 
 
By 1905, her journey took her to Denver, where she became a sales agent for Pope, ready to spread the gospel of good hair care across the Western frontier. 
 
Triumphs and milestones 
 
In 1906, Sarah embarked on a bold journey with her hair treatment. She claimed inspiration struck her in a dream, where a towering figure, described as "a big Black man," imparted wisdom about a miraculous "remedy from Africa." 
 
Yet, whispers suggest her concoctions might have been influenced by Pope-Turnbo's elixirs, possibly refined with the assistance of a pharmacist friend she met while moonlighting as a cook. 
 
Under a new name Mrs. C.J. Walker, following her marriage to Charles Joseph Walker, Sarah introduced her inaugural product, the renowned Madam C.J. Walker's Wonderful Hair Grower, blending coconut oil and sulfur into a potent conditioner, all for a mere $1.25 investment. 
 
The returns? A staggering $1,000 that year alone. 
 
Her success reached new heights as she expanded her product line, showcasing an entire regimen during an extensive sales tour across the South, tripling revenues in its wake. 
 
By 1908, she had established a school in Pittsburgh, training "hair culturists" in her methods. Indianapolis became her next destination in 1910, transforming into the epicentre of the Madam C.J. Walker Manufacturing Company, complete with a bustling factory. 
 
Branch offices, salons, and training schools grew across cities, with Walker herself journeying to the Caribbean and Central America by 1913 to expand her empire. 
 
The financial reports of the Walker Manufacturing Company, preserved at the Indiana Historical Society, paint a vivid picture of prosperity: 
 
- 1917: $175,937 
- 1918: $275,937.88 
- 1919: $486,762 
- 1920: $595,353 
 
To review, $595,353 in 1920 translates to an amazing $16.9 million in today's currency. 
 
Sales flourished through mail orders, Walker Parlors, and a network of dedicated salespeople travelling the nation, offering a range of products from Temple Grower to Vegetable Shampoo, Glossine, and even cosmetics introduced in 1918. 
 
Walker's legacy extended far beyond her hair treatments; it symbolised empowerment and entrepreneurship for generations to come. 
 
The innovation engine 
 
Madam Walker rode the wave of the burgeoning Black middle class in the early 20th century, tapping into a community with newfound optional income eager to invest in beauty and self-care. 
 
Yet, her approach outperformed mere initiative; it was steeped in foresight and modern strategies that set her apart. 
 
In 1911, Walker logically incorporated the Madam C.J. Walker Manufacturing Company, injecting $10,000 of her capital and securing sole ownership of 1,000 shares at $10 each. 
 
This strategic move not only shielded her enterprise under the protective veil of the law but also granted a legal legitimacy rarely accessible to African American entrepreneurs of her time. 
 
Her company's multifaceted approach to sales and distribution set new standards. From a flourishing mail-order business to meticulously curated salons and treatment centres, Walker's empire thrived. 
 
She invested in a vital sales force comprised of independent yet closely-knit agents, providing ample training through specialised schools and affiliations with Black colleges. 
 
But Walker's brilliance didn't stop there. She meticulously crafted her image, weaving her narrative of ascent "from the washtub to the boardroom" into every advertisement and press release. 
 
Her face became synonymous with quality and success, anchoring her products in authenticity and efficacy. 
 
More than a trader of beauty, Walker positioned herself as a beacon of hope in an era where opportunities for Black women were scarce. Her opulent lifestyle, showcased through grand mansions, sleek automobiles, and plush offices, served as a testament to her achievements. 
 
Yet, she balanced this flashiness with generous contributions to African American causes and institutions, cementing her status as a trailblazer and philanthropist. 
 
In a time when Black celebrities were rare, Walker understood the power of her narrative and diligently cultivated her public persona, ensuring that her legacy would endure beyond her lifetime. 
 
Laurels of achievement 
 
Madam Walker's legacy echoes through the halls of fame, with honours vested upon her long after her earthly journey: 
 
In 1992, she mounted the pedestal of the Global Business Hall of Fame, once known as the National Business Hall of Fame, housed within the esteemed Museum of Science and Industry in Chicago. 
 
A year later, the echoes of her achievements resounded within the hallowed halls of the National Women's Hall of Fame in Seneca Falls, New York, where her name found its eternal place among the illustrious. 
 
The American Health and Beauty Aids Institute in Chicago also glorified her in their esteemed Hall of Fame, a testament to her profound impact on the industry. 
 
Her likeness stands immortalised in the National Great Blacks in Wax Museum in Baltimore, a testament to her enduring influence and cultural significance. In 1998, her visage graced a U.S. postage stamp, forever etching her into the annals of American history. 
 
The Direct Selling Association bestowed upon her the esteemed Distinguished Service Award, recognising her unparalleled contributions to the world of commerce. 
 
The National Coalition of 100 Black Women's Oakland/Bay area chapter annually celebrates her spirit through the Madam C.J. Walker Luncheon and Empowerment Forum, honouring her invincible legacy with an award that bears her name. 
 
In 2007, her remarkable journey became the subject of a Harvard Business School case study, ensuring that her pioneering spirit and business sense would inspire generations to come. 
 
The bridge between abundance and impact 
 
As her company flourished, Madam Walker's wealth transcended mere financial bounds. She delved into investments spanning real estate, adorned herself with jewels steeped in history, and curated a collection of antiques and art, painting her life with opulence. At the twilight of her days, her estate gleamed with assets nearing $600,000, a testament to her shrewd insight, worth a staggering $17.07 million in today's currency. 
 
Yet, Madam Walker's heartbeat is not just for prosperity but for the betterment of her people. Her philanthropic zeal mirrored her ascent, resonating with the inspiring call to "help my race." In 1911, she seeded the ground for community growth with a $1,000 contribution towards pitching a Black branch of the YMCA in Indianapolis. 
 
By 1918, her generosity knew no bounds as she spearheaded the campaign to liberate Frederick Douglass's abode from the shackles of debt. Her pledge of $5,000 to the NAACP's anti-lynching crusade in 1919 reverberated across the land, a beacon of hope amidst the darkness of racial injustice. 
 
Each donation stood as a monolith of benevolence, the largest single offering of its time, a hallmark of Madam Walker's unbeatable spirit. In her embrace of education, she illuminated paths at the Tuskegee Institute, sponsoring the tuition of six eager minds. 
 
Her will, a testament to her enduring legacy, endowed two-thirds of her company's net proceeds to noble causes, a perpetual wellspring of compassion. With a forward gaze, she earmarked $10,000 for an African mission school, sowing seeds of enlightenment across distant shores. 
 
Madam Walker's life was not just a story of riches amassed but of hearts uplifted, of dreams nurtured, and of destinies reshaped. Her philanthropy, a symphony of generosity, echoes through the corridors of time, a testament to the enduring power of one woman's vision. 
 
Inner landscape 
 
In the records of entrepreneurial history, Madam Walker's daughter, Lelia (later known as A'Lelia), emerges as a figure of considerable influence. In the newborn days of the company, she stood shoulder to shoulder with her mother, orchestrating the complex dance of supply and mail-order operations, her graceful touch guiding the company's early strides. As one of its esteemed board members, she lent her wisdom to the helm, a testament to her vital role in shaping its trajectory. 
 
But it was Lelia's vision that set the stage for a new chapter in the company's saga. In 1913, she made the bold move to New York, beckoning her mother to establish a foothold just as Harlem burgeoned into a pulsating nexus of Black commerce and artistic expression. 
 
Following Madam Walker's passing in 1919, the veil of leadership fell upon Lelia's shoulders, as she ascended to the presidency of the company. Yet, her stewardship zigged towards the realm of cultural custom and social refinement, as she cast her aura over the swelling Harlem Renaissance. Renowned poet Langston Hughes bestowed upon her the famed title of the "Joy Goddess of Harlem," a testament to her magnetic presence amid the spirited swirl of artistic innovation. 
 
The question lingers: Was Madam Walker the foremost African American female millionaire? The answer remains hidden in the mists of history's opacity. 
 
While the Guinness Book of World Records heralds her as the inaugural self-made American woman millionaire, the corridors of time bear witness to other stars who reportedly scaled the dizzying heights of seven-figure fortunes. 
 
The tapestry of Walker's wealth is woven with threads of complexity. Despite the meticulous documentation, the true extent of her riches remains shrouded in uncertainty. Newspaper headlines of the era proclaimed her as a "millionairess," even as she opposed, grappling with the untouchable nature of wealth's quantification. 
 
When she departed this mortal loop in 1919, her assets and investments stood at a tough $600,000, with her company commanding annual revenues nearing $500,000. By conservative estimates, the breakup value of her company exceeded $1.2 million, casting her into the rarefied echelons of millionaire status. 
 
In the mosaic of her legacy, Madam Walker's journey stands as a testament to resilience, innovation, and the indomitable spirit of entrepreneurship—a beacon of inspiration for generations to come. 
 
How did the Madam C.J. Walker company embrace evolution on its remarkable journey? 
 
Madam C.J. Walker Manufacturing Company endured beyond the earthly departure of its visionary founder in 1919. Through the roaring twenties, it stood as a beacon of innovation and enterprise, weathering the tempests of economic upheaval with fortitude. 
 
As the spectre of the Great Depression cast its shadow, the company's resilience wavered, yet it clung to its existence, a testament to its enduring spirit. Though the factory gates closed in 1981, the indomitable legacy of Madam Walker persevered through the shifting sands of time. 
 
In a symbolic passing of the torch, the trademark found new custodians, breathing life into the hallowed halls of tradition. For three decades, they meticulously crafted the original formulas, keeping alive the essence of Madam Walker's vision. 
 
Then, in a transformative moment of rebirth, Sundial Brands emerged as the torchbearer of Madam C.J. Walker's legacy in 2013. With reverence and innovation, they unveiled a new chapter under the banner of Madam C.J. Walker Beauty Culture in 2016, a testament to the enduring allure of her name. 
 
Today, the MADAM by Madam C.J. Walker product line graces the shelves of Walmart, a testament to the timeless allure and enduring legacy of one woman's indomitable spirit.&nbsp; 
 
Through the ebb and flow of history, Madam Walker's vision continues to resonate, a beacon of empowerment and beauty for generations to come.

On this International women's day let's bring you a story from the late 19th century. Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan.

On this International women's day let's bring you a story from the late 19th century. Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan. Her secret weapon? Hair care. In just over a decade, her empire, aptly named after herself, blossomed, generating millions (equivalent to nearly $10 million today) by empowering Black women to embrace their unique beauty. But her legacy extends beyond the bottom line. As her wealth grew, so did her heart. Madam Walker became a beacon of philanthropy and a champion for Black rights, etching her name not just in business history, but in the fight for equality. Foundations of flourishing Born Sarah Breedlove in 1867, life wasn't kind. Orphaned young, she married at 14, but fate dealt another blow when her husband died, leaving her with a daughter to raise. Seeking a new start, Sarah embarked to St. Louis in 1889. This bustling city sparked an interest in hair care. While juggling laundry and cooking jobs, Sarah battled hair loss and sought help from a local Black entrepreneur, Anne Turnbo Pope. Under Pope's treatments, her scalp thrived, and soon Sarah found herself selling Pope's remedies, becoming a door-to-door advocate for healthy hair. By 1905, her journey took her to Denver, where she became a sales agent for Pope, ready to spread the gospel of good hair care across the Western frontier. Triumphs and milestones In 1906, Sarah embarked on a bold journey with her hair treatment. She claimed inspiration struck her in a dream, where a towering figure, described as "a big Black man," imparted wisdom about a miraculous "remedy from Africa." Yet, whispers suggest her concoctions might have been influenced by Pope-Turnbo's elixirs, possibly refined with the assistance of a pharmacist friend she met while moonlighting as a cook. Under a new name Mrs. C.J. Walker, following her marriage to Charles Joseph Walker, Sarah introduced her inaugural product, the renowned Madam C.J. Walker's Wonderful Hair Grower, blending coconut oil and sulfur into a potent conditioner, all for a mere $1.25 investment. The returns? A staggering $1,000 that year alone. Her success reached new heights as she expanded her product line, showcasing an entire regimen during an extensive sales tour across the South, tripling revenues in its wake. By 1908, she had established a school in Pittsburgh, training "hair culturists" in her methods. Indianapolis became her next destination in 1910, transforming into the epicentre of the Madam C.J. Walker Manufacturing Company, complete with a bustling factory. Branch offices, salons, and training schools grew across cities, with Walker herself journeying to the Caribbean and Central America by 1913 to expand her empire. The financial reports of the Walker Manufacturing Company, preserved at the Indiana Historical Society, paint a vivid picture of prosperity: - 1917: $175,937 - 1918: $275,937.88 - 1919: $486,762 - 1920: $595,353 To review, $595,353 in 1920 translates to an amazing $16.9 million in today's currency. Sales flourished through mail orders, Walker Parlors, and a network of dedicated salespeople travelling the nation, offering a range of products from Temple Grower to Vegetable Shampoo, Glossine, and even cosmetics introduced in 1918. Walker's legacy extended far beyond her hair treatments; it symbolised empowerment and entrepreneurship for generations to come. The innovation engine Madam Walker rode the wave of the burgeoning Black middle class in the early 20th century, tapping into a community with newfound optional income eager to invest in beauty and self-care. Yet, her approach outperformed mere initiative; it was steeped in foresight and modern strategies that set her apart. In 1911, Walker logically incorporated the Madam C.J. Walker Manufacturing Company, injecting $10,000 of her capital and securing sole ownership of 1,000 shares at $10 each. This strategic move not only shielded her enterprise under the protective veil of the law but also granted a legal legitimacy rarely accessible to African American entrepreneurs of her time. Her company's multifaceted approach to sales and distribution set new standards. From a flourishing mail-order business to meticulously curated salons and treatment centres, Walker's empire thrived. She invested in a vital sales force comprised of independent yet closely-knit agents, providing ample training through specialised schools and affiliations with Black colleges. But Walker's brilliance didn't stop there. She meticulously crafted her image, weaving her narrative of ascent "from the washtub to the boardroom" into every advertisement and press release. Her face became synonymous with quality and success, anchoring her products in authenticity and efficacy. More than a trader of beauty, Walker positioned herself as a beacon of hope in an era where opportunities for Black women were scarce. Her opulent lifestyle, showcased through grand mansions, sleek automobiles, and plush offices, served as a testament to her achievements. Yet, she balanced this flashiness with generous contributions to African American causes and institutions, cementing her status as a trailblazer and philanthropist. In a time when Black celebrities were rare, Walker understood the power of her narrative and diligently cultivated her public persona, ensuring that her legacy would endure beyond her lifetime. Laurels of achievement Madam Walker's legacy echoes through the halls of fame, with honours vested upon her long after her earthly journey: In 1992, she mounted the pedestal of the Global Business Hall of Fame, once known as the National Business Hall of Fame, housed within the esteemed Museum of Science and Industry in Chicago. A year later, the echoes of her achievements resounded within the hallowed halls of the National Women's Hall of Fame in Seneca Falls, New York, where her name found its eternal place among the illustrious. The American Health and Beauty Aids Institute in Chicago also glorified her in their esteemed Hall of Fame, a testament to her profound impact on the industry. Her likeness stands immortalised in the National Great Blacks in Wax Museum in Baltimore, a testament to her enduring influence and cultural significance. In 1998, her visage graced a U.S. postage stamp, forever etching her into the annals of American history. The Direct Selling Association bestowed upon her the esteemed Distinguished Service Award, recognising her unparalleled contributions to the world of commerce. The National Coalition of 100 Black Women's Oakland/Bay area chapter annually celebrates her spirit through the Madam C.J. Walker Luncheon and Empowerment Forum, honouring her invincible legacy with an award that bears her name. In 2007, her remarkable journey became the subject of a Harvard Business School case study, ensuring that her pioneering spirit and business sense would inspire generations to come. The bridge between abundance and impact As her company flourished, Madam Walker's wealth transcended mere financial bounds. She delved into investments spanning real estate, adorned herself with jewels steeped in history, and curated a collection of antiques and art, painting her life with opulence. At the twilight of her days, her estate gleamed with assets nearing $600,000, a testament to her shrewd insight, worth a staggering $17.07 million in today's currency. Yet, Madam Walker's heartbeat is not just for prosperity but for the betterment of her people. Her philanthropic zeal mirrored her ascent, resonating with the inspiring call to "help my race." In 1911, she seeded the ground for community growth with a $1,000 contribution towards pitching a Black branch of the YMCA in Indianapolis. By 1918, her generosity knew no bounds as she spearheaded the campaign to liberate Frederick Douglass's abode from the shackles of debt. Her pledge of $5,000 to the NAACP's anti-lynching crusade in 1919 reverberated across the land, a beacon of hope amidst the darkness of racial injustice. Each donation stood as a monolith of benevolence, the largest single offering of its time, a hallmark of Madam Walker's unbeatable spirit. In her embrace of education, she illuminated paths at the Tuskegee Institute, sponsoring the tuition of six eager minds. Her will, a testament to her enduring legacy, endowed two-thirds of her company's net proceeds to noble causes, a perpetual wellspring of compassion. With a forward gaze, she earmarked $10,000 for an African mission school, sowing seeds of enlightenment across distant shores. Madam Walker's life was not just a story of riches amassed but of hearts uplifted, of dreams nurtured, and of destinies reshaped. Her philanthropy, a symphony of generosity, echoes through the corridors of time, a testament to the enduring power of one woman's vision. Inner landscape In the records of entrepreneurial history, Madam Walker's daughter, Lelia (later known as A'Lelia), emerges as a figure of considerable influence. In the newborn days of the company, she stood shoulder to shoulder with her mother, orchestrating the complex dance of supply and mail-order operations, her graceful touch guiding the company's early strides. As one of its esteemed board members, she lent her wisdom to the helm, a testament to her vital role in shaping its trajectory. But it was Lelia's vision that set the stage for a new chapter in the company's saga. In 1913, she made the bold move to New York, beckoning her mother to establish a foothold just as Harlem burgeoned into a pulsating nexus of Black commerce and artistic expression. Following Madam Walker's passing in 1919, the veil of leadership fell upon Lelia's shoulders, as she ascended to the presidency of the company. Yet, her stewardship zigged towards the realm of cultural custom and social refinement, as she cast her aura over the swelling Harlem Renaissance. Renowned poet Langston Hughes bestowed upon her the famed title of the "Joy Goddess of Harlem," a testament to her magnetic presence amid the spirited swirl of artistic innovation. The question lingers: Was Madam Walker the foremost African American female millionaire? The answer remains hidden in the mists of history's opacity. While the Guinness Book of World Records heralds her as the inaugural self-made American woman millionaire, the corridors of time bear witness to other stars who reportedly scaled the dizzying heights of seven-figure fortunes. The tapestry of Walker's wealth is woven with threads of complexity. Despite the meticulous documentation, the true extent of her riches remains shrouded in uncertainty. Newspaper headlines of the era proclaimed her as a "millionairess," even as she opposed, grappling with the untouchable nature of wealth's quantification. When she departed this mortal loop in 1919, her assets and investments stood at a tough $600,000, with her company commanding annual revenues nearing $500,000. By conservative estimates, the breakup value of her company exceeded $1.2 million, casting her into the rarefied echelons of millionaire status. In the mosaic of her legacy, Madam Walker's journey stands as a testament to resilience, innovation, and the indomitable spirit of entrepreneurship—a beacon of inspiration for generations to come. How did the Madam C.J. Walker company embrace evolution on its remarkable journey? Madam C.J. Walker Manufacturing Company endured beyond the earthly departure of its visionary founder in 1919. Through the roaring twenties, it stood as a beacon of innovation and enterprise, weathering the tempests of economic upheaval with fortitude. As the spectre of the Great Depression cast its shadow, the company's resilience wavered, yet it clung to its existence, a testament to its enduring spirit. Though the factory gates closed in 1981, the indomitable legacy of Madam Walker persevered through the shifting sands of time. In a symbolic passing of the torch, the trademark found new custodians, breathing life into the hallowed halls of tradition. For three decades, they meticulously crafted the original formulas, keeping alive the essence of Madam Walker's vision. Then, in a transformative moment of rebirth, Sundial Brands emerged as the torchbearer of Madam C.J. Walker's legacy in 2013. With reverence and innovation, they unveiled a new chapter under the banner of Madam C.J. Walker Beauty Culture in 2016, a testament to the enduring allure of her name. Today, the MADAM by Madam C.J. Walker product line graces the shelves of Walmart, a testament to the timeless allure and enduring legacy of one woman's indomitable spirit. Through the ebb and flow of history, Madam Walker's vision continues to resonate, a beacon of empowerment and beauty for generations to come.

Flashback Friday | Madam CJ Walker: From cotton fields to hair care queen

China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts. <o:p></o:p>

Despite scepticism from some economists, top Chinese officials, including Zheng Shanjie of the National Development and Reform Commission, emphasised the feasibility of this goal during a press briefing at the National People's Congress. <o:p></o:p>

The leadership's commitment comes while challenges and uncertainties threaten China's economic recovery. <o:p></o:p>

Defending the 5 per cent target<o:p></o:p>

According to the South China Morning Post, Zheng Shanjie, Chairman of the National Development and Reform Commission, defended China's 5 per cent GDP growth target, asserting it as a "positive goal reachable with a jump." <o:p></o:p>

The announcement was made during the National People's Congress, where leaders addressed concerns and outlined plans to navigate economic headwinds. <o:p></o:p>

The target aligns with China's growth potential and is deemed achievable through a concerted effort.<o:p></o:p>

Economic landscape and challenges<o:p></o:p>

Despite a strong start in the first quarter, authorities acknowledge that achieving 5 per cent economic growth won't be without challenges. <o:p></o:p>

Zheng Shanjie pointed out hurdles such as deflationary risks, a property market downturn, and external pressures. <o:p></o:p>

While the goal is set at 5 per cent, many economists, including the International Monetary Fund, predict a slightly lower GDP growth, citing uncertainties in China's economic outlook. <o:p></o:p>

Monetary policy and financial tools<o:p></o:p>

The South China Morning Post report cited Central Bank governor Pan Gongsheng who noted that Beijing has a deep monetary policy toolkit and assured that further measures are in progress to address deflationary risks. <o:p></o:p>

The focus is on stabilising price levels, promoting a mild rebound in prices, and ensuring the health of the banking sector's balance sheet. <o:p></o:p>

While market concerns persist, the central bank is optimistic about supporting the ambitious GDP growth target through strategic monetary policies.<o:p></o:p>

Diversification and economic drivers<o:p></o:p>

China is banking on various strategies to achieve its growth target. <o:p></o:p>

Officials highlight the importance of a large-scale trade-in program for home appliances, replacement programs for used cars and outdated equipment, and the issuance of ultra-long-term special treasury bonds. <o:p></o:p>

The emphasis is also on boosting the "new three" exports—electric vehicles, lithium-ion batteries, and solar panels—to become the main economic drivers. <o:p></o:p>

Long-term strategy and global market presence<o:p></o:p>

Minister of Commerce Wang Wentao said that promoting the replacement of old consumer goods with new ones is a powerful measure for economic growth and a long-term strategy for high-quality development. <o:p></o:p>

China's policy tools, including interest rate cuts, reserve requirement ratio cuts, and tax reductions, are expected to continue to support economic growth. <o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts.

China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts. Despite scepticism from some economists, top Chinese officials, including Zheng Shanjie of the National Development and Reform Commission, emphasised the feasibility of this goal during a press briefing at the National People's Congress. The leadership's commitment comes while challenges and uncertainties threaten China's economic recovery. Defending the 5 per cent target According to the South China Morning Post, Zheng Shanjie, Chairman of the National Development and Reform Commission, defended China's 5 per cent GDP growth target, asserting it as a "positive goal reachable with a jump." The announcement was made during the National People's Congress, where leaders addressed concerns and outlined plans to navigate economic headwinds. The target aligns with China's growth potential and is deemed achievable through a concerted effort. Economic landscape and challenges Despite a strong start in the first quarter, authorities acknowledge that achieving 5 per cent economic growth won't be without challenges. Zheng Shanjie pointed out hurdles such as deflationary risks, a property market downturn, and external pressures. While the goal is set at 5 per cent, many economists, including the International Monetary Fund, predict a slightly lower GDP growth, citing uncertainties in China's economic outlook. Monetary policy and financial tools The South China Morning Post report cited Central Bank governor Pan Gongsheng who noted that Beijing has a deep monetary policy toolkit and assured that further measures are in progress to address deflationary risks. The focus is on stabilising price levels, promoting a mild rebound in prices, and ensuring the health of the banking sector's balance sheet. While market concerns persist, the central bank is optimistic about supporting the ambitious GDP growth target through strategic monetary policies. Diversification and economic drivers China is banking on various strategies to achieve its growth target. Officials highlight the importance of a large-scale trade-in program for home appliances, replacement programs for used cars and outdated equipment, and the issuance of ultra-long-term special treasury bonds. The emphasis is also on boosting the "new three" exports—electric vehicles, lithium-ion batteries, and solar panels—to become the main economic drivers. Long-term strategy and global market presence Minister of Commerce Wang Wentao said that promoting the replacement of old consumer goods with new ones is a powerful measure for economic growth and a long-term strategy for high-quality development. China's policy tools, including interest rate cuts, reserve requirement ratio cuts, and tax reductions, are expected to continue to support economic growth. (With inputs from Bloomberg)

China aims for 5pc GDP growth amid scepticism - promises vigorous effort to achieve target

India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil. <o:p></o:p>

The nation's pursuit of becoming the world's third-largest economy by fiscal year 2031 has gained momentum, backed by domestic reforms and favourable cyclical factors. <o:p></o:p>

The projections indicate a potential shift to upper-middle-income status, marking a significant milestone in India's economic landscape.<o:p></o:p>

Growth predictions and milestones<o:p></o:p>

Crisil's India Outlook report projects India's GDP to grow by 6.8 per cent in fiscal year 2025, following a better-than-expected 7.6 per cent growth in the current fiscal year. <o:p></o:p>

Over the subsequent seven years, from 2025 to 2031, the Indian economy is poised to exceed $5 trillion and approach $7 trillion. <o:p></o:p>

This growth trajectory places India on track to become the world's third-largest economy, accompanied by a per capita income reaching $4,500 by fiscal year 2031.<o:p></o:p>

Upper-middle-income aspiration<o:p></o:p>

The anticipated rise in per capita income to $4,500 by fiscal year 2031 positions India within the upper-middle-income category, as defined by Crisil. <o:p></o:p>

Currently the fifth-largest economy globally, India's ascent toward the $6.7 trillion milestone is underpinned by robust growth expectations, driven by manufacturing, services, and strategic reforms. <o:p></o:p>

The World Bank classifies upper-middle-income economies with a Gross National Income (GNI) per capita ranging from $4,256 to $13,205. <o:p></o:p>

Economic drivers and sectoral growth<o:p></o:p>

Crisil's Chief Economist, Dharmakirti Joshi, highlighted that manufacturing and services would be add most to India's growth. <o:p></o:p>

The report noted that manufacturing is thriving, propelled by factors such as global supply-chain diversification, infrastructure investment, and green transition initiatives. <o:p></o:p>

The ratings agency foresees manufacturing and services growing at 9.1 per cent and 6.9 per cent, respectively, between fiscal years 2025 and 2031. <o:p></o:p>

Despite manufacturing growth, services are expected to remain the dominant driver of India's overall economic expansion.<o:p></o:p>

Economic landscape and global impact<o:p></o:p>

The report highlights India's position as the world's fastest-growing major economy, even as the nation eyes a growth rate slightly below the Reserve Bank of India's (RBI) projection of 7 per cent in the next fiscal year. <o:p></o:p>

With the economy soaring ahead in the December quarter, key sectors like mining, manufacturing, construction, and services are instrumental in driving India's economic expansion. <o:p></o:p>

Crisil envisions sustained growth momentum throughout the decade, fuelled by private sector investments, government infrastructure spending, ongoing reforms, and advancements in digital and physical connectivity.<o:p></o:p>

Inflation<o:p></o:p>

Crisil anticipates a dip in inflation in the upcoming fiscal year, attributed to reduced input costs, subdued domestic demand, improved agricultural production, and stable oil and commodity prices. <o:p></o:p>

India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil. The nation's pursuit of becoming the world's third-largest economy by fiscal year 2031 has gained momentum, backed by domestic reforms and favourable cyclical factors.

India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil. The nation's pursuit of becoming the world's third-largest economy by fiscal year 2031 has gained momentum, backed by domestic reforms and favourable cyclical factors. The projections indicate a potential shift to upper-middle-income status, marking a significant milestone in India's economic landscape. Growth predictions and milestones Crisil's India Outlook report projects India's GDP to grow by 6.8 per cent in fiscal year 2025, following a better-than-expected 7.6 per cent growth in the current fiscal year. Over the subsequent seven years, from 2025 to 2031, the Indian economy is poised to exceed $5 trillion and approach $7 trillion. This growth trajectory places India on track to become the world's third-largest economy, accompanied by a per capita income reaching $4,500 by fiscal year 2031. Upper-middle-income aspiration The anticipated rise in per capita income to $4,500 by fiscal year 2031 positions India within the upper-middle-income category, as defined by Crisil. Currently the fifth-largest economy globally, India's ascent toward the $6.7 trillion milestone is underpinned by robust growth expectations, driven by manufacturing, services, and strategic reforms. The World Bank classifies upper-middle-income economies with a Gross National Income (GNI) per capita ranging from $4,256 to $13,205. Economic drivers and sectoral growth Crisil's Chief Economist, Dharmakirti Joshi, highlighted that manufacturing and services would be add most to India's growth. The report noted that manufacturing is thriving, propelled by factors such as global supply-chain diversification, infrastructure investment, and green transition initiatives. The ratings agency foresees manufacturing and services growing at 9.1 per cent and 6.9 per cent, respectively, between fiscal years 2025 and 2031. Despite manufacturing growth, services are expected to remain the dominant driver of India's overall economic expansion. Economic landscape and global impact The report highlights India's position as the world's fastest-growing major economy, even as the nation eyes a growth rate slightly below the Reserve Bank of India's (RBI) projection of 7 per cent in the next fiscal year. With the economy soaring ahead in the December quarter, key sectors like mining, manufacturing, construction, and services are instrumental in driving India's economic expansion. Crisil envisions sustained growth momentum throughout the decade, fuelled by private sector investments, government infrastructure spending, ongoing reforms, and advancements in digital and physical connectivity. Inflation Crisil anticipates a dip in inflation in the upcoming fiscal year, attributed to reduced input costs, subdued domestic demand, improved agricultural production, and stable oil and commodity prices.

India's Economic Ascent: Projected to grow 6.8 pc in FY25, country eyes upper-middle-income status by 2031

The Republican-controlled US House of Representatives has successfully passed a $467.5 billion spending package, marking a crucial step to prevent a partial government shutdown. <o:p></o:p>

With a vote of 339-85, the House approved the comprehensive bill, which covers funding for approximately 30 per cent of the federal government, including key departments such as Agriculture, Justice, Transportation, Housing and Urban Development, among others. <o:p></o:p>

The legislation, comprising 1,050 pages, is now set to move to the Senate, aiming for passage before the midnight deadline on Friday when temporary funding expires for multiple Washington agencies.<o:p></o:p>

Republican House Speaker Mike Johnson faced a challenge in obtaining support for the bill, relying on Democrats to secure its passage. <o:p></o:p>

The bill is a compilation of six funding bills, maintaining operations in significant federal bureaucracies, military base construction projects, and veterans' care. <o:p></o:p>

Despite opposition from 83 Republicans, the legislation now awaits Senate approval before the looming shutdown deadline.<o:p></o:p>

The spending package, aiming to fund federal programs until September 30, follows months of negotiations and a series of challenges for Speaker Mike Johnson, who inherited a slim 219-213 majority after the ouster of Kevin McCarthy. <o:p></o:p>

Critics, particularly hardlining conservatives, raised concerns about spending caps and the bill's failure to address Republican policy priorities. <o:p></o:p>

Representative Mike Simpson defended the bill, highlighting the need to control the federal government's growth.<o:p></o:p>

As Senate deliberations begin, the threat of a government shutdown looms once again in two weeks. <o:p></o:p>

The bill, extending funding for federal programs, marks the initial step in averting a shutdown. <o:p></o:p>

The Senate, led by both House and Senate leaders' commitment, is expected to back the measure with ample time before the impending deadline. <o:p></o:p>

The delay in passing full-year government funding measures has been a persistent issue, with Congress more than five months behind schedule. <o:p></o:p>

The spending bill's passage provides momentum for lawmakers to address the remaining six bills by the March 22 deadline, encompassing major government agencies such as the Defence Department, Homeland Security, State Department, and Health and Human Services.<o:p></o:p>

While Capitol Hill has been embroiled in spending disputes between Republicans and Democrats, the spending package is seen as a compromise. <o:p></o:p>

The legislation, upon Senate approval and President Joe Biden's signature, will extend funding for various federal programs and offer stability until the end of September. <o:p></o:p>

The breakthrough in passing this bill is timely for President Biden as he prepares to deliver his State of the Union address to Congress on Thursday.<o:p></o:p>

(With inputs from agencies)<o:p></o:p>

The Republican-controlled US House of Representatives has successfully passed a $467.5 billion spending package, marking a crucial step to prevent a partial government shutdown.

The Republican-controlled US House of Representatives has successfully passed a $467.5 billion spending package, marking a crucial step to prevent a partial government shutdown. With a vote of 339-85, the House approved the comprehensive bill, which covers funding for approximately 30 per cent of the federal government, including key departments such as Agriculture, Justice, Transportation, Housing and Urban Development, among others. The legislation, comprising 1,050 pages, is now set to move to the Senate, aiming for passage before the midnight deadline on Friday when temporary funding expires for multiple Washington agencies. Republican House Speaker Mike Johnson faced a challenge in obtaining support for the bill, relying on Democrats to secure its passage. The bill is a compilation of six funding bills, maintaining operations in significant federal bureaucracies, military base construction projects, and veterans' care. Despite opposition from 83 Republicans, the legislation now awaits Senate approval before the looming shutdown deadline. The spending package, aiming to fund federal programs until September 30, follows months of negotiations and a series of challenges for Speaker Mike Johnson, who inherited a slim 219-213 majority after the ouster of Kevin McCarthy. Critics, particularly hardlining conservatives, raised concerns about spending caps and the bill's failure to address Republican policy priorities. Representative Mike Simpson defended the bill, highlighting the need to control the federal government's growth. As Senate deliberations begin, the threat of a government shutdown looms once again in two weeks. The bill, extending funding for federal programs, marks the initial step in averting a shutdown. The Senate, led by both House and Senate leaders' commitment, is expected to back the measure with ample time before the impending deadline. The delay in passing full-year government funding measures has been a persistent issue, with Congress more than five months behind schedule. The spending bill's passage provides momentum for lawmakers to address the remaining six bills by the March 22 deadline, encompassing major government agencies such as the Defence Department, Homeland Security, State Department, and Health and Human Services. While Capitol Hill has been embroiled in spending disputes between Republicans and Democrats, the spending package is seen as a compromise. The legislation, upon Senate approval and President Joe Biden's signature, will extend funding for various federal programs and offer stability until the end of September. The breakthrough in passing this bill is timely for President Biden as he prepares to deliver his State of the Union address to Congress on Thursday. (With inputs from agencies)

US House passes $467.5 billion spending bill, averts imminent government shutdown

To address its severe economic challenges, Egypt has inked an expansive $8 billion loan agreement with the International Monetary Fund (IMF). <o:p></o:p>

The deal marks a more than doubling of the existing rescue program, following extensive efforts, including a substantial devaluation and a noteworthy interest-rate hike, reflecting Egypt's efforts&nbsp;to tackle its worst foreign-currency crunch in decades.<o:p></o:p>

The $3 billion, 46-month Extended Fund Facility that was first negotiated with the IMF in December 2022 is being expanded by this agreement. <o:p></o:p>

This program faced delays as Egypt temporarily reverted to a tightly managed exchange rate system and encountered challenges in divesting state assets and bolstering private sector roles. <o:p></o:p>

The latest deal is a vital step towards Egypt's economic recovery, addressing the fallout from the war in Ukraine and subsequent investor pull-out, which exposed the nation's financial vulnerabilities.<o:p></o:p>

To complement the IMF deal, Egypt is also seeking an additional loan from the IMF's Resilience and Sustainability Facility, designed to promote climate transition financing. <o:p></o:p>

Prime Minister Mostafa Madbouly revealed the anticipated amount for this separate loan as $1.2 billion. <o:p></o:p>

A Reuters report cited Ivana Vladkova Hollar, the IMF's Egypt mission chief, who emphasised the sustainable move towards a unified market-determined exchange rate, stating, "under this framework, you would observe not just devaluations, but you would observe two-way movements in the exchange rate as it moves in response to economic conditions." <o:p></o:p>

The IMF highlighted policy discussions centred on commitments to a flexible exchange rate, fiscal consolidation, and reforms to eliminate privileges for state-owned enterprises.<o:p></o:p>

Egypt's economic policies, including major projects like a new capital city east of Cairo, have been a focal point under President Abdel Fattah al-Sisi. <o:p></o:p>

These projects, aimed at job creation and economic growth, have faced scrutiny amid Egypt's surging debt burden. <o:p></o:p>

The recent deal, less than two weeks after Egypt's agreement with the Emirati sovereign wealth fund ADQ, adds momentum to the nation's economic recovery efforts. <o:p></o:p>

While the devaluation may lead to short-term inflation concerns, Egypt's officials, including President Abdel-Fattah El-Sisi, believe that these reforms will attract foreign investors and ultimately bring an end to the country's worst economic crisis in decades. <o:p></o:p>

(With inputs from Reuters and Bloomberg)<o:p></o:p>

To address its severe economic challenges, Egypt has inked an expansive $8 billion loan agreement with the International Monetary Fund (IMF). The deal marks a more than doubling of the existing rescue program, following extensive efforts, including a substantial devaluation and a noteworthy interest-rate hike, reflecting Egypt's efforts to tackle its worst foreign-currency crunch in decades.

To address its severe economic challenges, Egypt has inked an expansive $8 billion loan agreement with the International Monetary Fund (IMF). The deal marks a more than doubling of the existing rescue program, following extensive efforts, including a substantial devaluation and a noteworthy interest-rate hike, reflecting Egypt's efforts to tackle its worst foreign-currency crunch in decades. The $3 billion, 46-month Extended Fund Facility that was first negotiated with the IMF in December 2022 is being expanded by this agreement. This program faced delays as Egypt temporarily reverted to a tightly managed exchange rate system and encountered challenges in divesting state assets and bolstering private sector roles. The latest deal is a vital step towards Egypt's economic recovery, addressing the fallout from the war in Ukraine and subsequent investor pull-out, which exposed the nation's financial vulnerabilities. To complement the IMF deal, Egypt is also seeking an additional loan from the IMF's Resilience and Sustainability Facility, designed to promote climate transition financing. Prime Minister Mostafa Madbouly revealed the anticipated amount for this separate loan as $1.2 billion. A Reuters report cited Ivana Vladkova Hollar, the IMF's Egypt mission chief, who emphasised the sustainable move towards a unified market-determined exchange rate, stating, "under this framework, you would observe not just devaluations, but you would observe two-way movements in the exchange rate as it moves in response to economic conditions." The IMF highlighted policy discussions centred on commitments to a flexible exchange rate, fiscal consolidation, and reforms to eliminate privileges for state-owned enterprises. Egypt's economic policies, including major projects like a new capital city east of Cairo, have been a focal point under President Abdel Fattah al-Sisi. These projects, aimed at job creation and economic growth, have faced scrutiny amid Egypt's surging debt burden. The recent deal, less than two weeks after Egypt's agreement with the Emirati sovereign wealth fund ADQ, adds momentum to the nation's economic recovery efforts. While the devaluation may lead to short-term inflation concerns, Egypt's officials, including President Abdel-Fattah El-Sisi, believe that these reforms will attract foreign investors and ultimately bring an end to the country's worst economic crisis in decades. (With inputs from Reuters and Bloomberg)

Egypt boosts economic resilience: Inks $8 billion IMF deal

US regulators are reportedly gearing up for a huge reduction in the additional capital requirements that banks must maintain under the proposed "Basel III" rule. <o:p></o:p>

The proposal, unveiled by bank regulators led by the Federal Reserve in July, aims to overhaul how banks with assets exceeding $100 billion calculate the cash reserves needed to absorb potential losses. <o:p></o:p>

However, Wall Street has launched an aggressive pushback against the rule, prompting regulatory officials to consider significant alterations.<o:p></o:p>

Anticipated capital reduction<o:p></o:p>

Industry insiders, comprising eight executives in regular contact with regulatory agencies, revealed that discussions are underway to significantly decrease the proposed capital burden. <o:p></o:p>

The initial proposal suggested an aggregate capital increase of around 16 per cent for the affected lenders. <o:p></o:p>

However, this figure is expected to see a sharp decline as regulators delve into a comprehensive revision of the draft. <o:p></o:p>

The focus is on recalibrating the calculation of potential losses from operational risks, particularly in fee income related to lending services.<o:p></o:p>

Operational risk and mortgage adjustments<o:p></o:p>

The most highest capital savings are expected to arise from adjustments in how banks calculate potential losses from operational risks, a costly aspect of the proposal. <o:p></o:p>

Wall Street has been advocating for reduced risk weights for fee income linked to lending services. <o:p></o:p>

Additionally, regulators are contemplating the elimination or reduction of higher risk weights on mortgages for low-income borrowers and renewable energy tax credits. <o:p></o:p>

These potential changes are part of the ongoing rewriting led by Fed Vice Chair for Supervision Michael Barr, in collaboration with Fed Chair Jerome Powell.<o:p></o:p>

Regulatory response and opposition<o:p></o:p>

Regulatory discussions, still in their early stages, indicate a willingness to address concerns raised by industry players. <o:p></o:p>

Powell, during congressional testimony, acknowledged the intense opposition, stating that "broad, material" changes are anticipated in the rewritten rule. <o:p></o:p>

The unprecedented intensity of Wall Street's efforts to quash the proposal involves advertising, grassroots campaigns, lobbying, and potential legal action. <o:p></o:p>

Despite the opposition, officials have not confirmed whether the rule will be reproposed, leaving the timeline for its completion uncertain.<o:p></o:p>

Dissent and legal challenges<o:p></o:p>

The Basel III proposal, aligning with international capital standards, has encountered dissent from within the Fed's board. <o:p></o:p>

Governors Michelle Bowman and Christopher Waller, along with Vice Chair Philip Jefferson, expressed reservations about the potential adverse impact on borrowers. <o:p></o:p>

The Bank Policy Institute has even hired former Labour Secretary Eugene Scalia to explore the possibility of a lawsuit, highlighting the unexpected intensity of opposition faced by regulators. <o:p></o:p>

This dissent may play a crucial role in any legal battles, showcasing divisions among experts.<o:p></o:p>

Industry engagement and timeline concerns<o:p></o:p>

Federal Reserve officials, including Powell and Barr, have engaged in over 50 meetings or calls with hundreds of industry executives since September. <o:p></o:p>

Despite these discussions, a consensus has not been reached, and challenges remain in reaching an agreement with the FDIC, chaired by Martin Gruenberg, a known Wall Street critic. <o:p></o:p>

While some hope to finalise the rule by summer, concerns linger that the timeline may prove overly ambitious.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

US regulators are reportedly gearing up for a huge reduction in the additional capital requirements that banks must maintain under the proposed "Basel III" rule.

US regulators are reportedly gearing up for a huge reduction in the additional capital requirements that banks must maintain under the proposed "Basel III" rule. The proposal, unveiled by bank regulators led by the Federal Reserve in July, aims to overhaul how banks with assets exceeding $100 billion calculate the cash reserves needed to absorb potential losses. However, Wall Street has launched an aggressive pushback against the rule, prompting regulatory officials to consider significant alterations. Anticipated capital reduction Industry insiders, comprising eight executives in regular contact with regulatory agencies, revealed that discussions are underway to significantly decrease the proposed capital burden. The initial proposal suggested an aggregate capital increase of around 16 per cent for the affected lenders. However, this figure is expected to see a sharp decline as regulators delve into a comprehensive revision of the draft. The focus is on recalibrating the calculation of potential losses from operational risks, particularly in fee income related to lending services. Operational risk and mortgage adjustments The most highest capital savings are expected to arise from adjustments in how banks calculate potential losses from operational risks, a costly aspect of the proposal. Wall Street has been advocating for reduced risk weights for fee income linked to lending services. Additionally, regulators are contemplating the elimination or reduction of higher risk weights on mortgages for low-income borrowers and renewable energy tax credits. These potential changes are part of the ongoing rewriting led by Fed Vice Chair for Supervision Michael Barr, in collaboration with Fed Chair Jerome Powell. Regulatory response and opposition Regulatory discussions, still in their early stages, indicate a willingness to address concerns raised by industry players. Powell, during congressional testimony, acknowledged the intense opposition, stating that "broad, material" changes are anticipated in the rewritten rule. The unprecedented intensity of Wall Street's efforts to quash the proposal involves advertising, grassroots campaigns, lobbying, and potential legal action. Despite the opposition, officials have not confirmed whether the rule will be reproposed, leaving the timeline for its completion uncertain. Dissent and legal challenges The Basel III proposal, aligning with international capital standards, has encountered dissent from within the Fed's board. Governors Michelle Bowman and Christopher Waller, along with Vice Chair Philip Jefferson, expressed reservations about the potential adverse impact on borrowers. The Bank Policy Institute has even hired former Labour Secretary Eugene Scalia to explore the possibility of a lawsuit, highlighting the unexpected intensity of opposition faced by regulators. This dissent may play a crucial role in any legal battles, showcasing divisions among experts. Industry engagement and timeline concerns Federal Reserve officials, including Powell and Barr, have engaged in over 50 meetings or calls with hundreds of industry executives since September. Despite these discussions, a consensus has not been reached, and challenges remain in reaching an agreement with the FDIC, chaired by Martin Gruenberg, a known Wall Street critic. While some hope to finalise the rule by summer, concerns linger that the timeline may prove overly ambitious. (With inputs from Reuters)

US regulators poised for significant cut in Basel capital demands amid intense Wall Street opposition

OpenAI has issued an official response to a lawsuit filed by Elon Musk, alleging that the tech entrepreneur pushed for the AI startup to merge with Tesla or grant him full control. <o:p></o:p>

OpenAI's response detailed the discussions with Musk regarding a shift to a for-profit structure. <o:p></o:p>

The company claimed that Musk wanted either a merger with Tesla or complete control, including majority equity, initial board control, and the CEO position. <o:p></o:p>

OpenAI asserted that they could not agree to these terms as it contradicted their mission of preventing any individual from having absolute control. <o:p></o:p>

Musk allegedly suggested linking OpenAI with Tesla as a 'cash cow,' a proposal the start-up rejected.<o:p></o:p>

Quoting an email from Musk, OpenAI revealed their perspective on Tesla, stating, "Tesla is the only path that could even hope to hold a candle to Google. Even then, the probability of being a counterweight to Google is small. It just isn’t zero."<o:p></o:p>

Elon Musk, in his lawsuit, accused OpenAI of transforming into a closed-source subsidiary of Microsoft, prioritising profits for the tech giant over the original mission for the benefit of humanity. <o:p></o:p>

He demanded that OpenAI revert to an open-source platform, citing a breach of fiduciary duty --&nbsp;actions taken in the best interests of another person or entity,&nbsp;and unfair business practices.<o:p></o:p>

In response to Musk's conditions for dropping the lawsuit, OpenAI also revealed that Musk proposed a name change to "ClosedAI." <o:p></o:p>

OpenAI has issued an official response to a lawsuit filed by Elon Musk, alleging that the tech entrepreneur pushed for the AI startup to merge with Tesla or grant him full control.

OpenAI has issued an official response to a lawsuit filed by Elon Musk, alleging that the tech entrepreneur pushed for the AI startup to merge with Tesla or grant him full control. OpenAI's response detailed the discussions with Musk regarding a shift to a for-profit structure. The company claimed that Musk wanted either a merger with Tesla or complete control, including majority equity, initial board control, and the CEO position. OpenAI asserted that they could not agree to these terms as it contradicted their mission of preventing any individual from having absolute control. Musk allegedly suggested linking OpenAI with Tesla as a 'cash cow,' a proposal the start-up rejected. Quoting an email from Musk, OpenAI revealed their perspective on Tesla, stating, "Tesla is the only path that could even hope to hold a candle to Google. Even then, the probability of being a counterweight to Google is small. It just isn’t zero." Elon Musk, in his lawsuit, accused OpenAI of transforming into a closed-source subsidiary of Microsoft, prioritising profits for the tech giant over the original mission for the benefit of humanity. He demanded that OpenAI revert to an open-source platform, citing a breach of fiduciary duty -- actions taken in the best interests of another person or entity, and unfair business practices. In response to Musk's conditions for dropping the lawsuit, OpenAI also revealed that Musk proposed a name change to "ClosedAI."

OpenAI and Elon Musk in legal tangle: AI mission derailed by clash over control and profit

A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report.

Regardless of a $12.74 billion cut to National Insurance announced by Chancellor Jeremy Hunt, the IFS predicts that households will still be worse off at the upcoming election than they were at the start of the current parliament.

The chancellor's strategy of tax cuts is part of a long-term reform plan aimed at shifting the tax burden away from workers, encouraging employment.

While the National Insurance cut is expected to benefit millions of workers, the IFS highlights that it only partially reverses the effects of other tax changes, such as freezing tax thresholds, which have resulted in a higher proportion of salaries being taken in tax.

According to the IFS, the tax changes will lead to varying patterns of gains and losses depending on income.

While an average earner may enjoy a tax cut of about $433.14 in the upcoming financial year, the gains diminish over time, with the average earner expected to be only $178.35 better off by 2027.

The think tank also notes that for every $1.27 given back to workers through the National Insurance cuts, $1.66 to $2.42 will have been taken away due to threshold changes between 2021 and 2024, indicating a net loss for taxpayers.

Labour leader Keir Starmer has criticised the government's strategy, accusing it of giving with one hand and taking even more with the other.

With an eye on the upcoming general election, the state of the economy and individuals' personal finances is under scrutiny.

The Conservatives hope slight upgrades to growth forecasts provided by the Office for Budget Responsibility will help change the narrative, but the IFS warns that overall living standards remain "dismal".

While the government's measures are expected to slightly increase borrowing in the next financial year, the Office for Budget Responsibility predicts borrowing to remain broadly in line with previous forecasts.

However, the country's debt as a proportion of GDP is set to rise over the next four years before marginally decreasing, with debt still expected to be 92.9 per cent of GDP in 2028-29, higher than the 89 per cent expected this year.

A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report.

A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report. Regardless of a $12.74 billion cut to National Insurance announced by Chancellor Jeremy Hunt, the IFS predicts that households will still be worse off at the upcoming election than they were at the start of the current parliament. The chancellor's strategy of tax cuts is part of a long-term reform plan aimed at shifting the tax burden away from workers, encouraging employment. While the National Insurance cut is expected to benefit millions of workers, the IFS highlights that it only partially reverses the effects of other tax changes, such as freezing tax thresholds, which have resulted in a higher proportion of salaries being taken in tax. According to the IFS, the tax changes will lead to varying patterns of gains and losses depending on income. While an average earner may enjoy a tax cut of about $433.14 in the upcoming financial year, the gains diminish over time, with the average earner expected to be only $178.35 better off by 2027. The think tank also notes that for every $1.27 given back to workers through the National Insurance cuts, $1.66 to $2.42 will have been taken away due to threshold changes between 2021 and 2024, indicating a net loss for taxpayers. Labour leader Keir Starmer has criticised the government's strategy, accusing it of giving with one hand and taking even more with the other. With an eye on the upcoming general election, the state of the economy and individuals' personal finances is under scrutiny. The Conservatives hope slight upgrades to growth forecasts provided by the Office for Budget Responsibility will help change the narrative, but the IFS warns that overall living standards remain "dismal". While the government's measures are expected to slightly increase borrowing in the next financial year, the Office for Budget Responsibility predicts borrowing to remain broadly in line with previous forecasts. However, the country's debt as a proportion of GDP is set to rise over the next four years before marginally decreasing, with debt still expected to be 92.9 per cent of GDP in 2028-29, higher than the 89 per cent expected this year.

UK Budget tax cuts won't offset rising prices, warns think tank