The International Monetary Fund (IMF) is revising its global growth forecast slightly upwards. This upward revision is attributed to strong consumption and investment in the United States and many emerging economies. However, the IMF warns that this positive trend could be short-lived.

IMF nudges up global growth forecast, warns of 'tepid twenties'

Reserve Bank of India - the nation's central bank - has turned 90. At an event to mark the anniversary, Prime Minister Narendra Modi said the Reserve Bank of India has a key role to play in prioritising the country's economic growth and making sure that the rupee is made more accessible and acceptable globally.

PM Modi urges that RBI prioritize growth & globalize the rupee

China's Huawei Technologies saw its fastest growth in four years in 2023, with a rebound in its consumer segment and income from new businesses like smart car components accelerating its recovery from U.S. sanctions.

Revenue rose 9.63% from a year earlier to 704.2 billion yuan ($97.48 billion), with the consumer business contributing most to that figure, growing 17.3% to 251.49 billion yuan.

While Huawei did not break down the consumer figure, the segment includes its handset business, which saw a renaissance last year as the company returned to the mainstream 5G smartphones market with the Mate 60, apparently overcoming U.S. restrictions.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/business-economy/wion-business-wrap-the-top-business-stories-of-the-day-summarised-694780" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/wion-business-wrap-the-top-business-stories-of-the-day-summarised-694780&amp;sa=U&amp;ved=2ahUKEwjAqu7ap5mFAxVKamwGHTKcBgoQFnoECAMQAg&amp;usg=AOvVaw1PHWS-xDt_uSL86GRiQlPp&amp;arm=e" dir="ltr" href="https://www.wionews.com/business-economy/wion-business-wrap-the-top-business-stories-of-the-day-summarised-694780" target="_blank">WION&nbsp;Business&nbsp;Wrap | The top&nbsp;business&nbsp;stories of the day</a>

From 2019, the U.S. has restricted Huawei's access to U.S. technology, accusing the company of being a security risk, which Huawei denies.

Last year marked the third consecutive year of growth for the company after revenue plummeted by almost a third in 2021 when the company started to exhaust chip reserves, though revenue remains below its 2020 peak of 891.3 billion yuan.

Huawei was relatively muted about its achievement, doing away with the press conference and launch event it has held every year at least since the U.S. restrictions began.

In a press release, rotating chairman Ken Hu said the results were in line with forecasts.

"We've been through a lot over the past few years. But through one challenge after another, we've managed to grow."

At a launch event last year, Meng Wangzhou, Huawei's CFO and the daughter of the company's founder, announced that Huawei was no longer in crisis mode.

Net profit in 2023 rose by 144.5% to 87 billion yuan, with the net profit margin more than doubling on a year earlier to 12.35%.

Some of that came from ongoing payment from the sale of the Honor smartphone brand, which Huawei sold in November 2020, a company spokesperson said.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/business-economy/indias-business-travel-industry-poised-for-growth-expected-to-reach-382-bn-in-2024-695395" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/indias-business-travel-industry-poised-for-growth-expected-to-reach-382-bn-in-2024-695395&amp;sa=U&amp;ved=2ahUKEwjAqu7ap5mFAxVKamwGHTKcBgoQFnoECAIQAg&amp;usg=AOvVaw0T3_qDSGP2qxTCancvxZbq&amp;arm=e" dir="ltr" href="https://www.wionews.com/business-economy/indias-business-travel-industry-poised-for-growth-expected-to-reach-382-bn-in-2024-695395" target="_blank">India's&nbsp;business&nbsp;travel industry poised for growth</a>

While the company's core ICT infrastructure business remained stable, its cloud business grew by more than a fifth, generating revenue of 55.3 billion yuan.

Huawei's four-year-old smart car software and components business also saw major growth albeit from a lower comparison base, up 128.1% year on year to 4.7 billion yuan.

Last year Huawei announced it would spin off the smart car unit into a new company.

Earlier this month, Richard Yu, the managing director and chairman of Huawei's smart car solutions, announced the unit would likely turn a profit from April after losing billions of yuan in the past year, local media reported.

China's Huawei Technologies saw its fastest growth in four years in 2023, with a rebound in its consumer segment and income from new businesses like smart car components accelerating its recovery from U.

China's Huawei Technologies saw its fastest growth in four years in 2023, with a rebound in its consumer segment and income from new businesses like smart car components accelerating its recovery from U.S. sanctions. Revenue rose 9.63% from a year earlier to 704.2 billion yuan ($97.48 billion), with the consumer business contributing most to that figure, growing 17.3% to 251.49 billion yuan. While Huawei did not break down the consumer figure, the segment includes its handset business, which saw a renaissance last year as the company returned to the mainstream 5G smartphones market with the Mate 60, apparently overcoming U.S. restrictions. Also read: WION Business Wrap | The top business stories of the day From 2019, the U.S. has restricted Huawei's access to U.S. technology, accusing the company of being a security risk, which Huawei denies. Last year marked the third consecutive year of growth for the company after revenue plummeted by almost a third in 2021 when the company started to exhaust chip reserves, though revenue remains below its 2020 peak of 891.3 billion yuan. Huawei was relatively muted about its achievement, doing away with the press conference and launch event it has held every year at least since the U.S. restrictions began. In a press release, rotating chairman Ken Hu said the results were in line with forecasts. "We've been through a lot over the past few years. But through one challenge after another, we've managed to grow." At a launch event last year, Meng Wangzhou, Huawei's CFO and the daughter of the company's founder, announced that Huawei was no longer in crisis mode. Net profit in 2023 rose by 144.5% to 87 billion yuan, with the net profit margin more than doubling on a year earlier to 12.35%. Some of that came from ongoing payment from the sale of the Honor smartphone brand, which Huawei sold in November 2020, a company spokesperson said. Also read: India's business travel industry poised for growth While the company's core ICT infrastructure business remained stable, its cloud business grew by more than a fifth, generating revenue of 55.3 billion yuan. Huawei's four-year-old smart car software and components business also saw major growth albeit from a lower comparison base, up 128.1% year on year to 4.7 billion yuan. Last year Huawei announced it would spin off the smart car unit into a new company. Earlier this month, Richard Yu, the managing director and chairman of Huawei's smart car solutions, announced the unit would likely turn a profit from April after losing billions of yuan in the past year, local media reported.

China's Huawei continues rebound with strongest earnings growth since 2019

The Reserve Bank of India governor, Shaktikanta Das, raised India's economic growth forecast for 2024, citing strong performances in manufacturing, construction, and rural demand. He expects the economy to grow close to 8% this year, exceeding previous estimates.

RBI Governor buoyant on India's growth

At a time when China's economic recovery is losing steam, the country's premier Li Qiang has announced a growth target of 5% for 2024. However, his announcement lacked any concrete details, raising questions about the effectiveness of China's stimulus measures so far.

China sets its 2024 economic growth target at 5 percent

China has kicked off its 14th annual parliamentary meetings in which investors watch closely for signals of an economic stimulus. The meetings known as the two sessions release more details on policy plans such as the GDP Target for the year.

China: What could be in the government work report?

Reserve Bank Of India Governor Shaktikanta Das has expressed confidence in India's economic trajectory. Highlighting a recovery in the banking sector and international trust in India's stability, das emphasised the opportune moment for businesses to invest in the indian ecosystem.

India's economic revival in focus as rbi governor signals growth

The economic crisis in China deepens, with retail investors abandoning mutual funds in favour of hoarding cash. Investors are disillusioned with the performance of China's mutual funds this year. Previously, mutual funds were the favoured investment vehicle for investors.

China's mutual funds flows drop

Indigo, India's largest airline, remains undeterred by challenges as it continues its expansion spree amidst ongoing engine issues. Despite the grounding of over 30 planes due to Pratt & Whitney engine problems, the airline stands firm on its growth forecast for the year.

Indigo stays on course for growth despite engine issues

China's deflationary pressures persist, highlighting the precarious nature of the country's economic recovery as the year 2023 draws to a close. Economists polled by Bloomberg predict that Chinese consumer prices fell back into deflation in October.

Navigating China's fragile consumer price landscape

Meta platforms, the parent company of Facebook And Instagram, has outperformed expectations in its third-quarter earnings. Bolstered by cost-cutting measures and a rebound in digital advertising as the holiday season approaches, the company reported its best operating margins in two years.

Meta's record operating margins & growth in digital advertising

On the Indian economic front, India's gross domestic product has in fact grown at a very impressive 7.8 per cent for the April to June quarter.

India's growth story gets a boost: GDP grew at 7.4%

A recently released LinkedIn report shows the number of LinkedIn profiles indicating talents in artificial intelligence (AI) has increased 14 times in the previous seven years in India, placing the country among the top five in the world with the fastest-growing talent for the technology.

Over the last year, 43 per cent of the Indian workforce has seen an increase in AI adoption in their organizations. This spike has driven 60 per cent of all workers and 71 percent of so-called Generation Z professionals to recognise that learning AI abilities might help them advance in their careers. Two-thirds of Indians stated they plan to master at least one digital talent by 2023, with AI and machine learning among the top abilities on their list.

The report's analysis of 25 countries highlights that the number of LinkedIn members who added AI skills to their profiles nearly doubled after the launch of ChatGPT, the popular AI chatbot that responds to a variety of written queries, last year, rising from 7.7 percent in May–November 2022 to 13 percent in November 2022–June 2023.

According to the survey, the focus on soft skills like creativity and communication is especially significant in India in the age of AI. Around 91 percent of senior executives see the rising necessity of AI skills, above the global average of 72 percent. The bulk of the Indian workforce agrees, with 7 in 10 (69 percent) professionals believing that soft skills like creativity and problem solving enable them to offer a fresh perspective on work.

The first 'Future of Work: State of Work @ AI' report from the professional networking platform states that, India, Singapore, Finland, Ireland, and Canada have the highest percentage of AI skill adoption. The usage of the skills goes beyond technology into a variety of areas, such as retail, education, and financial services.

The top vocations with talents that can be boosted by generative AI are software engineer (96 per cent), customer service representative (76 per cent), and salesman (59 per cent). Oil field operators (one per cent), environmental health and safety professionals (three per cent), and nurses (six percent), on the other hand, are the vocations with the fewest augmentable abilities.

In 2023, half of India's top executives plan to upskill or hire for AI skills. Concurrently, 57 percent of CEOs intend to increase AI adoption in their organizations next year.

"As artificial intelligence shapes the future of work, India recognizes the value of human potential and the critical role that soft skills will play in developing a world-class workforce of the future. With India's top CEOs acknowledging the relevance of interpersonal skills in the age of AI, we're approaching an era that values more rewarding, human-centric work," the report quotes Ashutosh Gupta, LinkedIn India's national manager as saying.

Moreover, LinkedIn has launched a three-year cooperation with The Nudge Institute, a non-profit focused on sustainable lives, to develop employable skills among young Indians from economically challenged neighborhoods.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

A recently released LinkedIn report shows the number of LinkedIn profiles indicating talents in artificial intelligence (AI) has increased 14 times in the previous seven years in India, placing the country among the top five in the world with the fastest-growing talent for the technology.

A recently released LinkedIn report shows the number of LinkedIn profiles indicating talents in artificial intelligence (AI) has increased 14 times in the previous seven years in India, placing the country among the top five in the world with the fastest-growing talent for the technology. Over the last year, 43 per cent of the Indian workforce has seen an increase in AI adoption in their organizations. This spike has driven 60 per cent of all workers and 71 percent of so-called Generation Z professionals to recognise that learning AI abilities might help them advance in their careers. Two-thirds of Indians stated they plan to master at least one digital talent by 2023, with AI and machine learning among the top abilities on their list. The report's analysis of 25 countries highlights that the number of LinkedIn members who added AI skills to their profiles nearly doubled after the launch of ChatGPT, the popular AI chatbot that responds to a variety of written queries, last year, rising from 7.7 percent in May–November 2022 to 13 percent in November 2022–June 2023. According to the survey, the focus on soft skills like creativity and communication is especially significant in India in the age of AI. Around 91 percent of senior executives see the rising necessity of AI skills, above the global average of 72 percent. The bulk of the Indian workforce agrees, with 7 in 10 (69 percent) professionals believing that soft skills like creativity and problem solving enable them to offer a fresh perspective on work. The first 'Future of Work: State of Work @ AI' report from the professional networking platform states that, India, Singapore, Finland, Ireland, and Canada have the highest percentage of AI skill adoption. The usage of the skills goes beyond technology into a variety of areas, such as retail, education, and financial services. The top vocations with talents that can be boosted by generative AI are software engineer (96 per cent), customer service representative (76 per cent), and salesman (59 per cent). Oil field operators (one per cent), environmental health and safety professionals (three per cent), and nurses (six percent), on the other hand, are the vocations with the fewest augmentable abilities. In 2023, half of India's top executives plan to upskill or hire for AI skills. Concurrently, 57 percent of CEOs intend to increase AI adoption in their organizations next year. "As artificial intelligence shapes the future of work, India recognizes the value of human potential and the critical role that soft skills will play in developing a world-class workforce of the future. With India's top CEOs acknowledging the relevance of interpersonal skills in the age of AI, we're approaching an era that values more rewarding, human-centric work," the report quotes Ashutosh Gupta, LinkedIn India's national manager as saying. Moreover, LinkedIn has launched a three-year cooperation with The Nudge Institute, a non-profit focused on sustainable lives, to develop employable skills among young Indians from economically challenged neighborhoods. WATCH WION LIVE HERE

India ranks among top 5 nations for rapidly growing AI talent: LinkedIn report

Has China's growth story hit a roadblock? The GDP growth rate has slowed down. The national debt is nearing the IMF red line & now property giant Evergrande has filed for bankruptcy protection. Molly Gambhir reports.

Gravitas: Has China's growth story hit a roadblock? | Evergrande files for bankruptcy protection

On the strength of robust online advertising, Tencent Holdings' revenue increased by 11% in the second quarter, but it fell short of analysts' expectations due to continuing worries about China's economic recovery. The IT behemoth in China announced total revenue for the April to June quarter of 149.2 billion yuan ($20.6 billion).

Tencent's Q2 revenue growth misses expectations

China once had There are worries that the mighty economy is currently going through a tough period. Famous economists have raised concerns about China's trajectory in the future, comparing it to Japan's economic fall in the 1990s and asking whether another country would emerge as a contender to spur global growth.

Explained: Why economists are concerned about China

Meta's second quarter earnings report has been released and it's nothing short of extraordinary meta has exceeded endless expectations across the board exactly now signaling a rebound in the digital advertising Market earnings per share came in at an impressive 2.98 surpassing the expected 2.91 meta's Revenue sold to a staggering 32 dollar 32 billion dollar

Meta reported double digit growth since the end of 2021

The second quarter of this year saw an acceleration in US economic growth, exceeding analysts' expectations and supporting the Biden administration's claim that the boom is picking up steam. The government reported on Thursday that the GDP increased by 2.4 percent on an annualized basis from April through June. This is the second piece of good news for the White House this week after forecasts from the Congressional Budget Office and experts at the Federal Reserve indicated that the United States will avoid a recession this year.

US: World's largest economy defies growth expectations

According to a groundbreaking research paper by the reserve bank of India, the country aims to achieve developed nation status by 2047. To achieve this, India must maintain an astounding annual growth rate of 7.6%. The current per capita income stands at $2,500, but to meet the high-income country criteria set by the world bank, India must soar to more than $21,664 by 2047.

India needs 7.6% growth to achieve developed status

The big China GDP number is out. China grew by 6.3% in the April to June quarter of 2023. That's compared to the same period in 2022 when the economy barely grew. The latest number is still below analysts’ expectations and may force Chinese policymakers to unveil more measures to support the economy.

China grew 0.8% in the April-June quarter of 2023

The latest United Nations report on trade and development shed light on the UK's exports, revealing that, aside from Japan, the UK has had the worst export track record among the G7 countries. According to the UNCTAD, UK goods and service exports were worth 813 billion pounds in 2012. and it only increased by 6% to $862 billion in 2021.

Export growth remains sluggish in UK

Now let's take a closer look at Nairobi, known as the 'green city in the sun. Situated at an altitude of 1,795 meters above sea level, this bustling metropolis boasts of a pleasant climate and numerous green spaces. Take a look.

Nairobi's biodiversity faces threats amid urban growth

India’s North Eastern region has historically faced challenges related to infrastructure development, connectivity, insurgency, and economic development but transformation of India’s gateway to its neighbours in the East has been the main focus of the Indian government in recent years.

Growth of India's North-East region

Experts have been astounded by China's growth over the past few decades, but there is a new force driving global growth. India's young population, government policy, and consumer spending could offer several benefits.

Explained: Is India the best investment destination?

After growing for three months, China's manufacturing activity fell unexpectedly in April. That is bad news for a country that is trying to bounce back from just 3% growth last year.

Global slowdown hits China's factories

Here we bring you a quick round-up of all latest news, top headlines and international breakings from all across the globe, stay tuned with Gravitas for more!

Gravitas Global Headlines: IMF chief says growth for the next 5 years will stay around

The World Bank (WB) and the Asian Development Bank (ADB) on Tuesday lowered the growth projection for the current financial year, citing weak global conditions and higher interest rates.

World Bank, ADB project moderation in growth for current fiscal

Russian news agency, Sputnik claims that china and Russia had become world leaders in trade surplus in 2022. This statistic has raised doubts about the impact of US-led sanctions against Russia for invading Ukraine. The study done by Sputnik was based on data from the national statistical agencies of the world's 60 largest economies.

Report says Russia moves up to 2nd place among major global economies

China announced a 5% growth goal for 2023 on Sunday as the nation's rubber-stamp Parliament convened for its annual session, ushering in a new era for President Xi Jinping as he began an extraordinary third five-year term.

China sets economic growth target for 2023 at 'around 5%'

Airbnb Inc. gave an outlook for revenue in the first quarter that beat analysts’ estimates, signaling that travel demand remains robust even after a record year for growth in 2022. The shares jumped as much as 12% in extended trading.

Airbnb clocks first profitable year on strong travel demand

Adani Transmission registered a 22 percent growth in revenue for the quarter at Rs 3,552 crore compared to year-ago period, led by new transmission lines becoming operational and a positive trend in energy demand.

India: Positive start for Adani shares

growth

Growth, News on Growth, stories on Growth, articles on Growth, Growth stories at Wion, Growth news, Growth latest news