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Economy

UN Report – ‘India lifted 415 million people out of Poverty, In just 15 years’

United Nations (UN) on Tuesday announced that India has achieved a significant reduction in poverty, with a staggering 415 million individuals successfully emerging from poverty within a just 15-year span.

IW Explainer: Can BRICS Currency truly challenge the global dominance of US Dollar?

A recent tweet by the Russian Embassy in Kenya suggests that BRICS countries are considering introducing a gold-backed trading currency to challenge the global dominance of the US Dollar.

‘Big Victory For Farmers’: Indian court rejects PepsiCo’s appeal on Potato Patent

The Delhi High Court in India has dismissed PepsiCo Inc's appeal against the revocation of its patent for the FC5 potato variety, grown exclusively for famous Lay's potato chips.

“Be Careful”, Joe Biden warned China’s Xi Jinping after Xi-Putin meeting in March: CNN Report

A few weeks after comparing Xi Jinping to “dictators”, US President Joe Biden has disclosed that he warned Xi Jinping against deepening ties with Russia.

Pakistan secures $3 billion IMF Bailout: Will It help tackle the looming economic crisis?

Pakistan has reached a crucial $3 billion bailout agreement with the IMF after an eight-month delay. While the funding provides short-term relief, concerns remain about whether it will effectively address Pakistan's underlying economic challenges.

China’s Economic Outlook Weakened: S&P Global cuts 2023 growth forecast to 5.2% from 5.5%

S&P Global, a leading credit ratings agency, cuts its forecast economic growth forecast for China this year, highlighting the uneven nature of the country's post-reopening recovery.

Turkey’s Central Bank Raises Interest Rates to 15%, Indicating Economic Turnaround

Turkey's central bank implemented a significant interest rate hike, marking a shift towards more conventional economic policies. The bank raised its key rate by 6.5 percentage points, boosting it to 15% — a jump from the current 8.5%.

Slowing Chinese economy raises concerns for EU firms, outweighing geopolitical concerns – Survey

BEIJING, June 21:   According to the European Chamber of Commerce in China, a slowdown in both the Chinese and global economies has emerged as the primary concern for European firms operating in China, surpassing concerns over political tensions with the United States and the concept of decoupling.

India approves $2.7 billion Micron Chip Testing Plant amidst US-India chip push

India's cabinet has granted approval for U.S. chipmaker Micron Technology's $2.7 billion plan to establish a new semiconductor testing and packaging unit, according to a senior government source. The decision comes as Prime Minister Narendra Modi is on official state visit to the United States,.

Indian PM Modi proposes full membership for African Union in G20, to enhance Africa’s global voice

Indian Prime Minister Narendra Modi has written to the leaders of the G20 nations, urging them to grant full membership to the African Union (AU) in the G20. This proposal, aimed at enhancing Africa's representation on the global stage, signifies PM Modi's commitment to fostering a more inclusive and equitable global architecture.
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