Argentina’s economy saw a near 4% boost in the third quarter of 2024, marking the end of its recession. This growth outperformed analysts’ expectations, signaling a shift in economic momentum. Despite the quarterly growth, overall activity remains below 2023 levels. Argentina’s GDP in the third quarter was 2.1% lower than the same period last year. However, this result is an improvement compared to earlier quarters, which recorded declines of 5.2% in Q1 and 3.4% in Q2. The INDEC national statistics bureau published fresh data on Monday, confirming the positive shift. Between July
India's private sector output grew at its fastest pace in four months, driven by stronger demand in services and manufacturing. Preliminary survey data showed record job growth, helping the economy close 2024 on a high note. The HSBC December flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 60.7, matching August's figure. This marked an increase from November's 58.6. The PMI has stayed above 60 for most of the year, a level of strength not seen since 2008. The 50-point mark separates growth from contraction. Economist In
Indonesia reported a $4.42 billion trade surplus in November, double analysts' forecasts of $2.21 billion. The rise came as exports surged and imports fell below market expectations, according to official data released on Monday. The November surplus marked the largest since March. It followed a slightly revised October surplus of $2.48 billion. Analysts believe this trade data will be a key factor in the central bank's upcoming monetary policy review on Wednesday, where no change to key rates is expected. Exports grew 9.14% year-on-year to $24.01 billion, far ex
Britain announced a major overhaul of its planning system to boost growth and build 1.5 million homes in five years. Prime Minister Keir Starmer called the current planning system a "chokehold" on growth and pledged bold reforms. “The housing crisis means the dream of homeownership feels distant for many,” Starmer said. “Our plan puts builders, not blockers, first. We’ll fix the broken system, provide homes for working families, and drive growth.” The new plan requires local authorities to set housebuilding timetables within 12 weeks or face government intervention. It also in
Prime Minister Narendra Modi will visit Prayagraj on December 13 for a three-hour tour, The Indian Express reported. During his visit, he will inaugurate and lay the foundation for projects worth ₹7,000 crore. He will also perform a puja at the Sangam. PM Modi is set to arrive around 11 am and will travel from Arail Ghat to Quila Ghat on a hybrid electric catamaran named after Nishadraj, which he previously launched in Varanasi. Most of the projects are linked to road and corridor development, with a key highlight being the Shringverpur Dham corridor. Known as the “Kingdom of Nishad
The Indian government will require clean energy firms to use locally made solar cells in government projects from June 2026. The Renewable Energy Ministry announced that only solar cells from an approved list of companies will be allowed. This move aims to reduce reliance on Chinese imports. India already mandates the use of locally made photovoltaic (PV) modules for government projects. The new rule now extends to solar cells as well. The government aims to boost non-fossil fuel capacity to 500 gigawatts (GW) by 2030, up from the current 156 GW. India’s current PV module-making capac
The 7th CICA Business Council Plenary Session and the 9th CICA Business Forum took place in Astana this November, bringing together representatives from India and other Asian nations. The event focused on strengthening regional economic ties and enhancing cooperation between businesses and governments. With participation from nearly 100 companies across Asia, the forum resulted in key agreements aimed at fostering growth and development. Major areas of focus included training programs, joint investment initiatives, and new formats for business-government interaction. These initiatives are
Abu Dhabi, the capital of the United Arab Emirates (UAE), announced new measures on Wednesday to simplify business processes as part of its economic diversification strategy away from oil. The emirate, which holds over 90% of the UAE's oil reserves, introduced the Abu Dhabi Registration Authority (ADRA). This centralized body will serve as the sole platform for business registration, according to an official statement. Like other oil-exporting regions, Abu Dhabi is accelerating its shift toward sectors such as tourism, logistics, manufacturing, and industry to achieve sustainable econom
The government has removed the windfall tax on domestically produced crude oil and exports of petrol, diesel, and aviation turbine fuel, addressing industry demands after falling international oil prices significantly reduced export values. The Department of Revenue announced the decision on Monday, rescinding the June 2022 notifications that imposed the tax, with immediate effect. “The industry had been urging the government to withdraw the tax, arguing it was no longer justified given the prolonged period of subdued international oil prices,” an official said anonymously. The wind
Saudi Arabia, the world’s top oil exporter, is likely to cut crude prices for Asian buyers in January to their lowest levels in years, according to traders. The January official selling price (OSP) for Arab Light could drop by 70 to 90 cents per barrel from December, marking at least a four-year low, a Reuters survey of six Asian refinery sources revealed. "The weaker Middle East benchmark prices in November are driving the cuts," said traders. Despite TotalEnergies purchasing 15.5 million barrels of crude in the S&P Global Platts window, the gap between front and third-month Dubai p