India's key stock indexes closed higher on Thursday, boosted by robust gains in state-owned enterprises and anticipation of more government expenditure in the impending Union Budget. The optimism in public-sector stocks outweighed falls in IT stocks and Tata Motors. The Nifty 50 rose 0.37% to 23,249.5, while the BSE Sensex advanced 0.3% to 76,759.81. Despite the current rebound, the Nifty is still 11.5% down from its record high on September 27. Analysts believe the latest rally is underpinned by "attractive valuations" in large-cap companies after a market correction, making them a saf
Portugal's economy expanded faster than predicted in 2024, with a 1.5% increase in the fourth quarter, bringing the annual growth rate to 1.9%, exceeding the government's 1.8% prediction, according to official figures issued on Thursday. The National Statistics Institute (INE) revealed that the country's GDP increased by 2.7% in the fourth quarter compared to the same time in 2023. This represented a substantial improvement above the prior quarter's revised 0.3% growth rate. INE attributed the acceleration to an increase in private consumption, aided by tax cuts, growing earnings, and h
India has approved a finance package worth 163 billion rupees ($1.88 billion) to boost its key mining sector. The information minister made the statement on Wednesday. This approach is consistent with India's aim to obtain important raw resources, particularly lithium, which is critical for energy transition technologies. According to reports, the federal Ministry of Mines had allocated this amount. The government also expects the public sector to invest an additional 180 billion rupees in vital mineral development projects. According to an official release, the mission's goal is to acc
The United Arab Emirates (UAE) has announced an ambitious high-speed train project to connect Abu Dhabi and Dubai. This ground-breaking effort reinforces the UAE's status as a leader in innovative transport systems. The cutting-edge rail network is expected to alter regional mobility, setting new standards for efficiency and speed. The train will go over 100 kilometres in 30 minutes, reaching speeds of up to 350 km/h. Passing through major vital regions and tourist hotspots, the project promises to provide travellers with an unforgettable travel experience. Beyond convenience, high-spee
Qatar plans to propose three new laws as part of a complete overhaul of its legal structure, with the goal of attracting more international investment to the Gulf state. Qatar's newly appointed minister of commerce and economy, Sheikh Faisal bin Thani, acknowledged the proposal in an interview. The new legislation contains a bankruptcy law, a public-private partnership (PPP) law, and a commercial registration law, all of which are intended to streamline company operations and create a more investor-friendly climate. Sheikh Faisal emphasised that Qatar is revising 27 legislation from 17 gov
According to government sources, India intends to increase its agriculture budget by more than 15%, to almost $20 billion, in the fiscal year 2025-26. This is the greatest rise in six years, and it aims to raise rural earnings while keeping inflation under control. The increased money will go towards producing high-yielding seed varieties, boosting storage infrastructure, and increasing the output of pulses, oilseeds, vegetables, and dairy products. The finance and agriculture ministries have yet to comment on the situation. India, the world's second-largest producer of rice, wheat, and
Kenya's National Bureau of Statistics (KNBS) will start providing core inflation data to improve the efficiency of monetary policy choices. Previously, KNBS concentrated on headline inflation, which includes volatile components such as food and petrol. This caused the Central Bank of Kenya (CBK) to compute non-food and non-fuel inflation separately in order to have a better understanding of underlying inflation patterns. Core inflation, which removes volatile elements like food and energy prices, is a more reliable indicator of long-term inflationary pressures. KNBS emphasised the need of
Prabowo Subianto, Indonesia's new President, has pledged 48.8 trillion rupiah ($2.99 billion) to develop the country's new capital city, Nusantara, by 2029. This ambitious project aims to relocate the government to Nusantara by 2028, according to the project's chief on Tuesday. Former President Joko Widodo began construction on the $32-billion city in Borneo Island's jungles in 2022. This legacy project was delayed due to the COVID-19 pandemic but has since regained momentum. Widodo envisioned Nusantara as a solution to Jakarta's overpopulation and sinking issues, which are 1,200 kilometre
The Philippines has taken a huge step forward in its energy transition by signing a $15 billion renewable energy agreement with Masdar in the UAE. The agreement, signed in Abu Dhabi, focusses on the development of solar, wind, and battery energy storage technologies, with the goal of generating up to 1 gigawatt of sustainable energy by 2030 and increasing to 10 GW by 2035. Currently, renewable energy accounts for around 22% of the Philippine energy mix. The government plans to boost this to 35% by 2030 and 50% by 2040. Philippine Energy Secretary Raphael Lotilla emphasised that the agreeme
Singapore President Tharman Shanmugaratnam highlighted India's growing role as a global economic powerhouse during his visit to Odisha. He emphasised Singapore's commitment to supporting India's semiconductor ecosystem, aviation connectivity, and skilling programs. "India aims to be a geopolitical and economic powerhouse in a multipolar world. "We want to collaborate with India," Shanmugaratnam said, citing the country's demographics, development trajectory, and export possibilities. The President highlighted India and Singapore's shared priorities under the India-Singapore Ministerial