On Monday, Prime Minister Narendra Modi inaugurated numerous developmental projects in Adilabad, Telangana. These projects were collectively valued at more than ₹56,000 crore. These initiatives span the power, rail, and road sectors. PM Modi emphasised Adilabad's emergence as a hub for national development, with over 30 projects contributing to this transformation. He highlighted the collaborative efforts between the Centre and Telangana, both celebrating nearly a decade of progress. Notable projects include the 800 MW NTPC (Unit 2), set to augment Telangana's electricity generation capa
The US and India aim to enhance information sharing on opioids like fentanyl to address its misuse in the US. Kristie Canegallo, acting deputy secretary at the US Department of Homeland Security, discussed this during the Senior Officials’ Homeland Security Dialogue in New Delhi. The dialogue is part of the 2010 India-US counter-terrorism initiative. Canegallo emphasised augmenting information sharing, especially regarding fentanyl, amid existing counter-narcotics efforts. Synthetic opioids, mainly fentanyl, caused abouttwo-thirds of the 2021 drug overdose deaths in the US. India lega
India’s manufacturing sector surged in February, marking its most robust growth in five months amidst subdued cost pressures. The HSBC final India Manufacturing Purchasing Manager’s Index (PMI), compiled by S&P Global, exceeded expectations by rising to 56.8 from January’s 56.5, surpassing the preliminary estimate of 56.7. For 32 consecutive months, manufacturing PMI in India has been above 50 points, indicating steady growth. The nation's economy, which is the fastest-growing major economy in the world and the third-largest in Asia, grew by 8.4% during the October–December qua
On Friday, Japanese and Australian stocks surged to new highs, propelled by reassuring US inflation figures that eased fears of an imminent rate cut. European markets were poised for gains, with futures indicating upward trends. The Nikkei index soared 1.9%, hitting a fresh peak, while Australia’s resource-heavy shares climbed 0.6% to a record high. Despite a 0.2% increase in MSCI’s Asia-Pacific shares outside Japan, weekly losses persisted at 0.4%. Blue-chip stocks and the Shanghai Composite Index rose on mainland Chinese markets. Hong Kong's Hang Seng index also rebounded, rising by
Venezuela's government is ramping up efforts to curb inflation before this year's presidential election. Despite facing economic crises marked by shortages and hyperinflation, the government aims to stabilise the bolivar-dollar exchange rate and manage spending without fueling consumer prices. In 2023, consumer prices soared by nearly 190%, with basic goods becoming increasingly expensive as the local currency depreciated sharply against the dollar. However, monthly price increases have since been reduced to 107% year-on-year through January, with the government employing orthodox anti-inf
Singapore's Defence Minister, Ng Eng Hen, emphasises the increasing global risks, prompting the nation to uphold defence spending at 3% of GDP to fortify the Singapore Armed Forces (SAF) against potential aggression. Despite potential conflicts, Singapore commits to maintaining military spending over the next decade, aiming to boost the SAF's capabilities. Ng Eng Hen highlighted ongoing global tensions, citing the Russia-Ukraine conflict and the Israel-Hamas conflict spreading. There has been an escalation of tensions between the US and China, particularly over Taiwan, showing a shift from
Egypt has signed seven Memoranda of Understanding (MoUs) with global developers for green hydrogen and renewable energy ventures in the Suez Canal Economic Zone (SCZONE). It promises investments surpassing $40 billion over the next decade. The Egyptian government signed agreements with international developers, anticipating investments of about $12 billion for a preliminary pilot programme and an additional $29 billion for the first phase. Ayman Suleiman, CEO of the Sovereign Fund of Egypt, emphasised the growing interest from investors in green hydrogen projects, highlighting the programm
On Wednesday, Namibia's finance minister announced its economic growth forecasts for 2023 and 2024. He further announced a reduced budget deficit, primarily driven by robust performance in the oil and mining sectors. Forecasts predict a 5.6% growth rate for the previous year and 4.0% for the current year, up from earlier estimates of 3.5% and 2.9%, respectively. Growth is expected to moderate to 3.9% in 2025, as per Ipumbu Shiimi’s budget speech. The budget deficit for 2023–24 is estimated at 3.2% of GDP, down from 4.2%, and is forecast to remain at 3.2% of GDP in 2024–25. Shiimi
Indonesia and South Africa, leading coal exporters, target expanding thermal coal sales to India to regain lost market share. The competition intensified with the United States, Russia, and Australia seizing ground due to geopolitical shifts in trade routes. South Africa, leveraging its low sulphur, high calorific value coal, eyes India's growing steel industry. Kgabi Masia from Exxaro Resources anticipates supplying 60 million metric tonnes by March 2025. However, South Africa's share in India's thermal coal imports dropped to 16% in 2023 from 22% pre-pandemic, while Indonesia's declined
Brazil's Finance Minister Fernando Haddad warned about global economic challenges as G20 finance leaders convened in Sao Paulo, grappling with divisions over Ukraine and Gaza conflicts. Haddad emphasized the need for G20 action on climate change and poverty amidst a "challenging" global economic environment. Regarding the economic part of the communiqué, Tatiana Rosito, the coordinator for Brazil's G20 financial track, reported successful discussions. Meanwhile, for Germany to agree to the statement, German Finance Minister Christian Lindner insisted on discussing geopolitical matters suc