The Federal Reserve on Wednesday released the minutes of its September monetary policy meeting, shedding some additional light on the central bank’s assessment that a moderation in the pace of asset purchases may “soon be warranted.” The minutes revealed participants generally agreed that a gradual tapering of asset purchases that […]

Employment in the U.S. increased by much less than expected in the month of September, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 194,000 jobs in September after climbing by an upwardly revised 366,000 jobs in […]

India, and 135 other countries have agreed to an overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15% rate. India may have to withdraw digital services tax or the equalisation levy and give a commitment not to introduce such measures […]

Eurozone inflation accelerated to the highest level in 13 years on surging energy prices in September, flash data from Eurostat showed on Friday. Inflation advanced to 3.4 percent in September from 3.0 percent in August. The rate was also above economists’ forecast of 3.3 percent. This was the highest rate […]

“With the surge in imports, the merchandise trade deficit has ballooned to an all-time high in September 2021.” India’s merchandise exports grew 21.3% year-on-year to $33.44 billion in September, and were 28.5% higher than pre-COVID levels of September 2019. Merchandise imports however grew faster to $56.38 billion, 84.75% higher than […]

Centre notifies new rules on process to be followed by affected taxpayers. Firms such as Cairn and Vodafone disputing retrospective tax demands in India will not only have to withdraw all legal proceedings and waive all rights to claim costs or attach Indian assets but also indemnify the government on […]

‘Double-digit rise in FY22 will moderate to 6.5-7% next year’ Chief Economic Adviser (CEA) K.V. Subramanian on Wednesday said India will clock over 7% annual growth during this decade on the back of strong economic fundamentals. During the current fiscal, he said, growth would be in double-digits and it could […]

A potential third wave, and whether the existing vaccines are able to protect against any new variants that might emerge, remain key risks, ICRA chief economist Aditi Nayar said Rating agency ICRA has bumped up its GDP growth forecast for 2021-22 to 9% from 8.5%, citing better prospects for the […]

The U.S. Census Bureau has just released its “Income, Poverty and Health Insurance Coverage in the United States: 2020” report. Last year, the poverty rate for America was 11.4%, which was up 1% from 2019. Much of the increase was blamed on the COVID-19 pandemic. It was the first year […]