Employees at an air conditioner manufacturing unit near New Delhi. Agence France-Presse
Indian economy is likely to swell to $5 trillion mark ahead of its target of 2024 despite huge challenges and global trends. This was stated by T.N. Manoharan, non-executive chairman of India’s Canara Bank recently in Dubai,
Adding to the persisting concerns of a weakening economy, an IHS Markit report said that business sentiment in the country in June fell to the lowest level since 2016 as companies are worried over a subdued economy, government policies, regulation and water shortages.
Foreign sovereign wealth funds are piling into India, buying stakes in everything from airports to renewable energy, attracted by political stability, a growing middle class and reforms making it more enticing for foreigners to invest.
The UAE GDP is expected to grow by 2.4 per cent in 2021 and 3.8 per cent in 2022 while the non-oil GDP to expand by around 4 per cent in both years, according to the Financial Stability Report (FSR) released by the Central Bank of the UAE (CBUAE) on Thursday.
The real estate sector in Dubai showed a continuous flow of real estate investments in May 2021, recording 5,359 investments worth over Dhs11 billion. In addition, 11,387 new investors entered the market,
European and US stocks pulled in different directions on Thursday as traders digested the Federal Reserve bringing forward its forecasts for hiking interest rates to prevent the US economy from overheating.