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FACTBOX-What’s in the EU Green Deal Industrial Plan?
European Commission President Ursula von der Leyen set out its Green Deal Industrial Plan on Wednesday, designed to ensure the European Union does not lose ground in the green tech race and can counter massive subsidies by the United States and China….
British Steel draws up plan for 800 job losses amid government funding talks
Britain’s second-biggest steel producer has been drawing up secret plans to axe hundreds of jobs even as it continues talks with ministers about £300m of taxpayer funding that would partly depend on decade-long employment guarantees.
Sky News has lear…
Great Budget for CapEx and Railways, Not Bad for Direct Taxes
Finance Minister Nirmala Sitharaman began her speech by calling Budget 2023 the first one in Amrit Kaal. The reference and indeed, the implicit branding, is towards the next 25 years, during which India is expected to change for the better. India will…
Parliament poised to vote on asylum for Uyghurs fleeing China
Ethnic Uyghur demonstrators scuffle with riot police as they try to continue a sit-in protest against China, in front of the Chinese consulate in Istanbul, Turkey on Nov. 30, 2022.DILARA SENKAYA/Reuters
Parliament is poised to vote on making room for …
Oil Giants, After Surge in Profits, Are Wary About Spending
While critics often accuse the oil industry of profiteering when prices are high, executives say their companies are prone to cycles. Their share prices have rocketed over the last year after a decade of underperforming almost every other industry. On…
Manufacturing index sustained growth in January
The manufacturing industry’s purchasing managers index rose to 53.5 percent in January from 53.1 percent in December 2022, according to the latest report from S&P Global Market Intelligence.
A PMI is a gauge of a country’s manufacturing activity….
US futures sluggish ahead of Fed rate decision
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U.S. futures dipped Wednesday ahead of the Fed’s 19-member policy committee meeting, where benchmark interest rates are expected to be lifted to the highest level in about 15 years.
Futures…
Markets settle marginally higher ahead of Budget, US Fed’s rate decision
Equity benchmarks ended with marginal gains on Tuesday as investors adopted a cautious approach ahead of the Union Budget presentation and the US Federal Reserve’s interest rate decision.
Fag-end buying helped the 30-share BSE benchmark Sensex settle …
The IMF’s improved economic outlook won’t deter central banks
The world economy is faring slightly better than expected.
Of course, global growth is projected to fall to 2.9% in 2023, down from a 3.4% expansion in 2022, according to fresh projections by the International Monetary Fund (IMF). But that’s still 0.2…
FOREX-Dollar climbs before Fed, but set for fourth monthly drop
The dollar ticked higher on Tuesday ahead of a raft of central bank decisions but remained on track for its fourth consecutive monthly loss. The U.S. Federal Reserve will set interest rates on Wednesday, followed by the European Central Bank (ECB) and…