world bank
Apple contribution to 'Make in India' smartphone reaches 25% in value terms
The contribution of exports in 'Make in India' smartphone shipments reached the highest ever in 2022 both in volume (20 per cent) and value terms (30 per cent), according to Counterpoint Research. Overall, 'Make in India' smartphone shipments declined 3 per cent YoY in 2022 (January-December) to reach 188 million units.
India congratulates Ajay Banga on being nominated as World Bank president
"Banga brings with him unique and wide-ranging expertise in #financial and #technological sectors, rich experience in guiding large organisations that have invested and created jobs in #DevelopingEconomies, and in mobilising resources on a large scale," said another tweet.
With Ajay Banga nomination, top World Bank positions to held by Sikhs
Before Banga, who is slated to take up job - which, by convention, been reserved for a US citizen - this May, the World Bank already as a Sikh in a top post, with Indermit Singh Gill its Chief Economist. He is primarily known for pioneering the concept of the "middle-income trap" to describe how countries stagnate after reaching a certain level of income.
Biden names Indian-American Ajay Banga to head World Bank, Harris says will be 'transformative' chief
If confirmed by the US Senate, Bang will be the first person of Indian descent to head the World Bank. He will succeed David Malpas, who was appointed to head the bank by fthen President Donald Trump. Banga will be the second American of Asian-American descent in that position; the first was Dr. Jim Yong Kim. The US has historically had a hold on the Presidency of the World Bank and the Europeans on the International Monetary Fund (IMF).
Global economy staring at two recessions in same decade which would mark a first in over 80 years
Given the fragile economic conditions, any new adverse development -- such as higher-than-expected inflation, abrupt rise in interest rates to contain it, a resurgence of the Covid-19 pandemic, or escalating geopolitical tensions -- could push the global economy into recession.
'Make in India' TV shipments grow 33% to reach 5 mn units
In the electronic wearables category, the true wireless stereo (TWS) segment led in terms of local manufacturing with almost 37 per cent of its shipments being manufactured in the country, according to Counterpoint Research. Bharat FIH led the 'Make in India' TWS shipments, followed by Padget, while Optiemus led the locally manufactured smartwatch shipments.
UK economy rebounds in Oct but recession still looms
October's rebound followed a fall of 0.6 per cent in September, which was affected by the extra bank holiday for the funeral of Queen Elizabeth II, Xinhua news agency quoted the Office for National Statistics (ONS) as saying on Monday. Car sales rebounded after a very poor September, while the health sector also saw a strong month, said ONS director of economic statistics Darren Morgan.
Rupee has done relatively well, says World Bank economist
In the last one year, the rupee has depreciated by around 10 per cent and though it may sound like a huge figure, compared to other emerging economies, India has not done badly, said Sharma on the occasion of the release of World Bank's India Development Update, which upgraded GDP growth to 6.9 per cent from the earlier 6.5 per cent.
World Bank upgrades India's GDP growth to 6.9% for current fiscal
In its India Development Update, the global financial institution said that the revised update was mainly due to greater resilience shown by the Indian economy against global shocks and better September quarter figures. The World Bank has revised its GDP estimate downwards for 2023-2024 from 7 per cent to 6.6 per cent.
Investment opportunities in space cooling to be $1.5 trillion by 2040 in India: World Bank report
India is experiencing higher temperatures every year. By 2030 over 160-200 million people across the country could be exposed to lethal heat waves annually, the report said in its finding. Around 34 million people in India will face job losses due to heat stress related productivity decline.
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