monetary system

NITI Aayog CEO B V R Subrahmanyam projects India to surpass Germany and Japan, becoming the world's third-largest economy within three years. He envisions India potentially reaching the second position globally by 2047, with a USD 30 trillion economy. Subrahmanyam emphasized India's demographic advantage as a stable supplier of working-age individuals amid global population decline.

Egypt's Suez Canal revenue plummeted by nearly two-thirds in 2024, reaching $3.991 billion, a sharp decline from $10.25 billion in 2023. This drop is attributed to regional conflicts, particularly Houthi attacks on ships in the Red Sea, which significantly disrupted maritime traffic. Consequently, the number of vessels passing through the canal decreased by 50%.

Following the RBI's rate cut, SBI has reduced its deposit rates by 10 basis points across select tenors, while keeping MCLR-linked lending rates unchanged. The EBLR, linked to the repo rate, has been reduced by 25 basis points, lowering home and personal loan interest rates. Other banks are expected to follow suit, with HDFC Bank already cutting savings account rates.

Global markets tumbled as the US-China trade war escalated, with China imposing 84% tariffs on US goods. US stock futures fell, and bond yields surged, signaling concerns about the bond market. Major pharmaceutical stocks dropped, and recession fears rose. Investors sought safer assets, with gold and the yen gaining, while oil prices plunged.

Cancer natives will experience a surge of courage, inspiring them to embrace new challenges, but overcommitment should be avoided. Short journeys may bring refreshing change. Financial caution is advised, and major purchases should be postponed. Relationship dynamics might be strained due to differing opinions, requiring empathy and understanding. Health could be unpredictable, so prioritize rest and a balanced diet.

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This week's wealth horoscopes suggest varied financial paths for each zodiac sign. Aries should focus on long-term planning, while Taurus can leverage confidence for gains. Gemini may face unexpected shifts, and Cancer needs emotional awareness in financial decisions. Leos might see rewards for past efforts, and Virgos should embrace a methodical approach to wealth.

A weaker dollar will definitely lead investors to look beyond the US. This will be a big opportunity for countries like India. But the matter is not as simple as it appears

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Donald Trump paused tariffs on most nations but increased levies on China. China retaliated and called for mutual respect in dialogue. The trade war threatens global supply chains and economic stability. Xi Jinping prepares for long-term confrontation, reducing reliance on the US. Both countries face economic pain, but neither leader is willing to back down. The situation is a deadlock.