India’s government named Shaktikanta Das, a seasoned financial bureaucrat, as the new governor of the Reserve Bank of India (RBI) on Tuesday, replacing Urjit Patel, whose abrupt resignation roiled financial markets.
Britain will remain a pre-eminent global financial centre after Brexit with an agile, but not lax, system of financial regulation, Chancellor Philip Hammond said on Tuesday.
One of the International Monetary Fund’s top officials warned on Tuesday that storm clouds were gathering over the global economy and that governments and central banks might not be well equipped to cope.
The European Central Bank won a landmark court case on Tuesday as the European Union’s top judges backed its multi-trillion- euro purchases of government bonds after a complaint by a group of German eurosceptics.
China’s banks extended more new loans than expected in November after a sharp drop the previous month, in a sign that recent government pressure on lenders to help struggling smaller firms may be starting to bear fruit.
German economic sentiment picked up in December, the ZEW research institute said on Tuesday, but it warned that fourth quarter growth was set to be subdued and cautioned of the risks to exports from Brexit and the international trade dispute.
The French government now expects a 2019 budget deficit of 2.5 percent of economic output excluding the one-off impact of transforming a payroll tax rebate into a permanent cut, the budget minister said on Tuesday.
India Inc's overseas investment fell 35 per cent over the year to USD 1.05 billion in November, data from the Reserve Bank showed Tuesday.
Das, who was earlier the economic affairs secretary, will be the RBI governor for a period of three years. He is a 1980-batch Indian Administrative Services officer from the Tamil Nadu cadre.