Global News

[ad_1] BEIJING: China’s economy grew 6.3% in the second quarter of the year after near-stagnant growth a year earlier, missing analyst expectations even as momentum is expected to weaken in the coming quarters. The 6.3% growth in China’s gross domestic product from April to June compared to the same period in 2022 was the fastest in the past year, and outpaced the 4.5% growth in the previous quarter, according to government data released Monday. The GDP in the second quarter was up 0.8% compared to the first three months of the year. The surge in growth is largely due to China’s GDP growing just 0.4% a year ago, amid strict lockdowns in cities like Shanghai during China's worst Covid-19 outbreak of the pandemic. Analysts had forecasted growth for the quarter ended June to exceed 7%. China’s GDP in the first quarter beat expectations and grew by 4.5%, as consumers flocked to shopping malls and restaurants after nearly three years of “zero-COVID” restrictions were removed at th...

[ad_1] NEW DELHI: Capital Group, an American financial services company, has said that India appears to be more attractive than other emerging markets in the wake of the reforms initiated by the Modi government and a boost to domestic manufacturing, offering massive opportunities across sectors — from real estate to financial services and telecom. Although it said that the stock markets — which has seen the Sensex and Nifty trade at record highs in recent weeks — appear overvalued, there is a lot going for it. “. . . we believe the fundamental outlook for India is arguably better than ever. The market has a lot going for it: It’s one of the world’s fastest-growing economies, inflation is under control, the government has been fiscally responsible, and corruption is lower than it was a decade ago. If Indian companies can deliver on earnings and cash flows, we think it’s possible the market can grow into these valuations. The path of India’s equities has never been a straight lin...