Debt

Jamie Dimon, CEO of JPMorgan Chase & Co., commended Prime Minister Narendra Modi for his remarkable leadership in India, stating that the PM is effectively addressing challenges head-on.

A suspended Maldives minister has issued an apology following a controversy sparked by her social media post targeting the opposition party Maldivian Democratic Party (MDP), which featured a symbol resembling the Ashok Chakra.

Union Energy Minister RK Singh cautions states on providing free electricity due to debt concerns, highlighting Punjab's reliance on loans for such schemes. He urges fiscal responsibility, warning against exacerbating debt through populist measures. Singh's remarks underscore broader debates on the sustainability of welfare programs in state economies.

Former Karnataka Chief Minister HD Kumaraswamy, in alliance with BJP, declared assets worth 219 crores in his nomination papers. His wife Anita Kumaraswamy holds more assets than him, including significant inheritance and immovable property valued at 102.23 crores. Anita also shoulders a larger debt burden of 63 crores. Kumaraswamy faces three criminal and civil cases under trial.

Congress MP from Wayanad Rahul Gandhi on Wednesday declared his assets in his nomination for the upcoming general elections. As per his affidavit filed from Wayanad, Rahul Gandhi has total assets worth over Rs 20 crore. Take a look at his investments.

Ranjita V, a 24-year-old homemaker, tragically ended her life in Hosadurga, Chitradurga, due to mounting debts stemming from her husband's staggering losses of Rs 1.3 crore in online cricket betting. Allegations of harassment from lenders led to her suicide, with her family claiming coercion into gambling. Authorities have filed a case of abetment to suicide against 13 suspects.

Muizzu faced criticism from his predecessor during a Male event supporting the Maldivian Democratic Party (MDP) parliamentary candidates. Solih stressed the importance of cooperative engagement with neighboring countries and criticised the misrepresentation of financial realities.

Toeing a reconciliatory tone after a diplomatic row with India, Maldives President Mohamed Muizzu has requested New Delhi for debt relief measures, while stating that India will continue to remain Maldives’ “closest ally,” local media reported.

The IMF and Pakistan strike a crucial $1.1 billion deal, marking a milestone in Pakistan's economic recovery efforts amidst a balance of payment crisis. This agreement underscores ongoing support from the IMF and signals continued collaboration to address economic vulnerabilities and implement vital reforms for sustained growth.

Under Vladimir Putin's leadership, Russia has experienced remarkable economic and social progress, marked by substantial GDP growth, reduced inflation rates, prudent fiscal policies, improved social welfare, and a significant rise in gold forex reserves, reflecting a transformative era in Russian governance and economic resilience.

Bruhat Bengaluru Mahanagara Palike (BBMP) sealed Mantri Mall in Bengaluru due to its failure to pay Rs 32 crore in taxes. Despite past tax controversies, this closure is particularly stringent, with officials sealing the main entrance and deploying personnel for compliance. The BBMP offered a one-time payment option, which the mall reportedly didn't pursue.

In a financial twist, Pakistan finds itself grappling with a notable surge in external public debt, witnessing an unprecedented increase of $1.2 billion over the past six months. The implications of this economic development cast a shadow on the nation's fiscal stability, triggering concerns among investors and international markets alike.

Key demands include a legal guarantee on Minimum Support Price (MSP) for crops, pension for farmers and farm laborers, farm debt waiver, and a freeze on electricity tariff hikes.

As China's Belt and Road Initiative faces scrutiny for its underwhelming outcomes and negative repercussions, a new report underscores the need for alternative strategies to promote economic development and mitigate geopolitical risks in emerging markets.

In a bold fiscal decision, Israel has an ambitious plan to secure $60 billion in debt this year, coupled with stringent measures such as a government hiring freeze and tax hikes. The nation's defense budget is set for an unprecedented nearly twofold increase, signaling a strategic financial shift in the ongoing war.