Joe Biden, the
president, stated to donors that he believes the United States will
prevent a possible recession that economists and banks previously forecast.

Economists have
predicted that a recession will begin next month, Biden said during a
fundraiser in the Maryland suburbs of Washington on Tuesday evening.Read also this: Prime Minister launches five new Vande Bharat trains to improve utilities.

“It has been
expected for eleven months, and guess what? I don’t believe it will
occur,” he added, citing the robust labour market and his efforts to curb
inflation.

The
latest housing, manufacturing, and consumer confidence data have
outperformed expectations, indicating a robust economy. Tuesday’s reports
indicated that new home sales increased at the quickest annual rate in more
than a year, durable goods orders exceeded expectations, and consumer
confidence reached the highest level since the beginning of 2022.

Although the data do
not rule out the possibili

Prime Minister Narendra
Modi launched five Vande Bharat trains on Tuesday to enhance connectivity in
six major cities across the nation.

The Prime Minister
launched two physically and three virtually five
semi-high-speed trains bound for Madhya Pradesh, Karnataka, Maharashtra,
Goa, Bihar, and Jharkhand from the Rani Kamlapati railway station in Bhopal.Read also this: In January–March, India’s current account balance presumably turned positive, marking the first quarterly surplus.

Railway minister
Ashwini Vaishnaw, Madhya Pradesh chief minister Shivraj Singh Chouhan, Governor
Mangubhai Patel, and Union ministers Narendra Singh Tomar and Jyotiraditya
Scindia, among others, were present at the ceremony.

These trains will boost
connectivity in states such as Madhya Pradesh, Karnataka, Maharashtra, Goa,
Bihar, and Jharkhand.

Tuesday marked the
first time that several Vande Bharat trains were inaugurated in a single day.
The two of them are for Madhya Pradesh, In

For years, China’s economy has been rapidly expanding,
becoming the world’s second-largest economy. Their economic growth was nothing
short of astonishing – double-digit GDP growth year after year. However, the
recent numbers tell a different story. The Chinese economy is facing
significant challenges due to a combination of factors. Read also this:  India is APAC’s fastest-growing Economy, according to S&P

Decline in Exports

One of the major struggles is a decline in exports.
China has been heavily reliant on exports for economic growth, but as global
demand has weakened, their export figures have fallen. In May, Chinese exports
were down 7.5% year-over-year. This decline in
exports is hurting Chinese businesses, which are struggling to maintain their
profit margins. The trade wars with the United States and other countries have
contributed to this decline, further intensifying the situation.

Demand for Chinese goods has declined due to rising global prices, the

An increase in services
exports and a decline in the trade deficit led to a positive current account
balance for India in the first quarter of 2019, according to a survey by
Reuters.

In the final quarter of
the 2022/23 fiscal year, the current account balance is projected to have
posted a surplus of $3.3 billion, or 0.4% of gross domestic product (GDP),
according to the latest survey of 22 economists.Read also this: India is APAC’s fastest-growing Economy, according to S&P

That would represent a
substantial improvement over the previous quarter’s deficit of $18.2 billion,
or 2.2% of GDP. From a deficit of $5.0 billion to a surplus of $7.8 billion,
forecasts varied widely.

While we anticipate the
merchandise trade deficit to shrink due to easing global commodity prices, the
invisible trade balance should remain stable at the same level as the
previous quarter due to an increase in services exports, according to Upasana
Chachra, the chief India economist at Morgan

Indian consumers’
wallets have been on fire for the past few days due to a severe shortage of vibrant red fruit. Retail prices for tomatoes have increased to Rs 80–120 per kilogram,
while wholesale prices have increased to Rs 65–70.

High temperatures,
limited productivity, and delayed rainfall across much of the country all play
a role in driving up costs. The Reserve Bank of India (RBI), whose job it is to
keep inflation under control, has been hit hard by the recent spike in the
price of tomatoes, which were selling for Rs 3-5 a kg as recently as May.Read also this: EPFO may delay increased EPS pension by three months: Sources

In just two days, the
price of tomatoes has doubled. Tomato imports from Haryana and Uttar Pradesh,
two nearby states, have decreased. The tomatoes we use today come all the way
from Bangalore. The recent rains have harmed the ground-level tomato plants.
Ashok Ganor, a wholesale market vendor in Delhi, claimed that only the tomatoes
grown

Sources claimed the
EPFO may extend the higher EPS pension application deadline by three months.
Many employees have complained about difficulty filing for EPS pension
increases, thus the extension is expected.Many workers have
failed to submit an application for a pension increase because of confusion
about the requirements and a lack of timely clarification from EPFO. The
deadline to apply for an increased pension under the Employees’ Pension Scheme
(EPS) is today, June 26, 2023, so they better get going. EPFO insiders are
considering a three-month delay as a possible solution.Read also this:  India is APAC’s fastest-growing Economy, according to S&PMost pensionable
workers rank applying for a rise as one of their top priorities. A person
should only choose this path if they are positive that doing so would result in
a positive outcome. But unless they’re exceptionally good at maths, there’s no
way they could have known that. The increased pension application is a shot

India’s GDP growth
prediction was maintained at 6% by S&P Global Ratings, who also noted that
India has the greatest economic growth in the Asia-Pacific region. S&P
Global Ratings projected the same growth for Vietnam and the Philippines along
with India in its quarter economy update for the Asia-Pacific region released
on Monday.

S&P has maintained
its previous projections for India’s GDP growth in both the current fiscal year
and the following fiscal year, FY25, in part due to the country’s domestic
flexibility.Read also this: Pakistani Economic Crisis: A Closer Look

The growth forecast for
the next few years is positive. S&P Global’s Asia-Pacific head economist
Louis Kuijs was quoted by PTI as saying that the region’s emerging markets
would continue to be among the world’s fastest expanding through 2026.

The Reserve Bank of
India (RBI) also reduced its inflation prediction for FY24 in the most recent
Monetary Policy Meet (MPC), which ended on June 8. The RBI’s

An agreement for a
“Strategic Partnership” between India and Egypt was signed by Prime
Minister Modi and Egyptian President Abdel Fattah El-Sisi.

On Sunday, Prime
Minister Narendra Modi returned home from a two-day State visit to Egypt, where
he visited a mosque that was built over a thousand years ago, paid respect
to World War I heroes, and received the highest state honour of the African
country.Read also this: PM Modi ends two-day Egypt tour with “Order of Nile” and “strategic partnership” agreements.

My trip to Egypt was an
important part of history. The people of both countries will reap the benefits
of this revitalization of ties between India and Egypt. After leaving Cairo,
the prime minister tweeted a video of the highlights of his visit with a heartfelt
thank you to President, Abdel Fattah El-Sisi, the Government of Egypt, and the
people of Egypt.

Modi and his Egyptian
counterpart, Mostafa Madbouly, ended their trip at the Great Pyramids of Giza.
Follow

After concluding his
two-day visit to Egypt, the Prime Minister of India, Narendra Modi, departed
Cairo for New Delhi after signing an agreement that intended to elevate the
level of strategic cooperation between the two countries bilateral
partnership. In addition, Egyptian President Abdel Fattah El-Sisi bestowed the
“Order of the Nile” award upon Prime Minister Narendra Modi. This is
the nation’s highest distinction.Read also this:  Prime Minister Modi arrives in Cairo for his first bilateral visit.

El-Sisi welcomed Modi,
who is in Egypt for two days on a state visit, at the Presidential Palace,
where they had a private meeting. Modi is in Egypt for a state visit. In
addition, on Sunday, Modi traveled to Cairo to tour the famous Al-Hakim
Mosque, which dates back to the 11th century and was recently repaired with the
assistance of India’s Dawoodi Bohra community. Later, he visited the Heliopolis
War Cemetery in Cairo to pay his respects to the Indian soldiers who had

Prime Minister Narendra
Modi arrived in Egypt on June 24 for the first bilateral visit by an Indian PM
in 26 years, following a series of successful visits to the United States. Read also this:  PM Modi US Visit: How do the people perceive him and his trip to the US?

Earlier, Prime Minister
Narendra Modi encouraged the Indian diaspora and American businesspeople to
grab the opportunity presented by the developing relationship between India and
the United States. During the US-India Strategic Partnership Forum (USISPF), he
stated, that today’s technological agreement at the White House is an important
signal to the businesses, producers, and innovators of both nations: This is
the time.

The governments of
India and the United States have already laid the groundwork. But it is now up
to you to make something of this soil. The winner is the one who plays. I have
faith that you won’t waste this chance.

According to Prime
Minister Modi, the aspirations of the Indian