By Sanjeev Oak While the immediate threat of a U.S. default has been temporarily averted, the specter of recession continues to cloud the economic horizon. Recent data reveals a meager growth rate of just 1.1% for the U.S. economy, with consecutive quarterly declines further signaling economic distress. In Europe, Germany
Read MoreRegional banks in the United States are grappling with financial turmoil, raising existential concerns. Meanwhile, larger banks appear to be capitalizing on this crisis, effortlessly acquiring and merging with struggling smaller banks. By Sanjeev Oak Imagine if such events transpired in India. Suppose a small cooperative bank operating within a
Read MoreBy Sanjeev Oak For the first time since 2011, Fitch Ratings has downgraded the United States’ long-term credit rating from AAA to AA+. This decision has sparked a global debate, drawing sharp criticism from U.S. Treasury Secretary Janet Yellen and skepticism from JP Morgan CEO Jamie Dimon. The downgrade also
Read MoreBy Sanjeev Oak In 2023, the world witnessed even a global superpower like the United States teeter on the brink of bankruptcy before pulling itself back. The looming government shutdown, threatening millions of jobs, was averted at the last minute. Meanwhile, the Israel-Hamas conflict exposed growing opposition from Arab nations
Read MoreBy Sanjeev Oak At the recently concluded G7 summit in Italy, the G7 group of wealthy nations officially endorsed India’s proposed Middle East-Europe Economic Corridor (IMEC). This ambitious project aims to boost global trade by establishing a robust infrastructure network and alternative, seamless transportation routes. A Strategic Link Between Asia
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