ANI
11 Oct 2018, 16:25 GMT+10
New Delhi [India], Oct 11 (ANI): Amidst a stable Indian stock markets outlook, the developments in the United States are affecting the markets across the world, said a top Finance Ministry official on Thursday.
"The US companies fear their competitiveness to be hit due to the US-China tariff war," the Finance Ministry official said while elaborating on the higher rates that are affecting the profitability of the US companies, thereby impacting US markets.
The ministry official added that India stands to gain in the future despite the global meltdown. "Indian equity market down only 2.5 percent today, which makes the markets reasonably stable," he added.
He added that the International Monetary Fund (IMF) has downgraded the Gross Domestic Product (GDP) projections of the US and China.
However, the IMF on Wednesday said that risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further.
Talking about the Indian Rupee, which touched a fresh record low of 74.46 per dollar on Thursday, the Ministry official said that Rupee should now start strengthening from the current levels.
"Our main worry is on Rupee, Current Account Deficit (CAD) balance of payment. The government has a strategy in place to deal with Rupee, CAD if need be," he added.
"National Housing Bank has rightly decided to increase refinance window," he added while commenting that the move has helped ease liquidity among housing finance firms. (ANI)Get a daily dose of Kansas City Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kansas City Post.
More InformationECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...