REAL WAGES
With a corrupt military, can China's Xi Jinping wage and win a war?
Despite Xi Jinping's efforts to strengthen China's military, internal corruption and challenges in military modernization hinder the country's ambitions for global dominance. The ongoing anti-corruption campaign and concerns over military capabilities pose significant obstacles in Xi's quest for establishing a 'world-class' military.
How did David and Victoria Beckham deal with the lowest point in their marriage?
A book written by journalist Tom Bower has provided details of the toxic manner in which David and Victoria Beckham dealt with a crisis in their marriage. They decided to work on their marriage and resolve all the disputes.
Dollar finds footing as traders turn to US services data
The dollar steadied as traders awaited an interest rate decision in Canada and U.S. services data. The yen received a boost after reports of potential bond buying cuts by the Bank of Japan, leading to a rise in the Swiss franc. Japanese real wages fell for the 25th straight month due to inflation outpacing pay rises.
How much will Kylian Mbappe earn with transfer to Real Madrid? Know his net worth
The star footballer has signed a 5-year contract with the Spanish club and is expected to still earn less than what he was making in his previous club.
Why India needs three salary wedges to look beyond reservations to reduce injustices
Rahul Gandhi's quota cap strategy echoes Indira Gandhi's tactics on quotas from Neerja Chowdhury's book. In 1980, she guided P Shiv Shankar on handling the Mandal Commission report, emphasizing the delicate balance of quotas' impact. India in 2047 aims to move beyond reservations and adopt an abundance mentality focusing on employment and education, shifting from scarcity thinking.
We wish to grow in SOBO market which will see resurgence of residential developments: Boman Rustom Irani, Keystone Realtors
Keystone Realtors, led by Boman Rustom Irani, are expanding into SOBO due to city infrastructure growth. FY25 outlook is positive, with FY24 surpassing expectations. Strong OCF, acquisitions, and partnerships contribute to the company's success. The real estate sector in Mumbai is poised for growth, driven by infrastructure development and a surge in redevelopment projects.
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Congress promise of Rs 400 per day national minimum wage is real '400 paar': Jairam Ramesh
The Congress has reiterated its 'Shramik Nyay' guarantees for labourers, including a national minimum wage of Rs 400 per day. Congress general secretary Jairam Ramesh criticized the BJP's '400 paar' slogan, which aims to change the Constitution. The Congress also promised 'Shram ka Samman' (Dignity for Labour) with a national minimum wage, including for MGNREGA.
Demands for Gorkhaland and a three-cornered fight in unpredicatable Darjeeling Lok Sabha seat
Considered a stronghold of the BJP, Raju Bista, originally from Manipur, is the BJP candidate contesting for a second time. This time, there is a three-cornered fight –– Trinamool candidate Gopal Lama, a former bureaucrat and son of the soil is pitted against Congress’s Munish Tamang and BJP's Bista.
'Golden visa' programs, once a boon, lose their luster
In an effort to close huge budget deficits, six eurozone nations granted the visas in 2012, during the height of Europe's fiscal crisis. Spain, Ireland, Portugal, and Greece were among the nations in need of international bailouts. These nations were in particular short of cash to pay back creditors and saw an opportunity to attract investors while reviving their stagnant real estate markets.
Modi caused 'unprecedented decline' in worker wages; INDIA govt will ensure higher growth: Congress
Congress has alleged PM Modi caused a decline in worker wages, affecting economic growth. Ramesh cited various data sources showing stagnation under Modi's governance, contrasting with the growth during Manmohan Singh's tenure.
UK unemployment rises as wage growth eases
The UK unemployment rate rose to 4.2 percent in the three months to the end of February, up from 3.9 percent in the three months to January, the Office for National Statistics (ONS) said in a statement.
Japan real wages fall for 23rd straight month in February
Japanese workers faced a 23rd month of falling real wages in February due to higher prices. This crucial data, monitored by the Bank of Japan, reflects consumer purchasing power and was reported by the labour ministry.
Residential real estate upcycle is expected to continue for 12-18 months, says Dhruv Agarwala, REA India group CEO
Residential real estate demand is rising with stable interest rates. Concerns exist over high prices and potential bubble territory. Foreign sentiment towards India is positive, and REA India anticipates improved financials amid a continuing upcycle.
Big poll spends unlikely to lift rural demand
Economists suggest that rural consumption in India needs further government support and sustained capital expenditure to become broad-based in the coming quarters. The upcoming general election is unlikely to provide a significant boost to consumption. Instead, broader economic growth, easing inflation pressures, and government measures such as rationalizing GST rates and increasing allocations to rural schemes could support demand. Automakers also do not expect a huge sales boost from the elections, as historical data shows no real correlation between election years and sales.
Toyota agrees to biggest wage hike in 25 years, paves way for BOJ shift
Toyota, Panasonic, Nippon Steel and Nissan were among some of Japan Inc's biggest names that agreed to fully meet union demands for pay hikes at annual wage negotiations that wrap on Wednesday.
Appetite for both residential and rental real estate strongest in last 5 years: DLF management
Ashok Tyagi and Sriram Khattar of DLF discuss the cyclical nature of the real estate sector in India, the positive economic and political stability, the impact of RERA and GST, and the strong demand for residential and rental properties. According to Khattar for the next six-eight quarters, it is definitely looking good.
What the US economy needs is a cheap date
Food prices have increased by 25%, taking up over 11% of income in the US. Despite inflation, people spend more in restaurants. Meanwhile, TVs, air conditioning, and car services became cheaper. This has resulted in a big drop in the standard of living for many people. There has been a lot of theorising about why so many Americans feel worse off economically. True, real wages are now finally increasing, the labour market is great, the stock market is up, and consumers are spending. But none of this amounts to a complete picture of Americans' quality of life.
Fed gets another reason not to rush on rate cuts
Employers added a robust 275,000 jobs last month, a Labor Department report showed on Friday, handily beating the 200,000 that economists expected. Still, the report's revisions of prior months' estimates showed smaller job gains in January and December than had earlier been thought, suggesting that a long-anticipated slowing in job gains is underway. The U.S. unemployment rate rose to 3.9%, its highest in two years, though still below levels the Fed sees as sustainable in the long-run.
Consumption growth a bit better than last quarter but likely to remain weak overall: Aurodeep Nandi, Nomura
"Q3 consumption growth likely to lag. K-shaped recovery continues. Industrial sector expected to perform decently. Services sector should be fine. Agri sector not expected to contribute significantly. Trade, hotel, transport, and communication may be affected. Construction sector momentum may slow down. The financial service, real estate, professional services should be relatively fine, that should be relatively strong in this quarter. "
A tale from inflation to disinflation- dominating the currency dynamics!
In 1975, inflation in the US was fueled by high government spending on the Vietnam War, soaring oil prices due to OPEC's actions, a wage-price spiral driven by strong labor unions demanding higher wages, and loose monetary policy.
Rural-urban wage gap narrows in manufacturing; greater mobility, MNREGA factors
Greater mobility, higher payouts under NREGS, and lower urban wage elasticity are bringing parity between urban and rural manufacturing units. The gap between rural and urban wage growth has widened post-pandemic. The relative stickiness of urban wages with regard to profits may be a factor in the narrowing of the gap.
Rural distress? Where?
The narrative of deepening rural distress is flawed and relies on misconstrued data about wage growth. Comparisons between different time periods fail to consider the context and statistical nuances. Nominal wage growth during the last two decades has been significant, with average wages more than doubling in the current regime. However, interpreting this data as a sign of rural prosperity overlooks important factors.
Japan's December real wages, household spending fall again
Japan's wage trend, along with inflation, is closely watched, with the Bank of Japan regarding both indicators among the key data to consider in preparation for phasing out its massive stimulus policy.
U.S.-China relations: The rise and fall of the world's most successful joint venture
Here were two countries separated by the Pacific Ocean, one shaped by freewheeling capitalism, the other ruled by an authoritarian Communist Party, yet conjoined in an enterprise so consequential that economic historian Niall Ferguson coined a term: Chimerica, shorthand for their "symbiotic economic relationship."
Israel is waging 'war of revenge' on Gaza, Palestinian minister says
Gaza is reeling from almost three weeks of Israeli bombardment, which was triggered by a mass killing spree in southern Israel by the Iranian-backed Hamas militants who run Gaza. Israel says it has the right to defend itself. Al-Maliki urged international leaders to press Israel for a full ceasefire to make sure urgently needed humanitarian aid can be brought into Gaza.
Another dimension to inflation targeting
The Reserve Bank of India (RBI) is facing challenges in achieving its target retail inflation rate of 4% due to volatility in food and fuel prices. This volatility affects policymaking, leading to fluctuations in gilt yields and exchange rates. The RBI not only needs to focus on reducing inflation but also stabilizing financial markets.
Fed seeks a strong labour market over a sustained period: Powell
"Lots of good things happen" in addition to real wage increases when a good labour market lasts for a sustained period of time, Powell said Monday. There are expanded efforts to get more people into the workforce, for example, like programmes that prepare prisoners for work a year before they are released.
Below-expectation inflation may boost growth by hiking real wages: Ind-Ra
The economists said a percentage point increase in real wages leads to a rise in GDP by 0.64 percentage point. So, if inflation were to fall from 5.3% (current projection for Ind-Ra) to 4.5% in FY24, it could lead to real wage rising to 4.4% from 3.6% and GDP growth settling at 6.4% compared to projected 5.9%.
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