Last week in a nutshell
UK & Japan slip into recession with 18 other countries at risk of recession. During this grim hour, Indian economy grew at 8.4% in Oct-Dec. But what's behind all this? (more on this below 👇)
Paytm gets a ₹5.49 Cr penalty for money laundering. Apparently, the proceeds of crime were routed through bank accounts maintained with Payments Bank by entities engaged in illegal activities.
Disney-Hotstar Merger estimated at $8.5 billion. Reliance will own 16.3% of the merged entity, Viacom18 will own 46.8% and Disney 36.8%. Nita Ambani will serve as chair of the merged entity.
China loans $2 bn to Pakistan. Their cash-strapped economy is struggling to stabilise from a financial crisis and secured a $3 billion standby arrangement from the IMF last summer.
A global recession but India still soars!
Britain's economy fell into a recession in the second half of 2023, with GDP contracting by a worse-than-expected 0.3% in the three months to December. Manufacturing output in Europe’s biggest economy has been trending downward since 2017, and the decline is accelerating as competitiveness erodes.
Japan's economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, losing its title as the world's third-biggest economy to Germany.
During this mayhem, global investors’ are showing great confidence in India's real estate sector. This has resulted in higher equity investment inflow into the sector.
India's resilience in the face of global economic headwinds became evident as the property sector attracted over $5.8 billion institutional investments across 53 deals in 2023, a 14% increase compared to 2022.
