Reuters

MUMBAI (Reuters) - India is expected to grow by 7.2% in the current fiscal year, stronger than earlier expected, with its central bank opting for just a one-quarter-point rate cut in that period, Fitch Ratings said in its quarterly Global Economic Outlook (GEO) report published on Tuesday.

The ratings agency has also raised its world growth forecast for 2024 to 2.6% from 2.4% earlier as confidence in European recovery prospects improve, China's export... (continue reading...)

SYDNEY (Reuters) - Australia's central bank held interest rates steady on Tuesday as expected, while reiterating that it was not ruling out further increases if needed to control inflation.

Wrapping up its June policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, where they have been since a hike in November last year.

Markets had wagered heavily on a steady outcome given the economy almost ground to... (continue reading...)

KUALA LUMPUR (Reuters) - Malaysia is preparing to join the BRICS group of emerging economies, Prime Minister Anwar Ibrahim said in an interview with Chinese media outlet Guancha.

The BRICS group of nations originally included Brazil, Russia, India, China, and South Africa, which gave it the acronym.

The group last year began to expand its membership as it looks to challenge a world order dominated by Western economies, with Saudi... (continue reading...)

BEIJING (Reuters) - Flash floods in China's Changji on Tuesday engulfed a car, and four people are missing, Chinese state media reported, as heavy rains and mudslides in several parts of the country cause widespread destruction and trigger mass evacuations.

Emergency officials in the mountainous area of Changji, in northwestern Xinjiang region, said heavy rainfall in Miaoergou township caused flash floods and mudslides to block roads, according to CCTV... (continue reading...)

-U.S. electric vehicle maker Fisker filed for bankruptcy protection late on Monday as deal talks with a big automaker collapsed, exposing the startup to the fallout of a rapid cash burn to deliver its 'Ocean' SUVs in the United States and Europe.

The company's unit, Fisker Group Inc, filed for Chapter 11 bankruptcy, listing estimated assets in the range of $500 million to $1 billion and liabilities in the range of $100 million to $500 million.