An economy (from Greek οίκος – “household” and νέμoμαι – “manage”) is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. Understood in its broadest sense, ‘The economy is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources’. A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human practices and transactions. It does not stand alone.
Wegovy-maker Novo Nordisk said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market. Under Jorgensen’s leadership, Novo Nordisk became a world leader in the weight-loss drug market, with sky-rocketing sales of its Wegovy and Ozempic treatments which propelled … Read more
Citigroup is cutting up to 200 information technology (IT) contractor roles in China, two people familiar with the matter said, as the bank looks to hire its own staff globally for such operations to improve risk management and data governance. Last July, U.S. bank regulators fined Citi $136 million for making “insufficient progress” fixing data … Read more
US President Donald Trump said Friday “a lot of people are starving” in the besieged Gaza Strip, where rescuers reported more than 50 deaths in Israeli air strikes since midnight. Trump’s brief comments on Gaza came as he capped the first foreign tour of his second term that saw him visit several Gulf countries but … Read more
“If the similar situation happens because of any other reasons, we will be looking it with an open mind. But right now, valuations are prohibitive for us to take incremental calls,” says Pankaj Tibrewal, IKIGAI Asset Managers.Interesting that you say that that there is still value on the table and you just fleetingly mentioned some … Read more
Chad‘s former prime minister Succes Masra, a critic of the ruling authorities of the central African nation, was taken by force from his home early Friday, his party said. “Succes Masra was just abducted by military force today, May 16 at 5:56 am” from his home, which also serves as headquarters for his party, Les … Read more
The Asia-Pacific Economic Cooperation group said Friday that it was “concerned” over the challenges to global trade, as ministers from APEC countries met in South Korea in the shadow of growing woes from US tariffs. Trade ministers from the top economies that make up APEC are meeting on South Korea’s Jeju Island amid concerns for … Read more
Shares of Zomato (Eternal) and Swiggy rose up to 3.3% on Friday after both companies removed the rain surcharge waiver from their membership programs. This means that even paying subscribers of Swiggy One and Zomato Gold will now have to bear an additional ‘rain fee’ during inclement weather. The surcharge, which ranges between Rs 15 … Read more
Pakistan again made a mockery of itself on the global stage after its foreign minister, Ishaq Dar, shared an AI-generated fake image of a British newspaper front page praising the Pakistan Air Force. The image, made to look like the front page of The Daily Telegraph, falsely claimed, “PAF is the undisputed king of the … Read more
Asian equities followed Wall Street higher in a sign the stock market rally has further to run. Treasuries advanced on Thursday as traders priced in two Federal Reserve rate cuts this year. Shares in South Korea and Australia climbed early Friday, while Japan’s were mixed. US futures inched higher after the S&P 500 rose 0.4% … Read more
Insurance aggregator PB Fintech on Thursday reported a consolidated net profit growth of 185% in Q4FY25 at Rs 171 crore versus Rs 60 crore reported in the year ago period. The company’s revenue from operations in the March-ended quarter stood at Rs 1,508 crore, which was up 38% over Rs 1,090 crore in the corresponding … Read more