The continued broad-based decline in the global manufacturing PMI in June appears to confirm that the industrial malaise worsened in the second quarter.

Facebook’s new currency, Libra, could be a significant step forward in reducing the cost of processing international transactions. However, it is very unlikely to become a widely-used global currency.

Given the recent economic slowdown, new Finance Minister Nirmala Sitharaman is likely to announce more accommodative tax and spending measures when she unveils the union budget for this fiscal year on...