Business & Economy

May 16, 2024 3:33 PM

Global stocks and bonds bask in rate cut hopes

World stocks hit a record high and bond markets rallied on Thursday as galvanized hopes of interest rates cuts in the United States and other major economies extended a powerful month-long global bull run. Investors were still basking in the glow of Wednesday's mild U.S. inflation data as well as g...

September 16, 2024 6:06 PM

Centre cuts windfall tax on petroleum crude, new rates effective from today

India has reduced the windfall tax on petroleum crude from 8,400 rupees per metric ton to 5,700 rupees, effective from May 16. The tax, which is revised every fortnight, remains unchanged at zero for diesel and aviation turbine fuel, according to a government notification issued on May 15. This mo...

May 16, 2024 1:28 PM

FICCI-IESA sign MoU to boost India’s semiconductor and electronics industry

India Electronics and Semiconductor Association (IESA) has signed a Memorandum of Understanding (MoU) with Federation of Indian Chambers of Commerce and Industry (FICCI) to promote innovation, support the semiconductor and electronics industry, strengthen supply chains, and foster development of the...

May 15, 2024 7:57 PM

Nepal Aims for Economic Growth Surge to 7.3% in 16th Plan

The government of Nepal's policy and program document for the upcoming fiscal year 2081/82 was tabled at a joint meeting of the federal parliament, with President Ram Chandra Paudel addressing the session yesterday. The economic growth rate of Nepal is projected to reach 7.3 per cent in the next fiv...

May 15, 2024 7:22 PM

Egypt receives second payment of $14 bln from UAE for Ras al-Hikma project

Egypt received $14 billion from the United Arab Emirates on Wednesday as a second payment for the development of Ras al-Hikma peninsula, a cabinet statement said. The deal with Abu Dhabi sovereign fund ADQ to develop the peninsula 200 km west of Alexandria includes a total of $35 billion in investm...

May 15, 2024 6:18 PM

India registers record export at USD 778 billion in 2023-24

India registered record exports in the just concluded financial year 2023-24 at USD 778 billion, sources in the commerce ministry said. In the financial year 2022-23, the combined value of exported goods and services stood at USD 776.3 billion. In 2023-24, services exports increased from USD 325.3 ...

September 16, 2024 6:07 PM

US-China tariff war presents trade opportunities for India

The latest round of the tariff war between the US and its largest trade partner, China, is set to present a significant opportunity for India. US President Joe Biden, in a move that is seen as a protectionist measure to reduce trade imbalance, imposed heavy tariffs on Chinese products including bat...

May 15, 2024 3:20 PM

Biden’s new China tariff wall faces leakage via Mexico, Vietnam

The Biden administration's new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of U.S. manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them. U.S. officials and trade experts say that wi...

September 16, 2024 6:07 PM

Alphabet debuts beefed-up AI search and chatbot as competition heats up

Google parent Alphabet on Tuesday showed how it is building on artificial intelligence across its businesses, including a beefed-up Gemini chatbot and improvements to its prized search engine as it races to compete with AI rivals. The flurry of announcements underscores Google's efforts to refresh ...