Business & Economy

May 15, 2024 12:01 PM

Moody’s expects India to grow 6.6% in 2024-25 fiscal

The Indian economy is expected to grow at 6.6 per cent in the current financial year 2024-25, fuelled by strong credit demand that will support the NBFC sector's profitability, Moody's Ratings said. The rating agency's 2024-25 GDP growth estimates are, however, lower than the projections made by th...

September 16, 2024 6:07 PM

Indian stocks continue to remain buoyant after recent sell-off

Indian stock indices started off Wednesday's session marginally higher, extending gains for the fourth consecutive session. The upbeat start was fueled by positive overnight cues from US markets. At 9:27 am, the benchmark Sensex was trading at 73,193.81, up 89.20 points or 0.12%, while the Nifty ro...

May 15, 2024 10:23 AM

GLOBAL MARKETS-Stocks rise, dollar drifts ahead of US inflation report

Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed U.S. producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's near-term policy path. MSCI's broadest index of Asia-Pacific shares out...

May 14, 2024 8:34 PM

China strongly opposes U.S. tariff hikes, pledging measures to defend rights

China strongly opposed the United States' tariff hikes, its commerce ministry said on Tuesday, vowing it will take resolute measures to defend its rights and interests. "U.S. raising Section 301 tariffs violates President Biden's commitment to 'not seek to suppress and contain China's development' ...

May 14, 2024 5:11 PM

Two-wheeler sales surge 31 percent in April

The Indian automobile industry kicked off the financial year 2024-25 on a positive note, witnessing a remarkable 31% growth in two-wheeler sales in April compared to the same period last year. According to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday, April 2024 ...

May 14, 2024 3:54 PM

Asia to contribute 60% of global growth in 2024: IMF official

Asia continues to power ahead as the engine of the global economy, with the region expected to contribute a massive 60% to world growth in 2024, a senior International Monetary Fund (IMF) official stated on Monday. Speaking at the 13th IMF-Japan High-Level Tax Conference for Asian Countries in Toky...

May 14, 2024 3:34 PM

Biden sharply hikes US tariffs on Chinese imports

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. Biden will...

May 14, 2024 1:46 PM

Melinda Gates to exit Gates Foundation with $12.5 bln for own charity work

Melinda French Gates is leaving the charitable foundation she co-founded with former spouse Bill Gates more than 20 years ago and will get $12.5 billion for her own work to uplift women and families, she said on Monday. The billionaire benefactors parted ways in 2021 after 27 years of marriage but ...

September 16, 2024 4:15 PM

Zomato’s profit surged by 26.8 pc to Rs 175 crore in Q4 FY23-24

The online food delivery platform Zomato reported a surge of 26.8 per cent in the consolidated net profit to Rs 175 crore for the fourth quarter of FY23-24 as compared to the previous quarter. The company reported a net loss of Rs 188 crore during the corresponding period last year. The company's ...

September 16, 2024 4:15 PM

India and Iran ink long-term deal for Chabahar Port Operations

In a significant milestone for the India-Iran relationship and to foster close cooperation to make Chabahar Port a regional trade transit and connectivity hub, the two countries on Monday signed a long-term contract for operating the Shahid-Beheshti Port Terminal in presence of Indian and Iranian Mi...