Business & Economy

April 15, 2024 4:02 PM

Apple loses top phonemaker spot to Samsung as iPhone shipments drop, IDC says

Apple's AAPL.O smartphone shipments dropped about 10% in the first quarter of 2024, hurt by intensifying competition by Android smartphone makers aiming for the top spot, data from research firm IDC showed on Sunday. Global smartphone shipments increased 7.8% to 289.4 million units during January-M...

April 11, 2024 2:08 PM

WTO forecasts rebound in global trade in 2024

Global goods trade is expected to pick up gradually this year following a contraction in 2023 that was driven by high energy prices and related inflation, World Trade Organization (WTO) economists said in a new forecast. The volume of world merchandise trade is expected to increase by 2.6% in 2024 ...

April 10, 2024 12:12 PM

Fitch cuts China’s ratings outlook on growth risks

Fitch cut its outlook on China's sovereign credit rating to negative on Wednesday, citing risks to public finances as the economy faces increasing uncertainty in its shift to new growth models. The downgrade follows a similar move by Moody's in December and comes as Beijing ratchets up efforts to s...

April 9, 2024 4:42 PM

Maruti Suzuki boosts Manesar plant capacity by 1 lakh units

Maruti Suzuki India Limited has expanded its manufacturing capacity at the Manesar plant by adding a new vehicle assembly line, resulting in an increase of 100,000 units per year. The Manesar plant now has a total production capacity of 900,000 vehicles annually. "Maruti Suzuki is deeply committed ...

September 16, 2024 5:52 PM

India’s food processing sector set to reach USD 535 billion by 2025-26

Anita Praveen, the Secretary of the Ministry of Food Processing, emphasised the importance of research and development (R&D) in propelling the Indian food processing sector to greater heights. Speaking at the FICCI Scientific Symposium on ‘Processed Foods for Purpose,’ Praveen highlighted t...

April 5, 2024 10:43 PM

German coalition agrees financing details of hydrogen network

Germany's ruling coalition on Friday agreed a financing mechanism for the country's future hydrogen network, extending a deadline for it to be built by five years to 2037 and offering protection for investors in case of bankruptcy. Many countries are betting on hydrogen, which can be used in part t...