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Economy

May 3, 2024 11:03 AM

South Korea to slap fines on food suppliers for ‘shrinkflation’

South Korea's antitrust regulator said on Friday food makers and suppliers will be required to notify shoppers if they reduce the size of their products or face fines of up to 10 million won ($7,300). The Fair Trade Commission (FTC) said it has desi...

May 2, 2024 11:09 PM

India and New Zealand hold 11th Joint Trade Committee meeting to strengthen trade relations

India and New Zealand concluded the 11th Joint Trade Committee (JTC) meeting in New Zealand on Thursday. Led by Commerce Secretary Sunil Barthwal, the Indian delegation engaged in fruitful discussions with key stakeholders, including New Zealand'...

May 2, 2024 9:22 PM

Indian markets gained after the U.S Fed kept rates unchanged

Indian benchmark indices closed with gain on Thursday after the US Federal Reserve kept the interest rates unchanged for the sixth straight time. The Nifty 50 index gained 43 points to close at 22,648 points while the BSE Sensex gained 128.33 points...

May 2, 2024 5:46 PM

Sharjah Trade Mission Heads to India to Boost Economic Ties

The Sharjah Chamber of Commerce and Industry (SCCI) is leading a high-profile trade delegation to India as India and the UAE mark two years of the Comprehensive Economic Partnership Agreement. The delegation will visit India from May 5-10 to explore ...

May 2, 2024 5:48 PM

OECD upgrades global growth outlook as U.S. outperforms

The global economy is growing faster than expected only a few months ago thanks to resilient U.S. activity while inflation is converging more quickly than expected with central banks' targets, the OECD said on Thursday, upgrading its outlook. The gl...

May 2, 2024 10:14 AM

Asia stocks wobble on rate cut delays; yen leaps

Asian stocks got off to a shaky start on Thursday (May 2) after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention. Japan's benchmark Nikkei average o...

May 2, 2024 10:11 AM

Fed leaves rates unchanged, flags ‘lack of further progress’ on inflation

The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in...

May 2, 2024 12:12 AM

US: Stocks rise after Fed leaves rates unchanged, cites lack of progress in inflation

Wall Street stocks wavered before trending higher on Wednesday as the U.S. Federal Reserve left its key interest rate unchanged, as expected, but indicated that the next move on rates will probably be a cut. The three major U.S. stock indexes were l...

May 1, 2024 4:33 PM

GST collection for April 2024 highest ever at Rs 2.1 lakh crore

Gross Goods and Services Tax (GST) collections surged to a record high of Rs 2.10 lakh crore in the month of April, registering a 12.4 per cent year-on-year growth. The Ministry of Finance attributed the rise in GST collection to a robust uptick in ...

May 1, 2024 11:37 AM

Foreign portfolio investors turn net sellers in Indian stocks in April

Foreign portfolio investors (FPIs) offloaded Indian stocks in April, following two consecutive months of being net buyers. The ongoing geopolitical crisis in the Middle East, coupled with the strength of US bond yields, likely pushed investors to wit...

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