DDIndia Business: Economic Headlines & Updates

Business

June 19, 2024 5:33 PM

China eyes plan to connect Southeast Asian rail links

China said it was willing to study a plan to connect Malaysia's $10-billion East Coast Rail Link (ECRL) to other China-backed railway projects in Laos and Thailand, potentially expanding Beijing's Belt and Road initiative across Southeast Asia. Chin...

June 19, 2024 5:01 PM

India records all-time high sea food export in FY 24

India has achieved a record-breaking milestone in seafood exports during the financial year 2023-24, according to the Ministry of Commerce and Industry. The country exported a total of 17,81,602 metric tons (MT) of seafood, valued at Rs 60,523.89 cro...

June 19, 2024 3:49 PM

India on track to become 10-trillion dollar economy by FY32: Adani

Industrialist Gautam Adani on Wednesday said that India's cumulative infrastructure spending is projected to exceed $2.5 trillion by 2031. He highlighted that platforms to create several trillion-dollar market spaces are already in place in the count...

June 19, 2024 4:01 PM

US pushing Netherlands, Japan to restrict more chipmaking equipment to China, source says

A U.S. official was headed to Japan after meeting with the Dutch government in an effort to push allies to further crack down on China's ability to produce cutting-edge semiconductors, a person familiar with the matter told Reuters on Tuesday. Alan ...

June 19, 2024 11:17 AM

Nvidia eclipses Microsoft as world’s most valuable company

Nvidia became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate artificial intelligence technology. Shares of the chipmaker climbed 3.5% to $1...

June 19, 2024 11:06 AM

Sensex, Nifty open at record highs; realty stocks drag, banks shine

Indian stock markets opened at record highs on Wednesday. The BSE Sensex rose 242 points to 77,418, while the Nifty gained 71.90 points to 23,629.80. The Nifty bank indices opened at 50,607.90, up 167 points or 0.33 percent, and the Nifty Midcap 100...

June 19, 2024 9:46 AM

Asian stocks rise on tech rally, Fed rate cut wagers

Asian shares rose to their highest in three weeks on Wednesday, buoyed by a rally in tech stocks, while the dollar wobbled after soft U.S. retail sales data reinforced expectations of the Federal Reserve cutting rates later this year. MSCI's broades...

June 19, 2024 12:28 PM

PM Modi releases 17th installment of PM KISAN scheme worth more than Rs 20000 cr

In his first visit to Varanasi after being re-elected for a third consecutive term, Prime Minister Narendra Modi released the 17th installment of the PM-KISAN scheme on Tuesday, amounting to more than Rs 20,000 crores for around 9.26 crore beneficiar...

June 18, 2024 5:46 PM

Sensex, Nifty close at record highs

Indian markets closed at record highs on Tuesday, with both the Sensex and Nifty reaching new levels during the trading session. The Sensex peaked at a record 77,366.77, while the Nifty50 hit an all-time high of 23,579.05. The Nifty 50 closed up 0.3...

June 18, 2024 1:19 PM

India, US to initiate new cooperation in quantum tech, biomanufacturing

India and the US have agreed to initiate new cooperation in the field of quantum science and technology, as well as to develop a joint strategic framework for optimizing the biopharmaceutical supply chain. The two countries released on Monday a join...