DDIndia Business: Economic Headlines & Updates

Business

June 13, 2024 5:13 PM

China urges EU to reverse ‘wrong practices’ on EV tariffs

Beijing on Thursday slammed EU tariffs on Chinese electric vehicles as protectionist behaviour and said it hoped the European bloc would correct its "wrong practices" and handle trade frictions through dialogue. The reaction from China and others em...

June 13, 2024 3:23 PM

Reliance’s Jio Platforms clears hurdle in bid to launch satellite internet in India

A joint venture between Reliance Industries' Jio Platforms and Luxembourg-based SES to provide gigabit fibre internet has won approval from the Indian space regulator to operate satellites there, a government executive said. The three approvals issu...

June 13, 2024 1:25 PM

AI-powered Apple overtakes Microsoft as world’s most valuable company

Apple once again became the world's most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence technology. Its shares jumped nearly 4% to a record $215.0...

June 13, 2024 12:24 PM

IMF approves second review of Sri Lanka’s $2.9 bln bailout, warns of economic risks

The International Monetary Fund (IMF) approved the second review of Sri Lanka's $2.9 billion bailout, but the global lender warned the economy remains vulnerable despite signs of recovery and urged Colombo to do more to restructure a hefty debt burde...

June 13, 2024 11:09 AM

Indian stock market hits fresh record highs

The Indian stock market surged to new record highs on Thursday, boosted by easing retail inflation in both India and the US, and expectations that the US Federal Reserve might cut interest rates soon. The Sensex gained 379.66 points, or 0.50%, t...

June 13, 2024 11:23 AM

Fed leaves rates unchanged, sees only one 2024 cut despite inflation progress

The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December as policymakers sketched out their view of an economy that remains virtually unchanged across its major dimensions for ye...

June 13, 2024 10:22 AM

Asia stocks rally, bond yields fall as investors assess Fed outlook

Asian equities rallied on Thursday (June 13) while bond yields slid, as investors weighed cooling U.S. inflation against a more hawkish posture by the Federal Reserve. Japan’s Nikkei share average climbed 0.79% to 39182.06 after the stock mark...

June 12, 2024 5:35 PM

Fed expected to hold rates steady, project fewer cuts in 2024

The Federal Reserve is expected to leave interest rates unchanged on Wednesday, with new economic projections from the U.S. central bank's policymakers likely to show fewer rate cuts this year and a delayed start to monetary policy easing. Fed offic...

June 12, 2024 4:48 PM

Nifty, Sensex continue upward trend; mid and small caps surge 1 per cent

Indian markets continued their bull run during Wednesday's session. The Nifty touched an all-time high of 23,441 points during the day. However, both indices closed with marginal gains due to profit booking by investors. The benchmark Nifty gained 5...

June 12, 2024 4:47 PM

Myanmar poverty deepens, economic growth stagnant, World Bank says

Poverty in Myanmar is more widespread than at any time in the last six years and growth in the conflict-torn nation is likely to remain at a measly 1% in the current fiscal year with little respite in sight, the World Bank said on Wednesday. Escalat...