DDIndia Business: Economic Headlines & Updates

Business

May 29, 2024 6:03 PM

Indian equity market slumps for fourth consecutive session

The Indian equity market experienced its fourth consecutive day of losses on May 29. The Nifty ended at 22,704.70, down 183.50 points or 0.80 percent, while the Sensex dropped 667.55 points or 0.89 percent, closing at 74,502.90. The market ope...

May 29, 2024 4:20 PM

S&P upgrades India’s sovereign rating outlook to ‘positive’

S&P Global Ratings has raised the country's sovereign rating outlook to 'positive' from 'stable' while retaining the rating at 'BBB-'. The rating agency cited India's robust economic expansion as having a constructive impact on its credit metrics...

May 29, 2024 3:10 PM

Legal Frameworks Essential for Global Capital Movement, Says India’s Attorney General

At the India UAE Business Forum in Dubai, India's Attorney General R. Venkataramani emphasized the critical role of robust legal frameworks in facilitating global capital movement. The event highlighted India's legal reforms and their impact on attra...

May 29, 2024 12:22 PM

Paytm denies media report on stake sale to Adani Group, terms it “speculative”

Hours after a media report claimed that Adani Group Chairman Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in Paytm, the popular fintech company termed the report "speculative". Paytm informed stock exchanges in a ...

May 29, 2024 12:00 PM

IMF upgrades China’s 2024, 2025 GDP growth forecasts but warns of risks ahead

China's economy is set to grow 5% this year, after a "strong" first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6% expansion though it expects slower growth in the years ahead. The global lender's ...

May 29, 2024 11:47 AM

RBI unveils PRAVAAH portal, retail direct app, and fintech repository for enhanced public access

The Reserve Bank of India has launched three major initiatives - the PRAVAAH portal, the Retail Direct Mobile App and a FinTech Repository - aimed at enhancing public access to the central bank and facilitating regulatory approvals and transactions. ...

May 28, 2024 10:40 PM

Global equity index dips while yields fall; investors await inflation prints

A global equities index fell slightly on Tuesday while Treasury yields rose as investors awaited inflation data due later in the week for potential clues about the outlook for U.S. interest rates. U.S. Treasury yields turned positive after the l...

May 28, 2024 7:37 PM

Fitch Downgrades Bangladesh to ‘B+’; Outlook Stable

Fitch Ratings has downgraded Bangladesh's Long-Term Foreign-Currency Issuer Default Rating on Monday to 'B+' from 'BB-' owing to weakening of Bangladesh's external buffers. The country's forex reserves are down substantially due to continued forex in...

May 28, 2024 5:31 PM

Sensex sheds 220 pts, Nifty closes below 22,900

After reaching record highs in the previous session, Indian benchmark indices consolidated on May 28. At closing, the Sensex fell by 220.05 points (0.29%) to 75,170.45, and the Nifty dropped by 44.30 points (0.19%) to 22,888.15. The market start...

May 28, 2024 5:26 PM

India, France to begin negotiations for Rs 50,000-crore Rafale Marine jet deal

Contract negotiations between the governments of India and France for 26 Rafale Marine fighter jets, valued at Rs 50,000 crore, are scheduled to begin on May 30 with the arrival of a high-level French delegation in New Delhi. The French delegation w...