DDIndia Business: Economic Headlines & Updates

Business

April 15, 2024 6:19 PM

World Bank sounds alarm on ‘historical reversal’ of development for poorest nations

Half of the world's 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank said in a report on Monday. The differential be...

April 15, 2024 4:23 PM

India sees marginal rise in wholesale inflation in March

Wholesale inflation in India, measured by the Wholesale Price Index, ticked upward in March, marking its fifth consecutive month in positive territory. This comes after seven months of residing in the negative zone until October. Official data relea...

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 ...

April 15, 2024 12:10 PM

Sensex, Nifty plummet as Middle East tensions send shockwaves across global equities

The Indian benchmark indices fell on Monday, mirroring the global concerns over the escalating tensions in the Middle East. At the opening bell, Sensex and Nifty witnessed significant declines, reflecting the apprehension among investors in the face...

April 14, 2024 1:15 PM

India’s foreign exchange reserves rise for seventh straight week; hit all-time high of $648 billion

India's foreign exchange reserves have soared to a record high of USD 648.562 billion, marking the seventh consecutive weekly increase, according to the latest data from the Reserve Bank of India (RBI). The surge was propelled by a USD 549 million r...

April 12, 2024 5:12 PM

Moody’s maintains stable outlook for India; revises real GDP growth projection to 8%

Rating agency Moody's maintained outlook for the government of India to be stable. The long-term and short-term ratings of the government of India is pegged at Baa3 and P-3, respectively. The stable outlook incorporates the likelihood that India's f...

April 12, 2024 12:22 PM

Seventh round of the India-Peru trade agreement negotiations concludes in New Delhi

The seventh round of negotiations for the India-Peru Trade Agreement took place in New Delhi, from April 8 to April 11. These discussions were aimed at understanding each other's priorities and concerns while ensuring mutual respect and benefits. Du...

April 11, 2024 1:28 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 merchand...

April 10, 2024 6:04 PM

Indo-Pacific Economic Framework for Prosperity to organise Clean Economy Investor Forum in Singapore

The Indo-Pacific Economic Framework for Prosperity (IPEF) is scheduled to host its first clean economy investor forum in Singapore on June 5-6, the department of commerce said on Tuesday. The department has invited applications from domestic climate...

April 10, 2024 12:10 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 Dece...