DDIndia Business: Economic Headlines & Updates

Business

January 17, 2024 5:53 PM

Aramco CEO foresees tighter oil markets amid Red Sea risks

The CEO of Saudi oil giant Aramco, Amin Nasser, has expressed concerns over potential disruptions in global oil markets due to prolonged attacks by the Houthis in the Red Sea. Nasser anticipates a shortage of tankers, leading to delays in supply as v...

January 17, 2024 3:29 PM

India levies 50% export duty on sugar-derivative molasses

The Indian government has imposed a 50% export duty on molasses due to the potential decrease in domestic sugar production this season. According to an official notification from the Ministry of Finance, the proposed export duty will take effect on J...

January 17, 2024 1:05 PM

World Economic Forum 2024: Telangana govt, Adani Portfolio ink MoUs worth over Rs 12,400 cr

In a major development at the World Economic Forum (WEF) 2024 in Davos, the Government of Telangana and the Adani Portfolio of Companies signed four Memorandums of Understanding (MoUs) totalling over Rs 12,400 crore. According to a media release by ...

January 17, 2024 9:53 AM

India poised to remain one of fastest-growing economies in world for next few years: Fitch

Fitch Ratings has said that India is poised to remain one of fastest-growing economies in the world in next few years. The rating agency has also affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB (minus)' with a stable o...

January 17, 2024 9:18 AM

PM Modi to inaugurate three major infrastructure projects worth over Rs 4,000 crore in Kerala

Prime Minister Narendra Modi will dedicate to the nation three major infrastructure projects worth over 4,000 crore rupees at a function to be held at the Wellingdon Island in Kochi, Kerala on 17 Jan 2024. With the commissioning of these projects, ...

January 16, 2024 11:51 AM

India’s December exports surge, led by strong performance in key sectors

India's merchandise exports showed positive momentum in December, registering a 0.96% increase to USD 38.45 billion, up from USD 38.08 billion in the corresponding period in 2022. The growth was driven by key sectors, with engineering goods leading ...

January 16, 2024 10:49 AM

India’s KABIL seals $24 million lithium exploration pact with Argentina

India's state-owned firm, Khanij Bidesh India Ltd (KABIL), sealed a lithium exploration agreement worth 2 billion rupees ($24 million) with an Argentinian state-run enterprise on Monday. The virtual signing ceremony, attended by Union Minister Pralha...

January 15, 2024 5:51 PM

Boeing opens its first distribution center in India

Global aerospace giant Boeing has opened its first distribution center in India, located in Khurja, Uttar Pradesh. Spanning 36,000 square feet, this parts warehouse aims to assist regional aviation customers in optimising fleet utilisation. Boeing...

January 15, 2024 4:01 PM

Finance Act 2023 amends section 87a, no tax liability for incomes up to Rs 7 lakh

The Ministry of Finance announced a major development in personal income tax benefits through a post on X, indicating the fulfilment of promises made in the Finance Act, 2023. As per the latest amendment to Section 87A of the Income-tax Act, 1961, in...

January 15, 2024 2:00 PM

Global leaders gather at Davos as World Economic Forum’s 54th annual meet kicks off

The 54th annual meeting of the World Economic Forum (WEF) has commenced in Davos, Switzerland, convening leaders from around the world. Themed "Rebuilding Trust," the meeting will run from January 15 to January 19. Over the next five days, discussio...