DDIndia Business: Economic Headlines & Updates

Business

June 14, 2024 12:49 PM

India’s wholesale inflation rises from 1.26% to 2.61% in May, pushed by food, energy prices

Wholesale inflation in India, based on the Wholesale Price Index rose to 2.61 per cent in May versus 1.26 reported in April, official data from the Commerce Ministry showed on Friday. Thus, it remained in positive territory for the seventh month...

June 14, 2024 11:43 AM

Indian envoy, Japanese speaker discuss strengthening cooperation in education, B2B ties

Indian Ambassador to Japan Sibi George met with the Speaker of the Japanese House of Representatives, Fukushiro Nukaga, on Thursday to explore ways to deepen the India-Japan Special Strategic and Global Partnership. The two leaders discussed strengt...

June 14, 2024 11:10 AM

Stock indices remain firm in opening trade, hover around record highs

Indian stock indices opened higher Friday and hovered around lifetime highs, continuing their uptrend from the previous sessions, primarily due to a moderation in inflation in May - both in India and the United States. At the time of filing this rep...

June 14, 2024 9:33 AM

Asian stocks slide, yen wobbles ahead of BOJ verdict

Asian stocks fell on Friday as investors pondered the outlook for U.S. rates after the Federal Reserve tempered its rate-cut views even as inflation came in softer than expected, while the yen was shaky before the Bank of Japan's policy meeting. ...

June 13, 2024 9:36 PM

Nifty, Sensex touch new peaks in closing session

Domestic stock markets surged to record highs on Thursday, driven by favorable inflation data. The BSE Sensex and NSE Nifty soared to new peaks, reaching 77,145 and 23,481, respectively. Notably, the Nifty 50 closed 0.33 percent higher at 23,398.95, ...

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...