DDIndia Business: Economic Headlines & Updates

Business

June 8, 2024 3:11 PM

India’s stable policies continue to facilitate business environment: PM replied to Elon Musk

Prime Minister, Narendra Modi thanked Elon Musk, the CEO of Tesla and SpaceX for congratulating him on his electoral victory in the 2024 Lok Sabha elections. PM Modi replied to Musk in a post on social media platform X (formerly Twitter) saying...

June 7, 2024 7:13 PM

Pakistani PM Sharif meets China’s Xi in Beijing ahead of IMF talks

China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing on Friday (June 7), Chinese state media reported, days before Pakistan presents its annual budget and applies for a new International Monetary Fund (IMF) loan. Pakis...

June 7, 2024 5:02 PM

China strongly opposes U.S. arms sales to Taiwan, urges withdrawal

China is strongly opposed to U.S. arms sales to Taiwan and urges Washington to withdraw them immediately, the defence ministry said on Friday. The ministry said it had lodged a complaint to the United States over the matter. "(China's military) wil...

June 7, 2024 4:36 PM

Sensex, Nifty end at record highs, erasing election-day losses

Indian stock markets surged for the third consecutive session on Friday, ending at record levels and erasing losses suffered on election day when the BJP lost its majority in the lower house of Parliament, securing far fewer seats than exit polls had...

June 7, 2024 4:30 PM

Dubai Conclave Unveils Major Advancements in India-UAE Digital Payments

By: Vinod Kumar In an effort to enhance economic collaboration and facilitate seamless cross-border transactions, the Indian Business and Professional Council (IBPC) in Dubai, along with representatives from the National Payments Corporation of In...

June 7, 2024 12:22 PM

India third-largest gold buyer in May, after Switzerland and China: WGC

The global gold market experienced a turnaround in May, ending a 12-month slump for gold exchange-traded funds (ETFs) with a resurgence in inflows. This positive momentum was driven by strong demand in Europe and Asia, despite minor outflows in North...

June 7, 2024 11:21 AM

RBI keeps repo rate unchanged at 6.5%, ups FY25 GDP forecast to 7.2%

The Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 percent for the eighth consecutive time on Friday, aiming to bring inflation down to its medium-term target of 4%. The Monetary Policy Committee (MPC), in a majority decision with fo...

June 7, 2024 10:17 AM

Sensex, Nifty up ahead of RBI policy decision

The stock market kicked off the trading day on a positive note, witnessing a surge in both the Sensex and Nifty indices at the opening bell ahead of RBI monetary policy on Friday. The benchmark BSE Sensex opened higher by 81.57 points, reaching 75,1...

June 6, 2024 6:51 PM

Nifty, Sensex rebound as investors await govt formation

Indian markets continue to recover from the losses of election results day. The Nifty 50 index surged 201 points, or 0.89 percent, to 22,821.40, while the BSE Sensex climbed 692 points to 75,074, reflecting a 0.93 percent gain. In the sectoral indic...

June 6, 2024 5:33 PM

Moody’s bullish on India’s power sector growth amid investor concerns under Modi 3.0

Global rating agency Moody's has expressed strong confidence in the growth trajectory of India's power sector despite the weak mandate for Prime Minister Narendra Modi's BJP, which could hinder sectoral reforms. Moody's highlighted that investments ...