DDIndia Business: Economic Headlines & Updates

Business

May 20, 2024 12:41 PM

Global stocks, metals surge as rate cut expectations firm

Asian shares hit two-year highs while copper and gold struck records on Monday as investors wagered on interest rate cuts around the corner and China stepping up efforts to steady its ailing property sector. Brent crude futures rose to a one-week hi...

May 19, 2024 7:53 PM

FSSAI warns fruit traders against using of calcium carbide for ripening

The Food Safety and Standards Authority of India (FSSAI) has issued a stern reminder to fruit traders, handlers, and Food Business Operators (FBOs) managing ripening chambers to adhere strictly to the prohibition of using calcium carbide for artifici...

May 19, 2024 9:08 PM

Lok Sabha elections 2024: Stock market closed on May 20 for Mumbai polling day

The stock market will remain closed on Monday due to the Lok Sabha elections in Mumbai, with normal trading set to resume on Tuesday. The next holiday is scheduled for June 17, in observance of Bakrid. Stock exchanges on Saturday held a special trad...

May 19, 2024 7:51 PM

India’s foreign exchange reserves surged by $2.56 billion to $644.15 billion: RBI report

India’s foreign exchange reserves surged for the second straight week, by USD 2.561 billion to USD 644.151 billion in the week that ended on May 10, according to data shared by the Reserve Bank of India (RBI). This uptick follows a period of three...

May 18, 2024 4:38 PM

By 2027, we will overtake Germany & Japan, says Amitabh Kant at CII Annual Business Summit 2024

G20 India Sherpa Amitabh Kant has said that because India has carried huge amount of structural reforms, it has moved from fragile 5 to top 5 and has grown at about 8.4% in the last 3 quarters. “By 2027, we will overtake Germany & Japan. Analys...

May 17, 2024 9:14 PM

India’s exports grow in April despite global disruptions

India's trade deficit is facing limited immediate challenges from ongoing geopolitical uncertainties, although it remains a crucial area to monitor, according to a recent Crisil report on India's trade deficit. Despite these potential disruptions, th...

May 17, 2024 7:59 PM

UN boosts India’s 2024 growth forecast citing strong investment, consumption

The United Nations upwardly raised India's economic growth projections for 2024 from 6.2 per cent to 6.9 per cent mainly driven by strong public investment and resilient private consumption, joining IMF that recently upped the country's growth foreca...

May 17, 2024 4:39 PM

With clean balance-sheet Indian banking sector has enough opportunity for growth: K V Kamath

India's banking sector is ready and fit to support the country's growth in the coming years, K V Kamath, Chairman of the National Bank for Financing Infrastructure & Development, said in an interview with ANI. Kamath said that after the governme...

May 17, 2024 3:26 PM

Global stocks drift, China unveils ‘historic’ steps for property

Global stocks eased on Friday after Federal Reserve officials hinted U.S. interest rates may not fall any time soon, while commodities rallied on the back of optimism over a series of measures in China to stabilise its beleaguered property sector. D...

May 17, 2024 2:43 PM

China unveils ‘historic’ steps to stabilise crisis-hit property sector

China on Friday announced "historic" steps to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. Investors hoped the measures marked the be...