DDIndia Business: Economic Headlines & Updates

Business

June 29, 2024 10:09 AM

India and USA extend agreement on equalisation levy until June 30

India and the United States have agreed to extend their transitional agreement on the Equalisation Levy until June 30. This decision comes after both countries initially joined 134 other members of the OECD/G20 Inclusive Framework in October 2021 to ...

June 28, 2024 10:45 PM

India’s coal production surges, import dependency declines

India, home to the world's fifth-largest coal reserves, has seen a significant boost in domestic coal production over the past decade, reducing its reliance on imports despite being the second-largest consumer of coal globally. Recent data reveals a...

June 28, 2024 5:32 PM

FATF recognises India’s efforts to combat money laundering, terrorist financing

India has achieved an "outstanding outcome" in the 2023-24 Mutual Evaluation by the Financial Action Task Force (FATF). The evaluation by FATF highlights India's effective measures to combat money laundering (ML) and terrorist financing (TF), incl...

June 28, 2024 5:14 PM

Sensex, Nifty end lower as financials weigh

Indian benchmark indices retreated on Friday after reaching historic highs the previous day. The BSE Sensex dropped by 210 points, or 0.27 percent, settling at 79,032.73, while the Nifty 50 ended 35 points, or 0.15 percent, lower at 24,010. The Bank...

June 28, 2024 4:46 PM

German businesses see India as a stable place to invest, says envoy Ackermann

German businesses view India as a highly "stable place" to invest, according to Germany's ambassador Philipp Ackermann, who expects increased German investment in India once the India-EU Free Trade Agreement addresses existing tax and tariff "impedim...

June 28, 2024 3:22 PM

Pakistan passes tax-laden budget ahead of talks on fresh IMF loan

Pakistan's parliament on Friday moved to pass the government's tax- heavy finance bill for the coming fiscal year ahead of more talks on a new IMF bailout as it seeks to avert a debt default for an economy growing at the slowest pace in South Asia. ...

June 28, 2024 1:06 PM

Asia shares set for five-month winning streak; yen slides

Asian stocks were on track for a fifth straight month of gains on Friday, bolstered by a growing view that cooling U.S. inflation could prompt the Federal Reserve to ease rates this year, while the yen tumbled to a 38-year low against the dollar. Fr...

June 28, 2024 11:54 AM

Bangladesh receives $1.15bn from IMF as part of $4.7bn loan package

Bangladesh received $1.15 billion from the International Monetary Fund (IMF) on Thursday, marking the third tranche of a $4.7 billion loan package. Besides the IMF funds, Bangladesh also received around $900 million from other sources including the I...

June 28, 2024 11:34 AM

Airtel hikes tariffs between 11-21 percent on different voice and data plans

Airtel has announced a price hike across all its pre-paid and post-paid. The change in tariff plans will go into effect from July 3rd across all circles and throughout India. The most affordable plan of Airtel will now cost Rs 199 for a validity of 2...

June 27, 2024 5:02 PM

Indian markets close at historic highs; Nifty surpasses 24000, Sensex crosses 79000

Indian markets continued their bull run on Thursday, with both benchmark indices, Nifty and Sensex, breaking records and reaching new highs. The Nifty surged by 0.74 percent, or 175 points, to close at 24,044, while the BSE Sensex gained 0.72 percen...