DDIndia Business: Economic Headlines & Updates

Business

June 20, 2024 2:55 PM

EU states approve 14th sanctions package against Russia, diplomats say

European Union countries approved a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including a ban on re-exports of Russian liquefied natural gas (LNG) in EU waters. Belgium, which holds the rotating EU...

June 20, 2024 11:18 AM

ESIC adds 16.47 lakh workers in April 2024: payroll data

The Employees' State Insurance Corporation (ESIC) has reported a significant increase in new employee registrations for April 2024, with 16.47 lakh new employees added to its rolls. Additionally, approximately 18,490 new establishments have been int...

June 19, 2024 11:36 PM

Cabinet approves MSP for 14 Kharif season crops, farmers to get Rs 35,000 crore more over previous season

The Union Cabinet on Wednesday approved an increase in the Minimum Support Price (MSP) for 14 Kharif crops, including paddy, ragi, bajra, jowar, maize, and cotton. The decision will have a financial implication of Rs 2 lakh crore for the government w...

June 19, 2024 11:21 PM

PM to visit Jammu and Kashmir on June 20-21 to inaugurate, lay foundation stone of development projects

Prime Minister Narendra Modi is set to embark on a two-day visit to Jammu and Kashmir on June 20 and 21, where he will inaugurate and lay the foundation stone for multiple development projects, as well as lead the celebrations for the 10th Internatio...

June 19, 2024 5:39 PM

India will see higher consumer spending as inflation moderates: Fitch

Fitch Ratings has said that India will see higher consumer spending as inflation moderates, resulting in elevated consumer confidence. The credit rating agency in its June report Global Economic Outlook (GEO) report said that expectations of a bette...

June 19, 2024 5:33 PM

China eyes plan to connect Southeast Asian rail links

China said it was willing to study a plan to connect Malaysia's $10-billion East Coast Rail Link (ECRL) to other China-backed railway projects in Laos and Thailand, potentially expanding Beijing's Belt and Road initiative across Southeast Asia. Chin...

June 19, 2024 5:01 PM

India records all-time high sea food export in FY 24

India has achieved a record-breaking milestone in seafood exports during the financial year 2023-24, according to the Ministry of Commerce and Industry. The country exported a total of 17,81,602 metric tons (MT) of seafood, valued at Rs 60,523.89 cro...

June 19, 2024 3:49 PM

India on track to become 10-trillion dollar economy by FY32: Adani

Industrialist Gautam Adani on Wednesday said that India's cumulative infrastructure spending is projected to exceed $2.5 trillion by 2031. He highlighted that platforms to create several trillion-dollar market spaces are already in place in the count...

June 19, 2024 4:01 PM

US pushing Netherlands, Japan to restrict more chipmaking equipment to China, source says

A U.S. official was headed to Japan after meeting with the Dutch government in an effort to push allies to further crack down on China's ability to produce cutting-edge semiconductors, a person familiar with the matter told Reuters on Tuesday. Alan ...

June 19, 2024 11:17 AM

Nvidia eclipses Microsoft as world’s most valuable company

Nvidia became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate artificial intelligence technology. Shares of the chipmaker climbed 3.5% to $1...