DDIndia Business: Economic Headlines & Updates

Business

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April 8, 2024 9:00 AM

Adani Green Energy to become one of the world’s largest renewable power company after its plant in Khavda

Adani Green Energy Limited is developing 30 GW renewable energy plant on barren land at Khavda in Kutch of Gujarat over area of 538 sq km after which the project would be the planet’s largest power plant. The area of project in Khavda is five time...

April 7, 2024 2:19 PM

India’s food processing sector set to reach USD 535 billion by 2025-26

Anita Praveen, the Secretary of the Ministry of Food Processing, emphasised the importance of research and development (R&D) in propelling the Indian food processing sector to greater heights. Speaking at the FICCI Scientific Symposium on 'Proce...

April 6, 2024 10:29 AM

Reserve Bank of India leads surge in gold reserves amid global central bank slowdown

The Reserve Bank of India (RBI) stood out with its continued accumulation of gold reserves. Weekly data from the RBI revealed a 6-tonne increase in gold holdings in February alone. This brings the total year-to-date buying by the RBI to over 13 to...

April 5, 2024 10:44 PM

German coalition agrees financing details of hydrogen network

Germany's ruling coalition on Friday agreed a financing mechanism for the country's future hydrogen network, extending a deadline for it to be built by five years to 2037 and offering protection for investors in case of bankruptcy. Many countrie...

April 5, 2024 5:44 PM

Commercial Bank International leads investment round in generative AI fintech

Commercial Bank International (CBI) has announced its investment in zypl.ai, a fintech startup pioneering the application of generative AI in lending. Commenting on zypl.ai, Ali Sultan Rakkad Al Amri, CEO of CBI, said, "Our partnership with zypl.ai,...

April 5, 2024 4:53 PM

Kolkata Port profit jumps 65 % in FY’24, records all-time high cargo handling

The Syama Prasad Mookerjee Port in Kolkata has reported a profit of Rs 501.73 crore for FY'24, marking a 65 per cent jump compared to the previous fiscal year. With a total cargo handling of 66.4 Million Metric Tonnes (MMT), the port set an all-time...

April 5, 2024 12:46 PM

RBI keeps repo rates unchanged at 6.5 percent for seventh consecutive time

The Reserve Bank of India's Monetary Policy Committee (MPC) on Friday kept the key repo rate unchanged at 6.5 per cent for the seventh consecutive meeting, as it focused on reigning in retail inflation that has stayed above its 4 per cent target. Th...

April 5, 2024 11:25 AM

Trade between India-Bangladesh through Mahdipur-Sonamasjid will remain suspended for a week

Trade between India and Bangladesh through Mahadipur-Sonamasjid land port will remain suspended for a week from April 8 on the occasion of the Eid-ul -Fitr and Pahela Baishakh. Pahela Baishakh is the first day of the Bengali calendar which is also ...

April 4, 2024 5:27 PM

Markets rally on Powell’s remarks; Commodities remain robust

Global shares rallied on Thursday as U.S. rate cuts remained on the table even if their timing was unclear, while the yen slid against everything except the dollar and gold was pinned near record highs. There was also action in industrial commoditie...

April 3, 2024 6:56 PM

India’s gems and jewellery sector shines amidst gold price surge

India shines brightly despite facing a whirlwind of events in 2023. With record-high gold prices, fluctuating diamond rates, and global tensions, the industry navigated through choppy waters while maintaining its dominance in exports. The latest Ind...