DDIndia Business: Economic Headlines & Updates

Business

September 27, 2023 10:23 AM

Gulf Nations Brace for Prolonged Period of Elevated Interest Rates Following Fed’s Lead

Economists are predicting that the United Arab Emirates (UAE) and other Gulf Cooperation Council (GCC) countries will endure an extended period of elevated interest rates, closely mirroring the actions of the United States Federal Reserve. Over the ...

September 26, 2023 12:47 PM

Jaishankar meets UAE counterpart Abdullah bin Zayed in New York

External Affairs Minister (EAM) S Jaishankar on Tuesday met his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan on the sidelines of the 78th United Nations General Assembly session in New York City. During this meeting, the two ministers lauded ...

September 26, 2023 11:23 AM

Monsoon starts retreating from India, rain deficit further narrows down

The India Meteorological Department (IMD) recently announced that the monsoon's retreat from India commenced on September 25, 2023, marking an eight-day delay from the usual withdrawal date of September 17. This marks the 13th consecutive year of a d...

September 22, 2023 9:58 AM

Middle East’s Premier ‘Free From Food’ event wraps up, leaving a mark on the F&B industry

The ‘Free From Food’ Dubai event, which took place on September 20th and 21st at Le Méridien, Dubai Hotel & Conference Centre, has drawn to a successful close. Organized by Expo Business Communications in partnership with the UAE Food & ...

September 20, 2023 2:31 PM

Widening social security umbrella: ESIC records remarkable growth in registrations

In a significant development, the Employees' State Insurance Corporation (ESIC) has reported a remarkable surge in enrollments and registrations under the ESI Scheme for the month of July 2023. These statistics not only underscore the increasing cove...

September 20, 2023 12:32 PM

CBDT extends deadline for ITR-7 and audit report filings for AY 2023-24

In a much-welcomed move by the Central Board of Direct Taxes (CBDT), the deadline for filing audit reports and Income Tax Return in Form ITR-7 for Assessment Year 2023-24 has been extended. This extension comes as a relief to taxpayers, particularly ...

September 19, 2023 3:56 PM

African Union to launch own credit ratings agency

The African Union plans to launch a new African credit rating agency next year in response to its concerns about what it views as unfair ratings given to African countries. The agency will generate its own evaluation of lending risks associated with...

September 18, 2023 2:59 PM

FOREX-Dollar hovers near six-month high before key central bank decisions

The US dollar is currently at a six-month high as traders anticipate interest rate decisions from the Federal Reserve, the Bank of England, and the Bank of Japan this week. The euro is roughly level against the dollar at $1.0658, while the Japanese y...

September 17, 2023 12:01 PM

Minister Goyal highlights importance of India – Middle East – Europe Economic Corridor for Spice Industry

On September 16, Union Minister Piyush Goyal highlighted the importance that the recently launched India-Middle East-Europe Economic Corridor brings to India’s spices industry. The Minister was addressing the 14th World Spice Congress being held at...

September 15, 2023 4:16 PM

President emphasizes holistic approach to transportation in meeting with Indian Railways Probationers

A group of 213 probationers from the Indian Railways, representing batches from 2019, 2020, and 2021, had the honour of meeting with the President of India, Droupadi Murmu, at the Rashtrapati Bhavan Cultural Centre on September 15, 2023. During this ...