DDIndia Business: Economic Headlines & Updates

Business

May 3, 2024 11:03 AM

South Korea to slap fines on food suppliers for ‘shrinkflation’

South Korea's antitrust regulator said on Friday food makers and suppliers will be required to notify shoppers if they reduce the size of their products or face fines of up to 10 million won ($7,300). The Fair Trade Commission (FTC) said it has desi...

May 2, 2024 11:35 PM

US STOCKS: Wall Street gains on Fed’s dovish signals

Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week. While Fed Chair Jerome Powell indicated that s...

May 2, 2024 11:09 PM

India and New Zealand hold 11th Joint Trade Committee meeting to strengthen trade relations

India and New Zealand concluded the 11th Joint Trade Committee (JTC) meeting in New Zealand on Thursday. Led by Commerce Secretary Sunil Barthwal, the Indian delegation engaged in fruitful discussions with key stakeholders, including New Zealand'...

May 2, 2024 9:22 PM

Indian markets gained after the U.S Fed kept rates unchanged

Indian benchmark indices closed with gain on Thursday after the US Federal Reserve kept the interest rates unchanged for the sixth straight time. The Nifty 50 index gained 43 points to close at 22,648 points while the BSE Sensex gained 128.33 points...

May 2, 2024 9:29 PM

RBI says 97.76% of Rs 2000 currency notes returned to banking system

The Reserve Bank of India (RBI) has issued an update regarding the withdrawal of Rs 2000 denomination banknotes from circulation. According to the RBI press release, the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore as...

May 2, 2024 5:46 PM

Sharjah Trade Mission Heads to India to Boost Economic Ties

The Sharjah Chamber of Commerce and Industry (SCCI) is leading a high-profile trade delegation to India as India and the UAE mark two years of the Comprehensive Economic Partnership Agreement. The delegation will visit India from May 5-10 to explore ...

May 2, 2024 5:48 PM

OECD upgrades global growth outlook as U.S. outperforms

The global economy is growing faster than expected only a few months ago thanks to resilient U.S. activity while inflation is converging more quickly than expected with central banks' targets, the OECD said on Thursday, upgrading its outlook. The gl...

May 2, 2024 4:14 PM

India’s manufacturing growth momentum continues, future looks bright: HSBC

India's manufacturing sector witnessed its second-fastest pace of improvement in three-and-a-half years in April, as per the latest HSBC PMI (Purchasing Manager's Index) data. The data indicates a surge in market demand driving this growth, with firm...

May 2, 2024 11:03 AM

Sensex, Nifty open marginally higher; Godrej shares rise after split in conglomerate

Indian stock indices maintained their upward trajectory on Thursday morning, rising marginally after witnessing mild losses in the previous session. The positive momentum could be attributed to the record Goods and Services Tax (GST) collection in Ap...

May 2, 2024 10:14 AM

Asia stocks wobble on rate cut delays; yen leaps

Asian stocks got off to a shaky start on Thursday (May 2) after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention. Japan's benchmark Nikkei average o...