DDIndia Business: Economic Headlines & Updates

Business

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...

April 3, 2024 12:42 PM

World Bank projects India’s growth to reach 7.5% in FY 23-24

The World Bank has said that the Indian economy will grow by 7.5 percent in 2024, driving the growth momentum of the South Asian region, which is projected to achieve a robust growth rate of 6 percent in the same year. According to the report "Jobs ...

April 2, 2024 6:07 PM

Over 43.3 cr monthly digital transactions in India, says FM Nirmala Sitaraman

Finance Minister Nirmala Sitharaman on Tuesday praised India's robust digital infrastructure and widespread access, crediting it with positioning India as a leader in digital transactions. Speaking at the Viksit Bharat 2047 Ambassador Campus Dialogue...

April 2, 2024 3:14 PM

Ministry of Corporate Affairs reports record incorporations in fiscal year 2023-24

The Ministry of Corporate Affairs (MCA) has revealed that the fiscal year 2023-2024 witnessed the highest number of incorporations on record. In a post shared on X, the ministry stated, "MCA records the highest number of incorporations during 2023-2...