Business News - Page 18

Russian eyes ruble-rupee trade mechanism but Indian banks 'over cautious'

Russia has been making efforts to establish a direct trade payments system with India in rupee and ruble

$100 bn trade deal sees Swiss firm turn businesses to India long geared towards China

The trade and economic partnership (TEPA), in March, signed a deal with European Free Trade Association, whose biggest member is Switzerland and others include Norway, Iceland and Liechtenstein, to invest $100 billion in India and to benefit from easier and cheaper access to the Indian market of 1.4 billion people

Cash-strapped Boeing's new CEO considering pawning off space division, exiting Nasa deals

Boeing has long been a contractor for the National Aeronautics and Space Administration (Nasa), but its space program has faced recent setbacks

Rs 10 lakh crore wiped out at Sensex, Nifty bulls have worst Diwali in 10 years

The Sensex on Friday dropped over 900 points during the day’s trade, while Nifty traded below 24,100 mark. The sharp decline resulted in Rs 9.8 lakh crore fall in the market capitalisation of all listed companies on BSE

‘When I met Modiji 6 years ago, I was surprised when he asked me to…’: Nvidia CEO Jensen Huang

Speaking at the Nvidia AI Summit in Mumbai, company CEO Jensen Huang was all praise for Indian Prime Minister Narendra Modi, identifying him one of the early politicians to realise the potential of this evolving technology.

The rise of the global Indian traveller and investor

Indians spent $3.2 billion overseas in August 2024, with the maximum chunk directed towards travel, overseas education, and family maintenance. Also, a recent data by RBI showed money put in by Overseas Indians in NRI deposit schemes doubled to $7.82 billion between April and August, 2024

Red lines to white lists: Will China find a way out of the real estate crisis it created?

The surge in home sales after Beijing’s stimulus measures has reignited optimism, but the future of China’s housing market still hinges on deeper structural reforms

Moneycontrol Pro surpasses 1 million paying subscribers, India’s largest news subscription platform now among top 15 globally

Moneycontrol Pro has surpassed one million paying subscribers, solidifying its position as India’s largest media subscription product and among the top 15 globally

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades

"In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted" the IMF said in the World Economic Outlook

Hyundai Motor India debuts in D-Street, with Rs 1.59 lakh crore m-cap becomes India's 5th most valued automaker

Hyundai Motor India stocks debuted on the exchanges with a market capitalisation surpassing Rs 1.59 lakh crore, becoming India’s fifth most valuable automaker in India

Taxable incomes over Rs 1 crore surge fivefold in India: Report

The number of individuals reporting taxable incomes over Rs 1 crore has skyrocketed, jumping fivefold from 44,078 in the assessment year (AY) 2013-14 to nearly 2.3 lakh in AY 2023-24, according to a report, attributing the increase to rising incomes and improved tax compliance

India’s political stability drawing American buyers to its apparel, fashion sector

According to a US trade panel, the political stability in India has been attracting US buyers for sourcing apparel from the country. This comes amid growing concerns over the Bangladesh garment industry which has been witnessing recent disruptions after protests and abrupt change of power

China’s big move to achieve 5% growth target, two key rates cut to historic lows

The Chinese central bank has slashed two key interest rates to historic lows, in the latest move to boost sluggish spending and kickstart the world's second-largest economy

Why has Kotak Mahindra Bank decided to acquire Standard Chartered's $488 mn personal loan book?

The deal for Standard Chartered's $488 million personal loan book is expected to close within three months, pending regulatory and other approvals, Kotak said

At 4.6%, China’s Q3 growth weakest since early 2023 but slightly above estimate

China's economy expanded at a slower-than-expected rate of 4.6 per cent in the July-September quarter, weakest since early 2023

Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors

With shares set to begin trading on October 22, the focus will shift to how Hyundai performs on its market debut. While retail investors have been cautious, the heavy institutional interest suggests optimism about Hyundai’s long-term growth

China’s stimulus package fails to impress traders, markets in Shanghai and Hong Kong slip

The world's number-two economy has struggled to recover since lifting strict Covid controls at the end of 2022, battered by a debt crisis in the property sector and torpid consumer demand

India’s Gen Z spends $860 billion today, likely to hit $2 trillion mark by 2035: Report

India’s Gen Z, roughly 377 million in number, is reshaping consumer trends. Their preference for immersive visuals, “shopcialising,” and creator-led recommendations is contributing to their spending. Yet, only 15% of businesses are capitalizing on this potential

Are dates from Pakistan ending up duty-free in India via UAE?

The Indian government is investigating whether dry fruit is entering the country from a third country like Pakistan, meaning the UAE is flouting the rules of the Comprehensive Economic Partnership Agreement (CEPA) and Free Trade Agreement (FTA)

Boeing's strike costs soar: Planemaker aims to raise $25 billion to shield balance sheet

The new credit facility, which remains untapped, will provide “additional short-term access to liquidity as we navigate through a challenging environment,” Boeing noted

Hyundai Motor India IPO subscription bust: No smooth roads for Korean auto giant's public offering in India

As per NSE, till 04:24 pm Tuesday (October 15) Hyundai Motor India IPO received bids for 59,41,530 shares against the 9,97,69,810 shares on offer, translating to a subscription of just 0.06 times

RBI proposes RTGS for dollar, euro and pound to expedite cross-border payments, remittances

RBI Governor Shaktikanta Das has proposed the feasibility of expanding RTGS to settle transactions in major trade currencies such as US dollar, euro and pound sterling. He said it can be explored through bilateral or multilateral arrangements

Hyundai Motor India IPO opens tomorrow: 15 things to know before you subscribe for Rs 27,856 crore issue

Hyundai Motor India IPO will open for subscription in primary market on October 15. The public issue will remain open for bidding for all investor groups until October 17. If you are looking to subscribe for the public issue, here are key things you must know

China eyeing stronger long-term stimulus as deflationary pressures mount

In September, China saw an unexpected decline in consumer inflation, while deflation among producers intensified. This puts increased pressure on the government led by Xi Jinping to swiftly implement more stimulus measures to rejuvenate weak demand and stabilise economic activity

Shanghai stocks swing as China pledges fresh stimulus for ailing economy

Shanghai's stocks swung on Monday in response to China's pledge for a fresh stimulus to help the sluggish economy

US inflation shows signs of slowing as wholesale prices stabilise

The Labour Department reported that its producer price index — which tracks inflation before it hits consumers — didn’t move from August to September after rising 0.2% the month before. It rose 1.8% last month from a year earlier, down from a 1.9% year-over-year increase in August.

United Airlines plans largest expansion next year, to launch flights to 8 new destinations across 3 continents

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