Exclusive | India to approach Russia for concessions on sunflower oil imports
Russia imposed a sunflower oil export quota of 1.5 million tonnes and banned shipments of sunflower seeds till August 31. Now, Indian importers have informed the government that higher export duties by Moscow from June may further increase costs and cripple cargoes.
India, Italy agree to cooperate in areas of green hydrogen, biofuels, energy storage
In the discussions, the two foreign ministers agreed to explore partnerships in areas such as gas transportation, green hydrogen, biofuels and energy storage.
Fed says banks in good shape despite volatility, warns on prime broker risk
In its latest bank supervision report, the Fed offered an upbeat take on the strength of US banks, noting they continue to enjoy robust capital and liquidity levels, and asset quality improved in the second half of 2021
New Development Bank seeks to co-finance trade infrastructure projects with India Exim Bank
The Shanghai-headquartered NDB has requested India Exim Bank to identify priority projects, especially ones including technological aspects, on which both can partner. Any prospective partnership will be the first time that Indian export finance authorities work together with China, considered a global competitor in the space.
Dollar surges to two-decade high as investors seek refuge
Rising inflation that has caused the biggest jump in prices in 40 years has spurred the Federal Reserve to aggressively raise interest rates, which increases demand for U.S. dollars.
Exclusive | EPFO interest rate credit likely to happen earlier than previous years
Crediting an interest rate of 8.1% earlier will also benefit EPFO’s financial health as the outgo will be less during PF claim settlements.
Shortages, volatility in markets more acute; global economic recovery losing pace: RBI Guv
The standing deposit facility (SDF) has been revised to 4.15 percent and marginal standing facility (MSF) to 4.65 percent, RBI Governor Shaktikanta Das said, adding that the "CPI inflation print for April is also expected to be elevated".
Inflation to remain high in the near term, says RBI
India's benchmark 10-year bond yield rose to its highest in more than two weeks on Wednesday before the RBI statement
What will the Federal Reserve do at its meeting this week?
The central bank must make progress on four critical issues to regain credibility and stabilize the economy
US dollar's hideous strength threatens global growth
The US currency’s rapid rise will make it harder for other countries to curb inflation
US manufacturing activity slowest in more than 1.5 years as workers quit
The ISM's index of national factory activity fell to a reading of 55.4 last month, the lowest since a matching reading in September 2020, from 57.1 in March. The last time the index was lower was in July 2020
IRDAI panel suggests 'micro insurance' modules for low-income groups, small businesses
The objective of MI is to empower people to cope with and recover from common risks such as death of the breadwinner, paying for treatment of serious illnesses, reconstructing destroyed homes and businesses
Suman Bery takes charge as Niti Aayog vice-chairman
Bery has previously served as director-general (chief executive) of the National Council of Applied Economic Research (NCAER) and the global chief economist of Royal Dutch Shell
India's pharma exports rise to Rs 1.83 lakh crore in 2021-22
The current market size of the domestic pharmaceutical industry is around $50 billion. The share of pharmaceuticals and drugs in the global exports is 5.92 percent
Government notifies form for filing updated income tax returns
In the new form for filing updated I-T returns, taxpayers will have to give the exact reason for filing it along with the amount of income to be offered to tax
Jet fuel prices raised by 3.22% in 9th straight hikes this year
ATF prices are hiked by Rs 3,649.13 per kilolitre to Rs 1,16,851.46 (or, Rs 116.8 per litre) in Delhi, while in Mumbai it now costs Rs 1,15,617.24 per kl, Rs 1,21,430.48 in Kolkata, and Rs 1,20,728.03 in Chennai
Singapore says world could face recession in next two years
Singapore’s central bank said last week it expects global growth to moderate to 3.9 percent in 2022 from 5.4 percent last year as inflation reaches its fastest in 14 years
Powell takes lead in round of rate hikes around the world: Eco Week
In a week that’s likely to be marked by a global round of rate hikes, Fed officials are expected to raise their benchmark on Wednesday, and may also announce they’ll start letting the central bank’s bloated balance sheet start to shrink
Indian economy may take 12 years to recoup pandemic losses, estimates RBI
The perturbations from repeated waves of COVID-19 have come in the way of sustained recovery and the quarterly trends in GDP essentially followed the ebbs and flows of the pandemic
China factory activity dips to 2-year low as Beijing battles COVID outbreak
The official Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, clocked 47.4 in April - below the 50-point mark separating growth from contraction - as authorities said that a "decline in production and demand" has deepened
BSE chief wonders why Nobel prize should not be considered for PM Modi's food scheme for poor
The Nobel Peace Prize 2020 was awarded to United Nations World Food Programme (WFP) for offering food to 11.5 crore people which is only around 14 percent of India's 80 crore people who were provided with free rations during the pandemic, Chauhan said in Kolkata
Oil rides longest monthly winning streak since early 2018
With the war entering a third month, Germany has signaled that it wouldn’t oppose a European Union embargo on Russian oil, but expressed skepticism that it’s the most effective means of damaging President Vladimir Putin
Russia makes last-minute bond payment to avoid default
The amount of the payment was not disclosed, but earlier this month Russias finance ministry said it tried to make a $649 million payment due April 6 towards two bonds to an unnamed U.S. bank previously reported as JPMorgan Chase
US consumers shrug off high inflation, lean on savings to boost spending
Consumer spending, which accounts for more than two-thirds of US economic activity, surged 1.1 percent last month. Data for February was revised higher to show outlays advancing 0.6 percent instead of 0.2 percent as previously reported
