Uzbekistan wants to use Chabahar port to access Indian markets
A key central Asian market, Uzbekistan and India have an annual trade turnover of only $315 million as of 2021-22. But both nations have resolved to increase the bilateral trade to at least $1 billion over the next two years.
Exclusive | Govt may impose export controls on wheat by June
The sudden fall in wheat yields due to the heatwave across North India, and continuing bulk purchases by traders eyeing exports, have led to government procurement slowing down. If the situation persists, restrictions could become inevitable soon, say officials.
MC Exclusive: UGC to allow undergrads to do immersions with scientists, industrial R&D labs
An institutionalisation of research internship and immersions at under-graduation levels will play a key role in catalysing inter disciplinary research culture as envisaged in the new education policy, the UGC draft guidelines say. NEP 2020 has a provision that allows students to avail multiple entry and exit during a four-year degree course.
Elon Musk says Japan will one day disappear. That's a problem for investors
How can Japan’s prime minister attract investors to a country that the world’s richest man says will one day ‘cease to exist’?
Oil drops, pressured by economic worries, strong dollar
Brent crude was down $1.97, or 1.9 %, at $103.97 a barrel by 11:17 EDT (1517 GMT). U.S. West Texas Intermediate crude fell $1.90, or 1.8%, to $101.23 a barrel.
Commerce Ministers of UAE, Oman will lead trade delegations to India
The UAE is India's third-largest trade partner globally, after the United States and China. Meanwhile, bilateral trade with Oman has grown by 82 percent to reach $9.9 billion in 2021-2022.
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
