Page 15 - Economy

Iran no longer importing tea and basmati rice from India, says report

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Work demand under MGNREGS at 4-month high, FY23 funds almost exhausted

The budgetary allocation for MGNREGS has already been exhausted, if pending liabilities for the financial year are included

GeM closes in on Amazon, Flipkart in gross merchandise value

In FY22, govt's public procurement portal recorded a GMV of $14.2 bn, as against Amazon India's $17 bn and Flipkart's $23 bn

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

French GDP growth slows to 0.2% in Q3 after 0.5% rebound in Q2

France's GDP growth in the third quarter slowed down to 0.2 per cent in volume terms following a 0.5 per cent rebound in Q2

Investors want more of India as it improves infra: Goldman Sach's Sengupta

India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said

Sri Lanka inflation dips marginally to 61% in November from 66% in Oct

Sri Lanka's key inflation rate dipped marginally to 61 per cent in November, down from 66 per cent in October, the country's statistics office said on Wednesday, as the crisis-hit economy showed signs of recovery. The 12-month inflation by the Colombo Consumer Price Index peaked at 69.8 per cent in September and the National Consumer Price Index peaked at 73.8 per cent. The consumer price index in Colombo eased to 61 per cent in November, marginally down from 66 per cent reported in October, the Census and Statistics Department said. This is the second straight month that the key inflation rate has eased this year. Central Bank Governor Nandalal Weerasinghe on Wednesday said the dipping inflation rate after peaking to 70 per cent was a good indicator that the economy was trudging along the path of recovery. The Central Bank of Sri Lanka has raised borrowing costs by 950 basis points this year, taking the key rate to 15.5 per cent to tame rising prices. Colombo seeks to secure the

Climate for investment vitiated, appetite for investment poor: Congress

The Congress on Wednesday attacked the Centre over India's economy slowing down to 6.3 per cent in the July-September quarter of this fiscal, saying it is a pity that the government is helpless against external factors and in denial about internal factors. Senior Congress leader and former finance minister P Chidambaram alleged that the climate for investment is "vitiated" and the appetite for investment is "poor". India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, dragged down mainly by the poor performance of manufacturing and mining sectors, official data showed on Wednesday. However, India remained the fastest-growing major economy as China registered an economic growth of 3.9 per cent between July and September 2022. "As expected (except by the government), GDP growth rate in Q2 has come down from 13.5 per cent to 6.3 per cent. I am afraid it may be lower in Q3. There are both external factors and internal factors that have pulled

Act not enough; women vendors in Nagaland struggle for basic amenities

The Street Vendors Act, 2014 aims to protect livelihood rights and social security of street vendors but its implementation has been sluggish

GDP growth may have beaten MPC's estimate of 6.3% in Q2: Economists

Growth numbers for the second quarter of the current financial year are scheduled to be out today

Zimbabwe's monthly inflation declines to 1.8% in Nov from 3.2% in Oct

Zimbabwe's month-on-month inflation rate for November fell to 1.8 from 3.2 per cent of the previous month, the Zimbabwe National Statistics Agency said

India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'

UK India Business Council MD lists four "Ps" to explains why he is confident the deal will happen

Telangana HC slams 'mechanical way' of issuing GST show cause notice

Court says notice for cancelling registration should not be sent out in cavalier manner

RBI MPC blames global factors for high inflation in letter to Centre

The war in Ukraine and resultant spurts in energy and food costs, and supply disruptions caused by the pandemic are among main reasons cited by RBI for high inflation

Global funds may invest $25 bn a year in Indian infra, says Ambit Capital

Ambit Capital MD Rahul Mody cited investment infrastructure trusts, known as InvITs, as a type of vehicle that has attracted global funds

Bangladesh seen on track to be a $1 trillion economy by 2040: BCG report

With average annual growth of 6.4% between 2016 and 2021, the South Asian nation has outpaced peers such as India, Indonesia, Vietnam, the Philippines and Thailand

India should strive for win-win situation for all: Rajnath on Indo-Pacific

Singh said the Indo-Pacific region remains important for the economic development of not only the regional but also the wider global community

Wheat flour prices jump over 17% in one yr, now closer to sugar, rice: Rpt

The rise in wheat flour prices has come on the back of an increase in wheat prices as well

Delayed reopening may hit China's GDP growth rate by 1 point: Oxford report

If China pushes back its economic reopening to the first half of 2024, an anticipated recovery in private consumption will be delayed, says the report

Centre asks ministries, depts to identify new assets for monetisation

The report said the govt has been able to garner only Rs 33,443 crore in revenue from assets sale in the first 7 months