New Delhi, June 1 (IANS) India’s manufacturing PMI rose to 55.0 in May, above the readings of 54.7 in April and the flash figure of 54.3 due to quicker increases in buying levels, new orders and output compared to April, with stockpiling gaining strength as a result, the HSBC Flash India PMI data showed on Monday.May data showed that growth across India’s manufacturing industry came in stronger than the ‘flash’ estimates released around 10 days ago. Meanwhile, purchasing prices rose at the sec…
Latest HSBC News & Updates
New Delhi, May 26 (IANS) OpenAI CEO Sam Altman on Tuesday said the rapid rise of artificial intelligence is unlikely to trigger the kind of global jobs apocalypse that many feared, admitting that his earlier concerns about massive white-collar job losses may have been overstated.Speaking at a conference hosted by Commonwealth Bank of Australia in Sydney, Altman said he had initially expected AI to eliminate a far greater number of entry-level white-collar jobs after the launch of ChatGPT in 2022…
New Delhi, May 21 (IANS) Growth across India’s private sector economy saw a marginal contraction in May amid the geo-political tensions, with HSBC Flash India PMI Composite Output Index standing at 58.1, compared to 58.2 in April, which signalled another marked expansion in private sector activity, it was announced on Thursday.Underlying data showed that a pick-up in growth across the service economy was offset by a weaker increase in factory production.After retreating in April, input price inf…
New Delhi, May 12 (IANS) Indian IT stocks took a deep plunge on Tuesday, dragging the Nifty IT index down 3.73 per cent to its lowest level since May 2023 after OpenAI said it would launch a new company with $4 billion initial investment to help organisations build and deploy artificial intelligence.A weak earnings outlook for the sector from analysts also impacted the sentiments with Nifty IT index extending losses for a second session.It became the top sectoral loser on the National Stock Exch…
New Delhi, May 6 (IANS) India’s services sector activity strengthened in April, with the Purchasing Managers’ Index (PMI) rising to a five-month high of 58.8, because of robust domestic demand and increased business activity, the HSBC India Services PMI data showed on Wednesday.The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, which is the strongest pace of expansion since November.Moreover, new business inflows also grew at the f…
New Delhi, May 4 (IANS) India’s manufacturing PMI rose to 54.7 in April, up from 53.9 in March, as output, new orders (including exports) and employment all grew moderately, pointing to continued resilience in India’s manufacturing sector, the HSBC Flash India PMI data showed on Monday.April data showed mild recoveries in growth of new business intakes and production among Indian manufacturers, but rates of increase were still the second-weakest since 2022. Exports was a bright area, with fi…
New Delhi, April 23 (IANS) Private sector activity in India accelerated in April, supported by capacity expansion, better demand conditions, rising intakes of new work and tech investment, the HSBC ‘Flash India PMI Composite Output Index’ showed on Thursday.The seasonally-adjusted index, that measures the month-on-month change in the combined output of India’s manufacturing and service sectors – was up from a final reading of 57.0 in March to 58.3 in April.New orders rose at a quicker pace t…
New Delhi, April 14 (IANS) Around 100 per cent of Indian companies are planning to expand globally and are increasingly willing to take calculated risks despite rising geopolitical tensions, according to a new report.According to a survey conducted by HSBC, 98 per cent of Indian firms plan to increase cross-border trade and investment over the next five years which is the highest among all markets surveyed even as global uncertainty persists.Meanwhile, 94 per cent of Indian respondents said they…
New Delhi, April 9 (IANS) Entertainment conglomerate Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with a significant number of layoffs likely in its marketing division, according to a report.The Wall Street Journal said, citing sources, that the plans for the job cuts were initiated before Josh D’Amaro took over as the company’s chief executive officer in March.The layoffs are expected to impact less than 1 per cent of Disney’s total workforce. The company had aroun…
New Delhi, April 6 (IANS) India’s services sector continued to expand in March, supported by strong international orders and rising business confidence even as domestic new‑business growth eased, a report said on Monday.The HSBC India Services PMI report compiled by S&P Global said that India Services PMI or the headline figure remained above its long‑run average of 54.4.The seasonally adjusted HSBC India Services PMI Business Activity Index eased from 58.1 in February to 57.5 in March…