Mumbai, July 25 (IANS) The Indian equity benchmarks posted strong weekly loss, over global inflation fears and higher crude prices.Nifty lost 2.33 per cent during the week and dipped 0.43 per cent on the last trading day to reach 23,767. At close, Sensex was down 331 points, or 0.43 per cent, at 76,059. It lost 2.68 per cent during the week.”Inflationary fears intensified as the escalation of the West Asia conflict and the blockade at the Red Sea helped crude to cross the $100 per barrel mark. M…
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Amaravati, July 17 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday urged the Union government to adopt policy measures to stabilise the prices of raw materials used in shrimp feed production, highlighting that the sharp increase in input costs is severely affecting aqua farmers and seafood exports.During a meeting with Union Finance Minister Nirmala Sitharaman at his official residence, the Chief Minister said the aquaculture sector provides livelihoods to lakhs of farmers, w…
New Delhi, July 7 (IANS) The manufacturing sector has helped curb a broader slowdown in economic momentum even as indicators weakened in April‑May, a report said on Tuesday.Manufacturing makes up nearly 20 per cent of GDP and has been remarkably resilient, led by exports and inventory build-up, the report from HSBC Global Investment Research said.This is because energy-market uncertainty prompted precautionary inventory build-up – a trend most visible in consumer goods. Meanwhile, lower US t…
New Delhi, June 26 (IANS) German auto giant Volkswagen Group is considering one of the most extensive restructuring exercises in its history, with Chief Executive Officer Oliver Blume reportedly weighing plans that could result in up to 100,000 job cuts, the closure of multiple factories in Germany, and a significant reduction in investment spending.According to a report by Manager Magazin, the proposed overhaul is awaiting approval from the company’s board and would involve a 15 per cent reduct…
Los Angeles, April 27 (IANS) Americans are feeling the strain as the cost of groceries, gasoline, and utilities continues to rise. Economists say a one-two punch of new US tariffs and a war-driven spike in global energy prices are pushing up everyday expenses and threatening to slow growth just as households had begun to regain some breathing room.”I feel betrayed,” Katie Peyrey, a 66-year-old struggling grandmother and caregiver from Burbank, California, told Xinhua news agency.She is a minimum…
New Delhi, Feb 19 (IANS) India’s recent interim trade agreement with the United States, which resulted in a reduction in US tariffs, is being increasingly seen worldwide as reflecting New Delhi’s strategic autonomy in taking decisions that are in national interest.“India’s response, which is seemingly rooted in a deliberate policy of strategic autonomy, reveals a pragmatic approach that prioritises national interest without surrender, as many pundits had suggested,” according to an art…
New Delhi, Feb 16 (IANS) India’s combined merchandise and services exports recorded a 13.16 per cent increase to $80.45 billion in January this year, compared with $71.09 billion in the same month of the previous year, data released by the Commerce Ministry on Monday showed.The country’s merchandise exports rose 0.6 per cent year-on-year to $36.56 billion in January, despite the global economic uncertainties, the data showed.Cumulative exports of both merchandise and services (April–January)…
Mumbai, Feb 15 (IANS) Foreign portfolio investors (FPIs) have made a strong comeback to Indian equity markets in early February, investing Rs 19,675 crore in the first fortnight of the month. The renewed interest comes after three straight months of heavy selling and is being supported by the US-India trade deal and easing global macroeconomic concerns.According to data from depositories, FPIs had pulled out large sums in the previous months.They withdrew Rs 35,962 crore in January, Rs 22,611 cr…
New Delhi, Feb 4 (IANS) The Lok Sabha was briefly adjourned five minutes after reconvening on Wednesday amid the constant ruckus created by the Opposition MPs. Speaker Om Birla urged the Opposition benches to let the Question House proceed; however, the MPs continued with their sloganeering. The House was subsequently adjourned till noon.Earlier in the day, Congress MP Manish Tewari submitted an adjournment motion notice in the Lok Sabha, seeking a discussion on the India-US trade agreement. Ind…
Vapi, Jan 23 (IANS) Industries in Gujarat’s Vapi district, which earn crores of rupees in foreign exchange through exports, are currently going through a difficult phase due to the Trump-led US administration’s tariffs on Indian products. In such a scenario, there are expectations that the Union Budget presented by the Central government this time will provide relief to the local industries in the state. In the coming days, the Central government will present the Union Budget on February 1 this …