Category: Business

Business

Walmart Foundation invests $39 million in farmer livelihood enhancement programme in India

October 14, 2023 admin

View of Walmart’s newly remodeled Supercenter, in Teterboro, New Jersey on June 7, 2023. File. | Photo Credit: Reuters Walmart Foundation said that, since 2018, through its market access programme it has invested over $39 million in India to reach 500 Farmer Producer Organizations/Farmer Producer Groups targeting 8,00,000 farmers, of which more than half are women. NGOs like PRADAN, ACCESS, Mercy Corps and Srijan…

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Watch | U.S. interest rates were likely left too low for too long: John Authers

October 14, 2023 admin

Watch | U.S. interest rates were likely left too low for too long: John Authers The US economy seems teetering on the brink of a recession, even though it has seen good news on the jobs front for quite a while now. Why do economists think the US is facing a gloomy future? And why…

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India maintains basmati rice floor price as grain-export curbs continue

October 14, 2023 admin

Image used for representation purpose only. FIle | Photo Credit: The Hindu India said on October 14 it will maintain the floor price for basmati rice exports until further notice, according to a government order, as the world’s biggest exporter continues to curb overseas shipments of the grain. India imposed a $1,200 per tonne minimum…

Business

No Restriction On Laptop Imports, We’re Only Monitoring: Commerce Secretary

October 14, 2023 admin

India will only monitor the inbound shipments of laptops and computers. (Representational) New Delhi: India will not impose the licensing requirement on imports of laptops and computers but will only monitor their inbound shipments, a top government official said. The remarks assume significance as the government in August announced that these products, including laptops, tablets…

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Violence in West Asia will not affect the India-Middle East-Europe-Economic Corridor, says Sitharaman

October 13, 2023 admin

Union Finance Minister Nirmala Sitharaman poses for a picture with European Central Bank President Christine Lagarde and Reserve Bank of India Governor Shaktikanta Das prior to the commencement of the 2nd session of the G20 Finance Ministers and Central Bank Governors meeting in Marrakech on Friday, Oct. 13, 2023. | Photo Credit: ANI The conflict…

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E-commerce portal in the wings to trade in ‘energy efficient’ goods

October 13, 2023 admin

The objective of this exercise would be to encourage consumers to opt for devices that were rated “five star and above”. | Photo Credit: M. Vedhan To encourage the adoption of energy efficient appliances, Energy Efficiency Services Limited (EESL), a joint venture of public sector undertakings (PSU) under the Ministry of Power, will set up…

Business

Goods exports dipped 2.6% in September, but a $4 billion upgrade to August tally lifts outlook

October 13, 2023 admin

Goods exports dipped 2.6% from last September to hit a three-month low of $34.47 billion. File image for representation. | Photo Credit: C.V. Subrahmanyam Even though goods exports declined for the seventh time in eight months in September, India’s weak foreign trade performance so far this year appeared to be turning around as per data…

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Risk of Indian banks’ unsecured retail loans turning sour is rising, UBS says

October 13, 2023 admin

UBS has turned “neutral” on the banking sector and sees a higher probability of regulatory tightening on unsecured loans. | Photo Credit: ADNAN ABIDI The risk of Indian banks’ unsecured retail loans turning sour is rising as lending to borrowers with overdue debt has increased, UBS said in a note. In recent months, lenders in…

Business

Forex reserves drop by $2.17 billion to $584.74 billion

October 13, 2023 admin

The country’s forex reserves dropped by a further $2.166 billion. File | Photo Credit: REUTERS The country’s forex reserves dropped by a further $2.166 billion to $584.742 billion for the week ended October 6, the RBI said on Friday. India’s forex kitty had gone down by $3.794 billion to $586.908 billion in the previous week….

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Rupee settles 2 paise lower at 83.26 against U.S. dollar

October 13, 2023 admin

Image used for representational purpose only. | Photo Credit: Reuters The rupee fell 2 paise to settle at 83.26 (provisional) against the U.S. dollar on surging crude oil prices overseas and a downward trend in the domestic equities. Forex traders said that positive macroeconomic data failed to rev up the local currency, which has been…

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