New Delhi: Federal finance minister Nirmala Sitharaman asserted that the Indian economy is ‘doing much better’ compared to the situation prevailing in many developed nations. Replying to a short-duration debate on inflation in the Rajya Sabha during the ongoing Monsoon session, Sitharaman stressed that the fundamentals of the Indian economy are strong, and ‘nobody is...
Beijing/New York: China halted some trade with Taiwan in retaliation to the high-profile visit of US House Speaker Nancy Pelosi to the island. China’s General Administration of Customs said in a statement Wednesday that some fish and fruit imports were suspended due to excessive pesticide residue detected “multiple times” on products since last year, as...
Despite a challenging operating environment including supply constraints, strong foreign exchange headwinds and the impact of their business in Russia, Apple has once again registered a strong June quarter with a revenue record of $83.0 billion, up 2 per cent year over year, and quarterly earnings per diluted share of $1.20. Along with registering...
Reliance Brands Limited (RBL) has inked a long-term distribution agreement with Valentino to bring to India the most established Italian Maison de Couture. Through this long-term partnership, RBL will partner with Valentino to open its first boutique in Delhi, followed by a flagship store in Mumbai. The first store is due to open in 2022...
New Delhi: Indians lead immigrants in the US who founded more than half of America's startups valued at $1 billion or higher (unicorns), and four out of 10 immigrants who have founded multiple billion-dollar enterprises are from India, a new report has revealed. A report by the National Foundation for American Policy (NFAP) said that...
Washington: The International Monetary Fund (IMF) has slashed its annual growth projection for India by 0.8 percentage points to 7.4 per cent for 2022 and forecast "increasingly gloomy developments" for the global economy such as high inflation, downturn in China because of Covid and spillovers from the war in Ukraine. The fund cut its 2023...
New Delhi: Union finance minister Nirmala Sitharaman said the Reserve Bank of India (RBI) is in favor of banning cryptocurrencies because it is concerned about their destabilising effect on monetary and fiscal stability. “In view of the concerns expressed by RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a...
London: Amid rising prices for motor fuels and food, Britain's Consumer Prices Index (CPI) rose by 9.4 per cent in the 12 months to June, hitting a fresh 40-year high, official statistics showed. On a monthly basis, the country's CPI rose by 0.8 per cent in June 2022, compared with a rise of 0.5 percent...
Mumbai: Raising concerns over high imported inflation, the rupee fell below the psychological level of 80 to 80.05 against the US dollar intra-day amid tightening monetary conditions and risk-off sentiments as well as persistent outflows from domestic markets. Significant dollar demand from oil importers amid elevated crude oil prices and concerns about swelling trade deficit...
