Business

India can attract annual FDI of $120-$160 billion


New Delhi: India has the potential to attract an annual FDI in the range of $120-$160 billion by 2025, Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said. Speaking at the second edition of the CII National Conference on MNCs, 2021 via video link, he said: "We have...

China overtakes US to grab top spot as richest nation


Washington: Global wealth tripled over the last two decades, with China leading the way and overtaking the US for the top spot worldwide. That’s one of the takeaways from a new report by the research arm of consultants McKinsey & Co. that examines the national balance sheets of ten countries representing more than 60% of...

American Airlines inaugurates New York–Delhi Flight, a first since 2012


New York: American Airlines started a direct flight from New York to Delhi after a gap of more than nine years. On November 12, the carrier officially inaugurated nonstop service between New York’s John F. Kennedy International Airport (JFK) and Indira Gandhi International Airport, New Delhi with a Boeing 777-ER. The aircraft is one of...

India’s Falguni Nayar joins ‘world’s richest’ club


Falguni Nayar, CEO and founder of Indian beauty e-commerce chain Nykaa, recently became the richest self-made woman billionaire after the stocks of her company received stellar response at the Dalal Street when it got listed at the markets. According to an AFP report, Nayar is now among one of the world’s wealthiest, which was backed by Nykaa’s recent initial...

India-US defense expo focuses on space, AI cooperation


New York: Indian and US defense officials and business people have focused on partnering in space and Artificial Intelligence (AI) at a virtual expo, according to the US Department of Defense (DoD). The Second Defense Technology and Trade Initiative Industry Collaboration Forum (DICF) Virtual Expo held on Monday "focused on securing supply chains in critical...

Crypto market cap hits $3 trillion mark for 1st time


New Delhi: The global cryptocurrency market has hit the $3 trillion mark for the first time, taking Bitcoin and Ethereum values to an all-time high. Bitcoin and Ether created a new all-time high of $68,641.57 and $4,857.25. Despite uncertainties and high volatility surrounding it, Bitcoin may touch the $100,000 mark by the end of this year....

US Fed Vice Chair signals possibility of rate hikes


Washington: US Federal Reserve Vice Chair Richard Clarida said that the economic conditions, necessary for the central bank to raise interest rates, could be met by the end of 2022. At a virtual event hosted by the Brookings Institution, Clarida said that by the end of 2022, the US labor market will have reached its...

Lahore declared most polluted city in the world


New Delhi: Lahore has been declared the most polluted city in the world, leaving its traditional rival New Delhi far behind, Dawn reported.   The official Air Quality Index (AQI) of Lahore was reported at 289 (as per the average between 9 a.m. and 5 p.m.) and international monitoring bodies put the score at 397 this...

Ghani pledged to fight till death but fled: Blinken


New Delhi: US Secretary of State Antony Blinken said that former Afghan President Ashraf Ghani promised to fight till death but fled Kabul when the Taliban came and captured the capital city, Dawn reported. In a CBS News interview, Blinken was asked if he had personally tried to persuade Ghani to stay in Kabul. The Secretary...