The US economy saw both good and bad news this week. Economic growth beat expectations and layoffs stayed low. At the same time, inflation continued to make daily life more expensive with consumers struggling with higher fuel prices, costlier electronics and rising mortgage rates.The latest figures showed inflation accelerating and consumer spending slowing, even as…
The Strait of Hormuz, world’s busiest oil chokepoint, was moving again. Now, it’s at risk of clogging up once more.Earlier this week, ship traffic through the passage surged to a three-month high, before slowing sharply on Friday after a fresh attack in the Gulf of Oman brought an international evacuation effort to a halt. MarineTraffic…
Vaishnaw said investments worth thousands of crores flowing into the Yamuna City region would help make Jewar the “Silicon Valley of North India”. Two electronics manufacturing projects involving a combined investment of about Rs 6,750 crore are expected to generate around 3,000 jobs and help transform Jewar into one of India’s leading electronics and semiconductor…
Iran’s annual inflation rate surged to 88.6% in June, the highest in recent months, as the Middle East war intensified pressure on an economy already struggling with sanctions and years of hyperinflation. Iran’s annual inflation rate surged to 88.6% in June, the highest in recent months, as the Middle East war intensified pressure on an…
Businesses shifting their principal place of business to a new GST jurisdiction will not have to restart pending tax proceedings, with the Central Board of Indirect Taxes and Customs (CBIC) clarifying that the new jurisdictional authority will take over and complete all ongoing cases from the stage at which they were left, reported PTI.The clarification…
Industrial profits rose 21.1% in May from a year earlier, easing from a 24.7% increase in April, according to data released by the National Bureau of Statistics (NBS) on Saturday. China’s industrial profit growth slowed for the first time in six months in May, signalling that stronger exports and higher factory-gate prices were not enough…
Kotak Mahindra Bank CEO Ashok Vaswani to step down after term ends; lender begins succession search Kotak Mahindra Bank on Saturday said its Managing Director and Chief Executive Officer Ashok Vaswani will not seek reappointment after his current term ends on December 31, 2026, citing personal reasons, prompting the private sector lender to begin the…
The AI investment boom is “generating tremendous valuations” for companies in US stock markets and countries such as South Korea, creating a wealth effect that could add to price pressures, Gourinchas said in an interview with Bloomberg News. Artificial intelligence (AI) could fuel inflation not only by pushing up the cost of semiconductors and technology…
GTRI has urged the Department for Promotion of Industry and Internal Trade (DPIIT) to issue detailed operational guidelines for the government’s newly notified quality certification mechanism, saying the success of the reform will depend on transparent implementation Trade policy think tank Global Trade Research Initiative (GTRI) has urged the Department for Promotion of Industry and…
India joined 34 other countries in backing a US-led initiative to build trusted and resilient supply chains for artificial intelligence (AI), signing the Joint Statement on AI Opportunity at the second Pax Silica Summit in Washington on Thursday. India joined 34 other countries in backing a US-led initiative to build trusted and resilient supply chains…
