India’s August retail inflation stays below 4% for second consecutive month | The Express Tribune
NEW DELHI: India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation was at 3.65% in August, higher than the revised 3.60% in July and economists’ forecast of 3.5%. India’s […]
Pro-Palestine: India’s Maryan Apparel quits Israeli police uniform contract over Gaza war crimes
Israeli soldiers patrol Huwara in the occupied West Bank, on March 20, 2023. — AFP An Indian company has decided to end a long-standing agreement to produce uniforms for the Israeli police, telling AFP on Friday that it had done so after reaching a “moral decision” in light of the conflict in Gaza. Maryan Apparel […]
World rice price index soars after India’s export ban
Representational image of rice. — AFP/File The world rice price index of the United Nations food agency experienced a notable 2.8% rise in July, as compared to June, reaching the highest level recorded in almost 12 years. This hike in prices was mainly driven by excessive demand in key exporting countries and India’s decision to […]
India’s forex reserves top $600bn, rise to near 15-month high | The Express Tribune
MUMBAI: India’s foreign exchange reserves rose for a third straight week and stood at $609.02 billion as of July 14, the highest in nearly 15 months, the Reserve Bank of India’s (RBI) data showed on Friday. The reserves rose by $12.74 billion from the week earlier, the biggest gain in four months. Reserves had risen […]
FDA finds multiple faults at India’s second-largest drugmaker | The Express Tribune
Officials of the the US Food and Drug Administration (FDA) have detected numerous faults at a factory operated by Aurobindo Pharma Ltd., one of India’s largest pharmaceutical companies, Bloomberg reported. This comes as the FDA is scrutinising considerable shortcomings in India’s factories amidst a backlog of inspections due to the Covid-19 pandemic. According to an […]
‘India’s exports likely to touch $900 billion in 2023-2024’ | The Express Tribune
NEW DELHI: India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds, a top official of a grouping of exporters said. Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch […]
India’s push to regulate crypto gains IMF, US support at G20 | The Express Tribune
BENGALURU: A push by Group of 20 (G20) president India to regulate cryptocurrencies gained support from both the International Monetary Fund and the United States on Saturday as finance chiefs of the bloc wrap up two days of talks. India has said it wants a collective global effort to deal with problems posed by cryptocurrencies […]
Russia becomes India’s second biggest oil exporter | The Express Tribune
NEW DELHI: Russia rose to become India’s second biggest supplier of oil in May, pushing Saudi Arabia into third place but still behind Iraq which remains No. 1, data from trade sources showed. In May Indian refiners received about 819,000 barrels per day (bpd) Russian oil, the highest thus far in any month, compared to […]
India’s cyber security rules spark fears | The Express Tribune
NEW DELHI: Indian cyber security rules due to come into force later this month will create an “environment of fear rather than trust”, a body representing top tech companies has warned the government, calling for a one-year delay before the rules take effect. The Internet and Mobile Association of India (IAMAI), which represents firms including […]
India’s oil imports from US to rise | The Express Tribune
NEW DELHI: India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation, stretch […]