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G20 summit: PM Narendra Modi welcomes world leaders at Bharat Mandapam Prime Minister Narendra Modi on Saturday welcomed all the participating dignitaries at the Bharat Mandapam, the main venue of the G20 leaders summit at Pragati Maidan. Modi stood in front of a giant image of the Konark wheel from Odisha's Sun Temple, while welcoming the leaders with warm handshakes. The Konark wheel was built during the 13th century under the reign of King Narasimhadeva-I. The wheel with 24 spokes is also adapted into India's national flag and embodies the country's ...
G20 summit: PM Narendra Modi welcomes world leaders at Bharat Mandapam
G20 summit: PM Narendra Modi welcomes world leaders at Bharat Mandapam
Source: IANS
9/09/2023 4:14:24 PM
Plastics exports from India drop 14.6% in July on lower demand: Plexconcil The Plastics Export Promotion Council (Plexconcil) has said plastics exports from the country declined 14.6 per cent to $956 million in July 2023 mainly due to decreasing demand in key export markets like the US and Europe. It said the overall exports during July 2022 stood at $1.119 billion.  It stated flexible Intermediate Bulk Containers (FIBC), plastic raw materials, packaging items, plastic films and sheets, and plastic writing instruments and stationery witnessed a major decline...
Plastics exports from India drop 14.6% in July on lower demand: Plexconcil
Plastics exports from India drop 14.6% in July on lower demand: Plexconcil
Source: Accord Fintech
29/08/2023 10:26:44 AM
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO As the world moves into the "cyber age" with the number of internet-connected devices zooming amid expanding use of artificial intelligence (AI), the mounting scale and expertise of cyber crime makes the concept of cyber security outmoded and it is necessary to move to "cyber immunity", said Kaspersky Labs CEO Eugene Kaspersky. "Which age we're living right now? Some people say that we are living in an age of plastic... there was the Stone Age, the Iron Age and...
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO
Source: IANS
29/08/2023 9:32:57 AM
Ongoing negotiations between India, UK on FTA progressing `extremely well`: Piyush Goyal Commerce and Industry Minister Piyush Goyal has said the ongoing negotiations between India and the UK on a free trade agreement (FTA) are progressing ‘extremely well’ and it is expected to conclude at an early date. Goyal said both sides are confident that they will come out with a very balanced, equitable and fair agreement in the interest of businesses and people of both the countries. Talking about the UK's demand on import duty concessions on auto, whiskey and dairy pr...
Ongoing negotiations between India, UK on FTA progressing `extremely well`: Piyush Goyal
Ongoing negotiations between India, UK on FTA progressing `extremely well`: Piyush Goyal
Source: Accord Fintech
25/08/2023 10:58:12 AM
Hopeful of finalising certain FTAs in next few months: Piyush Goyal Commerce and Industry Minister Piyush Goyal has said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union (EU). He stated ‘We can leverage the free trade agreements with the UAE and Australia and we are hopeful that in the next few months, we will finalise many ...
Hopeful of finalising certain FTAs in next few months: Piyush Goyal
Hopeful of finalising certain FTAs in next few months: Piyush Goyal
Source: Accord Fintech
31/07/2023 10:18:35 AM
India, UK could sign trade deal this year -commerce official India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. "We want to finalise the deal at the earliest," Sunil Barthwal, India's commerce secretary, told reporters on Friday. He said that on almost all contentious issues, negotiations were completed, and the deal could be signed "much before...
India, UK could sign trade deal this year -commerce official
India, UK could sign trade deal this year -commerce official
Source: Reuters
29/07/2023 9:47:17 AM
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC The Engineering Exports Promotion Council of India (EEPC) has said that India's engineering exports declined for the third straight month in June 2023, falling 11 per cent year-on-year to $8.53 billion. It stated that India's engineering exports to major markets like the United States, the European Union (EU) and China continued to decline in June 2023, reflecting a challenging global trade environment.  However, it said the country's shipments to West Asia and North Afric...
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC
Source: Accord Fintech
24/07/2023 10:15:29 AM
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in need of domestic battery production to help secure its future. The announcement marks Britain's biggest move in the car gigafactory space as it seeks to keep up with the United States and European Union in the race to develop green industries. Tata said on Wednesday it would build its first gigafactory outside of ...
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory
Source: Reuters
19/07/2023 7:33:42 PM
EU opens in-depth probe into Amazon`s $1.7 bn iRobot acquisition The European Union (EU) regulators have launched an in-depth probe into Amazon’s $1.7 billion acquisition of iRobot, the company which designs and builds consumer robots, including robot vacuum cleaners sold under the 'Roomba' brand. The European Commission said in a statement that it’s concerned that “the transaction would allow Amazon to restrict competition in the market for robot vacuum cleaners (RVCs) and to strengthen its position as online marketplace provi...
EU opens in-depth probe into Amazon`s $1.7 bn iRobot acquisition
EU opens in-depth probe into Amazon`s $1.7 bn iRobot acquisition
Source: IANS
7/07/2023 10:26:19 AM
India expects EU carbon tax to hit exports of steel, iron ore and cement Already facing subdued demand from developed nations, India's exports are likely to be hit by the European Union's 20% to 35% tariffs on high-carbon goods like steel, iron ore and cement, the finance ministry said in a report released on Thursday. In April, the EU approved the world's first plan to impose a levy on high-carbon goods imports from 2026, aiming to become a net zero emitter of greenhouse gases by 2050, some 20 years earlier than India's target. Reporting of ...
India expects EU carbon tax to hit exports of steel, iron ore and cement
India expects EU carbon tax to hit exports of steel, iron ore and cement
Source: Reuters
6/07/2023 11:23:07 AM
OpenAI CEO Sam Altman says ready to invest in South Korean startups The head of US artificial intelligence company OpenAI, Sam Altman, said he is ready to invest in promising startups in South Korea, where its global sensation chatbot ChatGPT has been rapidly and widely used. "We love to support people building on our platform. Some of our teams here today are happy to help with that," Sam Altman, CEO of OpenAI, said during a meeting with Korean businesspeople in Seoul. "We're exploring investing more in Korean startups. And we'd be ...
OpenAI CEO Sam Altman says ready to invest in South Korean startups
OpenAI CEO Sam Altman says ready to invest in South Korean startups
Source: IANS
10/06/2023 10:26:05 AM
Wind power once again Germany's most important electricity source Wind energy has once again replaced coal as Germany's most important source of electricity, according to preliminary figures published by the Federal Statistical Office (Destatis). Despite a slight decrease in electricity generation compared to the same quarter of last year, wind power reached a share of 32.2 per cent in Europe's largest economy in the first quarter of 2023, Xinhua news agency quoted Destatis as saying. "The clearly defined expansion targets, the clear prio...
Wind power once again Germany's most important electricity source
Wind power once again Germany's most important electricity source
Source: IANS
8/06/2023 12:39:37 PM
India's forex reserves at comfortable position to meet any requirements: Piyush Goyal Commerce and industry Minister Piyush Goyal has said that India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years. India's forex kitty jumped $3.553 billion to $599.529 billion for the week ended May 12, according to the Reserve Bank of India. The minister also said that the government efforts have helped in managing inflation and 'I am happy that it has been res...
India's forex reserves at comfortable position to meet any requirements: Piyush Goyal
India's forex reserves at comfortable position to meet any requirements: Piyush Goyal
Source: Accord Fintech
25/05/2023 11:08:19 AM
Public investment in agri-food systems up 22% in 2022: FAO report  Public investment in sustainable agriculture rose by more than a fifth last year, according to the 2022 Annual Review released by the UN Food and Agriculture Organisation (FAO) Investment Centre. The FAO Investment Centre monitors some 45 public investment projects in 32 countries, which it said were worth $8.8 billion in 2022. This was an increase of 22 per cent year-on-year, Xinhua news agency reported. The review said on Tuesday that the centre had made some important achieveme...
Public investment in agri-food systems up 22% in 2022: FAO report
Public investment in agri-food systems up 22% in 2022: FAO report
Source: IANS
24/05/2023 8:57:05 AM
India eyes nationwide use of 1% SAF by 2025 - oil minister India plans to mandate the use of 1% of sustainable aviation fuel (SAF) for domestic airlines by 2025, oil minister Hardeep Singh Puri said on Friday, in a bid to cut emissions from the sector. Unlike the United States and the European Union, India does not have policies governing sustainable aviation fuel yet. The European Commission SAF mandate is expected to start in 2025 with a minimum volume of SAF at 2%. Puri said for jet fuel mixed with 1% SAF, about 140 million litres of biofuel...
India eyes nationwide use of 1% SAF by 2025 - oil minister
India eyes nationwide use of 1% SAF by 2025 - oil minister
Source: Reuters
19/05/2023 12:28:00 PM
India`s economy likely to grow by 6.7% in 2024: United Nations United Nations (UN) in its latest report has said that India’s economy is expected to grow by 6.7 per cent in the calendar year 2024, supported by resilient domestic demand. It said inflation in India is expected to decelerate to 5.5 per cent in 2023 as global commodity prices moderate and slower currency depreciation reduces imported inflation. However, it said higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023. The report state...
India`s economy likely to grow by 6.7% in 2024: United Nations
India`s economy likely to grow by 6.7% in 2024: United Nations
Source: Accord Fintech
17/05/2023 12:31:20 PM
India plans to challenge EU carbon tax at WTO Indian plans to file a complaint to the World Trade Organisation over the European Union's proposal to impose 20% to 35% tariffs on imports of high-carbon goods like steel, iron ore and cement from India, top government and industry sources said. This is part of New Delhi's strategy to combat the EU's Carbon Border Adjustment Mechanism (CBAM) designed to push local industries to invest in new technologies to bring down carbon emissions, while also raising the issue in bilateral...
India plans to challenge EU carbon tax at WTO
India plans to challenge EU carbon tax at WTO
Source: Reuters
16/05/2023 2:57:30 PM
AEPC promotes sustainable manufacturing practices in garment clusters to boost exports With an aim to boost exports, the exporters body Apparel Export Promotion Council of India (AEPC) is promoting sustainable manufacturing practices such as usage of environment- friendly technologies to reduce carbon emission in different garment clusters of the country. A series of deliberations with all stakeholders, including brands, associations, and industry are being held by AEPC on the subject. Further, the exporters body is informing the industry about adopting sustainability practi...
AEPC promotes sustainable manufacturing practices in garment clusters to boost exports
AEPC promotes sustainable manufacturing practices in garment clusters to boost exports
Source: Accord Fintech
16/05/2023 11:23:13 AM
India`s carmakers back zero duty on limited British imports under trade deal Indian carmakers have agreed to eliminate import tax on a limited number of vehicles in a trade deal with Britain "if the need arises", according to a document seen by Reuters, offering better access to the world's third-largest automobile market. India currently levies 60% and 100% tax on car imports which will be reduced in a phased manner to 10% by year five but only for a maximum of 46,200 vehicles, according to a proposal made by the country's leading auto lobby grou...
India`s carmakers back zero duty on limited British imports under trade deal
India`s carmakers back zero duty on limited British imports under trade deal
Source: Reuters
15/05/2023 3:02:03 PM
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24 Amid robust domestic demand, comfortable profitability and strong balance sheets, credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has maintained a neutral outlook on the Indian chemicals sector for FY24. Besides, the rating agency maintained a Stable Rating Outlook on its rated chemical portfolio for FY24. According to the report, chemical sector is likely to witness single digit revenue growth in FY24 in view of a robust demand in domestic markets along with...
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24
Source: Accord Fintech
5/05/2023 12:54:40 PM
Ukraine, EU agree to extend preferential trade regime for one year Ukraine and the European Union (EU) have agreed to extend for one year their preferential trade regime, which is due to expire on June 5, Ukrainian Prime Minister Denys Shmyhal said. Ukraine and the EU reached agreements on extending the "economic visa-free regime" for another year. Ukrainian businesses will be able to continue selling their goods to the EU without any quotas, duties, or tariffs, Shmyhal wrote in a post on Telegram. The extension of the preferential trade rule...
Ukraine, EU agree to extend preferential trade regime for one year
Ukraine, EU agree to extend preferential trade regime for one year
Source: IANS
4/05/2023 9:13:44 AM
European Union adopts 2030 climate targets on carbon emissions European Union (EU) member states have adopted five new laws that will enable the bloc to cut greenhouse gas emissions within the main sectors of the economy, including maritime transport and the aviation industry. The legislation is part of the EU's main climate action package, called "Fit for 55", which aims to reduce greenhouse gas emissions by at least 55 per cent by 2030 compared to 1990 levels, reports Xinhua news agency. The vote in the Council of the EU is the fina...
European Union adopts 2030 climate targets on carbon emissions
European Union adopts 2030 climate targets on carbon emissions
Source: IANS
26/04/2023 11:26:24 AM
Oil prices rise on US crude, fuel stock draws Oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government's data release. Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel. U.S. crude oil stocks fell by about 6.1 million barrels in the week ended April 21, according to market sources citing American Petroleum Institute figures on Tuesday. Ana...
Oil prices rise on US crude, fuel stock draws
Oil prices rise on US crude, fuel stock draws
Source: Reuters
26/04/2023 8:47:52 AM
India to protect interests of farmers, dairy sector in free trade agreement with EU: Piyush Goyal Commerce and industry minister Piyush Goyal has said that India will completely protect the interests of farmers and dairy sector in the proposed free trade agreement (FTA) with the European Union. He said that Italy and France have offered unstinted support for the early conclusion of negotiations for the India-EU trade agreement. He stated the kind of business opportunities which India provides for EU businesses are huge and nobody can provide those in the world. Chief negotiators of Ind...
India to protect interests of farmers, dairy sector in free trade agreement with EU: Piyush Goyal
India to protect interests of farmers, dairy sector in free trade agreement with EU: Piyush Goyal
Source: Accord Fintech
17/04/2023 10:28:43 AM
India, Spain look forward to progress in India-EU FTA talks India and Spain are looking forward to considerable progress in the ongoing India-European Union (EU) free trade agreement (FTA) negotiations during the upcoming Spanish presidency of the EU from July to December this year. Both the nations have also agreed to further extend cooperation in sectors like civil aviation, automation, surveillance, high speed railways and related segments. These aspects came under discussion during the 12th session of the India-Spain joint commission for eco...
India, Spain look forward to progress in India-EU FTA talks
India, Spain look forward to progress in India-EU FTA talks
Source: IANS
15/04/2023 8:52:31 AM
'Different India' now capable of meeting security challenges: External Affairs Minister S. Jaishankar External Affairs Minister S. Jaishankar on Thursday said that forces troubling India for long are now aware that this is a "different India", which is capable of giving them a befitting reply and can combat the national security challenges. Addressing the Indian diaspora in Uganda, Jaishankar said that now people see the country in a new light, as it is willing to stand up and meet challenges posed to it like in Uri and Balakot. The External Affairs Minister, who is currently ...
'Different India' now capable of meeting security challenges: External Affairs Minister S. Jaishankar
'Different India' now capable of meeting security challenges: External Affairs Minister S. Jaishankar
Source: IANS
14/04/2023 10:35:32 AM
Ukraine aims to set up major European gas storage hub Ukraine's Energy Minister Herman Galushchenko has said that his country has prospects to set up a major European gas storage hub on its territory. "One of our key goals is the creation of a large energy hub in Ukraine, in particular, for the storage of gas by European states," Galushchenko was quoted as saying by the Energy Ministry's press service, Xinhua news agency reported. Ukraine has one of the largest underground gas storage facilities in Europe, capable of stor...
Ukraine aims to set up major European gas storage hub
Ukraine aims to set up major European gas storage hub
Source: IANS
8/04/2023 10:20:08 AM
Analysis-Western curbs on Russian oil products redraw global shipping map Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. As a result of the European Union ban on Russian fuel that started on Feb. 5, tankers carrying clean oil products such as gasoline, diesel, jet fuel and naphtha are travelling between 16 and 18 days to bring Russian supplies to Brazil or U.S. cargoes to Europe, a...
Analysis-Western curbs on Russian oil products redraw global shipping map
Analysis-Western curbs on Russian oil products redraw global shipping map
Source: IANS
6/04/2023 9:54:31 AM
European Union proposes reform of electricity market to stabilise prices The European Commission has adopted reforms aimed at boosting energy security and making consumer bills less dependent on volatile fossil fuel prices. The reforms come against the backdrop of skyrocketing energy prices in 2022, as the EU tried to move away from Russian fossil fuels in the context of the war in Ukraine. "We propose to expand the role of long-term instruments, introduce measures to boost the market for power purchase agreements, and enhance the flexibility of the ele...
European Union proposes reform of electricity market to stabilise prices
European Union proposes reform of electricity market to stabilise prices
Source: IANS
15/03/2023 10:09:58 AM
Russia-EU trade grows 2.3% in 2022 Trade turnover between Russia and the European Union grew 2.3 per cent in 2022, reaching its highest level since 2014, RIA Novosti reported citing data from the Eurostat. Exports of goods from Russia to the EU in 2022 increased by a quarter and reached 203.4 billion euros, 230 million less than the historical maximum in 2012 (203.6 billion euros). In the meantime, exports from the EU to Russia fell by about 38 per cent to 55.2 billion euros, the lowest since 2005. This did not affect the f...
Russia-EU trade grows 2.3% in 2022
Russia-EU trade grows 2.3% in 2022
Source: IANS
8/03/2023 11:05:25 AM
Eurozone inflation softens in February The eurozone's annual inflation rate is projected to fall to 8.5 per cent in February from 8.6 per cent in January, the European Union's (EU) statistical office said in a preliminary estimate. According to Eurostat, energy price rises slowed to 13.7 per cent last month from 18.9 per cent in January, reports Xinhua news agency. Food, tobacco and alcohol prices rose by 15 per cent year-on-year for February, compared to 14.1 per cent the previous month. Non-energy industrial goo...
Eurozone inflation softens in February
Eurozone inflation softens in February
Source: IANS
3/03/2023 9:57:24 AM
Dollar edges higher, set for 1st monthly gain since September The dollar ticked higher against major currencies in choppy trading on Tuesday, on track for its first monthly gain since September on views that interest rates will stay elevated for some time as inflation remains stubbornly high, while recession fears kept investors on edge. Recent upbeat data, such as a blockbuster employment report for January, helped the greenback rally in February on expectations that the Federal Reserve will have to raise interest rates higher and longer than the ma...
Dollar edges higher, set for 1st monthly gain since September
Dollar edges higher, set for 1st monthly gain since September
Source: Reuters
1/03/2023 8:57:30 AM
Wall Street sells shares, Treasuries to end fraught February  Wall Street indexes and global equities slid further on Tuesday, and bonds wrapped up a difficult month by holding their elevated yields, as more evidence of stubborn inflation added to expectations that central banks will keep rates high. The optimism that drove shares up and global bond yields down in January has ebbed this month, as data from around the world has pointed to economies and labour markets facing little in the way of strain from high inflation. The concern now is l...
Wall Street sells shares, Treasuries to end fraught February
Wall Street sells shares, Treasuries to end fraught February
Source: Reuters
1/03/2023 8:53:18 AM
UK, EU reach new post-Brexit deal for N. Ireland The UK and the European Union (EU) have concluded a new post-Brexit trade arrangement for Northern Ireland. The agreement - dubbed the 'Windsor Framework' - was struck over the Northern Ireland Protocol, aiming to ease the trading issues created by the Protocol. After months of negotiations, the deal was announced by UK Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen after their meeting in Windsor near London on Monday, Xinhua news agency report...
UK, EU reach new post-Brexit deal for N. Ireland
UK, EU reach new post-Brexit deal for N. Ireland
Source: IANS
28/02/2023 10:05:17 AM
Sterling holds gains after rising on UK trade deal with European Union  The pound held steady on Tuesday, retaining gains overnight after Britain struck a new trade deal with the European Union, which brightened the outlook for the post-Brexit UK economy and signalled improved relations between London and the bloc. The dollar was mostly flat in early trade but was on track to end higher for the month, ending a four-month losing streak. Britain and the EU on Monday announced a new deal for post-Brexit trading arrangements for Northern Ireland, known as...
Sterling holds gains after rising on UK trade deal with European Union
Sterling holds gains after rising on UK trade deal with European Union
Source: Reuters
28/02/2023 8:58:17 AM
Asian shares edge higher, dollar rally takes a breather Asian shares nudged higher on Tuesday, tracking small gains on Wall Street, while the U.S. dollar paused after a sharp rally as month-end flows lift sentiment and investors adjust to expectations of more interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.25% higher but was set to end the month down about 6%. Japan's Nikkei rose 0.44%, while Australia's S&P/ASX 200 index gained 0.51%. China shares was up 0.4% while Hong Kong's Hang S...
Asian shares edge higher, dollar rally takes a breather
Asian shares edge higher, dollar rally takes a breather
Source: Reuters
28/02/2023 8:44:44 AM
Microsoft signs binding, 10-year CoD deal with Nintendo ahead of EU hearing  Microsoft President Brad Smith on Tuesday announced that the tech giant has signed a binding, 10-year contract with Japanese gaming giant Nintendo to bring Xbox games including Call of Duty (CoD) to Nintendo's gamers. The announcement came ahead of a hearing in the European Union (EU) where Microsoft will argue its case with regulators to give its $69 billion acquisition of Call of Duty publisher Activision Blizzard a green signal. "We've now signed a binding 10-year ...
Microsoft signs binding, 10-year CoD deal with Nintendo ahead of EU hearing
Microsoft signs binding, 10-year CoD deal with Nintendo ahead of EU hearing
Source: IANS
21/02/2023 4:44:34 PM
Debt in focus as G20 finance chiefs meet in India  G20 finance and central bank chiefs meet in India next week at the first-year anniversary of Russia's invasion of Ukraine to discuss rising debt troubles among developing countries, the regulation of cryptocurrencies and the global slowdown. The Feb. 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of India's G20 presidency and will be followed by a March 1-2 meeting of foreign ministers in New Delhi. As global borrowing costs rise, I...
Debt in focus as G20 finance chiefs meet in India
Debt in focus as G20 finance chiefs meet in India
Source: Reuters
16/02/2023 9:03:55 AM
ICICI Bank signs MoU with BNP Paribas The MoU establishes a framework of partnership between the banks to meet the banking needs of corporate customers in India and Europe ICICI Bank, a leading private sector bank in India, and BNP Paribas, a top European bank, have signed a Memorandum of Understanding (MoU) to cater to the banking requirements of European corporates operating in India and Indian companies in the European Union. The MoU establishes a framework of partnership between the two banks for providing financial ser...
ICICI Bank signs MoU with BNP Paribas
ICICI Bank signs MoU with BNP Paribas
Source: PR Agency
15/02/2023 2:18:11 PM
Russia price caps spur India interest in naphtha, fuel oil, but not diesel More Indian firms are attracted to buying Russian naphtha as low-cost feedstock for their refineries and petrochemical plants after price caps imposed by Western nations, six refining sources said. Prices for refined products such as naphtha and fuel oil are capped at $45 a barrel by the Group of Seven nations, the European Union, and Australia in a scheme aimed at curbing Moscow funding its war against Ukraine. By comparison, Singapore naphtha traded at $80.03 a barrel on Tuesday on a ...
Russia price caps spur India interest in naphtha, fuel oil, but not diesel
Russia price caps spur India interest in naphtha, fuel oil, but not diesel
Source: Reuters
15/02/2023 11:36:06 AM
Netherlands escapes recession, posts slight Q4 2022 GDP growth The Dutch economy grew by 0.6 per cent in the fourth quarter (Q4) of 2022, narrowly escaping a recession feared in the final months of last year, Statistics Netherlands (CBS) said on Tuesday. Growth in Q4 was broad-based, with the trade balance and household consumption making the largest contribution. In Q3 of 2022, the economy shrank 0.2 percent and there were fears that the country would end up in a recession with another quarter of contraction, Xinhua news agency reported. Economic ...
Netherlands escapes recession, posts slight Q4 2022 GDP growth
Netherlands escapes recession, posts slight Q4 2022 GDP growth
Source: IANS
15/02/2023 11:04:42 AM
EU economy set to avoid recession but headwinds persist Both the European Union (EU) and the eurozone should narrowly avoid a technical recession, according to the European Commission's Winter 2023 Economic Forecast published on Monday. The growth outlook for 2023 is raised to 0.8 percent for the EU and 0.9 percent for the eurozone, according to the document, which was presented by European Commissioner for Economy Paolo Gentiloni. This is respectively 0.5 and 0.6 percentage points higher than in the Autumn Forecast, Xinhua news agency repo...
EU economy set to avoid recession but headwinds persist
EU economy set to avoid recession but headwinds persist
Source: IANS
14/02/2023 11:16:53 AM
EU competitiveness ministers discuss green transition, single market The green transition and reinforcing the EU single market were the focus of talks among EU competitiveness ministers in Stockholm. Declining economic performance, the Russia-Ukraine conflict, the energy crisis, rising inflation and climate change are all affecting businesses in the EU, said Johan Forssell, Swedish Minister for International Development Cooperation and Foreign Trade, on Tuesday. "It's therefore important to develop the single market and drive the green transitio...
EU competitiveness ministers discuss green transition, single market
EU competitiveness ministers discuss green transition, single market
Source: IANS
8/02/2023 12:39:30 PM
Global economy projected to grow 1.9% in 2023: UN report  World output growth is projected to decelerate from an estimated 3.0 per cent in 2022 to 1.9 per cent in 2023, marking one of the lowest growth rates in recent decades, according to a UN report. The UN World Economic Situation and Prospects 2023 report, launched on Wednesday, predicted global growth to moderately pick up to 2.7 per cent in 2024, as some macroeconomic headwinds are expected to begin to subside next year, Xinhua news agency reported. Amid high inflation, aggressive ...
Global economy projected to grow 1.9% in 2023: UN report
Global economy projected to grow 1.9% in 2023: UN report
Source: IANS
26/01/2023 9:36:24 AM
Oil settles mixed after hitting 7-week high on strong China outlook Oil prices settled mixed on Monday, retreating as investors cashed in on a jump to a seven-week high on optimism about a possible recovery in demand of top oil importer China as the economy recovers this year from pandemic lockdowns. Brent crude settled 56 cents higher at $88.19 a barrel. The session high was $89.09 a barrel, the highest since Dec. 1. U.S. West Texas Intermediate (WTI) crude settled 2 cents lower at $81.62 a barrel, off the session high $82.64 a barrel, the highest since D...
Oil settles mixed after hitting 7-week high on strong China outlook
Oil settles mixed after hitting 7-week high on strong China outlook
Source: Reuters
24/01/2023 9:12:33 AM
Oil prices fall but remain buoyed by China outlook  Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year. Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel. Last week Brent rose 2.8%, while the U.S. benchmark logged a 1.8% gain. Data...
Oil prices fall but remain buoyed by China outlook
Oil prices fall but remain buoyed by China outlook
Source: Reuters
23/01/2023 9:00:47 AM
Third of global economy will be in recession this year: IMF International Monetary Fund (IMF) chief Kristalina Georgieva has warned that a third of the global economy will be in recession this year and 2023 will be "tougher" than 2022 as the US, EU and China will see their economies slow. "We expect one third of the world economy to be in recession," the BBC quoted Georgieva as saying to CBS News on Sunday. "Even countries that are not in recession, it would feel like recession for hundreds of millions of people," s...
Third of global economy will be in recession this year: IMF
Third of global economy will be in recession this year: IMF
Source: IANS
2/01/2023 9:12:06 AM
At least two more free trade agreements to be signed in 2023: Union Commerce Minister Piyush Goyal Union Commerce Minister Piyush Goyal has said he expects at least two more free trade agreements (FTA) to be signed up in 2023. He said negotiations are scheduled with the UK, European Union and Canada. He added that his ministry does not have the bandwidth to tend to requests by smaller trading partners like New Zealand with which the bilateral trade stands at USD 350 million. Talking about the operationalisation of the India-Australia Economic Cooperation and Trade Agreement signed in Ap...
At least two more free trade agreements to be signed in 2023: Union Commerce Minister Piyush Goyal
At least two more free trade agreements to be signed in 2023: Union Commerce Minister Piyush Goyal
Source: Accord Fintech
30/12/2022 10:58:38 AM