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HSBC India and Taj launch exclusive Co-branded premium credit card for unmatched hospitality experiences HSBC India and Indian Hotels Company Ltd have come together to launch HSBC Taj Credit Card, India’s first premium co-branded hospitality credit card, crafted for luxury enthusiasts, that aims to deliver bespoke experiences and exceptional services for discerning customers. Launched in collaboration with Visa, the HSBC Taj metal co-branded credit card is specially curated for those who appreciate finer life experiences and services and are seeking unparalleled luxury and exclusive tra...
HSBC India and Taj launch exclusive Co-branded premium credit card for unmatched hospitality experiences
HSBC India and Taj launch exclusive Co-branded premium credit card for unmatched hospitality experiences
Source: PR Agency
2024-12-17 05:07:23 pm
India`s private sector growth surges to 4-month high in Dec India's private sector output growth strengthened to its highest level in four months during December, according to the latest HSBC 'flash' PMI data compiled by S&P Global.  The acceleration was reflected in both the manufacturing and service sectors, as companies across the two segments welcomed a faster upturn in new business intakes, the report said. Ines Lam, Economist at HSBC, said: "The rise in the headline manufacturing PMI in December was mainly driven ...
India`s private sector growth surges to 4-month high in Dec
India`s private sector growth surges to 4-month high in Dec
Source: IANS
2024-12-17 11:54:34 am
India`s business activity picks up in December: HSBC flash PMI India’s business activity picked up during December. The latest HSBC ‘flash’ PMI data compiled by S&P Global stated that the acceleration was reflected in both the manufacturing and service sectors, as companies across the two segments welcomed a faster upturn in new business intakes. Aggregate job creation climbed to a survey peak amid a faster increase in outstanding business volumes and optimistic expectations four output in 2025. Meanwhile, a moderation in cost press...
India`s business activity picks up in December: HSBC flash PMI
India`s business activity picks up in December: HSBC flash PMI
Source: Accord Fintech
2024-12-16 12:11:03 pm
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets HSBC and the World Bank's International Finance Corporation (IFC) will jointly provide funding to trade transactions valued at up to $1 billion, in a move to help fill a gap in financing for emerging market trade. IFC and HSBC said on Thursday they would equally share the risk on a portfolio of trade-related assets held by emerging-market banks in 20 countries in Africa, Asia, Latin America, and the Middle East, according to a joint statement. The deal aims to support cross-border t...
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets
Source: Reuters
2024-12-12 09:11:57 am
India to see mega residential launches in Q1 2025, focus to shift to mid-income housing: HSBC  India is set to witness mega residential project launches in the first quarter of 2025 after a strong ‘upgrade’ demand in the premium segment, and developers will need to pivot towards more mid-income housing as luxury housing hits a high base, a report by HSBC Global Research showed on Wednesday.  The past four years have been dominated by “upgrade” demand, serving developers well to achieve better pricing. “We think another notable preference f...
India to see mega residential launches in Q1 2025, focus to shift to mid-income housing: HSBC
India to see mega residential launches in Q1 2025, focus to shift to mid-income housing: HSBC
Source: IANS
2024-12-11 05:43:27 pm
Indian pharma companies set to make further progress in US market in 2025: HSBC Indian pharmaceutical companies, which benefited from sector tailwinds such as stable generic pricing and shortage-led opportunities and stable costs of raw materials in the past 18-24 months, will make further progress in differentiated and complex generics in the US market in 2025, a report showed on Wednesday. According to a note by HSBC Global Research, these tailwinds are projected to continue in 2025 as well given that “we don’t see major changes on the demand-supply dyna...
Indian pharma companies set to make further progress in US market in 2025: HSBC
Indian pharma companies set to make further progress in US market in 2025: HSBC
Source: IANS
2024-12-11 04:39:14 pm
India to be key market for global oil & gas as China slows: HSBC  India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday.   The report states that global oil prices are likely to remain weak. This would benefit India as the country imports over 80 per cent of its crude oil requirement and any decline in global oil prices leads to a huge saving in the import bill....
India to be key market for global oil & gas as China slows: HSBC
India to be key market for global oil & gas as China slows: HSBC
Source: IANS
2024-12-10 03:06:37 pm
Indian IT services industry to pick up to 6-7 pc in FY26: HSBC Research  The Indian IT services industry is expected to pick up to 6-7 per cent in FY26, from 3-4 per cent in the past two years, led by a recovery in the US market, HSBC Research said on Monday.  Tech adoption of generative AI (GenAI) has been faster in 2024 compared to business GenAI. “We expect business GenAI projects to pick up by next year. Finally, global capability centres (GCCs) continue to grow and take market share from Indian IT, but these gains are moderating,”...
Indian IT services industry to pick up to 6-7 pc in FY26: HSBC Research
Indian IT services industry to pick up to 6-7 pc in FY26: HSBC Research
Source: IANS
2024-12-09 05:05:47 pm
India`s services sector growth eases to 58.4 in November India’s services sector growth eased in the month of November, impacted by slowdown in new orders and output along with prices pressures. Input costs rose to the greatest extent in 15 months, while selling prices increased at the fastest rate in close to 12 years. Besides, total sales increased at a softer pace than in October, but the respective seasonally adjusted index was nevertheless more than four points above its long-run average and consistent with robust growth. According to...
India`s services sector growth eases to 58.4 in November
India`s services sector growth eases to 58.4 in November
Source: Accord Fintech
2024-12-04 02:14:20 pm
India`s services sector saw strong growth in November, PMI shows Growth in India's dominant services sector remained strong in November despite the steepest rise in prices for over a decade, while consistent demand led to a significant rise in business sentiment and record hiring, a business survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, stayed almost unchanged at 58.4 in November from 58.5 in October, but was lower than a preliminary estimate of 59.2. A sub-index measuring new business - ...
India`s services sector saw strong growth in November, PMI shows
India`s services sector saw strong growth in November, PMI shows
Source: Reuters
2024-12-04 11:43:24 am
Pace of India`s manufacturing growth remains above its long-run average: HSBC  The pace of India’s manufacturing growth remains above its long-run average and there was substantial improvement in the health of the sector during November, the HSBC India Manufacturing PMI data showed on Monday.  India recorded a 56.5 manufacturing PMI in November, down slightly from the prior month, but still firmly within expansionary territory. "Strong broad-based international demand, evidenced by a four-month high in new export orders, fuelled the Indian ma...
Pace of India`s manufacturing growth remains above its long-run average: HSBC
Pace of India`s manufacturing growth remains above its long-run average: HSBC
Source: IANS
2024-12-03 08:48:27 am
India factory growth softened in November on high inflationary pressures, PMI shows India's factory growth cooled in November yet maintained a strong pace, leading to significantly improved optimism despite demand easing a bit due to higher price pressures, a business survey found. Asia's third-largest economy expanded a lacklustre 5.4% in the July-September quarter, official data showed on Friday, led by tepid growth in manufacturing and consumption. The rate was much lower than the 6.5% expected in a Reuters poll. The HSBC final India manufacturing Purchasing...
India factory growth softened in November on high inflationary pressures, PMI shows
India factory growth softened in November on high inflationary pressures, PMI shows
Source: Reuters
2024-12-02 10:48:53 am
India`s business activity picks up momentum in October: HSBC Flash PMI The latest HSBC ‘flash’ PMI survey compiled by S&P Global has showed that surging new business and export sales boosted output growth across India's private sector economy in the month of November. Rising capacity pressures, evidenced by increasing backlogs, prompted companies to ramp up hiring efforts, which was supported by an overall improvement in business activity expectations. However, this strengthening of operating conditions came amid intensifying cost pressures a...
India`s business activity picks up momentum in October: HSBC Flash PMI
India`s business activity picks up momentum in October: HSBC Flash PMI
Source: Accord Fintech
2024-11-24 05:22:21 pm
India`s business activity surges to 3-month high in November India's business activity surged to a three-month high in November, driven by robust growth in the services sector and record job creation, according to the HSBC survey for the month.  "Services saw a pick-up in growth, while the manufacturing sector managed to outperform expectations despite a marginal slowdown from its October final PMI reading," observed Pranjul Bhandari, chief India economist at HSBC. HSBC's flash India Composite Purchasing Managers' Index...
India`s business activity surges to 3-month high in November
India`s business activity surges to 3-month high in November
Source: IANS
2024-11-22 12:50:30 pm
Maruti Suzuki surges on inking pact with HSBC India Maruti Suzuki is currently trading at Rs. 11451.05, up by 143.80 points or 1.27% from its previous closing of Rs. 11307.25 on the BSE. The scrip opened at Rs. 11310.70 and has touched a high and low of Rs. 11474.60 and Rs. 11310.00 respectively. So far 766 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 13675.00 on 01-Aug-2024 and a 52 week low of Rs. 9738.40 on 18-Jan-2024. Last one week high and low of the scr...
Maruti Suzuki surges on inking pact with HSBC India
Maruti Suzuki surges on inking pact with HSBC India
Source: Accord Fintech
2024-11-11 10:28:23 am
E-way bills for goods soar to record high as trade surges in Oct The e-way bill generation for the transportation of goods from production centres to markets across the country soared to a record high of 11.7 crore during October, representing a 17 per cent jump over the same month of the previous year, data from the Goods and Services Tax Network (GSTN) showed.    The surge in e-way bills reflects the increase in economic activity as the manufacturing sector accelerates to meet the growing demand in the economy during the festive season. T...
E-way bills for goods soar to record high as trade surges in Oct
E-way bills for goods soar to record high as trade surges in Oct
Source: IANS
2024-11-08 12:34:52 pm
Strong demand revives India services PMI in October Growth in India's dominant services industry picked up last month after dipping to a 10-month low rate in September amid a marked expansion in demand, according to a business survey that also showed the sector's workforce increased sharply. That signaled a relatively strong start for Asia's third-largest economy in 2024's final quarter and supports Reuters poll forecasts for 7.0% growth this quarter after 6.8% last quarter. Services accounted for about 55% of gross domes...
Strong demand revives India services PMI in October
Strong demand revives India services PMI in October
Source: Reuters
2024-11-06 02:19:46 pm
India`s services sector growth surges in Oct Indian service providers maintained a strong rate of output expansion in October, with growth recovering from September's ten-month low, which also led to the creation of more jobs during the month, according to HSBC's survey released on Wednesday.  Participants of the HSBC India Services PMI survey, conducted by S&P Global, commonly cited healthy customer demand domestically and from abroad. In response to positive sales developments, and optimism regarding near-term ...
India`s services sector growth surges in Oct
India`s services sector growth surges in Oct
Source: IANS
2024-11-06 12:06:29 pm
Rupee weakens against US dollar on Tuesday Indian rupee weakened against the US dollar on Tuesday due to a muted trend in domestic equities and caution ahead of the outcome of the US presidential election this week, while this week’s Federal Reserve's monetary policy announcement also pressurised sentiments. Moreover, persistent foreign fund outflows and rising crude oil prices also dragged down the domestic currency. Foreign institutional investors were net sellers in the capital markets on Monday, as they offloaded shares ...
Rupee weakens against US dollar on Tuesday
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
2024-11-05 12:37:27 pm
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October India's manufacturing sector regained growth momentum in the month of October, fuelled by faster increases in total new orders and international sales. An associated rise in production requirements boosted demand for raw materials, with suppliers comfortably able to deliver inputs in a timely manner. Besides, goods producers were also more willing to take on additional staff which, coupled with rising material costs, added to business expenses. Both input prices and selling charges increa...
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October
Source: Accord Fintech
2024-11-04 03:35:33 pm
Export orders fuel India`s manufacturing growth, jobs in October: HSBC India’s manufacturing sector growth accelerated in October, fuelled by faster increases in total new orders and international sales, leading to the creation of more jobs during the month, according to the HSBC data released on Monday.  The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) compiled by S&P Global, rose from September's eight-month low of 56.5 to 57.5 in October, indicating a substantial and accelerated improvement in o...
Export orders fuel India`s manufacturing growth, jobs in October: HSBC
Export orders fuel India`s manufacturing growth, jobs in October: HSBC
Source: IANS
2024-11-04 02:11:32 pm
India`s factory growth accelerates in October, PMI shows  India's manufacturing growth gained momentum in October after decelerating for three months as demand improved significantly, helping in job creation and leading to a better business outlook, according to a business survey released on Monday. The HSBC final India Manufacturing Purchasing Managers' Index, complied by S&P Global, rose to 57.5 in October from an eight-month low of 56.5 in September and was above a preliminary estimate of 57.4. "India's headline m...
India`s factory growth accelerates in October, PMI shows
India`s factory growth accelerates in October, PMI shows
Source: Reuters
2024-11-04 10:48:56 am
India`s manufacturing industry regains growth momentum, hiring up in services sector India’s manufacturing industry regained growth momentum in October and the acceleration was supported by quicker increases in factory production and services activity, according to a new report.  India’s private sector economy continued to showcase robust growth in October, according to the latest HSBC ‘flash’ PMI survey compiled by S&P Global. Meanwhile, hiring was stronger in the service sector. The latest increase in employment was sharp and the q...
India`s manufacturing industry regains growth momentum, hiring up in services sector
India`s manufacturing industry regains growth momentum, hiring up in services sector
Source: IANS
2024-10-26 08:44:47 am
India's business activity grows at faster clip in Oct, PMI shows Growth in India's business activity picked up slightly in October after softening last month, led by stronger demand in the manufacturing sector, according to a survey that also showed job creation rose at the fastest pace since February 2006. HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Global, rose to 58.6 this month from September's final reading of 58.3, which was a 10-month low. The headline index has been above the 50-level separatin...
India's business activity grows at faster clip in Oct, PMI shows
India's business activity grows at faster clip in Oct, PMI shows
Source: Reuters
2024-10-24 11:22:53 am
India`s business activity slows down in September: HSBC Flash India PMI India's business activity slowed down in the month of September, as both output and new orders rose at the slowest rates in 2024 so far. However, employment continued to rise solidly amid improved business confidence. Besides, the rates of both input cost and output price inflation were relatively muted, with service providers raising their charges at the slowest pace in just over two-and-a-half years. The headline HSBC Flash India Composite Output Index -- a seasonally adjusted index ...
India`s business activity slows down in September: HSBC Flash India PMI
India`s business activity slows down in September: HSBC Flash India PMI
Source: Accord Fintech
2024-09-23 12:54:50 pm
India`s services sector growth accelerates to 5-month high in August, PMI shows  Activity in India's dominant services sector rose at its fastest pace in five months in August as demand remained resilient amid easing inflationary pressures, a survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, rose to 60.9 in August, up from July's 60.3 and exceeding a preliminary estimate of 60.4. The reading, which has topped the 50-mark separating growth from contraction since August 2021, was above the long-run a...
India`s services sector growth accelerates to 5-month high in August, PMI shows
India`s services sector growth accelerates to 5-month high in August, PMI shows
Source: Reuters
2024-09-04 11:31:12 am
India's factory activity growth hits three-month low, PMI shows India's manufacturing activity growth eased to a three-month low in August as demand softened significantly, a private-sector survey showed on Monday, casting another shadow over the otherwise robust economic outlook. Growth in Asia's third-largest economy slowed to 6.7% last quarter from 7.8% as government spending fell, official data showed on Friday. The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell for a second month in Augus...
India's factory activity growth hits three-month low, PMI shows
India's factory activity growth hits three-month low, PMI shows
Source: Reuters
2024-09-02 11:04:21 am
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh  Talks to sell majority stakes in two Indian banks have attracted interest from foreign peers in Japan and the Middle East betting on a fast-growing economy, but tighter regulations and valuation concerns could curb their appetite, analysts and sources say. The rare opportunity for foreign banks to take controlling stakes in a market dominated by state-owned banks comes as existing investors in Yes Bank and IDBI Bank look to divest their holdings. Banking sector deals in India, esp...
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Source: Reuters
2024-08-28 04:23:48 pm
India business activity extends robust growth streak in August, PMI shows  India's business activity extended its robust growth streak in August as a stronger services industry offset a slight slowing in manufacturing expansion, according to a survey that indicated price pressures also were easing. Those findings suggest India will hold on to its title of fastest-growing major economy over coming quarters despite expectations of a slowdown in the global economy. HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Glob...
India business activity extends robust growth streak in August, PMI shows
India business activity extends robust growth streak in August, PMI shows
Source: Reuters
2024-08-22 10:45:35 am
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years The country is emerging as a top destination for foreign investment in the manufacturing sector and in the last decade, foreign direct investment (FDI) inflows in the sector surged almost 69 per cent to reach $165.1 billion, according to the government.  Jitin Prasada, Minister of State for Commerce and Industry, informed that FDI equity inflow in the manufacturing sectors in the last 10 financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 bill...
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
Source: IANS
2024-08-11 12:21:03 pm
India`s services sector growth eases to 60.3 in July India’s services sector growth eased during the month of July as higher wage and material costs continued to push up business expenses, with the overall rate of inflation quickening from June, however it remained above the neutral mark of 50.0 for the thirty-sixth straight month. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index eased to 60.3 in July from 60.5 in June. Further, the HSBC India Composite PMI Output Index -- which measu...
India`s services sector growth eases to 60.3 in July
India`s services sector growth eases to 60.3 in July
Source: Accord Fintech
2024-08-05 02:37:43 pm
India's services growth slows a touch but still solid, PMI shows Activity in India's dominant services sector remained upbeat in July on robust demand, leading to strong job creation, despite elevated cost pressures pushing up selling-price inflation to a seven-year high, a survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, fell marginally to 60.3 in July from 60.5 in June and was considerably below a preliminary estimate of 61.1. However, the overall pace of expansion was sharp and the index ...
India's services growth slows a touch but still solid, PMI shows
India's services growth slows a touch but still solid, PMI shows
Source: Reuters
2024-08-05 02:05:55 pm
India sees uptick in manufacturing sentiments, domestic demand in April-June As the Union Budget 2024-2025 gives special attention to labour-intensive manufacturing, a new survey said on Friday that manufacturing sentiments in the country have shown an improvement in the April-June quarter.  According to FICCI’s ‘Quarterly Survey on Manufacturing,’ nearly 78 per cent of respondents in the Q1 FY25 expect either higher or unchanged production levels, compared to the same period last year. It also highlighted optimism in domestic demand condi...
India sees uptick in manufacturing sentiments, domestic demand in April-June
India sees uptick in manufacturing sentiments, domestic demand in April-June
Source: IANS
2024-07-26 04:37:53 pm
India's business activity surges to 3-month high in July India's business activity accelerated to a three-month high in July as the services sector surged and manufacturing picked up momentum leading to companies hiring at the fastest pace in 18 years, according to the latest HSBC's survey.  HSBC's flash India composite purchasing managers' index compiled by S&P Global, rose to 61.4 this month from June's final reading of 60.9, marking three years of continuous expansion. "The Flash Composite Output Index...
India's business activity surges to 3-month high in July
India's business activity surges to 3-month high in July
Source: IANS
2024-07-25 05:06:12 pm
India's private sector economy continues to expand in July: HSBC Flash India PMI data India's private sector economy continued to expand in July, aided by stronger increases in new business intakes and output. The headline HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - surged from 60.9 in June to 61.4 in July. The HSBC Flash India PMI data, compiled by S&P Global, indicated that new orders placed with private sector firms in India ...
India's private sector economy continues to expand in July: HSBC Flash India PMI data
India's private sector economy continues to expand in July: HSBC Flash India PMI data
Source: Accord Fintech
2024-07-24 03:24:57 pm
Likely winners and losers from India's upcoming national budget India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities. After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas. While that could benefit consumer goods makers, real e...
Likely winners and losers from India's upcoming national budget
Likely winners and losers from India's upcoming national budget
Source: Reuters
2024-07-22 09:32:42 am
HSBC appoints insider Georges Elhedery as CEO HSBC Holdings Plc said on Wednesday that Chief Financial Officer Georges Elhedery will become group CEO - a choice that highlights the global lender's preference for continuity as it looks to kickstart growth. Elhedery, 50, who becomes HSBC's third CEO in less than eight years, will replace outgoing head Noel Quinn from Sept. 2. The 160-year-old lender has traditionally appointed its CEO from within. Since 2020, Elhedery has been the co-head of the Global Banking and Markets bus...
HSBC appoints insider Georges Elhedery as CEO
HSBC appoints insider Georges Elhedery as CEO
Source: IANS
2024-07-17 09:49:18 am
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia HSBC India today launched an upgraded lifestyle credit card HSBC Live+ Credit card with a full suite of new culinary offers to enhance the lifestyle experience of globally minded customers. The HSBC Cashback credit card is now HSBC Live+ credit card.    HSBC Live+ Credit Card provides rewards tailored to lifestyle spending and reflects HSBC’s focus on providing innovative solutions that help customers earn more rewards while enjoying quality experiences.  ...
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia
Source: PR Agency
2024-07-13 10:40:00 am
India`s services sector activity improves to 60.5 in June India’s services sector activity improved during the month of June amid a stronger rise in new orders and an unprecedented expansion in international sales. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 60.5 in June from 60.2 in May. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also surged to 60.9 in June as against 60.5 in May. The survey report noted that new...
India`s services sector activity improves to 60.5 in June
India`s services sector activity improves to 60.5 in June
Source: Accord Fintech
2024-07-03 11:53:45 am
India`s manufacturing activity surges in June, hiring at 19-year high India's manufacturing activity picked up momentum in June on the back of rising consumer demand leading to the fastest rate of hiring in 19 years, according to HSBC's final India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, released on Monday.  “The Indian manufacturing sector ended the June quarter on a stronger footing. The headline manufacturing PMI rose by 0.8 percentage points to 58.3 in June, supported by increased new orders and ...
India`s manufacturing activity surges in June, hiring at 19-year high
India`s manufacturing activity surges in June, hiring at 19-year high
Source: IANS
2024-07-01 12:21:49 pm
Government initiatives played vital role in creating jobs for people in private sector: Economist Government initiatives such as Startup India, Make in India, New Education Policy, and others have played an important role in creating employment for people in private sector on such a large scale, Vivek Singh, Professor at NMIMS University, Economist and Political Analyst, said on Saturday.  According to HSBC's flash Purchasing Managers' Index (PMI) data, output growth across India's private sector regained growth in June with business activity increasing at quicker rate...
Government initiatives played vital role in creating jobs for people in private sector: Economist
Government initiatives played vital role in creating jobs for people in private sector: Economist
Source: IANS
2024-06-23 10:11:06 am
Business activity surges in June, hiring at 18-year high: PMI survey Output growth across India's private sector regained growth in June with business activity increasing at quicker rates among manufacturing companies and services firms while hiring of workers shot up to an 18-year high, according to HSBC’s flash PMI data released on Friday.   There was also a substantial upturn in aggregate employment amid robust expansions in total new orders intakes and international sales, according to the data, compiled by S&P Global. New o...
Business activity surges in June, hiring at 18-year high: PMI survey
Business activity surges in June, hiring at 18-year high: PMI survey
Source: IANS
2024-06-21 02:17:45 pm
India`s services sector activity growth eases to 60.2 in May India’s services sector activity growth eased further during the month of May but remained comfortably above the neutral mark of 50.0, highlighting a sharp upturn in output. Robust increases in new business intakes continued to underpin output growth across India's service economy. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 60.2 in May from 60.8 in April. It was 61.2 in March. Further, the HSBC India Composite P...
India`s services sector activity growth eases to 60.2 in May
India`s services sector activity growth eases to 60.2 in May
Source: Accord Fintech
2024-06-05 12:39:43 pm
India's May services growth cools to five-month low, PMI shows Growth in India's services activity growth slowed to a five-month low in May as robust domestic demand weakened, according to a survey, which also showed exports growing at a record pace and job creation rising to a 21-month high. The final HSBC India Services purchasing managers' index, compiled by S&P Global, fell to 60.2 last month from April's 60.8, confounding a preliminary reading for a rise to 61.4. However, it remained above the 50 mark separating growth from con...
India's May services growth cools to five-month low, PMI shows
India's May services growth cools to five-month low, PMI shows
Source: Accord Fintech
2024-06-05 11:08:29 am
Rupee to count on central bank's help amid portfolio outflows The Indian rupee will rely on the central bank stepping in to defend the currency on Wednesday, amid likely foreign portfolio outflows following the unexpected outcome of the country's general election. Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session. The rupee is not too far from the all-time low of 83.5750 hit in April. The rupee posted its biggest single-day percentage decline in a year on Tuesday after Prime Minister Nar...
Rupee to count on central bank's help amid portfolio outflows
Rupee to count on central bank's help amid portfolio outflows
Source: Reuters
2024-06-05 09:11:09 am
Shriram Finance Raises Multi Currency USD 468 mn equivalen Shriram Finance Limited (SFL), the flagship company of Shriram Group, has recently completed a significant fund-raising effort, securing USD 425 million and EUR 40 million through a syndicated term loan transaction. This marks the largest widely syndicated loan transaction for a private non-banking financial company (NBFC) from India in recent years, and it is the largest ever syndicated loan transaction by Shriram Finance.    This achievement follows closely on the heels of a...
Shriram Finance Raises Multi Currency USD 468 mn equivalen
Shriram Finance Raises Multi Currency USD 468 mn equivalen
Source: PR Agency
2024-06-03 03:36:31 pm
India`s manufacturing sector growth eases further to 57.5 in May India's manufacturing sector growth eased further in the month of May, signaling a slower but still substantial improvement in the health of the sector. The headline figure was nearly four points higher than its long-run average. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) eased to 57.5 in May as against 58.8 in April. It was 59.1 in March. Amid marketing efforts, demand strength and favourable economic conditi...
India`s manufacturing sector growth eases further to 57.5 in May
India`s manufacturing sector growth eases further to 57.5 in May
Source: Accord Fintech
2024-06-03 12:30:52 pm
India clocks record rise in exports, employment at 18-year high in May: PMI data The Indian economy clocked a record rise in exports and the sharpest upturn in employment in nearly 18 years in May, according to HSBC Flash Purchasing Manager's Index (PMI) data released on Thursday. The PMI data, compiled by S&P Global, indicated the third-strongest upturn in private sector output since July 2010. Although the manufacturing industry continued to lead the growth of both sales and output, it was the service economy that was responsible for the latest acceleration i...
India clocks record rise in exports, employment at 18-year high in May: PMI data
India clocks record rise in exports, employment at 18-year high in May: PMI data
Source: IANS
2024-05-23 01:42:54 pm