The European Union on Wednesday rolled out a multi-billion-euro strategy to reduce its dependence on China for rare earths, unveiling measures to boost domestic mining, refining and recycling capacity amid rising geopolitical pressure on critical supply chains.The plan comes after months of turbulence triggered by Beijing’s export controls, according to AFP, which have disrupted manufacturers…
Finance Minister Nirmala Sitharaman (File photo) Finance Minister Nirmala Sitharaman on Wednesday clarified that the International Monetary Fund (IMF) did not question India’s growth figures, and said the Fund’s ‘C’ grade on national accounts stems solely from the use of an outdated base year. She said the IMF, in fact, acknowledged India’s healthy economic performance…
Markets regulator Sebi has introduced a single-window access framework for low-risk foreign investors, aiming to simplify regulatory processes and make India a more attractive investment destination, according to PTI. The new system is designed to streamline compliance, ease multiple registrations and reduce repetitive documentation across investment routes.Called the Single Window Automatic & Generalised Access for…
India and the European Union will hold detailed discussions this week on boosting the security and resilience of undersea cables in the Indian Ocean, weeks before the annual India-EU summit scheduled for January 27 in New Delhi. Cooperation on protecting critical submarine infrastructure is likely to feature prominently at the summit, PTI reported.According to the…
India’s exports posted a healthy rise in November after a sharp fall in October, Commerce and Industry Minister Piyush Goyal said on Wednesday, indicating that outbound shipments had regained momentum despite global volatility. He did not reveal the numbers, with the commerce ministry set to release official data on December 15.According to PTI, Goyal said…
India’s services sector regained momentum in November as firms reported a quicker rise in new business and only mild price pressures, helping the industry rebound after losing pace in October, according to PTI. The latest HSBC India Services PMI survey showed a broad improvement in operating conditions, supported by stronger domestic demand.The seasonally adjusted HSBC…
Wall Street drifted in early trade on Wednesday as mixed corporate earnings left the major indices little changed, even as the S&P 500 stayed within 1% of its all-time high set in late October.The day also saw rising consumer-facing angst and stock-specific swings, with social media chatter adding to volatility in pockets of the market.Marvell…
Veteran banker Uday Kotak on Wednesday said the rupee’s fall past the 90-per-dollar mark reflects persistent selling by foreign portfolio investors (FPIs) and private equity funds routing money through the FDI channel, even as domestic investors continue to buy into the market, ET reported. His comments came as the currency extended its eight-month decline against…
NEW DELHI: Income tax refunds are experiencing significant delays this assessment year, with tax professionals reporting extended processing times even for routine cases. Official CBDT data shows personal income-tax refunds have dropped to Rs 88,548 crore by early November compared to Rs 1.42 lakh crore in the same period last year. According to official data…
The rupee plunged to a historic low on Wednesday, slipping past the 90-per-dollar threshold for the first time amid foreign fund outflows, firm crude oil prices and uncertainty around the India–US trade deal, according to PTI. The lack of visible RBI intervention through most of the session added to market pressure, forex traders said.At the…
