India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
India's crude oil imports from Russia surged to a near-annual high in June, reaching 2.08 million bpd, driven by West Asia tensions and discounted prices. While overall imports decreased, Russian volumes increased, with three refineries processing over half for G7+ exports. Despite diversification efforts, Russia remains India's top supplier, accounting for 40% of total crude imports. India's crude oil imports from Russia climbed to their highest in nearly a year in June, as refiners stocked up
U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social. Trump said the tariffs would remain in place until the two countries ...Read More >
The newly elected President of the United States Donald Trump is extending his hands to unapologetically stand firm with United States most reliable ally, Israel. Donald Trump on 2nd December has issued a stark warning, declaring that there would be "hell to pay" in the Middle East if hostages held in the Gaza strip are not freed before his January 20, 2025, inauguration. During October 2023 terrorist attacks led by Hamas upon Israel, the terrorist group captured over 250 innocent individuals, with Israeli reports confirming dual Israeli-American nationals among the hostages. Currently, aroun ...Read More >
xternal Affairs Minister (EAM), S. Jaishankar, on Monday, met with the Foreign Minister of Ukraine and discussed the conflict with Russia at the sidelines of the MED Mediterranean Dialogues Conference in Rome, Italy. Apart from Ukraine, EAM Jaishankar met with his counterparts from France, Lebanon, and Croatia as well. On his meeting with the Ukrainian Foreign Minister Andrii Sybiha, the EAM reiterated India's support for "dialogue and diplomacy" to end the long-running conflict. "Good to meet FM of Ukraine @andrii_sybihain Rome today. Useful exchange on advancing our bilateral cooperation. ...Read More >
The best performers of the session on the Moroccan All Shares were Disty Technologies SA (CSE:DYT), which rose 4.94% or 12.00 points to trade at 255.00 at the close. Meanwhile, Ste de Travaux de Realisation d'Ouvrages et de Constuction Industielle SA (CSE:STR) added 4.62% or 2.14 points to end at 48.49 and Jet Contractors (CSE:JET) was up 4.50% or 68.00 points to 1,580.00 in late trade. The worst performers of the session were Disway SA (CSE:DWY), which fell 4.26% or 28.00 points to trade at 630.00 at the close. AFMA SA (CSE:AFM) declined 4.22% or 48.00 points to end at 1,090.00 and Stokvis N ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
NEW DELHI: India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. It said that factors such as cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing Free Trade Agreements (FTAs) have played a critical role in helping these countries expand their export shares. The US has implemented stricter export controls and higher tariffs on Chinese goods to limit China's growth and expenditure towards technologi ...Read More >
HELSINKI - Finnish financial company Sampo Oyj (HEX:SAMPO) has completed the acquisition of its own A shares on November 26, as part of its ongoing share buyback program. The company reported that a total of 93,734 shares were purchased across various marketplaces at a weighted average price of €40.16 per share. The buyback initiative, which was first announced on June 17, 2024, originally set out to purchase up to €400 million worth of its own shares. Following a decision by Sampo's Board of Directors on September 16, 2024, the program was expanded to €475 million. The buyback is conducted u ...Read More >
Listening to the sounds of nature such as birdsong reduces stress levels - but the sound of traffic increases them, new research shows. The research lends support for anyone who is a firm believer in the curative powers of a walk in the countryside or through a forest. In a study, 68 volunteers listened to three three-minute soundscapes: a nature soundscape recorded at sunrise in West Sussex, the same soundscape combined with 20 mile per hour road traffic sounds, and the same soundscape with 40 mile per hour traffic sounds. General mood and anxiety were assessed before and after the soundsc ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration Nato foreign ministers looked set to rebuff Tuesday a push from Ukraine for progress on joining their alliance ahead of Donald Trump taking power in the United States. The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration. Ukraine's President Volodymyr Zelenskyy has said getting security guarantees from the Western alliance and ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
New Delhi: The BS3 petrol and BS4 diesel vehicle ban has been lifted in Delhi after the Air Quality Index (AQI) improved to the moderate category. The Supreme Court allowed the Commission for Air Quality Management (CAQM) to ease restrictions due to the improvement in the national capital's air pollution situation. Delhi had been facing high pollution levels, which led CAQM to enforce Stage 4 of the Graded Response Action Plan (GRAP). The court has now asked the commission to apply GRAP Stage 2. ...Read More >
The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio. That preliminary consensus after six days of negotiations included streamlined language about global conflicts including the war in Ukraine, focusing on the need to negotiate peace rather than criticism of any participants. However, sources said even that "simpler" consensus may now be up for reconsideration following the Russian air strike and the prospect of further escalation. Un ...Read More >
The global smoke grenade market is expected to grow from $297.24 million in 2023 to $456.46 million by 2031, driven by a 5.5% CAGR. Military, law enforcement, and emergency services are the primary sectors fueling demand, especially for tactical operations, training, and crowd control. Advances in technology have led to safer, more effective smoke grenades, while commercial uses in activities like paintball and film production are rising. Environmental concerns are promoting the development of eco-friendly products. North America leads the market, with rising military expenditures further boos ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
New Delhi [India], December 12 (ANI): The Index of Industrial Production (IIP) growth rate for October 2024 registered a modest increase to 3.5 per cent, up from 3.1 per cent in September 2024, according to the Quick Estimates released on December 12. According to the Ministry of Statistics & Programme Implementation, sectoral analysis reveals mixed performances. Mining, Manufacturing, and Electricity sectors reported growth rates of 0.9 per cent, 4.1 per cent, and 2.0 per cent, respectively. The manufacturing sector demonstrated resilience, with 18 out of 23 industry groups at the 2-digit N ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
Euro zone government bond yields increased slightly as investors await upcoming inflation data that may influence the European Central Bank's policy direction. Concerns over potential tariff hikes from the U.S. could further impact ECB strategies. Germany's bond yields and political tensions in France also add to the economic uncertainties. On Tuesday, euro zone government bond yields saw a minor increase after hitting multi-week lows in the previous session. Investors are keenly awaiting inflation data later this week that could provide insight into the European Central Bank's potential poli ...Read More >
China and Hong Kong stock markets are experiencing a downturn due to rising concerns over the U.S.-China trade war, particularly regarding proposed tariffs and chip sales restrictions. The CSI300 and Shanghai Composite indexes fell, while Hong Kong's Hang Seng Index dropped 1.32%. Investors are wary of potential new restrictions on semiconductor and AI chip exports to China, further exacerbating market uncertainty. The automotive sector, led by BYD, also suffered from intense price competition among Chinese carmakers. Investor sentiment remains cautious, reflecting fears of escalating trade te ...Read More >
Dozens of two-wheelers skidded on a Hyderabad road after an oil tanker leaking fuel passed from the area. The incident which occurred on Hyderabad's Kushaiguda-Nagaram road left several bikers injured. In a video, which went viral after the accident, men and women were seen sprawled on the road along with their fallen two-wheelers. While some of them are still on the road, others can be seen attempting to pick up their vehicles. "A road stretch between ECIL & Keesara has turned slick due to a diesel spill. Motorists are urged to drive carefully and consider alternate routes to avoid accident ...Read More >
Uber has launched India's first Shikara ride on Srinagar's Dal Lake, offering a unique and scenic experience. This new service allows passengers to enjoy the tranquil beauty of the lake while riding in a traditional Shikara boat. Booking is easy through the Uber app, with rides available daily from 10 AM to 6 PM. This initiative aims to boost tourism in the region while providing locals with a new way to experience the lake. With Uber's entry into the Shikara market, visitors can now enjoy a blend of modern convenience and traditional charm on Dal Lake. ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
Since our last publication, the higher risk-sensitive EUR/CHF cross pair has wobbled as it grappled with the Eurozone's economic weakness and a looming unfavorable external trade environment due to further global supply chain disruptions due to incoming US President-elect Trump's 10% to 20% tariffs threat on other countries' exports to the US, inclusive of the Eurozone. The EUR/CHF inched lower in the week of 18 November (ex-post US Presidential election outcome on 6 November) and retested a key intermediate support of 0.9255, a key swing low made almost a year ago on 29 December 2023. Fig 1 ...Read More >
New Delhi, Dec 12 (PTI) Gold prices climbed Rs 500 to Rs 80,900 per 10 grams in the national capital on Thursday due to persistent buying by retailers and jewellers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity finished at Rs 80,400 per 10 grams in the previous trading session. The yellow metal has jumped nearly Rs 2,000 in the past three sessions. Silver also rallied Rs 700 to Rs 97,000 per kg on Thursday. The white metal settled at Rs 96,300 per kg in the previous session. The price of gold of 99.5 per cent purity also surged Rs 500 to Rs 80,5 ...Read More >
Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. "The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary Ge ...Read More >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >
TOI correspondent from Washington: In a warning shot that echoed across major world capitals and business majors on Tuesday, US President-elect Donald Trump said he will issue executive orders on day one of his presidency imposing new tariffs on all imported goods from China, Mexico and Canada, Washington's three largest trading partners, to stop the "invasion" of illegal migrants and drugs into the United States. In a post on his Truth Social platform, Trump put the onus of containing illegal border crossings squarely on two immediate neighbors on its southern and northern borders, saying "b ...Read More >
In the Indo-Pacific region, if one development would prove to be a landmark event in the region's modern history, it would be the signing of the Treaty of Comprehensive Partnership between North Korea and Russia in June 2024. The partnership has paved the way for strengthening bilateral ties between Moscow and Pyongyang and marked the onset of the global order transition, which was already underway. The institutionalization of the U.S., South Korea, and Japan's trilateral security cooperation has also given Russia and North Korea another strategic reason to collaborate. Therefore, with the geo ...Read More >