Page 671 - Economy & Policy News
India, Russia suspend negotiations to settle trade in rupees: Report
India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers
 "India, Russia suspend negotiations to settle trade in rupees: Report")
Adani Ports, Special Economic Zone sells Myanmar Port for $30 million
Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has concluded the Myanmar Port sale for a total consideration of USD 30 million
 "Adani Ports, Special Economic Zone sells Myanmar Port for $30 million")
India to become 50% non-cash economy in consumption in 3 years: Report
Market borrowings by India's state governments are likely to be lower than the amounts indicated in their budgets, as off-balance sheet liabilities will continue to be adjusted in this fiscal year
 "India to become 50% non-cash economy in consumption in 3 years: Report")
India to become 50% non-cash economy in consumption in 3 years: Report
India is expected to become a 50 per cent non-cash economy in consumption in the next three years, with person-to-merchant digital transactions reaching over $1.5 trillion by FY26
 "India to become 50% non-cash economy in consumption in 3 years: Report")
India's exports may hit $900 bn despite global headwinds in FY24: Exporters
Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024
 "India's exports may hit $900 bn despite global headwinds in FY24: Exporters")
163 Indian companies invested $40 bn in US; created 425,000 jobs: Report
As many as 163 Indian companies have invested more than USD 40 billion in the United States so far which has created nearly 425,000 jobs in the country, according to a survey.
 "163 Indian companies invested $40 bn in US; created 425,000 jobs: Report")
Fierce war to bag AI talent shifts to India with salaries being doubled
An AI hiring frenzy is ricocheting around the world, from Silicon Valley to Europe, Asia and beyond
 "Fierce war to bag AI talent shifts to India with salaries being doubled")
Oil extends loses by 5%, falls below $73 a barrel; Brent futures dips 3%
Both benchmarks closed at their lowest since late March in the previous session, when they also recorded their biggest one-day percentage declines since early January
 "Oil extends loses by 5%, falls below $73 a barrel; Brent futures dips 3%")
Centre likely to shelve plans to export methanol to Bangladesh
Centre refocusing on 15% methanol-blended petrol strategy under NITI Aayog's national plan
 "Centre likely to shelve plans to export methanol to Bangladesh")
Govt to roll out mandatory quality standards for drones, electric vehicles
Standards for drones that are used extensively in the agriculture space for soil analysis, irrigation, crop mapping and pest management have already been formulated
 "Govt to roll out mandatory quality standards for drones, electric vehicles")
'Unhappy with footwear industry for not complying with quality control'
Commerce and Industry Minister Piyush Goyal on Wednesday came down heavily on the footwear industry for not complying with the quality control order issued in 2020 and seeking more time to comply
 "'Unhappy with footwear industry for not complying with quality control'")
Coal Min sets 1-bn tonne target for FY; aims Rs 50k-cr asset monetisation
CIL will award its mines to private contractors through the 'mine developer and operator (MDO)' mode
 "Coal Min sets 1-bn tonne target for FY; aims Rs 50k-cr asset monetisation")
India's coal production rises 22.6% in 5 years to 893.08 mn tonnes in FY23
India's coal production has registered a growth of about 23 per cent in last five years to 893.08 million tonnes (MT) in FY23, an official statement said on Wednesday
Need to focus on infra, innovation for sustainable growth: FM Sitharaman
Finance Minister Nirmala Sitharaman on Wednesday underlined the need for focussing on four Is -- infrastructure, investment, innovation and inclusivity -- to achieve sustainable growth in long-term
 "Need to focus on infra, innovation for sustainable growth: FM Sitharaman")
New IT Rules: 16 groups join hands against govt-run fact-checking unit
The groups said that the new IT Rules would censor journalism and severely jeopardise freedom of expression
 "New IT Rules: 16 groups join hands against govt-run fact-checking unit")
India's services sector growth climbs to near 13-year high in April: PMI
For the 21st straight month, the headline figure was above the neutral 50 threshold
 "India's services sector growth climbs to near 13-year high in April: PMI")
April services activity hits near 13-year high as inflation accelerates
Finance and insurance record strongest increase in output, says S&P Global's PMI survey
 "April services activity hits near 13-year high as inflation accelerates")
EPFO extends deadline to apply for the higher pension to June 26
Earlier, the online facility was to remain available only till May 3, after EPFO had earlier extended the timeline in late March, after receiving multiple requests from employee organisations
 "EPFO extends deadline to apply for the higher pension to June 26")
No significant impact of Esma ban, say domestic clearing corporations
Industry sources said that as of Tuesday, the European banks continued to use the clearing and settlement services of the CCIL
 "No significant impact of Esma ban, say domestic clearing corporations")
UIDAI allows residents to verify email, mobile number seeded with Aadhaar
UIDAI on Tuesday announced the addition of new facility on its webiste and mobile app to allow residents to verify their mobile numbers and email IDs seeded with their Aadhaar
 "UIDAI allows residents to verify email, mobile number seeded with Aadhaar")