Page 49 - Economy

China's trade weakens to worst since first Covid lockdown as demand falls

The worsening trade performance is undermining a strong pillar of China's economy over the last two years, where the rise in exports to record levels have provided Chinese firms with stable demand

Remarkably resilient: World Bank ups FY23 India growth forecast to 6.9%

Says strong macro fundamentals place country in good stead

GST Council to discuss decriminalisation at Council meet on December 17

One of the proposals before the Council is to raise the threshold limit for launching criminal proceedings under GST for offences over Rs 20 crore

Hospitality industry sees welcome boost from India's G20 presidency

As President, India will host nearly 200 meetings across the country that thousands of delegates are expected to attend along with media, govt officials, event managers, private sector representatives

GST superstructure lacks some basic features even after 5 years

Currently, there is no appellate mechanism in place for rulings by the GST authorities and a group of ministers is deliberating on it

India set to export mobile phones worth $9 billion in FY23: Report

Phone exports have already crossed the $5 billion mark, twice more than the last year's $2.2 billion

India's G20 priorities to reflect that of the global south: Amitabh Kant

'This is a unique forum of both the developed world and emerging economies. We need to build new approaches that benefit them both'

Iran no longer importing tea and basmati rice from India, says report

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Work demand under MGNREGS at 4-month high, FY23 funds almost exhausted

The budgetary allocation for MGNREGS has already been exhausted, if pending liabilities for the financial year are included

GeM closes in on Amazon, Flipkart in gross merchandise value

In FY22, govt's public procurement portal recorded a GMV of $14.2 bn, as against Amazon India's $17 bn and Flipkart's $23 bn

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

French GDP growth slows to 0.2% in Q3 after 0.5% rebound in Q2

France's GDP growth in the third quarter slowed down to 0.2 per cent in volume terms following a 0.5 per cent rebound in Q2

Investors want more of India as it improves infra: Goldman Sach's Sengupta

India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said

Sri Lanka inflation dips marginally to 61% in November from 66% in Oct

Sri Lanka's key inflation rate dipped marginally to 61 per cent in November, down from 66 per cent in October, the country's statistics office said on Wednesday, as the crisis-hit economy showed signs of recovery. The 12-month inflation by the Colombo Consumer Price Index peaked at 69.8 per cent in September and the National Consumer Price Index peaked at 73.8 per cent. The consumer price index in Colombo eased to 61 per cent in November, marginally down from 66 per cent reported in October, the Census and Statistics Department said. This is the second straight month that the key inflation rate has eased this year. Central Bank Governor Nandalal Weerasinghe on Wednesday said the dipping inflation rate after peaking to 70 per cent was a good indicator that the economy was trudging along the path of recovery. The Central Bank of Sri Lanka has raised borrowing costs by 950 basis points this year, taking the key rate to 15.5 per cent to tame rising prices. Colombo seeks to secure the

Climate for investment vitiated, appetite for investment poor: Congress

The Congress on Wednesday attacked the Centre over India's economy slowing down to 6.3 per cent in the July-September quarter of this fiscal, saying it is a pity that the government is helpless against external factors and in denial about internal factors. Senior Congress leader and former finance minister P Chidambaram alleged that the climate for investment is "vitiated" and the appetite for investment is "poor". India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, dragged down mainly by the poor performance of manufacturing and mining sectors, official data showed on Wednesday. However, India remained the fastest-growing major economy as China registered an economic growth of 3.9 per cent between July and September 2022. "As expected (except by the government), GDP growth rate in Q2 has come down from 13.5 per cent to 6.3 per cent. I am afraid it may be lower in Q3. There are both external factors and internal factors that have pulled

Act not enough; women vendors in Nagaland struggle for basic amenities

The Street Vendors Act, 2014 aims to protect livelihood rights and social security of street vendors but its implementation has been sluggish

GDP growth may have beaten MPC's estimate of 6.3% in Q2: Economists

Growth numbers for the second quarter of the current financial year are scheduled to be out today

Zimbabwe's monthly inflation declines to 1.8% in Nov from 3.2% in Oct

Zimbabwe's month-on-month inflation rate for November fell to 1.8 from 3.2 per cent of the previous month, the Zimbabwe National Statistics Agency said

India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'

UK India Business Council MD lists four "Ps" to explains why he is confident the deal will happen

Telangana HC slams 'mechanical way' of issuing GST show cause notice

Court says notice for cancelling registration should not be sent out in cavalier manner