INDIAN ECONOMY
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India's tourism sector contributed 5.22 per cent to the country's GDP and supported 8.46 crore jobs in 2023-24, as the government highlighted the sector's growing economic role ahead of World Tourism Day on September 27. The government said the expansion of digital platforms and artificial intelligence is als...
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India's GDP growth in the second quarter of FY2026-27 came in significantly above the Reserve Bank of India's (RBI) 7 per cent forecast, prompting expectations of a gradual rate-hiking cycle, according to a HSBC Global Investment Research report.
The report expects the RBI to raise the repo rate by 25 basis ...
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Calling for higher investment in technology, including artificial intelligence, Union Finance Minister Nirmala Sitharaman on Saturday said India could achieve economic growth of more than 10% if these sectors contributed more to the economy.
“Going forward, the next large investments in India’s infrastruct...
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With the southwest monsoon season (June-September) set to end with precipitation below 90% of the benchmark long-period average (LPA), and rainfall distribution remaining highly uneven across regions, yields of several crops, particularly paddy, pulses and oilseeds, are likely to be affected, according to exp...
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Uttar Pradesh is shifting its investment policy towards high-value manufacturing, technology and clean-energy sectors, while putting greater emphasis on project execution, industrial land, logistics and power availability, Chief Minister Yogi Adityanath told Saurav Anand in an exclusive interview. The state h...
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India added 40.9 GW more solar module manufacturing capacity than solar cell capacity in the first half of 2026, highlighting a widening imbalance in the domestic manufacturing chain even as the country rapidly expands its solar production base.
During January-June, 50.6 GW of solar module manufacturing ca...
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MARKET & FINANCE
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The Reserve Bank of India (RBI) net purchased a record $18.65 billion in July, sharply up from a net purchase of $561 million in June, according to the central bank's monthly bulletin.
The July purchase was the highest on record, surpassing the previous high of $18.63 billion recorded in June 2021.
T...
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HSBC Holdings Plc is aiming to challenge India’s private-sector banks, betting that the country’s swelling pool of affluent customers and globally connected citizens can fuel its next phase of growth as it pushes deeper into smaller cities.
The London-based lender is doubling down in the world’s fastest-grow...
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GLOBAL CORPORATE
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PepsiCo will invest $1 billion in Colombia over the next five years, the South American nation's President Abelardo De La Espriella said on Sunday.
• The investments will be aimed at expanding production, modernizing operations and strengthening distribution in the country, the president added.
• “Confi...
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Crude oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the US-Israeli war with Iran started in February, data from Kpler showed on Monday, as Saudi Arabia and the United Arab Emirates boosted exports.
The rebound came following a recovery ...
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A US jury ruled that Apple owes San Diego-based Taction more than $5.7 billion for using its patented technology to power the haptic feedback in iPhones and Apple Watches. Apple said it would appeal the country's largest such verdict to date.
• The jury said on Friday that Apple's Taptic Engine, which crea...
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The US Transportation Department on Monday will finalize sharply lower vehicle fuel economy standards through 2031, reversing a push by the Biden administration to force automakers to build more electric vehicles, officials said on Saturday.
President Donald Trump said he had approved new fuel economy stan...
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The Chinese government has signaled it could allow some domestic companies like ByteDance and Alibaba to buy a new Nvidia chip built for high-end professional computers, The Information reported on Sunday, citing two people familiar with the matter.
China's Ministry of Industry and Information Technology t...
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China said on Monday a two-month extension of a trade truce with the United States would provide space for both sides to evaluate the implementation of their arrangement to resolve economic and trade issues, while considering how to advance on those fronts.
In confirming the extension through to January 10, ...
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The Trump administration on Monday plans to release new fuel economy standards that would relax regulatory requirements for automakers to control pollution from gasoline-powered cars and light trucks.
President Donald Trump said on his Truth Social media account Saturday that the less stringent mileage requi...
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Banking
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IndusInd Bank on Monday announced that it has set up a dedicated banking vertical for Global Capability Centres (GCCs), as India’s GCC base expands and companies increasingly manage technology, engineering, analytics and other functions from the country.
The bank’s new GCC Banking vertical will bring corpo...
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A $133-billion FCNR(B) liquidity bounty could be setting the stage for a lending rate war among banks, as lenders scramble to deploy the funds by chasing quality borrowers, retiring expensive deposits and cutting their dependence on certificates of deposit (CDs).
With credit demand unlikely to immediately ...
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India’s large banks are entering a stronger credit cycle, but BofA Securities sees the recovery playing out differently across State Bank of India, ICICI Bank, HDFC Bank and Kotak Mahindra Bank. The brokerage remains positive on all four, with growth, funding strength, margins and asset quality shaping the ca...
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GLOBAL ECONOMY
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A key gauge of Japan's service-sector inflation rose in August at the fastest annual pace in more than two years, data showed on Monday, highlighting mounting price pressures that will keep the central bank on track for further in...
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Many Bank of Japan policymakers saw the need to focus on mounting inflation risks, with some calling for faster interest rate increases, minutes of their July meeting showed, cementing the case for further hikes to still-low borro...
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China's industrial profit growth slowed further in August as strength in technology manufacturing amid the AI boom was outweighed by persistently weak domestic demand....
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INDIAN CORPORATE
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The losses grew even as revenues at these seven companies rose 30 per cent year-on-year to Rs 2.61 trillion, from Rs 2 trillion in FY25 and Rs 18,270 crore in FY20.
The comparison with FY20, however, is distorted by the subsequ...
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Sun Pharma announced on September 28 the signing of an exclusive agreement with US-based LIB Therapeutics covering manufacture, commercialisation and global licensing of Lerodalcibep, an advanced medication designed to control bad...
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Kalpataru Projects International (KPIL) has received a Letter of Award (LoA) for the Engineering, Procurement and Construction (EPC) of a gas pipeline project in the United Arab Emirates.
Commenting on the win, Manish Mohnot, M...
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JSW Energy said that its subsidiary has ordered two 800 MW steam turbine generators for the second phase of the Salboni Thermal Project in West Bengal. The order has been placed with Toshiba JSW Power Systems, an associate company...
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The Reserve Bank of India has written to Tata Sons twice since September 11, seeking an update on the Tata Group holding company’s plans to comply with the mandatory listing requirement, people aware of the matter said.
Tata So...
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GST
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Over a year after the number of Goods and Services Tax (GST) slabs were reduced to two from four and tax rates were cut across the board for a consumption booster, the GST Council is set to take up comprehensive process reforms in the upcoming meeting on October 7.
These will cover easing of procedure...
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