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INDIAN ECONOMY
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India's Digital Public Infrastructure (DPI) has emerged as one of the world's 10 highly effective structural reforms, supported by the wide reach of Aadhaar, the scale of Unified Payments Interface (UPI) transactions and the growing use of digital payments by businesses, according to a report by CareEdge Glob...
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Finance Minister Nirmala Sitharaman on Friday called for a mix of public investment, stronger municipal finances, development finance and private capital to build financially sustainable, investable cities in India....
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India has notified the first set of customs duty concessions for imports from New Zealand under the two countries' free trade agreement (FTA), with preferential rates for products including wine, manuka honey, kiwi fruit and sheep meat coming into effect on October 20.
The Finance Ministry's October 16 not...
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China on Friday said it was ready to work with India to address "each other's" economic and trade concerns after Finance Minister Nirmala Sitharaman criticised Beijing's restrictions on market access for the country's products, which she said were contributing to the widening trade deficit.
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US President Donald Trump’s decision to waive threatened tariffs of up to 100% on countries buying Russian oil offers India temporary relief but leaves New Delhi exposed to renewed pressure from Washington, the Global Trade Research Initiative (GTRI) said on Saturday.
The think tank said the waiver could...
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India's foreign exchange reserves have fallen by roughly $60 billion over the past six weeks as the Reserve Bank of India (RBI) aggressively sold dollars to prop up the rupee, one of Asia's worst-performing currencies.
On October 9, the RBI's foreign exchange reserves stood at $726.027 billion, down from t...
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Indian exporters frontloaded shipments to the US in September amid the threat of tariffs of up to 100% under the Sanctioning Russia and Iran Act, pushing exports to the country up 48% year-on-year to $8.02 billion....
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India’s services exports declined 0.87% year-on-year to $36.35 billion in September from $36.67 billion a year earlier, raising concerns amid weak demand in Western markets and the growing impact of artificial intelligence on traditional outsourcing. The moderation in the pace of services exports coincides wi...
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US President Donald Trump has waived several sanctions and trade penalties under a new law targeting Russia and buyers of its oil and gas, while retaining the power to restore the measures, the White House said. These measures include trade penalties linked to Russian oil and gas purchases. For India, the wai...
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MARKET & FINANCE
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India’s foreign exchange reserves declined by $8.578 billion to $726.027 billion in the week ended October 9, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous reporting week, the country’s forex kitty had fallen by $12.952 billion to $734.606 billion. India’s foreign ex...
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Indian government bonds nursed losses for a ninth straight week, battered by the Reserve Bank of India's rupee defence, which has sharpened its tightening bias, clouded the policy outlook and sapped demand for debt.
The benchmark 6.94% 2036 bond yield rose around8 basis points this week to 7.3789%, extendi...
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US Treasury and German government bond yields fell to their lowest levels in several weeks on Thursday as investors appeared to shift their attention from inflation to concerns about the impact of high borrowing costs on economic growth. ...
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GLOBAL CORPORATE
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ExxonMobil signaled on Friday that higher refining margins during the third quarter could boost its downstream profit by $4.5 billion compared with the previous three months.
Refining margins have soared due to the ongoing Iran war, which has restricted energy exports through the Strait of Hormuz, as well ...
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The European Commission will propose curbs on imports from China going beyond the safeguard measures it agreed with Beijing to halve inbound shipments of Chinese hybrid cars, European Commission President Ursula von der Leyen said on Friday....
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Mexico said on Friday that a new five-year tariff break for imported car parts will apply only to automakers that already have production facilities in the country.
The clarification comes several days after industry analysts raised questions about the decree's potential to open the door to Chinese brands ...
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World Bank President Ajay Banga on Friday set a target to quintuple the institution's critical minerals business over five years, with a new financing plan targeting $19 billion in the sector during fiscal 2026-2030, up from $3.6 billion in the previous five-year period, as the development lender looks to bui...
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Gulf economies have taken a massive hit amid the West Asia conflict — with airspace closures triggering multibillion-dollar losses. The International Monetary Fund has also warned of a 0.3% economic contraction across the Middle East and Central Asia region as the conflict remains deadlocked and attacks conti...
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GLOBAL ECONOMY
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Economic activity in Brazil rose by a seasonally adjusted 0.3% in August from the previous month, a central bank index showed on Friday, matching the median forecast in a Reuters poll of economists.
• The IBC-Br index, a proxy ...
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US import prices increased more than expected in September, boosted by higher costs for energy products and a range of other goods, further evidence of rising inflation pressures as the Middle East conflict persists....
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The head of the IMF on Friday appealed to global leaders to cooperate in the face of multiple economic risks, including rapid advances in AI and a prolonged war in the Middle East, as Washington hailed what it sees as US-led econo...
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The artificial intelligence boom is setting off a global race for money, forcing central bankers to contemplate a future in which interest rates stay higher and governments need to tighten their belts after an era of largesse.
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US factory production increased in September, but lost considerable momentum in the third quarter amid headwinds from the Middle East conflict, which has snarled supply chains and raised energy prices.
Manufacturing output reb...
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Brazil's Finance Minister Dario Durigan said on Friday that specific credit lines could be unveiled by the government for companies affected by a consumer tax reform and the end of the six-day work schedule, which take effect next...
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The US budget deficit rose by $217 billion to $1.99 trillion in the 2026 fiscal year, fueled in part by tariff refunds and record spending to service the nation's more-than $40 trillion in debt, marking the largest budget shortfal...
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INDIAN CORPORATE
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HDFC Bank on Saturday reported a 4.7 percent year-on-year increase in standalone net profit to Rs 19,510 crore for the second quarter of FY27, broadly meeting market expectations. The private sector lender's net interest income (N...
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Axis Bank on Saturday reported a 37.6 percent year-on-year increase in net profit to Rs 7,003.3 crore for the second quarter of FY27, falling short of market expectations. The private sector lender's net interest income (NII) rose...
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Nestle India’s fourth consecutive quarter of double-digit revenue and profit growth has done little to reassure investors, with shares falling more than 8% over two sessions on Thursday and Friday as concerns over inflation, deman...
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Canada-based subsurface engineering firm VZFOX announced it is set to enter the Indian market, as the country looks to strengthen domestic energy production and reduce its high dependence on imported crude....
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Punjab National Bank (PNB) on Friday reported its highest-ever quarterly net profit of Rs 5,532 crore for the September quarter, up 12.8% year-on-year, aided by higher interest income and improving asset quality. Net interest inco...
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Urban Company’s consolidated net loss widened to Rs 182.5 crore in the second quarter of FY27, from Rs 59.3 crore a year earlier, as expenses outpaced revenue growth, according to a stock exchange filing on Friday. Consolidated re...
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GST
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The GST Council, in its 57th meeting has recommended extending e-invoicing to domestic supplies received from an unregistered person where the tax is payable under reverse charge mechanism, as well as to the import of services, for taxpayers having aggregate annual turnover of Rs. 5 crore and above. According...
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