Elections could hinder Sri Lanka's economic growth: ADB
"Inflation decelerated in single digits last year following a peak in 2022 and will remain below 10 per cent in 2024 and 2025. Challenges remain, and the upcoming electoral cycle must not delay the reforms required to address the recent economic crisis. Sri Lanka needs to address vulnerability to poverty to ensure inclusive growth," the ADB report cautioned.News Arena Network - New Delhi - UPDATED: April 12, 2024, 06:01 AM - 2 mins read
Economy
See AllJuly 1, 2024, 10:40 PM - 2 mins read
The slide in banking and financial services overshadowed a more than 1% gain in information technology stocks. Among the top gainers on the Nifty50 were Infosys, Coal India, LTIM, Wipro, and ONGC. On the flip side, the top losers included HDFC Life, Kotak Mahindra Bank, Shriram Finance, Bajaj Finance, and SBI Life.
Read moreJuly 1, 2024, 12:13 PM - 3 mins read
The GST and Central Excise Commissionerate in Coimbatore celebrated 'GST Day' with a grand event attended by numerous dignitaries and officials. N Rengaraj, IRS, the Principal Commissioner of Income Tax in Coimbatore, served as the Chief Guest, while SK Sundararaman, Managing Director of M/s Shiva Texyarn Limited and Chairman of The South India Mills Association, was the Guest of Honour.
Read moreJuly 1, 2024, 03:27 AM - 3 mins read
The report quotes NITI Aayog, stating that in the past decade, India has seen a significant reduction in poverty. The proportion of people living in poverty in "all its dimensions" decreased to 14.96% in 2019-21 from 24.85% in 2015-16. This reduction is attributed to sustained economic growth during the period (6.7% average growth between FY16-FY20) and the implementation of various welfare schemes focused on nutrition, health, education, housing, drinking water, sanitation, skill development, and social protection.
Read moreJuly 1, 2024, 02:21 AM - 2 mins read
The Oil Marketing Companies on Monday announced a reduction of Rs 30 in the prices of 19-kilogram commercial LPG cylinders across the country, including metro cities such as New Delhi, Mumbai, Kolkata, and Chennai. The revised rates have come into effect immediately.
Read moreJuly 1, 2024, 02:04 AM - 2 mins read
Fintech startup Simpl reported a 40% surge in consumer spending during India's victory in the ICC T20 World Cup final, reflecting increased quick commerce transactions. Indians showed significant online spending support post-India's victory, with peak activity from 8 pm to 11 pm.
Read moreJuly 1, 2024, 12:37 AM - 2 mins read
At about 12 pm, the Sensex was up 0.45 percent at 79,387, while the Nifty was up 107 points at 24,118. Around 2,391 shares advanced, 1,031 shares declined, and 125 shares remained unchanged. India VIX, which measures near-term volatility, inched up by a percent to trade around 14 levels.
Read moreJuly 1, 2024, 12:19 AM - 2 mins read
“As a consequence of ongoing increases in new order intakes, firms stepped up recruitment. The rate of job creation was sharp and the strongest seen since data collection started in March 2005. Staff expenses reportedly intensified in June, which coupled with rising material and transportation costs caused another overall increase in operating expenses,” the report noted.
Read moreJune 30, 2024, 02:31 AM - 4 mins read
At present, the US, China and Japan are the top three markets for Sony globally, followed by India.
Read moreJune 30, 2024, 01:00 AM - 1 min read
In the lead-up to the main event, Bihar will kick off a series of roadshows in various cities, starting with Kolkata on Monday. These roadshows are part of the state's strategy to roll out the red carpet for both domestic and foreign investors.
Read moreJune 29, 2024, 02:31 AM - 2 mins read
The tariff revisions, implemented over a span of two days, aim to monetise new 5G services and mark an end to the prolonged price competition among telecom giants since 2016.
Read moreJune 29, 2024, 02:23 AM - 3 mins read
South Africa earlier this week requested the establishment of two panels at a meeting of the Dispute Settlement Body (DSB) of the World Trade Organisation (WTO) to address the EU’s regulations on two separate plant health issues -- Citrus Black Spot and False Codling Moth.
Read moreJune 29, 2024, 01:24 AM - 3 mins read
This inaugural shipment of the season marks the fruition of a strategic Memorandum of Understanding (MoU) between the Meghalaya State Agriculture Marketing Board and Lulu Group International.
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