Trade
India, Saudi Arabia agree to enhance bilateral trade
A joint statement issued during the state visit of Saudi Arabian Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud to India on September 11, said that while praising the growth achieved in trade between the two friendly countries, both sides stressed the importance of continuing joint work to enhance and diversify bilateral trade.
US regulators fine top banks $549 mn over use of WhatsApp, iMessage
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) fined the banks for being unable to produce those “off-channel” employee communications going back to at least 2019. The SEC charged 11 firms for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications.
India's merchandise trade deficit fell to $20.13bn in June
Merchandise exports in June was at $32.97 billion, while imports were $53.10 billion during the same month. During May, merchandise exports were $34.98 billion, while imports were at $57.10 billion. India's exports were down owing to slowdown in major economies of the world, commerce secretary Sunil Barthwal told media persons.
Bitcoin trading volume tanked nearly $700 bn in April
Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3 per cent, way down from 21 per cent in March and much less than gains usually seen in the fourth month of the year, according to data by BitcoinCasinos.com.
Indian-American exec pleads guilty to insider trading
Amit Bhardwaj, 49, the former Chief Information Security Officer at Lumentum Holdings Inc, traded on the misappropriated MNPI himself and tipped his associates with this same information so that they could place profitable trades in Lumentum's acquisition targets, a Department of Justice said in a statement.
India's exports fell 8.8% to $33.88 bn in February, trade deficit narrows
The country's trade deficit, however, narrowed to $17.43 billion in February, according to data released by the Commerce Ministry.
This is the third consecutive month when exports have fallen. Imports also witnessed a fall by 8.21 per cent to $51.31 billion compared to $55.9 billion recorded in the corresponding month last year.
India's trade deficit widens to $24 bn in Dec, exports fell 12%
Merchandise export also fell in December 2022 by 12 per cent to $34.48 billion as against $39.27 billion in the corresponding period of last year. Imports in December 2022 also witnessed a fall to $58.24 billion as against $60.33 billion of the corresponding period of last year.
Reduction in oil import bill narrows down India's trade deficit in Nov
The trade deficit narrowed month-on-month (MoM) in November to $23.89 billion as against $27.58 billion in October, while up only 13 per cent year-on-year (YoY), said Amnish Aggarwal, Head-Research, Prabhudas Lilladher.
UK trade secretary in India to resume FTA negotiations
Both the leaders are expected to begin the sixth round of FTA negotiations. The negotiations would aim to cut tariffs and facilitate financial and legal services by UK in India. Badenoch will also meet business leaders to seek their feedback regarding the trade pact.
Markets likely to make new lifetime highs this week
Friday saw markets gain close to 1,180 points on BSESENSEX and 320 points on NIFTY. This not only wiped out the losses but also helped in the week closing with gains. BSESENSEX gained 844.68 points or 1.39 per cent to close at 61,795.04 points while NIFTY gained 232.45 points or 1.28 per cent to close at 18,349.70 points.
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