The European Union on Wednesday rolled out a multi-billion-euro strategy to reduce its dependence on China for rare earths, unveiling measures to boost domestic mining, refining and recycling capacity amid rising geopolitical pressure on critical supply chains.The plan comes after months of turbulence triggered by Beijing’s export controls, according to AFP, which have disrupted manufacturers…
Finance Minister Nirmala Sitharaman (File photo) Finance Minister Nirmala Sitharaman on Wednesday clarified that the International Monetary Fund (IMF) did not question India’s growth figures, and said the Fund’s ‘C’ grade on national accounts stems solely from the use of an outdated base year. She said the IMF, in fact, acknowledged India’s healthy economic performance…
Markets regulator Sebi has introduced a single-window access framework for low-risk foreign investors, aiming to simplify regulatory processes and make India a more attractive investment destination, according to PTI. The new system is designed to streamline compliance, ease multiple registrations and reduce repetitive documentation across investment routes.Called the Single Window Automatic & Generalised Access for…
India and the European Union will hold detailed discussions this week on boosting the security and resilience of undersea cables in the Indian Ocean, weeks before the annual India-EU summit scheduled for January 27 in New Delhi. Cooperation on protecting critical submarine infrastructure is likely to feature prominently at the summit, PTI reported.According to the…
India’s exports posted a healthy rise in November after a sharp fall in October, Commerce and Industry Minister Piyush Goyal said on Wednesday, indicating that outbound shipments had regained momentum despite global volatility. He did not reveal the numbers, with the commerce ministry set to release official data on December 15.According to PTI, Goyal said…
Veteran banker Uday Kotak on Wednesday said the rupee’s fall past the 90-per-dollar mark reflects persistent selling by foreign portfolio investors (FPIs) and private equity funds routing money through the FDI channel, even as domestic investors continue to buy into the market, ET reported. His comments came as the currency extended its eight-month decline against…
NEW DELHI: Income tax refunds are experiencing significant delays this assessment year, with tax professionals reporting extended processing times even for routine cases. Official CBDT data shows personal income-tax refunds have dropped to Rs 88,548 crore by early November compared to Rs 1.42 lakh crore in the same period last year. According to official data…
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Gold prices surged on Wednesday, extending their upward momentum in both domestic and international markets, as a weak rupee and expectations of monetary easing in the United States boosted investor appetite for bullion. The sharp depreciation of rupee, which slipped to an all-time low against the US dollar, played a key role in lifting local…
