BUSINESS
FTA offers huge benefits for British businesses: Boris Johnson
Ahead of the launch of the FTA negotiations, British Minister Boris Johnson said: "A trade deal with India's booming economy offers huge benefits for British businesses, workers and consumers. As we take our historic partnership with India to the next level, the UK's independent trade policy is creating jobs, increasing wages and driving innovation across the country."
Shortages at US grocery stores increasing: state media
The shortages impact produce, meat, and packaged goods such as cereal, the report said, adding that the shortages are widespread and are being reported nationwide, Xinhua news agency reported. US groceries typically have 5 to 10 per cent of their items out of stock at any given time and currently the unavailability rate is hovering around 15 per cent, the Consumer Brands Association President and CEO, Geoff Freeman was quoted as saying.
India's share of global merchandise exports at an all-time high
Gains in commodities may not last, but momentum should persist in electronics (large market size, opportunities for share gains, policy support) and specialty chemicals (a decade of steady growth has brought scale to firms).
KFC faces boycott in China for encouraging excessive purchase of meal sets
The China Consumers Association (CCA) says the promotion sent some customers into a buying frenzy. KFC launched the promotional campaign last week with Pop Mart, a Chinese toy maker known for its mystery boxes.
US fundraise at highest since 2003 to beat interest rate hikes
In the early days of the year, corporations have been racing to issue debt. Their aim is to tap the market before the Federal Reserve starts hiking interest rates, which have been near zero since the start of the pandemic, the report said.
Global economy projected to grow by 4% in 2022, 3.5% in 2023: UN report
The UN WESP 2022 was launched on Thursday. The report said that the global economic recovery is facing significant headwinds amid new waves of Covid-19 infections, persistent labor market challenges, lingering supply-chain challenges and rising inflationary pressures.
The robust recovery in 2021 -- driven by strong consumer spending and some uptake in investment, with trade in goods surpassing pre-pandemic levels -- marked the highest growth rate in more than four decades, the report highlighted.
'India's recovery is on a solid path', is world's top economic performer: UN report
The UN's annual World Economic Situation and Prospects (WESP) report estimated the growth rate of India's gross domestic product (GDP) at 9 per cent last year and forecast it to moderate to 6.7 per cent this year and 6.1 per cent next year but still retain the highest growth rates among the large economies.
Omicron could push air traffic recovery into fiscal 2024: Crisil
The agency had earlier expected the full recovery to happen in fiscal 2023. It said that a material impact on the credit quality of airport operators, however, is unlikely as the dip in revenue is expected to be limited by a likely strong rebound, and the operators have adequate debt servicing cushions, liquidity buffers and financial flexibility to absorb the blip in traffic.
Tata Teleservices stocks hit 5% lower circuit for 2nd straight session
Post conversion of dues into equity, the Centre is expected to hold a 9.5 per cent stake in the company, it said in a regulatory filing on Tuesday. The conversion, however, will be subject to a mutual agreement on the terms and conditions, including the governance of the company post-conversion of the interest amount into equity shares, it added in the same filing.
TSMC to invest record $44 bn on chip capacity expansion in 2022
In its latest earnings release, the Taiwanese firm said it expects capital spending to be between $40 and $44 billion in 2022, up from a previous record of $30 billion in 2021. According to a report in Nikkei Asia, the announcement puts "the chipmaker on track to meet its plan of investing $100 billion over the three years till 2023".
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