Walmart shifts to India and cuts China imports
TORONTO : Walmart is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows.
Arsenio Dominguez Velasco confirmed as next IMO Secretary-General
LONDON : IMO Assembly approves decision of Council to appoint Mr. Dominguez Velasco as Secretary-General with effect from 1 January 2024 Mr. Arsenio Antonio Dominguez Velasco has been confirmed as the next Secretary-General of
Global economy will slow down next year : OECD
WASHINGTON : The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates.The Paris-based Organization for Economic Cooperation
Chipmaking proposals worth $8-12 bn of investments in the pipeline : IT Minister Ashwini Vaishnaw
BENGALURU : At least three semiconductor units, including packaging and fabrication, will bring in a cumulative investment of $8 billion – $12 billion under the government’s capex-linked incentive scheme for the chip industry in
Finance Ministry may assume nominal GDP growth at 11% for FY25
NEW DELHI : The Finance Ministry may peg nominal gross domestic product (GDP) growth at around 11 percent for the next financial year, about 50 basis points higher than the estimate for 2023-24, a
BRICS : UAE to ditch US Dollar in new oil deals
ABU DHABI : The BRICS economic alliance has seemingly prioritized its de-dollarization efforts, leading the United Arab Emirates (UAE) to seemingly prioritize local currency over the US dollar in new oil deals. Indeed, the country is
Vinay Kwatra meets Iranian foreign minister in Tehran, discusses Chabahar Port project
TEHRAN : Foreign Secretary Shri Vinay Kwatra on Sunday discussed with Iranian Foreign Minister Hossein Amir-Abdollahian in Tehran about the ways to boost connectivity through strategic Chabahar Port and the current situation in West Asia arising out of
‘China slows, India grows’: S&P pegs 7% GDP growth for India by 2026
NEW DELHI : India’s GDP growth rate will rise to 7 per cent by 2026 compared to 4.6 per cent for China, S&P Global Ratings said on Tuesday. In a report titled ‘China Slows,