Business News Asia
KUALA LUMPUR, Malaysia – In the face of an acute egg shortage, Malaysia is turning to India for imports as feed prices soar and small farmers cut production rates. India is set to export a record 50 million eggs this…
The Reserve Bank of India (RBI) is reportedly buying dollars through state-owned banks to prevent the rupee from appreciating above the psychological level of 81 rupees per dollar, according to traders cited by Reuters. The rupee last traded at 81.125…
India’s power plants are expected to import more coal this year to keep up with rising demand, as a result of extreme weather conditions and transportation bottlenecks that have affected domestic coal supply. India’s rapidly growing economy has led to…
India imported 79% less gold in December than a year earlier. It reached its lowest level in at least two decades in December as domestic gold prices hover near record highs, leading to lower demand. The Indian government said today…
According to the Federation of Automobile Dealers Associations (FADA), festivals and weddings in India are boosting car sales. The country’s total was up 26% in November from a year earlier. The FADA report shows that sales of three-wheelers increased the…
The Reserve Bank of India (RBI) has raised its key interest rate (repo rate) by 0.35% to 6.25%, marking the fifth consecutive rate hike this year. It is believed that inflation may have peaked and there are renewed concerns about…
The World Bank said yesterday (Dec. 6) that the Indian economy will grow 6.9% this fiscal year and is in a strong enough position to overcome global obstacles. India, Asia’s fourth-largest economy, grew 6.3% in the July-September quarter, while GDP…
India’s Department of Foreign Trade (DGFT) said Tuesday that the Indian government has lifted a ban on the export of organic non-basmati rice, including broken rice, imposed nearly three months ago. The lifting of the rice export ban comes after…
According to S&P Global, India’s Purchasing Managers’ Index (PMI) fell to 55.1 in September, a 3-month low from 56.2 in August, due to a decline in demand and power generation. India’s manufacturing growth, while below expectations of 55.8, remained strong…
Gold sales in India are likely to be weak this year. This is because inflationary pressures and bad monsoon weather could worsen farmers’ incomes, reducing their ability to buy gold. The livelihoods of millions of farmers in India depend on…
