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Spread the love ASIA: U.S. Trade Representative Katherine Tai said on Wednesday she expects to engage “in the near term” with Chinese officials to assess their implementation of the “Phase 1” trade deal between the two countries, with the outcome to influence the fate of Washington’s punitive tariffs on Beijing. Tai told that she respects the need for continuity in U.S.-China trade policy, including the two-year trade deal implemented last year by the Trump administration. India’s oil imports in March rose from the previous month, buoyed by an upturn in economic activity that could take a knock again because of renewed lockdowns in the world’s third-largest crude importer. Crude imports rose 7.3% from February to 18.26 million tonnes, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed, although imports were still down about 6.5% year on year. India’s annual crude imports fell nearly 13% in the fiscal year 2020/21 to 198.11 mil ....
Spread the love ASIA: The International Monetary Fund (IMF) raised its FY22 growth forecast for India to 12.5% from 11.5% estimated earlier in January, even as a resurgent Covid spread threatens to undermine the country’s economic recovery. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9% in 2022. China, the only major economy to have a positive growth rate in 2020 of 2.3%, is expected to grow by 8.6% in 2021 and 5.6% in 2022. The major Asian stock markets had a mixed day today: NIKKEI 225 increased 34.16 points or 0.12% to 29,730.79 ....
Spread the love ASIA: The Chinese government is set to kick off an annual parliamentary meeting this week for approving national priorities for 2021. The “Two Sessions” parliamentary meeting is slated to begin Thursday with the opening of the Chinese People’s Political Consultative Conference, an advisory body. The National People’s Congress legislature is scheduled to kick off its annual gathering on Friday. Authorities are expected to lay out details on topics ranging from employment targets to management of the semi-autonomous region of Hong Kong. India is ready to offer incentives to ensure Tesla Inc’s cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, Reuters reported. Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 ele ....
Rupee settles 6 paise higher at 73.11 against US dollar SECTIONS Last Updated: Jan 06, 2021, 04:23 PM IST Share Synopsis The local unit finally settled at 73.11, registering a rise of 6 paise over its previous close. ETAuto Meanwhile, the dollar index, which gauges the greenback s strength against a basket of six currencies, fell 0.15 per cent to 89.30. Related NSE Explore Now The rupee appreciated by 6 paise to close at 73.11 (provisional) against the US dollar on Wednesday, supported by sustained foreign fund inflows and weaker American currency against key rivals. At the interbank forex market, the domestic unit opened at 73.16 against the US dollar and witnessed an intra-day high of 73.05 and a low of 73.19. ....