India’s Direct Tax Collection Surges
India’s direct tax collection has witnessed a significant surge, reaching a staggering ₹18.9 trillion (approximately $227 billion), marking a strong 20 per cent increase as reported by the Central Board of Direct Taxes (CBDT).
RBI Forecasts 8% Economic Growth
In a recent report by the Reserve Bank of India (RBI), the country’s economic prospects have been painted with a bright hue, forecasting sustained GDP growth of 8 per cent.
India’s Exports Projected to Reach $450 Billion
India’s merchandise exports are poised to surge to $450 billion by the end of this fiscal year, despite facing geopolitical hurdles such as the Red Sea crisis, as stated by Ashwani Kumar, the newly elected president of the Federation of Indian Export Organisation (FIEO).
Airbus CEO Concerned About Boeing’s Technical Issues
In a recent statement at the “Europe 2024” conference in Berlin, Guillaume Faury, the CEO of Airbus, expressed his deep concern over the ongoing technical issues faced by its American rival, Boeing.
Biden Administration Eases EV Mileage Rule
In a significant move that marks a victory for Detroit automakers, the Biden administration has announced a relaxation of proposed rules that would have imposed strict requirements on manufacturers regarding the production of electric vehicles (EVs).
Mainland Chinese Investors Impact Hong Kong Property Market
Following the removal of additional stamp duties on foreign buyers, mainland Chinese investors are flocking to Hong Kong’s property market, marking a significant shift after a prolonged period of subdued activity.
Boeing Considers Acquisition of Spirit AeroSystems
As Boeing explores a potential acquisition of Spirit AeroSystems, discussions are underway regarding the fate of Spirit’s ties to Airbus, posing complexities for Boeing’s strategic plans.
EU Antitrust Chief Warns Apple and Meta
Margrethe Vestager, the European Union’s antitrust chief, issued warnings to tech giants Apple and Meta Platforms regarding their new fee structures and practices that may undermine competition and consumer choice.
Nordstrom Family Contemplates Privatisation
The founding family of Nordstrom Inc is reportedly exploring the possibility of taking the US department store operator private, Reuters quoted sources familiar with the matter.
