China's exports surged 12.4% in March, driven by businesses anticipating higher US tariffs, while imports declined by 4.3%. The trade surplus with the US reached $27.6 billion for March and $76.6 billion for the quarter. President Xi Jinping is visiting Southeast Asian nations to bolster trade ties amid ongoing trade tensions and tariff adjustments.
Related news
Vedanta Aluminium clinched the second spot in the S&P Global Corporate Sustainability Assessment for the aluminium sector worldwide, achieving a global score of 77. This marks the fourth consecutive year the company has ranked among top global entities for its robust Environmental, Social, and Governance practices.
The Centre has named 20 priority countries and 6 focus sectors to enhance exports, with a strategy meeting held with Indian Mission officials to boost trade. Additionally, over 5,000 startups have closed, but the overall startup ecosystem continues to grow with the recognition of over 1,57,000 startups.
The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
Venture capital investments in India saw significant growth from January to November 2024, reaching $16.77 billion across 888 deals. The technology sector secured $6.50 billion. In China, VC funding activities experienced a decline, with a disclosed funding value of $32.3 billion across 2,313 deals.
Electric vehicle maker OPG Mobility, formerly Okaya EV, plans to raise around Rs 400 crore in the next 18-24 months to expand its product portfolio and network. The company is set to launch two electric scooters, one electric motorcycle, and new three-wheeler passenger products this year, while also increasing its sales and service network across India.
ICAI may review IndusInd Bank's financial statements after the bank disclosed a Rs 2,100 crore discrepancy in its derivatives portfolio. This issue could impact 2.35% of the bank's net worth by December 2024, as per the bank's internal review. ICAI's Financial Reporting Review Board is expected to assess compliance with accounting and auditing standards.
Cryptocurrency trading is booming in smaller Indian cities, attracting investors under 35. Meme coins like Dogecoin and SHIB are gaining popularity despite high taxes. Global crypto markets surged after pro-crypto US President Trump's election and appointment of Paul Atkins to the SEC, boosting Bitcoin's market cap to $2 trillion.
ONGC has appointed BP as a technical partner for enhancing oil and gas production from India's Mumbai High. BP won the 10-year contract, outbidding Shell, and aims to increase output by up to 60%. BP's role involves analyzing field performance and implementing technological improvements.
As geopolitical tensions evolve into new forms, 40 per cent of board members and C-suite executives are are now identifying economic conditions as the most significant risk factor for their organisations over the next two to three years, according to a report by Protiviti.
Government and RBI are considering a 'cooling off facility' to block funds received in bank accounts to combat online frauds. This measure targets mule accounts used in digital payment frauds. Multiple ministries and banks are collaborating to strengthen verification and prevent misuse, making it a top priority for bank CEOs to address this growing issue.