India’s first locally-built combat aircraft officially took to the skies on Friday, 33 years after it was cleared for development, marking a long-held goal of cutting expensive imports to build a domestic defence-industrial base.
Aviation turbine fuel (ATF) price was on Friday hiked by 5.5 per cent for the fifth month in a row, but that of non-subsidised cooking gas (LPG) was cut by Rs 11 per cylinder, in line with global trends.
China’s vast factory sector flatlined in June as exports shrank and jobs were cut, a worrying trend evident across Asia that argues for yet more policy stimulus as doubts gather over the potency of measures taken so far.
Since the beginning of the US fracking revolution, oil producers have struggled with a vexing problem: after an initial burst, crude output from new shale wells falls much faster than from conventional wells.
Indian manufacturing activity edged up to a three-month high in June, driven by stronger demand, but firms barely raised prices, a private survey showed, leaving the door open for another rate cut by the central bank this year.
One good rain may not be enough. The above normal monsoon expected this year is unlikely to restore the health of the agriculture sector, as rural indebtness of the farmers would eat away the gains of higher earnings that would have to be spent on repayment of loan.
Growth in the eight core industries slowed to a five-month low of 2. 8 per cent in May indicating that industrial production will remain subdued due to weak demand
The central board of direct taxes (CBDT) has notified the foreign tax credit or FTC rules allowing corporate houses to claim credit for tax, surcharge and cess paid on overseas
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