Read daily news briefs on the economic issues collected from different sources.
Exporting factories in India are running at 25-50% capacity and have also reduced the number of shifts from three to one due to falling in demand from several world economies because of record high inflation and stiff monetary antidote dent consumer sentiment. [ET]
US-based lenders and financial institutions have indicated spending cuts which might have a spillover effect on Indian IT companies. Indian software services exporters which are exposed to mortgage lending might also witness an immediate impact. [ET]
The government imposed a 20% export duty on broken rice with an aim to increase domestic availability. China is the largest importer of Indian broken rice, accounting for imports worth 323.93 million dollars of the commodity in the April-July period. [ET]
European Nations determined to roll out a 15% minimum tax to ease the population from dramatically increasing energy costs that could dump millions into cold and poverty over the winters. [ET]
Neeraj Chopra with a victory throw measuring 88.44m becomes the first Indian to win the Diamond league trophy. [ET]
Editors:
Alok Aditya (Junior Research Fellow at ISEC)
Anuradha (Research Assistant at ADRI)
Note: BL – Business Line, BS – Business Standard, FE – Financial Express, ET – Economic Times