Economy News ( English version)

Meta shares drop as Q2 profit declines due to legal expenses and severance costs

QUALCOMM-RESULTS/ (PIX):Qualcomm forecasts weak quarterly profit, expects Apple revenue drop to accelerate

Airbus SE, the world’s largest planemaker, is looking for ways to play a bigger role in fighting wildfires as flames engulf parts of France and Spain, forcing hundreds of thousands of residents and tourists to evacuate.

Cognizant cut its guidance for the year to at best 5.9%, the lowest outlook since the final quarter of 2024, underlining the demand challenge over the broader IT services sector.

The paint-maker reported a 40% profit growth and surpassing Street estimates, but retained its 8-10% demand growth and 18-20% Ebitda margin guidance as geopolitical tensions and raw material volatility cloud the outlook.

The Fertiliser Association of India seeks higher subsidy rates for the upcoming Kharif season. Raw material prices have significantly increased, impacting domestic fertiliser production viability. Industry leaders met to review the Middle East crisis's effect on key input costs. Existing subsidy rates have not kept pace with the changed cost environment […]

The government plans to resume selling subsidized Bharat Atta and Bharat Rice soon. This initiative aims to provide staples at lower prices before the festival season. The Ministry of Consumer Affairs has allocated significant quantities of wheat and rice for this purpose. Bharat Rice will be priced at ₹35 per kg initially, with a slight increase later.

India's services sector expanded broadly in May, with sixteen of nineteen tracked sectors showing growth. Accommodation and food services, real estate, and retail trade emerged as fastest-growing segments. The new Index of Service Production showed this broad-based expansion across many areas. Calculations suggest services output grew by 9.8% in May, mo […]

Global uncertainties resurface, impacting the worldwide economic outlook significantly. Resilient domestic demand continues to support India's growth momentum. The nation must reinvent itself and reimagine responses to these challenges. Upside risks to inflation and deficits persist, while growth faces downside risks. Swift policy responses and reforms […]

Importers are urging the government to approve new tur and urad supplier destinations. Brazil is attempting to cultivate tur for India, with a small harvest expected soon. The trade sector is also working to expand tur cultivation to Australia. India has been seeking to reduce import reliance on a few countries. This move aims to ensure a stable supply of pu […]