Browsing: Business

Experts highlight India’s 7.8% growth in Q1 as Modi lauds first quarter achievements NEW DELHI, INDIA / RankWire.AI / – Prime Minister Narendra Modi commended India’s economic expansion of 7.8% in the April to June quarter of fiscal 2026-27. Recent official figures demonstrated sustained strength across sectors including manufacturing, services, consumer spending, and investment. Modi called this growth rate a “herculean feat,” especially amid global economic challenges. He pointed to oil price shocks, supply chain interruptions, and broader uncertainty as the main hurdles confronting the economy. The Prime Minister also attributed the resilience and dedication of India’s population for the positive results.India opened FY27 with 7.8% GDP growth backed by gains across major economic sectors. During the first quarter, India’s real gross domestic product reached ₹81.36 lakh crore, according to the Ministry of Statistics and Programme Implementation. This figure was ₹75.46 lakh crore in the same period last year. Nominal GDP saw a 10.3% rise, reaching ₹88.27 lakh crore from ₹80 lakh crore. The real gross value added increased by 8.2% to ₹73.82 lakh crore. Meanwhile, nominal GVA jumped 11.5% to ₹80.53 lakh crore, reflecting higher output at current prices. Manufacturing grew by 9.2% year-on-year, making it one of the key drivers of the

Japanese equities experienced significant downward pressure on Monday, with the Nikkei 225 falling almost 2% during early trading sessions. The index declined 1.97% to 65,096.63, subsequently hitting an intraday low of 64,832.10. Technology stocks bore much of the brunt as traders responded to climbing bond yields and expectations of tighter interest rate policies. Meanwhile, the broader Topix index also softened initially, dropping 0.84% to 4,111.71.

Indonesia links sports industry investment with risk-based licensing and OSS services. Under this new arrangement, the Ministry of Investment and Downstreaming and the Ministry of Youth and Sports will work together on licensing procedures, investment promotion, and providing business services. Their joint efforts extend to regulatory oversight, ensuring compliance, and facilitating the exchange of licensing data. Indonesia’s use of the Online Single Submission system, known as OSS, allows for streamlined processing of business permits within its risk-based framework. The memorandum integrates investments in the sports sector into this digital structure.

The UAE and Egypt have officially activated a five-year wheat supply contract valued at up to US$500 million. Al Dahra Agriculture Trading is responsible for delivering imported wheat to Egypt’s General Authority for Supply Commodities under this arrangement. The transaction will be financed through the Abu Dhabi Exports Office. This agreement formalizes a framework established in 2023 and defines the terms for wheat transactions between Al Dahra and GASC over the next five years.

Oil prices rebound as Brent and WTI recover after Monday’s sharp decline. Brent closed on Monday at $92.17 per barrel, marking a decrease of $2.22 or 2.35% from the previous close. WTI ended at $85.01, down $2.05, also representing a 2.35% drop. During trading, the U.S. benchmark touched its lowest point in a week. Prices had been climbing over the prior two weeks before reversing course as traders responded to new U.S. measures related to Iran. Market attention remains fixed on supply dynamics influenced by ongoing conflicts involving the United States, Israel, and Iran.

Alibaba Group has announced the pricing of a HK$80 billion share issuance as part of its strategic push into artificial intelligence and cloud technology. The tech giant will issue 710 million new ordinary shares at HK$112.70 each, which based on current exchange rates, translates to approximately US$10.2 billion. The company expects the deal to conclude on Aug. 26, pending standard closing conditions. The funds are earmarked specifically for expanding investments in its AI operations.

South Korean authorities prepared the vessel and crew for the challenging conditions anticipated along the northern route. Navigation officers underwent specialized polar waters training prior to departure. An experienced polar navigator, who previously served on the Araon icebreaking research vessel, joined as chief officer. Additionally, organizers addressed key issues such as insurance coverage, emergency protocols, and international shipping regulations. A 24/7 communications system will maintain contact with the vessel throughout the Arctic segment of the journey. This voyage serves as an operational data collection effort by the Ministry of Oceans and Fisheries, aiming to monitor real-world performance metrics from an active container ship. Data gathered will include sailing distances, transit durations, fuel consumption, and operating costs. The trial also seeks to assess cargo demand and logistical requirements specific to Arctic container transportation. While South Korean shipping firms have previously utilized Arctic routes with different vessel types, this expedition signifies the first container ship trial in the Arctic and the first Korean Arctic shipping endeavor since 2016. Operational Monitoring of Costs, Timelines, and Procedures Preparatory steps were taken to ensure the success of South Korea’s first Arctic container ship voyage.

CBE policy rates remain unchanged as Egypt reports 14.9% annual urban inflation. The last adjustment by the Monetary Policy Committee occurred on February 12, when it reduced the policy corridor by 100 basis points. This move lowered the deposit rate to 19% and the lending rate to 20%, with the main operation and discount rates also decreasing to 19.5%. After that, policymakers paused, holding rates steady during meetings in April, May, and July, before reaffirming the unchanged stance in August. Inflation data continued to influence the latest monetary policy decisions. In July, annual urban headline inflation rose to 14.9% from 14.3% in June. Similarly, annual core inflation increased to 14.7% from 14.3% within the same period. Notably, both headline and core consumer prices did not show any monthly growth in July. The central bank noted that part of the annual increase was due to unfavorable base effects. Economic performance also played a significant role in the policy outlook. According to the central bank’s data, real gross domestic product expanded by 5% during the first quarter of 2026. The bank suggested that economic activity slowed down somewhat in the second quarter and projected an average real GDP growth rate of about 5% for the fiscal year 2025-2026. Additionally, it indicated that current output levels are still below the economy’s potential in the near term. Egypt’s foreign currency reserves continued

Japan achieved unprecedented trade figures with both imports and exports hitting all-time highs in July 2026. Imports rose by 27.8% to approximately 12.15 trillion yen, while exports increased by 23.2% to around 11.51 trillion yen. The Ministry of Finance reported a trade shortfall of 634.5 billion yen, driven by a surge in energy expenses and robust demand for technology products. The depreciation of the yen further boosted the yen value of overseas sales, amplifying Japan’s overall export gains.

U.S. equities closed higher on Wednesday, buoyed by a notable decline in long-term Treasury yields that boosted market sentiment. The S&P 500 increased by 16.22 points, or 0.21%, finishing at 7,707.98. The Dow Jones Industrial Average rose by 119.65 points, or 0.22%, ending at 53,463.05. The Nasdaq Composite gained 41.38 points, or 0.16%, to close at 26,331.09. These gains marked the end of a three-day losing streak for all three principal U.S. indexes.