Author: NNI Editor
Prices of cooking oil could be buoyed up for years by stagnating production and a biodiesel push in top producer Indonesia that are making traditionally cheap palm oil costlier, eliminating an advantage that also curbed prices of rival oils.Used in everything from cakes and frying fats to cosmetics and cleaning products, palm oil makes up more than half of global vegetable oil shipments and is especially popular among consumers in emerging markets, led by India.After decades of cheap palm oil, thanks to booming output and a battle for market share, output is slowing and Indonesia is using more to make…
Ananya Shanbhag, Suchitra Mattai, Adam J. Graves and Sajda Pathan pose on the red carpet during the Oscars arrivals at the 97th Academy Awards in Hollywood, Los Angeles | Photo Credit: Reuters As actor Ananya Shanbhag shone on the 97th Oscars red carpet in her ivory and gold corset and skirt ensemble, designer Poornima Indrajith couldn’t help but smile. “She was so excited, she felt the dress turned out better than she had imagined. She would call from the Oscars venue at 3am IST to share the attention the dress was drawing,” laughs Poornima. Ananya, a 21-year-old performing arts student, from…
Olfa Meriah stands, frustrated, before a smartphone shop near the capital Tunis. How can she buy a phone in instalments, she wonders, when a new banking reform has made split payments nearly impossible?In Tunisia, where the average monthly salary hovers just around 1,000 dinars ($320), people have long relied on post-dated cheques to make purchases by paying in increments over months.Unlike many other countries where cheques are now rarely seen in the era of instant online payments, the culture of paying by cheque persists in Tunisia.But as part of banking reforms introduced in February the government seeks to reinforce the…
Five years after the World Health Organization first described the COVID-19 coronavirus outbreak as a pandemic, its effects are still being felt on the global economy.COVID-19 and efforts to contain it triggered record government debt, hit labour markets and shifted consumer behaviour. Inequality has increased, while remote work, digital payments and changes in travel patterns have endured.Though the immediate shock has passed, COVID-19’s legacy continues to reshape global economies and markets.Here are some of the main impacts.Debt, inflation and interest ratesAfter countries borrowed money to protect welfare and livelihoods, global government debt has risen by 12 percentage points since 2020,…
Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The government on Monday (March 10, 2025) sought Parliament nod to spend net additional ₹51,462.86 crore in the current financial year ending March, with a large chunk going towards pension and subsidy on fertilizer.The gross additional spending sought by the government is over ₹6.78 lakh crore, of which ₹6.27 lakh crore would be matched by savings and receipts. Parliament Budget Session February 13, 2025 highlightsThe net additional spending by the government would be ₹51,462.86 crore in the current fiscal, as per the second batch of Supplementary Demands for Grants tabled…
The Finance Ministry has invited applications to fill up the post of Insurance Regulatory and Development Authority of India (IRDAI) Chairperson, as the incumbent chief Debasish Panda’s term ends on March 13. Last date for submission of applications for the post is April 6, 2025. Mr. Panda, who had served as secretary in the Department of Financial Services under the Finance Ministry, took charge as IRDAI Chairman on March 14, 2022, for a three-year period. As per an advertisement notification issued by the IRDAI, the applicants should preferably have at least 30 years of relevant work experience, should have worked as Secretary to…
In a letter to IPL chairman Arun Dhumal (in picture) Director General of Health Services Atul Goel said cricket players, who are role models to the youth of India, should not be directly or indirectly connected to any form of tobacco or alcohol advertising.. File photo | Photo Credit: The Hindu The Healthy Ministry has instructed the Indian Premier League to ban all forms of tobacco and alcohol promotions, including surrogate advertisements, during the tournament beginning March 22. In a letter to IPL chairman Arun Dhumal, Director General of Health Services Atul Goel said cricket players, who are role models…
Water treatment plant. Image used for representative purpose only. | Photo Credit: Special Arrangement India has imposed anti-dumping duty of up to $986 per tonne for five years on a chemical, used for water treatment, imported from China and Japan to protect the domestic industry from cheap inbound shipments, according to a Finance Ministry notification.The decision follows recommendations from the Directorate General of Trade Remedies (DGTR), an investigation arm of the Commerce Ministry, to impose the duty on ‘Trichloro isocyanuric acid’.In its recommendations, the directorate has stated that the domestic industry has suffered material injury due to the dumped imports…
Three online gaming industrial bodies have jointly released a Code of Ethics aiming to enforce consistent standards of user safety across the industry. | Photo Credit: Getty Images/iStockphoto Industry bodies representing online real money gaming companies — All India Gaming Federation (AIGF), the Federation of Indian Fantasy Sports (FIFS), and the E-Gaming Federation (EGF) — have jointly signed a “code of ethics” which their member companies will adopt for promoting user safety and responsible gaming practices, including KYC verification, spending limit etc, a joint statement said on Monday (March 10, 2025).Explained | How is India moving to regulate online gaming?The…
A plan for Microsoft’s India Development Center (IDC) campus in Noida | Photo Credit: Microsoft Microsoft announced on March 8 that it held the ground-breaking ceremony for its new India Development Centre campus in Noida sector 145, in the presence of Uttar Pradesh Chief Minister Yogi Adityanath.The new campus is set to cover 15 acres and offer 1.1 million square feet of built-up area. The centre will focus on AI advancements, cloud, and security, as Microsoft aims to heavily boost India’s AI sector.“The groundbreaking ceremony of our new Noida campus reflects Microsoft’s continued commitment to advancing responsible AI innovation that empowers…