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World Bank says Indian economy to grow at 6.3 pct in FY 2023-24

STORY: World Bank says Indian economy to grow at 6.3 pct in FY 2023-24 DATELINE: Oct. 5, 2023 LENGTH: 00:01:39 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of wholesale market 3. various of crop fields and crop harvesting STORYLINE: The World Bank Tuesday said the Indian economy is projected to grow at 6.3 percent in the current financial year. The international financial institution, in its report, said India continues to show resilience against the backdrop of a challenging global environment. India Development Update (IDU), the World Bank's half-yearly report on the Indian economy, observes that despite significant global challenges, India was one of the fastest-growing major economies in FY22-23 at 7.2 percent. "India's growth rate was the second highest among G20 countries and almost twice the average for emerging market economies. This resilience was underpinned by robust domestic demand, strong public infrastructure investment and a strengthening financial s

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Petronas FY22 profit surges to record high on higher oil prices

STORY: Petronas FY22 profit surges to record high on higher oil prices DATELINE: March 15, 2023 LENGTH: 00:02:00 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of KLCC Twin Towers, also known as Petronas Twin Towers 2. various of Petronas logo at its office tower 3. various of crowds filling up petrol at Petronas oil station STORYLINE: Malaysia's state-owned oil and gas firm Petroliam Nasional Bhd (Petronas) has said that it posted a record high profit after tax in the financial year ending on Dec. 31, 2022 (FY22), underpinned by higher oil prices. Petronas said that the group's profit after tax for FY22 almost doubled to 101.6 billion ringgit (about 22.35 billion U.S. dollars) from 50.9 billion ringgit a year ago. The group's revenue for the year also surged 51.33 percent to 375.3 billion ringgit (about 83.94 billion U.S. dollars) from 248 billion ringgit a year ago, mainly due to the favorable price impact for major products aligned with higher benchmark prices. The group's capital inve

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World Bank downgrades India's growth forecast to 6.5 pct

STORY: World Bank downgrades India's growth forecast to 6.5 pct DATELINE: Oct. 7, 2022 LENGTH: 0:01:31 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of banks 2. various of shopping mall STORYLINE: The World Bank on Thursday downgraded India's economic growth forecast to 6.5 percent for the current fiscal year (2022-23) from its earlier estimate of 7.5 percent announced in June. The international financial institution cited the deteriorating international environment for the downgrade. "The Indian economy will slow down in FY23, coming off a strong but incomplete recovery in FY22 (April 2021-March 2022). The spillovers from the Russia-Ukraine war and the global monetary policy tightening cycle weigh on India's economic outlook," the report said. Elevated inflation on the back of higher prices of key commodities, heightened global uncertainty, and rising borrowing costs will affect domestic demand while slowing global growth inhibits India's export growth, it said. In its biannual report on

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India's exports rise to record high of 417.8 billion USD in FY22

STORY: India's exports rise to record high of 417.8 billion USD in FY22 DATELINE: April 4, 2022 LENGTH: 00:01:42 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of the India gate 2. various of gems and jewellery 3. various of a chemical lab 4. various of a fuel station 5. various of the traffic and export containers STORYLINE: India's merchandise exports increased to a record high of 417.8 billion U.S. dollars in 2021-22 fiscal year ending March on higher shipments of petroleum products, engineering goods, gem and jewellery and chemicals, the Commerce and Industry Ministry said in a statement Sunday. "Merchandise exports from India have reached 417.8 billion U.S. dollars in the current financial year," said the statement. "This figure excludes the figures from non-Electronic Data Interchange (EDI) ports and it is likely to exceed 418 billion U.S. dollars, an all-time high in India's export history." According to the ministry, India has achieved the highest monthly value of merchandise export i

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India's exports rise to record high of 417.8 billion USD in FY22

STORY: India's exports rise to record high of 417.8 billion USD in FY22 DATELINE: April 4, 2022 LENGTH: 00:01:42 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of gems and jewellery 3. various of a chemical lab 4. various of fuel station 5. various of traffic and freight train STORYLINE: India's merchandise exports increased to a record high of 417.8 billion U.S. dollars in 2021-22 fiscal year ending March on higher shipments of petroleum products, engineering goods, gem and jewellery and chemicals, the Commerce and Industry Ministry said in a statement Sunday. According to the ministry, India has achieved the highest monthly value of merchandise export in March 2022 amounting 40.38 billion U.S. dollars, an increase of 14.53 percent over 35.26 billion U.S. dollars in March 2021. "The exports have witnessed a significant growth in non-petroleum goods also in April 2021-March 2022 which was 352.76 billion U.S. dollars, an increase of 32.62 percent over 266 billion U.

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India achieves highest ever goods export target of 400 bln USD

STORY: India achieves highest ever goods export target of 400 bln USD DATELINE: March 24, 2022 LENGTH: 00:01:50 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of market area 3. various of crop harvesting 4. various of farmers working in fields 5. various of manufacturing unit 6. various of transportation of containers STORYLINE: India achieved its highest ever goods export target of 400 billion U.S. dollars Wednesday, nine days ahead of schedule, officials said. The country had set this ambitious export target for FY22. The milestone was hailed by the country's Prime Minister Narendra Modi, who lauded the farmers, weavers, manufacturers, exporters and micro, small and medium enterprises (MSME). "India set an ambitious target of 400 billion U.S. dollars of goods exports and achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success," Modi wrote on social media. "This is a key milestone i

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) passes by the painting âÂÂFirst Reading of the Emancipation Proclamation of President LincolnâÂÂ following a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Chuck Schumer Press Conference - Washington

United States Senate Majority Leader Chuck Schumer (Democrat of New York) holds a press conference on the passage of H.R. 3684, Infrastructure Investment and Jobs Act and FY22 Budget Resolution at the US Capitol in Washington, DC, USA, Wednesday, August 11, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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