Brands Food & Beverage. News Retail

McDonald’s To Hike Royalty Fees To 5% For New Franchisees

McDonald’s (MCD.N) is increasing royalty fees for new franchise restaurants in the U.S. and Canada, marking the first such adjustment in nearly thirty years. This adjustment will align the fees with what McDonald’s charges in other global markets. Effective from 1 January, the fees will be raised from 4 per cent to 5 per cent. […]

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Government News

Removal of Additional Custom Duty On Apples Will Not Hurt Domestic Players: Commerce Ministry

Amid the uproar over the removal of customs duty on apples imported from the US, the Commerce Ministry has clarified that the decision would not impact local players. Addressing a press conference on Tuesday, Peeyush Kumar, Additional Secretary, Commerce Ministry said that the government has sufficient policy space to support growers if there is any […]

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Global GDP Growth Revised Up To 2.5% In 2023

S&P Global Market Intelligence has revised the global accurate GDP growth forecast for 2023 to 2.5 per cent, primarily owing to upward revisions in the US forecast. Earlier, it had predicted global growth at 2.4 per cent. However, the 2024 global growth forecast remains unchanged at 2.4 per cent. Turning the focus to India, it […]

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Brands Companies International News

US Tech Giants To Invest Billions In India After PM Modi’s Visit

After Prime Minister Narendra Modi’s recent official visit to the western superpower, three US tech titans announced significant investments in India. For the development of Indian technology, Amazon, Google, and Microsoft have pledged financial investments and technological collaboration. Google has announced that it will open its global fintech operation hub in Gujarat, whereas Amazon has […]

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Brands Companies Electronics News

Hyundai Motor To Boost EV Sales To 2 Mn Units By 2030

Hyundai Motor Company aims to boost its annual electric vehicle sales to 2 million units by 2030, against its earlier target of 1.87 million, in line with rising global demands. Considering that the proportion of global EV production is set to increase from 8 per cent this year to 34 per cent in 2030, the […]

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Government International News Trade

US Hopes India Will Continue To Buy Russian Oil Within Price Cap

White House National Security Council (NSC) Coordinator for Strategic Communications John Kirby said on Tuesday said that it is up to India to decide to buy Russian oil and hoped that India will continue to buy Russian oil in keeping within the price cap. Speaking on the price cap on Russian oil, Kirby said, “The […]

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E-commerce & Marketplaces International National News

Indian Ecommerce Market To Surpass US By 2034, Says Report

Shiprocket X has recently published its survey report titled “The State of Cross-Border Trade.” The survey revealed some interesting global insights, along with how India ranked ninth in global cross-border growth. India’s total merchandise exports continue to cross the USD 100 billion mark, for the second consecutive quarter in a row, amounting to USD 105.8 […]

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International Logistics News

US Considering Ban On Chinese Airlines Using Russian Airspace

The US Transportation Department is proposing a ban on Chinese airlines’ use of Russian airspace to fly passengers to the US, three officials from the administration of President Joe Biden told New York Times, reported Russia Today. The national security team and others were reportedly given an order last Monday requiring Chinese rivals to adhere […]

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Logistics News

Bilateral Goods & Services Trade Almost Doubled Since 2014: US-India

Union Minister of Commerce and Industry Piyush Goyal and US Commerce Secretary Gina Raimondo noted with satisfaction that the bilateral goods and services trade has almost doubled since 2014, exceeding USD 191 billion in 2022, signalling accelerated growth benefiting both countries. With the US becoming India’s largest trading partner in 2022, both sides will take […]

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Interest Rates “Likely To Be Higher” Than Previously Anticipated: US Fed Chair

Despite inflation moderating in recent months, the process of getting it back down to two per cent is still a long way away and the path is likely to be bumpy, according to US Federal Reserve Chair Jerome Powell. “As I mentioned, the latest economic data have come in stronger than expected, which suggests that […]

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