New investments in India plunge to 14-year-low

  • Dashing hopes of a quick economic turnaround, investments in the just-ended December quarter fell to a 14-year-low, fresh data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE) shows.
  • New project announcements in India have declined to the lowest levels since mid-2004 even as stalled projects remain near record levels, shows data.
  • The decline in fresh investments was across the board, with all major sectors witnessing a fall.
  • Indian companies announced new projects worth ₹1 trillion in the December quarter, 53% lower than what was announced in September quarter, and 55% lower than the year-ago period.

Cyclone ‘Pabuk’ Approaching Andaman and Nicobar Islands

  • Squally wind with a speed ranging between 40-50 kmph gusting to 60 kmph with a gradual increase up to 75 kmph is likely over the Andaman Sea from January 4.
  • “Heavy rains are predicted in the Andaman Islands from January 5-7. The tropical cyclonic storm ‘Pabuk’ is currently located above South China sea, almost 1,500 km from Port Blair,” said Regional Meteorological Centre scientist A.K. Sen.

India’s retaliatory tariffs to hit US exports worth $900 mn: US Congressional report

  • India’s proposed retaliatory tariffs against US agricultural products including apples, almonds and lentils will have an adverse impact on American exports worth nearly $ 900 million, according to the latest Congressional report.
  • India last year announced higher import duties on many US products like apples, almonds, walnuts, chickpeas and lentils in retaliation to president Donald Trump’s decision to impose heavy tariffs on imported steel and aluminium items, a move that sparked fears of a global trade war.

US House passes bills that would end government shutdown, without wall funds

  • Under the bills, the departments of State, Commerce, Agriculture, Labor, Treasury and other agencies would be funded through Sept. 30, the end of the current fiscal year.
  • Hours before the vote, the White House said advisers to President Donald Trump would recommend that he veto the measure if Congress passed it without any additional money for Trump’s proposed wall along the U.S.-Mexico border.