Commerce and Industry Minister Piyush Goyal on Wednesday, emphasised India’s commitment to fair and open negotiations in trade and investment agreements, ensuring the interests of the people are safeguarded. Speaking at the CII India-Europe conclave, Goyal mentioned that countries engaging in Free Trade Agreements (FTAs) and investment pacts with India should recognise the substantial market […]
The owner of Zara, Inditex, a fast fashion company globally, is expanding its low-cost brand Lefties to compete with Chinese-founded rival Shein. Shein’s rapid growth, as an online marketplace with no physical stores, has created challenges for traditional retailers like Inditex and H&M due to its competitive budget prices. While Zara has faced pressure on […]
India will resist US and European plans to prolong a global ban on cross-border ecommerce charges at the World Trade Organisation conference next week, fearing a continuous massive revenue loss, news agency Reuters reported. New Delhi, South Africa and Indonesia want poor countries to be able to tax cross-border electronic communications and India will advocate […]
Zen Diamond, a Turkish diamond jewellery business, has revealed its plans to open chain stores in major Indian cities such as Mumbai, Delhi and Bangalore, as well as build an online presence in the initial phase. Zen Diamond targets ambitious young and middle-aged consumers in India. The firm has stated that it intends to open […]
Foreign enterprises’ direct investment in China climbed to its lowest level since the early 1990s last year, highlighting the country’s hurdles as Beijing seeks more outside investment to boost its economy. China’s direct investment obligations in its balance of payments increased by USD 33 billion last year, an 82 per cent decrease from 2022, according […]
Eurocommerce, a European retail sector association, urged European Union institutions and member states to settle the Red Sea situation, which has interrupted trade, stating in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have moved container ships away from the Red Sea to avoid Houthi insurgent […]
Retail sales in the United States declined more than expected in January, dragged down by lower receipts at auto dealerships and petrol stations. Retail sales fell 0.8 per cent last month, according to the Commerce Department’s Census Bureau, with winter storms likely contributing to the decline. Data for December was revised down, with sales gaining […]
Italy’s AGCM competition watchdog has fined British American Tobacco (BAT) and Amazon a total of 7 million euros ($7.5 million) for misleading advertising concerning heated tobacco products. BAT faces a 6 million euro fine, while Amazon’s penalty is 1 million euros. The fines were imposed due to insufficient information provided to consumers about the nicotine […]
India and the UAE on Tuesday finalised seven agreements, including a Bilateral Investment Treaty (BIT), an Intergovernmental Framework Agreement for the India-Middle East-Europe Economic Corridor and Memoranda of Understanding (MoUs) connecting payment systems. These agreements were reached following discussions between Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. […]
The Body Shop appointed administrators to accelerate the restructuring of the UK business, as per the media statements. “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley and Alastair Massey of business advisory firm FRP as joint administrators of the company, which operates The Body Shop’s UK business,” said an […]
