Latest news with #Asia
Times of Oman
17 minutes ago
- Business
- Times of Oman
India records $13.5 billion current account surplus in Q4-FY25
Mumbai: India's current account recorded a surplus of $13.5 billion (or 1.3 per cent of GDP) in the January-March quarter of 2024-25 as compared with $4.6 billion (or 0.5 per cent of GDP) in the same quarter of 2023-24, RBI data showed Friday. Reportedly, the country's current account posted a surplus for the first time in four quarters. In the October-December quarter of 2024-25, the current account was in a deficit of USD 11.3 billion (1.1 per cent of GDP). Merchandise trade deficit, at USD 59.5 billion in Q4 2024-25, was higher than USD 52.0 billion in Q4 2023-24. However, it moderated from USD 79.3 billion in Q3 2024-25. Net services receipts increased to USD 53.3 billion in Q4 2024-25 from USD 42.7 billion a year ago. Services exports have risen on a year-on-year basis in major categories such as business services and computer services. Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to USD 11.9 billion in Q4 2024-25 from USD 14.8 billion in Q4 2023-24. Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to USD 33.9 billion in Q4 2024-25 from USD 31.3 billion in Q4 2023-24. In the financial account, foreign direct investment (FDI) recorded a net inflow of USD 0.4 billion in Q4 2024-25 as compared to an inflow of USD 2.3 billion in the corresponding period of 2023-24. Foreign portfolio investment (FPI) recorded a net outflow of USD 5.9 billion in Q4 2024-25 as against a net inflow of USD 11.4 billion in Q4 2023-24. In the entire year 2024-25, India's current account deficit, at USD 23.3 billion (0.6 per cent of GDP) was lower than USD 26.0 billion (0.7 per cent of GDP) during 2023- 24, primarily due to "higher net invisibles receipts." Net invisibles receipts were higher during 2024-25 than a year ago on account of services and personal transfers, RBI said. Aditi Nayar, Chief Economist and Head - Research and Outreach, ICRA Limited, said, "While the current account balance expectedly reported a seasonal surplus in Q4 FY2025, the size of the same overshot our expectations, amid a surprise dip in primary income outflows in the quarter. This led to the unexpected narrowing in the CAD to 0.6 per cent of GDP in FY2025 from 0.7 per cent in FY2024." "Amid expectations of a widening in the merchandise trade deficit as well as a moderation in the services trade surplus in Q1 FY2026 vis-a-vis Q4 FY2025, we expect the current account to revert to a deficit in the ongoing quarter, printing at 1.3 per cent of GDP. We foresee India's current account deficit to average 1 per cent of GDP in FY2026, assuming an average crude oil price of USD 70/barrel for the fiscal, which is eminently manageable in spite of the prevailing global uncertainties," added Nayar. In another news, the Reserve Bank of India, in consultation with the State Governments/Union Territories (UTs), announced today that the quantum of total market borrowings by the State Governments/UTs for the quarter July - September 2025, is pegged to be Rs 2.86 lakh crore.
Daily Mail
25 minutes ago
- Politics
- Daily Mail
Six Americans arrested for trying to smuggle rice into North Korea
Six Americans have been detained in South Korea for trying to float 1,600 plastic bottles filled with rice, miniature Bibles, $1 bills, and USB sticks toward North Korea. The Americans, missionaries aged from their 20s to 50s, were apprehended on front-line Gwanghwa Island about 1.06am on Friday, local time. Cops grabbed them before they could throw the bottles into the sea so they could float toward North Korean shores on the tides, two Gwanghwa police officers alleged. They said the Americans are being investigated on allegations they violated the law on the management of safety and disasters. The officers, who requested anonymity because they weren't authorized to speak to media on the issue, refused to provide personal details of the Americans in line with privacy rules. Gwanghwa police said they haven't yet found what is on the USB sticks. 'Because the suspects do not speak Korean fluently, we plan to conduct further questioning with the assistance of an interpreter,' they said. Plastic bags containing Bible passages are prepared prior to being thrown into the sea by North Korean defector activists on Ganghwa island, west of Seoul on May 1, 2018 The US Embassy in South Korea had no immediate public comment. For years, activists have sought to float plastic bottles or fly balloons across the border carrying anti-North Korea propaganda leaflets and USB thumb drives carrying South Korean dramas and K-pop songs. This practice that was banned from 2021-2023 over concerns it could inflame tensions with the North. North Korea responded to previous balloon campaigns with fiery rhetoric and other shows of anger. Last year the country launched its own balloons across the border, dumping rubbish on various South Korean sites including the presidential compound. South Korea´s Constitutional Court struck down a controversial law in 2023 that criminalized the sending of leaflets and other items to North Korea, calling it an excessive restriction on free speech. But since taking office in early June, the new liberal government of President Lee Jae Myung is pushing to crack down on such civilian campaigns with other safety-related laws to avoid a flare-up tensions with North Korea and promote the safety of frontline South Korean residents. Police detained an activist on June 14 for allegedly flying balloons toward North Korea from Gwanghwa Island. Police created a dedicated task force to prevent items crossing the border into the North, in response to Friday's arrests. 'We will strengthen coordination with relevant bodies to completely block these leaflet operations and respond strictly to any violations according to the law,' they said. Lee took office with a promise to restart long-dormant talks with North Korea and establish peace on the Korean Peninsula. Lee's government halted frontline anti-Pyongyang propaganda loudspeaker broadcasts to try to ease military tensions. North Korean broadcasts have not been heard in South Korean front-line towns since then. But it's unclear if North Korea will respond to Lee's conciliatory gesture after vowing last year to sever relations with South Korea and abandon the goal of peaceful Korean reunification. Official talks between the Koreas have been stalled since 2019, when US-led diplomacy on North Korean denuclearization derailed.
Globe and Mail
25 minutes ago
- Business
- Globe and Mail
iFLYTEK Unveils AINOTE Air 2: Revolutionary AI-Powered Tablet Redefines Productivity for Professionals Worldwide
Chengdu, China--(Newsfile Corp. - June 27, 2025) - iFLYTEK has announced the launch of the AINOTE Air 2, a new AI-powered tablet aimed at enhancing productivity for professionals. Targeting users involved in multilingual meetings, detailed research, and critical documentation, the device combines advanced artificial intelligence capabilities with high-quality hardware to support improved digital productivity. At only 230 grams and 5mm thin, the Air 2 offers professionals unparalleled portability without sacrificing power. Featuring an 8.2-inch E Ink display with a crisp resolution of 1440×1920 pixels (293 PPI), it ensures a comfortable reading and writing experience ideal for sustained use, reducing eye strain significantly compared to conventional screens. The Wacom stylus, boasting 4,096 levels of pressure sensitivity, transforms note-taking and sketching into a natural, lag-free experience, eliminating the digital disruptions commonly experienced by professionals and academics. With real-time transcription across 15 languages and translation in 10 languages, users can confidently navigate multilingual interactions, capturing clear, precise transcripts effortlessly. Its advanced quad-microphone setup and noise suppression allow professionals to be fully engaged in meetings without worrying about language barriers or missed details. Users will particularly appreciate the Air 2's AI Meeting Summary feature, which transforms extensive recordings into concise, actionable summaries at a single touch. This dramatically simplifies tasks for legal, educational, and consulting professionals who regularly process large amounts of information. Additionally, the synchronization between handwritten notes and audio recordings ensures users never miss critical details. Each pen stroke is timestamped, allowing easy and accurate review of important discussions-an indispensable tool for fast-paced environments like courtrooms and academic lectures. The intuitive gesture recognition of the Air 2 significantly streamlines task management. Users simply mark words or phrases to instantly convert notes into organized tasks, eliminating the hassle of switching between different apps and enhancing productivity seamlessly. The AINOTE Air 2 keeps its AI-driven toolkit refined and effective, featuring ChatGPT-enhanced functionalities including AI Meeting Summary, AI Search, and AI-assisted chat. Additional practical features include handwriting-to-text conversion in 83 languages, a built-in 5MP document scanning camera, and audiobook support, all delivered seamlessly through 4GB RAM, 32GB storage, Wi-Fi 6, and Bluetooth 5.0. AINOTE Air 2 encapsulates decades of iFLYTEK's pioneering AI and natural language processing expertise, setting a new benchmark in professional productivity tools, its mission is to empower professionals with clarity and efficiency in their daily workflows. Available now for just $479 on iFLYTEK's official store and $499 via Amazon, the AINOTE Air 2 is your gateway to enhanced productivity and clear, efficient communication. Don't miss out-upgrade your workflow today and experience firsthand the transformative impact of smart technology. For more information about the AINOTE Air 2, visit iFLYTEK's official website.
Times of Oman
26 minutes ago
- Business
- Times of Oman
India looking at option of buying more S-400 air defence systems from Russia
New Delhi: With the S-400 air defence missile systems performing very well during Operation Sindoor, India is considering the option of buying two more squadrons of S-400 long range surface-to-air missile systems from Russia, defence sources told ANI. The sources said more systems of the S-400 are being considered due to security threats in view of the recent hostilities and the time to be taken in the development and deployment of the indigenous LRSAM programme, codenamed Project Kusha by the Defence Research and Development Organisation, with Solar Defence and Aerospace Limited and Bharat Dynamics Limited as its development and production partners. The Indian side would prefer to get S-500 air defence system which has more range than the S-400 but it would require a clearance from the top Russian leadership for its sale, they said. The S-400 performed exceptionally in Operation Sindoor taking out multiple Pakistan Air Force fighter and airborne early warning aircraft. It also managed to create a record of sorts by successfully hitting an aircraft at a range of 300 plus kilometres. India is also awaiting the delivery of two more squadrons of the five S-400 squadrons that it had ordered in a 2018 deal. The first three squadrons have already been received and operationally deployed. Just before the delivery of the fourth squadron, war broke out between Russia and Ukraine. The systems meant for India were probably used in the war. The Russian side has now assured the delivery of the remaining two systems in the next financial year. Indian defence teams have also raised the issue with the Russian side and they have given assurances to not extend the schedule further.
Times of Oman
26 minutes ago
- Business
- Times of Oman
Positive trajectory in Indian economy continues in 2025-26, all indicators indicate resilience: FinMin
New Delhi: The positive trajectory in the Indian economy appears to be continuing in 2025-26, with initial high-frequency indicators suggesting that economic activity has remained resilient, according to the Ministry of Finance's monthly report, released on Friday. High-frequency indicators such as e-way bill generation, fuel consumption, and PMI indices point to continued resilience. "Rural demand has strengthened further, supported by a healthy rabi harvest and a positive monsoon outlook," the monthly economic review of the finance ministry said. "Urban consumption is being supported by increased leisure and business travel, as seen in the rise of air passenger traffic and hotel occupancy." However, the report noted that there are signs of softening in areas like construction inputs and vehicle sales. Retail and food price inflation registered a sustained and broad-based decline in May 2025, driven by robust agricultural production and effective government interventions. Continuing its downward trend, consumer price inflation in India hit an over six-year low in May, in respite to common people. According to the statistics ministry, the year-on-year inflation rate based on Consumer Price Index (CPI) for the month of May was 2.82 per cent (provisional). It is the lowest year-on-year inflation since February 2019. The inflation rate is within the Reserve Bank of India's (RBI) manageable range of 2-6 per cent. Retail inflation last breached the Reserve Bank of India's 6 per cent upper tolerance level in October 2024. Since then, it has been in the 2-6 per cent range, which the RBI considers manageable. Coming back to the finance ministry report, India's economic momentum continues to grow, reflecting the country's ability to navigate complex global challenges while sustaining domestic growth drivers. In 2024-25, real GDP grew by 6.5 per cent, aligning with the Second Advance Estimates. "This growth came amid a challenging global environment marked by geopolitical tensions and trade uncertainties. Robust domestic demand, particularly a rebound in rural consumption, steady investment activity, and a positive shift in net exports, underpinned the economy's resilience. The services sector continued to be the main driver of growth on the supply side. Industrial output also expanded, with strong growth in construction and a stable performance in manufacturing. The agriculture sector rebounded, bolstered by favourable monsoon conditions and record food grain production," the report read. On the external front, India's total exports (merchandise and services) recorded a year-on-year growth rate of 2.8 per cent in May 2025, reflecting the resilience of exports amid tariff uncertainties and subdued global economic conditions. As of June 13, 2025, foreign exchange reserves remain strong, standing at USD 699 billion, which provides an import cover of 11.5 months. Additionally, the Indian rupee has experienced moderate volatility, in contrast to the more pronounced adjustments observed in other economies, the ministry said. The labour market indicators show signs of stability. "White-collar hiring witnessed a rise in hiring with core sectors such as AI/ML professionals, Insurance, Real Estate, BPO/ITES, and Hospitality leading the hiring growth. The employment sub-indices of the PMI indicate strong employment growth, with the employment sub-indices reaching a high. Formal job creation is also on the rise, as indicated by the growing net payroll additions under the Employee Provident Fund Organisation," it added. As was widely expected, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, official data showed recently. The Reserve Bank of India had projected 6.5 per cent GDP growth for the fiscal year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per cent, continuing to be the fastest-growing major economy. According to official data, the economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23. This February, the World Bank said India will need to grow by 7.8 per cent on average over the next 22 years to achieve its aspirations of becoming a developed country by 2047. However, the World Bank asserted that getting there would require reforms and their implementation to be as ambitious as the target itself. To realise the vision of 'Viksit Bharat', a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 asserted. India has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the 11th in 2013-14, India has positioned itself to become the fourth largest economy in 2025-26. Even as India has overtaken many countries in terms of the size of the economy over the past decade, the per capita income in India however remains very low.
