India's current account deficit moderated marginally in the September quarter despite a wider trade deficit on the the back of higher services income, remittances and a slowdown in repatriation of investment income. ET Year-end Special Reads Two sectors that rose on India's business horizon in 2024 2025 outlook: Is it time for cautious optimism or rekindling animal spirits? 2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise The current account deficit, the excess of imports over exports of the country’s goods and services amounted to to 1.2 percent of the GDP or $11.2 billion from 1.3 percent of GDP($11.3 billion) in the same period a year ago according to the preliminary numbers released by the Reserve Bank of India on Friday. The trade deficit was higher $ 75.3bn in Q2 FY’25 compared with $ 64.5bn in the same period last year even though oil imports were largely stable. This is because gold imports surged by $ 5 billion over the two quarters. While oil deficit increased by $2.3 billion. Net services receipts increased to US$ 44.5 billion in the September 2024 quarter from $ 39.9 billion a year ago. Services exports have risen on a year-0n-year basis across major categories such as computer services, business services, travel services and transportation services, the Reserve Bank said ina release. Net outgo on the primary income account, primarily reflecting payments of investment income, decreased to $ 9.5 billion in the September 2024 quarter from $ 11.6 billion in the same period a year ago. Private transfer receipts, mainly representing remittances by Indians employed overseas, to $ 31.9 billion in the September 2024 quarter from $ 28.1 billion in the September 2023 quarter. 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For FY'2025 as a whole, the current account deficit may print around 1.1-1.2% of GDP." The capital account surplus expanded, led by FPI inflows, while FDI outflows were recorded higher. As a result, BoP surplus was recorded higher at $ 18.6bn compared with $ 2.5bn in Q2 FY24. Increased threats of a protectionist trade policy being implemented by the incoming US President, will be a key threat for the external sector outlook, according to Madan Sabnavis, chief economist at Bank of Baroda . INSET If one were to exclude the valuation effects, foreign exchange reserves increased by $ 23.8 billion during April-September 2024 as compared with an accretion of $ 27.0 billion during April-September 2023. Foreign exchange reserves in nominal terms or including valuation effects increased by $ 59.4 billion during April-September 2024-25 as compared with an increase of $ 9.3 billion in the corresponding period of the preceding year. Significantly the country’s foreign exchange reserves touched new high end of September to $705 billion and has fallen by ove $40 billion since then. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )
SAN JOSE, Calif. , Nov. 26, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that Nimrod Ben-Natan , President and CEO of Harmonic, and Walter Jankovic , Harmonic's Chief Financial Officer, will participate in a fireside chat at the Raymond James 2024 TMT and Consumer Conference in New York City , on Monday, December 9, 2024 at 8:20 a.m. PT / 11:20 a.m. ET and host investor meetings throughout the day. Mr. Jankovic will also host investor meetings at the Barclays 2024 Global Technology Conference in San Francisco , on Thursday, December 12, 2024 . A live audio webcast of the fireside chat will be available on Harmonic's website at investor.harmonicinc.com . An archived webcast will remain posted on the Company's investor relations website for 30 days. Further information about Harmonic and the company's solutions is available at https://www.harmonicinc.com/ . About Harmonic Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry's first virtualized broadband solution, enabling operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at https://www.harmonicinc.com/ . Harmonic, the Harmonic logo and other Harmonic marks are owned by Harmonic Inc. or its affiliates. All other trademarks referenced herein are the property of their respective owners . View original content to download multimedia: https://www.prnewswire.com/news-releases/harmonic-to-participate-in-upcoming-december-2024-investor-conferences-302316838.html SOURCE Harmonic Inc.
NEW YORK (Reuters) - Facebook owner Meta Platforms will face trial in April over the U.S. Federal Trade Commission's allegations that the social media platform bought Instagram and WhatsApp to crush emerging competition, a judge in Washington said on Monday. The FTC sued in 2020, during the Trump administration, alleging the company acted illegally to maintain a monopoly on personal social networks. Meta, then known as Facebook, overpaid for Instagram in 2012 and WhatsApp in 2014 to eliminate nascent threats instead of competing on its own in the mobile ecosystem, the FTC claims. Judge James Boasberg set trial in the case for April 14. Boasberg earlier this month rejected Meta's argument that the case should be dismissed as it depends on an overly narrow view of social media markets. The lawsuit does not account for competition from ByteDance's TikTok, Alphabet's YouTube, X, and Microsoft's LinkedIn, Meta had argued. Boasberg said that while the case should go forward to trial, "time and technological change pose serious challenges" to the FTC's market definition. "The Commission faces hard questions about whether its claims can hold up in the crucible of trial. Indeed, its positions at times strain this country's creaking antitrust precedents to their limits," the judge said in the Nov. 13 ruling. (Reporting by Jody Godoy in New York; Editing by Bill Berkrot)