Wion Business Wrap | China's economic woes, Argentinians opt for old clothes & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.

India's retail inflation hits four-month low in October, nearing RBI's target

India's retail inflation experienced a downturn in October, reaching a four-month low and moving closer to the central bank's targeted 4 per cent, a level deemed necessary before considering interest rate reductions

PRS Oberoi, pioneer of luxury hospitality, passes away at 94

Prithvi Raj Singh Oberoi, fondly known as PRS Oberoi and hailed as the doyen of Indian hospitality, passed away on Tuesday morning at the age of 94, leaving behind a legacy that transformed the landscape of luxury hotels in India and beyond.

China-US direct flights soar as prices plummet, boosts travel prospects

The Civil Aviation Administration of China (CAAC) is all set to report a surge in direct passenger flights between China and the United States, marking an upward trend in connectivity. The number of regular direct flights would rise from 48 to 70 per week during the winter and spring season of 2023 and 2024.

Sri Lanka's ambitious 2024 budget targets higher revenues and a controlled deficit

Sri Lanka's government has unveiled its ambitious 2024 budget, aiming for a lower-than-anticipated deficit while projecting a significant surge in revenues crucial for sustaining its International Monetary Fund (IMF) bailout program.

Argentinians are shifting to second-hand clothing

Hard-hit by rising prices, Argentines are increasingly resorting to second-hand clothing markets, not only to find affordable apparel but also to generate extra income by selling their old garments.

Google pays Apple 36pc of search advertising revenue, discloses antitrust trial

The US Justice Department's antitrust trial has revealed that Alphabet's Google pays Apple about 36 per cent of the revenue generated from search advertising through the Safari browser.

Despite China's commitment to cease overseas coal financing and boost green energy projects, the country's development banks have yet to channel funds into renewable initiatives, according to researchers at Boston University.

China sees an investment exodus as global players pivot

Foreign businesses are swiftly retracting their investments from China, signalling a paradigm shift in the global economic landscape. The unprecedented $11.8 billion deficit in foreign investment, a stark departure from the country's historical trends, is raising eyebrows and prompting a closer examination of the factors at play.