The record date for IRCTC’s (Indian Railway Catering & Tourism Corporation) final dividend payment to shareholders has been established. The business stated in a regulatory filing that August 19 is the record date for the IRCTC share dividend. It indicates that on August 19, IRCTC will distribute dividends to its shareholders who own IRCTC shares in their Demat accounts. One of the corporate acts is a dividend.
For the fiscal year 2021–2022, IRCTC has declared that it will pay a final dividend of Rs. 1.50 per share. The IRCTC share dividend equalled 75% of the company’s paid-up equity share capital. IRCTC shares have a face value of Rs 2.
The annual general meeting must approve the dividend before it is paid out (AGM). If the AGM approves the dividend, it will be paid out within 30 days of being declared.
IRCTC stated in a regulatory filing that “the firm has selected Friday, August 19, 2022, as the ‘Record Date’ for assessing the eligibility of members to final dividend for the financial year ended March 31, 2022, if approved at the AGM.
In 1999, IRCTC was established. For the Indian Railways, it offers ticketing, catering, hospitality, and tourism services.
In 2019, IRCTC went public on the National Stock Exchange (NSE). Most of the company is still owned by the Indian government.
India, Chile Strengthen Ties with Focus on Critical Minerals & Defence
India and Chile have agreed to launch talks on a comprehensive economic partnership to strengthen bilateral trade.
Prime Minister Narendra Modi and Chilean President Gabriel Boric Font met in New Delhi on 1st April to discuss trade, defence, critical minerals, and health, with Chile as a key Latin American partner for India.
Both leaders agreed to begin negotiations for a trade pact to expand investment opportunities and economic ties. Collaboration on critical minerals will focus on building resilient supply and value chains, while defence cooperation will include industrial manufacturing and supply networks tailored to mutual needs.
Additionally, both nations will work together on security challenges, including organised crime and terrorism, while simplifying visa procedures to promote student exchanges.
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China’s Private Factory Output Beats Forecasts Despite Trump Tariffs
China’s manufacturing activity grew at its fastest pace in four months, defying expectations ahead of Trump’s planned tariff hikes on exports to the US.
The Caixin manufacturing PMI rose to 51.2 in March from 50.8 in February, surpassing forecasts and indicating expansion.
Supply and demand improved, and exports grew, but the job market remained weak, and deflationary pressures persisted.
The private survey focused on small and export-driven firms and showed stronger results than the official poll.
Despite US tariffs, China’s manufacturing sector displayed resilience, with new export sales rising at the fastest pace in nearly a year.
Trump’s administration plans new reciprocal tariffs on 2nd April, with China warning of retaliation, adding to trade uncertainty.
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German Retail Sales Climb, But Import Costs Weigh on Outlook
German retail sales rose 0.8% in February, surpassing analyst expectations of 0.2%, but increasing import prices pose inflation risks that could impact consumer spending.
Economists remain cautious, citing weak consumer sentiment. Chief economist Alexander Krueger noted that growing job concerns are limiting spending. Unemployment increased by 26,000 in March to 2.92 million, nearing the 3 million mark for the first time in a decade.
Import prices jumped 3.6% year-over-year in February, the highest in over two years, driven by food costs. As Germany imports many raw materials, these higher costs could push inflation up.
March inflation data, set for release on Monday, is expected to drop slightly to 2.4% from 2.6% in February.
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Xi Jinping Meets Global CEOs Amid Slowing Investment
Chinese President Xi Jinping met with global CEOs in Beijing to attract foreign investment and support China’s slowing economy amid geopolitical tensions.
Beijing faces challenges reassuring investors about its $18 trillion economy, with concerns over strict regulations, crackdowns on foreign firms, and a business environment favouring state-owned companies.
Xi thanked foreign enterprises for contributing to trade, industry, tax revenue, and job creation. Around 40 executives, mostly from the pharmaceutical sector, attended the meeting as China seeks to reverse a sharp 27.1% drop in foreign direct investment (FDI) in 2024—the steepest decline since the 2008 financial crisis.
He emphasised the role of multinational corporations in stabilising the global economy and urged them to support economic cooperation. The meeting followed the China Development Forum, where Premier Li Qiang called for open markets amid rising global uncertainty.
Xi has also engaged domestic businesses, including a rare meeting with China’s top tech leaders last month, signalling efforts to restore economic confidence.
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Putin Accepts Modi’s Invite to India, Preparations Begin
Russian President Vladimir Putin has accepted Prime Minister Narendra Modi’s invitation to visit India, with preparations underway, Russian Foreign Minister Sergey Lavrov announced on 27th March.
Speaking at the ‘Russia and India: Toward a New Bilateral Agenda’ conference, Lavrov confirmed that arrangements for the visit are in progress but did not disclose the dates.
He noted that Modi’s first foreign visit after his re-election in 2024 was to Russia, adding, “Now it’s our turn.” Modi last visited Russia in July 2024 after nearly five years.
On 24th March, Lavrov stated that Russia is developing a “privileged strategic partnership” with India while expanding ties with China, Iran, North Korea, and CIS nations.
In January, Putin emphasised Russia-India relations as a “special and privileged strategic partnership” in his Republic Day message to India.
Modi and Putin maintain regular communication, speaking over the phone every few months and meeting in person during international events.
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