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Showing posts from September, 2021

Small savings rates remain unchanged for October-December

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Govt may set Rs 15-20k cr as Air India’s min price

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‘No GST input tax credit on CSR expense’

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NCLT tells Zee to take up EGM request of Invesco & comply

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Wall Street slides, S&P 500 posts worst month since Covid outbreak

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All three major US stock indexes had their worst quarterly performance since the opening months of 2020, when the Covid-19 pandemic brought the global economy to its knees. The S&P notched a modest gain over the July-to-September period, while the Nasdaq and Dow suffered quarterly losses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2YiKVlf

Expo 2020 Dubai kicks off with lavish opening ceremony

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'Over 1,000 Indians now have net worth of Rs 1,000cr'

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Eight core sectors' output up 11.6% in August

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The output of eight core sectors grew by 11.6 per cent in August, mainly due to an uptick in the production of cement, coal, and natural gas, official data showed on Thursday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3B0d6DH

CNG, PNG prices to rise sharply as gas price increased by 62%

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The government raised the price of natural gas produced from domestic fields by 62% to $2.9 per unit, the first increase in two years that will hit consumers by steeply pushing up cost of CNG and PNG but boost income of producers such as Reliance Industries Ltd, Cairn India and state-run ONGC. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zUvLzC

Govt hikes gas price by 62%; CNG rates may go up

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The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3urJxIO

RBI's auto-debit rules to set in from Oct 1: Things to know

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India's top banks have been sending emails and coordinating with customers, ahead of the Reserve Bank of India's (RBI) mandatory changes on auto-debit rules. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zTzBbZ

Interest rates on small savings schemes kept unchanged

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The government on Thursday kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the third quarter of 2021-22 amid the Covid-19 pandemic and elevated level of inflation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mh7M93

Fiscal deficit touches 31.1% of annual target at end-August

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The government's fiscal deficit stood at Rs 4.68 lakh crore or 31.1 per cent of the budget estimates at the end of August, as per data released by the Controller General of Accounts (CGA) on Thursday. The deficit figure in the current fiscal appears much better than the previous financial year when it had soared to 109.3 per cent of the estimates, mainly on account of a jump in expenditure to deal with the Covid-19 pandemic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WqhjS6

China’s growth risks multiply as manufacturing activity shrinks

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Activity in China’s vast factory sector contracted in September for the first time since the pandemic began, the latest sign of deceleration in the world’s second-largest economy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Y2zhdK

Trade deals will up investment, exports: Piyush Goyal

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Govt gets presentation on Air India’s valuation

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Insurance for exporters gets Rs 6,000 crore support

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Audi to restart SUVs’ local assembly

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Invesco moves NCLT after Zee doesn’t heed EGM call

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Accenture may have 3 lakh employees in India by 2022

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Accenture’s headcount in India could cross 3 lakh in its ongoing financial year, which ends in August 2022. The milestone will come after record high levels of hiring over more than a year. The momentum is continuing, considering the company has nearly 30,000 open positions in India now. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3okLshh

Piramal acquires DHFL for Rs 34,000 crore

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In the first insolvency resolution in the financial services space, Piramal Group has concluded payment of Rs 34,250 crore to take over Dewan Housing and Finance (DHFL). The deal is likely to help banks that had been hit by the company’s collapse. The payment will bolster the finances of banks that have written off loans to DHFL, whose promoters are accused of fraud.​ from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3umE1qV

China manufacturing unexpectedly shrinks, first time since Covid pandemic

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China's factory activity unexpectedly shrank in September due to wider curbs on electricity use and elevated input prices. China's economy rapidly recovered from a pandemic-induced slump last year, but momentum has weakened in recent months, with its sprawling manufacturing sector hit by rising costs, production bottlenecks and electricity rationing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3CWH8IZ

Vedantu raises $100 million, 28th unicorn in 2021

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Sebi bans 2 at Wipro, Infy for insider trading

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Sebi has banned from the markets an employee of Infosys and another one from Wipro for insider trading in the derivatives contracts of Infosys around the time the IT major won a large contract from global asset management giant Vanguard. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zU60iE

India's oil demand to more than double by 2045: Opec

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India will remain hooked to oil for another quarter of a century, with demand seen more than doubling to 11 million barrels a day by 2045 in spite of the Narendra Modi government’s focus on faster transition to clean energy, leaving fuel consumers vulnerable to crude market volatility. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mcqdLQ

Govt begins Air India bid evaluation

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The government has begun evaluation of financial bids received from Tata Group and SpiceJet founder for the acquisition of Air India, sources said. With this, the privatisation process of the national flag carrier has moved to the next phase as the government looks to expeditiously conclude the deal. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3CVgFM3

Expect more than 7% growth for India this decade: CEA

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Chief economic adviser (CEA) K V Subramanian on Wednesday said India will clock over 7 per cent annual growth during this decade on the back of strong economic fundamentals. During the current fiscal, he said, growth would be in double-digits and it could moderate to 6.5 - 7 per cent in the next financial year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ATRWqS

Senate Democrats weigh bill to avert US govt shutdown

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The US Senate could vote Wednesday on a stopgap funding bill to forestall a government shutdown, Democrats said, but without a provision to increase the federal debt limit and avert a credit default. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kSTgVk

India's external debt rises 2.1% to $570 billion

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India's external debt rose modestly by 2.1 per cent year-on-year to $570 billion as of March-end 2021, notwithstanding the Covid-19 pandemic, according to the finance ministry. External debt to GDP ratio rose marginally to 21.1 per cent from 20.6 per cent as at end-March 2020. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Yc58JB

Centre approves doubling of Rajkot-Kanalus, Nimach-Ratlam railway lines

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Reliance backs Saudi Aramco chairman as independent director

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Reliance Industries Ltd said on Wednesday Saudi Aramco chairman Yasir Al-Rumayyan met all regulatory criteria for his appointment as an independent director, pending a shareholder approval on the decision. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3CSIW5S

Govt OKs listing of ECGC, capital infusion of Rs 4,400cr

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The Union Cabinet on Wednesday approved capital infusion of Rs 4,400 crore in the state-owned Export Credit Guarantee Corporation (ECGC) and its listing through an initial public offering. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kOtPnV

Big thrust to exports, doubling of railway lines: Key decisions taken by the cabinet

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China hidden local govt debt is half of GDP, Goldman says

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China’s hidden local government debt has swelled to more than half the size of the economy, according to economists at Goldman Sachs Group Inc, who said the government will need to be flexible in dealing with this as revenue is already under pressure due to a slowdown in land sales. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3CZsbG2

Venugopal Dhoot, 2 others fined in insider trading case

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Rupee slips 13 paise to 74.19 against US dollar in early trade

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Jewelers sell gold for Rs 100 online as Indians warm up to internet buys

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Digital gold sales aren’t new to India, with mobile wallets and platforms offering the product. However, jewelers had so far shied away from selling such products online, restricting them to their stores as the bulk of purchases in India are still made in person. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2XUswe4

Live: Sensex down over 300 points in opening trade

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Debt limit, bond yields and Delta hammer Wall Street

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The benchmark Dow Jones Industrial Average closed 1.6 percent lower at 34,299.99. The broad-based S&P 500 fell two percent to 4,352.63, while the tech-rich Nasdaq Composite Index lost 2.8 percent to 14,546.68. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zNJSGJ

Women rep on boards up, but lags global avg

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Sebi makes it easier to delist cos after acquiring over 75%

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States debt to hit Rs 71.4 lakh crore in FY22: Report

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States' indebtedness will remain high this fiscal at 33 per cent, which is only a notch below the record high of 34 per cent of their gross domestic products in FY21, as tax buoyancy will be offset by higher revenue expenditure and capital outlays, as per a report. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mod8zp

UK strikes tax deal with Essar as fuel panic persists

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Britain threw refiner Essar Oil UK a lifeline on Tuesday with a phased tax payment deal, allowing it to keep producing just as the country struggles with motorists draining petrol stations in a panic-driven buying frenzy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3F0HksD

US may exhaust funds by Oct 18 unless debt limit raised: Yellen

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The US Treasury is likely to exhaust measures to keep funding the government on October 18, and will run out of cash unless Congress raises the federal borrowing cap, treasury secretary Janet Yellen warned on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3m3BMFf

Sebi clears gold exchange framework, trading in electronic gold receipts

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Sebi's board on Tuesday cleared a proposal for setting up a gold exchange wherein the yellow metal will be traded in the form of electronic gold receipts and the bourse will help in having a transparent domestic spot price discovery mechanism. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ifyZYm

Labour survey shows 29% rise in employment: Key takeaways

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Sebi clears framework for social stock exchange

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Markets regulator Sebi on Tuesday decided on a framework for the social stock exchange for fund raising by social enterprises. The framework for the Social Stock Exchange (SSE) has been developed on the basis of the recommendations of a working group and technical group constituted by the regulator. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3EYbBs4

Why pulses continue to be a key contributor to food inflation

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The prices of pulses are unlikely to come down substantially any time soon from the households perspective from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3APhN3c

India nonstops on the way, American Airlines codeshares with IndiGo

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American Airlines, which Will start nonstop flights between Delhi and New York from October 31, and between Bengaluru and Seattle from January 4, 2022, has entered into a codeshare agreement with IndiGo. American will put its code on 29 of IndiGo’s domestic routes in India, providing an option for its customers arriving on the carrier’s new Bengaluru and Delhi flights. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zNsRMZ

Sensex slips 410 points; Nifty ends below 17,750: Top reasons

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After scaling to record highs for three straight sessions, equity indices plunged on Tuesday with the benchmark BSE sensex falling over 400 points amid weak cues from global markets. The sensex plunged over 1,000 points to day's low of 59,046. However, the 30-share index recovered near the closing time. It finally settled 410 points or 0.68 per cent to lower at 59,668. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/39KMP0k