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Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158. The new prices will be effective from today. This comes after the central government reduced the price of domestic LPG cylinders by Rs 200 on the occasion of Raksha Bandhan. In July, the prices of commercial LPG gas cylinders were increased by Rs 7 each. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/fCkxoJg

The government is considering to put stock limit on chana (gram) considering the increase in its prices in recent weeks. So far, stock limits have been imposed on wheat, tur and urad. The government may also scrap the tender for import of masur considering that the importers are quoting exorbitant prices. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8EQRwNG

The country’s economic growth in the April-June quarter of the current fiscal year touched a four-quarter high on the back of robust performances by services, farm, manufacturing and mining sectors and a favourable base, but patchy monsoon rains and a global slowdown could hurt expansion in the months ahead. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i95JKPa

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Wall Street ended on a high note, driven by strong performances from Tesla, Nvidia, and other megacap growth stocks. The increase came after a drop in job openings, indicating a potential pause in interest rate hikes by the US Federal Reserve. The S&P 500 and Nasdaq both recorded their strongest gains in weeks, with all 11 S&P 500 sectors seeing growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3uIbpXm

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Reliance Industries, India’s largest company in terms of market value, has appointed chairman and managing director Mukesh Ambani’s three children — Isha, Akash and Anant — to the board, an indication that they will eventually helm the oil-to-telecom conglomerate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nP5gYxb

The approach of digital public infrastructure (DPI), which has gained global prominence, can also help in area of climate adaptation and mitigation going forward, chairman and co-founder of Infosys and the founding chairman of UIDAI, Nandan Nilekani said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FgXk9Tj

After strong foreign fund flows into stocks over three months, pace of inflows ebbed in August with a net investment of Rs 10,689 crore on higher oil prices and resurfacing of inflation risks. Markets may remain volatile due to macroeconomic uncertainty and rising US bond yields. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fd7emLc

The report released by real estate consultant Knight Frank India in association with the National Real Estate Development Council (NAREDCO) stated this estimated real estate output value will contribute 15.5 per cent to the total economic output in 2047 from existing 7.3 per cent. Private equity investments in the Indian real estate sector have consistently grown over the past two decades. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8tGdzoj

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The Indian govt has taken a decisive step to curb the export of basmati rice priced below $1,200 per tonne. This measure is intended to counter the illicit practice of disguising non-basmati rice as premium basmati rice for unlawful shipment. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5shSw1j

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Foreign investors have slowed down their inflows into Indian equities in August due to higher crude oil prices, resurfacing inflation risks, and rising US bond yields. FPIs invested a net amount of Rs 10,689 crore in Indian equities this month, compared to over Rs 40,000 crore in each of the past three months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uvH8sLk

The government is expected to take up the issue of penal charges levied by banks for non-maintenance of minimum balance with the Reserve Bank of India, as these yielded Rs 21,000 for state-run and private lenders over the last five years. While a government official insisted that state-run banks such as SBI do not adopt such practices, he acknowledged the problem and said the issue will be taken up with RBI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dDyaJmo

The government is initiating fresh measures to ensure that rice prices remain under control and overall inflation comes down. On Friday, the Centre imposed 20% export duty on parboiled rice (rice partially boiled with husk), barely a week after imposing 40% duty on exports of onion. Besides, it is expected to notify a minimum export price (MEP) for basmati rice, pegged at $1,200 (Rs 99,000) a tonne. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Is7vxNF

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EU has proposed establishment of special courts to deal with cases involving violation of investment protection agreement, as it will provide comfort to investors and boost investment in India, EU trade commissioner Valdis Dombrovskis said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/amqIkVL

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GAIL is scouting for a stake in LNG (liquefied natural gas) projects in the US and long-term supply deals as the state-run utility expects gas transmission volumes to rise on the back of expanding pipeline network. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/I38Ja1Q

Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, fell by 5% on Wednesday to hit its lower circuit limit for the third day running. The stock declined 5% to hit its lower circuit limit of Rs 227 on the BSE. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hyj7rMI

Sam Bankman-Fried, the embattled crypto mogul, has allegedly been denied vegan meals and access to prescription medication in jail, according to his lawyers. They argue that they need better access to Bankman-Fried to build his defense case ahead of his October fraud trial. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/o3sKV7C

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Union food secretary Sanjeev Chopra told reporters on Wednesday that the target for procurement of rice was set after holding a meeting with food secretaries of all states. During the current kharif marketing season, which ends on September 30, the government agencies have procured 495 lakh tonnes of rice. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Nb5gRWC

The Nasdaq and S&P 500 both rose on Monday, with Nvidia leading the gains in the technology sector. Investors are optimistic ahead of Nvidia's earnings report and have raised their price target on the stock. The Dow Jones ended slightly lower. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DfqixeN

Indian IT firms, including TCS, Infosys, Wipro, and HCLTech, have collectively secured multi-billion dollar deals in the June quarter. The objective of these deals is to cut costs through asset and people takeovers. Infosys has expanded its partnership with Liberty Global, valued at 1.5 billion euros over five years, while TCS won a contract from Nest worth 840 million pounds. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dXYs7FT

The sales of Indian single malts have surged, catching up with Scottish rivals, due to the increasing demand for homegrown brands. In 2022, Indian malt sales rose 2.4 times to 281,000 cases, while Scotch (single malt) sales increased by 35% to 296,000 cases. Indian brands now account for around a third of the market, compared to 15% five years ago. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/whMfNej

SBI chairman Dinesh Khara is expected to receive an extension until August 2024, giving him an additional year in his current position. This is due to existing norms that limit the age of the SBI chairman to 63 years, which Khara will reach next August. Another official, Ashwini Kumar Tewari, is also likely to receive a two-year extension. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zw159n7

Sales of high-priced large consumer product packs in India have shrunk in July, according to data from retail intelligence platform Bizom. Consumers are opting for low-and-mid-priced packs instead, as the prices of larger packs remain higher than expected. E-commerce and quick commerce, where consumers make impulse purchases of smaller packs, are growing faster than modern trade, where high-value packs are usually bought. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cztObJ1

The move follows repeated attempts from New Delhi, which believes the agreement is not benefiting Indian exporters with commerce minister Piyush Goyal calling it "most ill-conceived". from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AfROWho

The Indian tech sector has seen a significant increase in the number of women employed in the past decade. In 2012-13, there were 9 lakh women employed in the sector, making up 30% of the workforce. Today, that number has doubled to over 2 million, accounting for 36% of the total workforce. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cC7IfeB

The IPO of stainless steel flexible hose manufacturer Aeroflex Industries Limited (AIL) will open on August 22 and close on August 24. The company has already raised Rs 104 crore from anchor investors. The IPO includes a fresh issue of equity shares worth up to Rs 162 crore and an offer for sale of up to 1.75 crore equity shares by promoter body Sat Industries. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uSJFO3x

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The consumer affairs ministry also announced to sell onions at Rs 25 a kg in areas where the retail price is above the national average price. The government-owned cooperative, National Cooperative Consumers' Federation (NCCF), will start providing onion at this subsidised rate from Monday. Around 10 mobile vans will be deployed in Delhi and more areas will be covered gradually. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Yz2oA51

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Foreign Portfolio Investors have invested about Rs 8,400 crore in Indian equities due to global market uncertainty, economic problems in China, and the stability of the Indian economy. However, if there is any weakness in global equities due to slack in Chinese demand, it might lead to choppy fund inflows for FPIs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ixzgMr5

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