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Foxconn gets board nod for $400 million investment in Telangana 

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Foxconn gets board nod for 0 million investment in Telangana 

Foxconn logo is seen in this illustration. File | Photo Credit: REUTERS Leading contract manufacturer of electronics globally Foxconn, which operates through multiple entities, has announced board approval for a $400 million investment in Telangana, the southern State where in May it broke ground for a $500 million manufacturing facility. Telangana IT and Industries Minister…

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RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review

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RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review

Reserve Bank of India (RBI) Governor Shaktikanta Das addresses G-20 Finance Track seminar on ‘Global Economy: Challenges, Opportunities and the Way Forward’, in Mumbai on August 11, 2023. | Photo Credit: ANI Reserve Bank Governor Shaktikanta Das on August 11 pitched for the “expeditious completion” of the 16th general review of the quotas at the…

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Rupee falls 19 paise to 82.85 against U.S. dollar amid losses in local equities

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Rupee falls 19 paise to 82.85 against U.S. dollar amid losses in local equities

The rupee depreciated by 19 paise to settle at 82.85 (provisional) against the U.S. dollar on Friday amid weak sentiment in the equity markets and a strong dollar against major rivals overseas. Foreign fund inflows and softening crude prices, however, supported the Indian currency even as investors were awaiting India’s industrial output number, to be…

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Stock markets decline for second day on losses in private banks, weak global trends

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Stock markets decline for second day on losses in private banks, weak global trends

Benchmark equity indices Sensex and Nifty declined for a second straight day on Friday due to losses in HDFC Bank and ICICI Bank and a negative trend in Asian and European markets. The trend in the domestic market remained weak post the RBI monetary policy and the unexpected announcement of reducing cash in the banking…

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India’s industrial output growth hits three-month low

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India’s industrial output growth hits three-month low

Photo used for representation purpose only. | Photo Credit: K. Pichumani India’s industrial output growth hit a three-month low of 3.7% in June, from a revised 5.3% in May, according to official data, with consumer durables’ production slipping back into contraction mode, and manufacturing growth slowing to 3.1% from 5.8% in May. The data released…

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Direct tax collections rise 16% to ₹6.53 lakh crore till August 10 in FY24

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Direct tax collections rise 16% to ₹6.53 lakh crore till August 10 in FY24

Image used for representational purpose only. | Photo Credit: S. Siva Saravanan Gross direct tax collection grew 15.73% to ₹6.53 lakh crore till August 10 in the current fiscal, the Income Tax department said on August 11. Net direct tax collection after adjusting refunds stands at ₹5.84 lakh crore, which is 17.33% higher than the…

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Explained | Will the Federal fund hike impact developing country debt?

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Explained | Will the Federal fund hike impact developing country debt?

The story so far: In the recently concluded Federal Open Market Committee meeting held on 26 July 2023, it was decided to increase the targeted federal funds rate to 5.25- 5 5%, i.e., yet another increase of the cost of funds by 25 basis points. With this, the federal funds rate has reached levels higher…

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Markets fall post RBI monetary policy decision

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Markets fall post RBI monetary policy decision

Benchmark equity indices declined on Thursday post the RBI monetary policy, dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the U.S. inflation data announcement. The Reserve Bank of India (RBI) on Thursday left its key interest rates unchanged for…

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