Category: Business

Business

India’s manufacturing hit five-month low in September: S&P Global PMI

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India’s manufacturing hit five-month low in September: S&P Global PMI

Image for representation purpose only. | Photo Credit: Reuters India’s manufacturing sector activity moderated to a five-month low in September with new orders slowing down, as per the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI), which eased to 57.5 from 58.6 in August. A reading of 50 on the survey-based index reflects…

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Business

Markets fall in early trade on unabated foreign fund outflows

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Markets fall in early trade on unabated foreign fund outflows

Equity benchmark indices declined in early trade on Tuesday amid unabated foreign fund outflows and sluggish Asian market cues. Fall in index majors Reliance Industries and HDFC Bank also dragged the benchmark indices lower. The 30-share BSE Sensex fell 347.09 points to 65,481.32. The Nifty declined 117.3 points to 19,521. Among the Sensex firms, Maruti,…

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Business

Rupee falls 17 paise to 83.23 against U.S. dollar

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Rupee falls 17 paise to 83.23 against U.S. dollar

Image for representation | Photo Credit: V. Sudershan The rupee depreciated 17 paise to 83.23 against the US dollar in early trade on Tuesday, as a strong dollar and sustained foreign fund outflows weighed on investor sentiments. Forex traders said a weak trend in domestic equities also dented investor sentiments. At the interbank foreign exchange,…

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Business

Regulating OTT platforms reignites India’s net neutrality debate

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Regulating OTT platforms reignites India’s net neutrality debate

In recent weeks, the telecom industry loudly demanded a ‘network usage fee’ from Big Tech platforms whose traffic constitutes a major part of the data flowing through the Indian internet. Internet rights groups have pushed back on these demands, saying that they are a violation of net neutrality, the principle that all data online should…

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Business

Pakistan’s inflation rises to 31.4% y/y amid high energy prices

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Pakistan’s inflation rises to 31.4% y/y amid high energy prices

Pakistani traders went on strike against the soaring cost of living, including higher fuel and utility bills and record depreciation of the rupee against the dollar, which has led to widespread discontent among the public. File | Photo Credit: AP Pakistan’s inflation rate rose to 31.4% year-on-year in September from 27.4% in August, statistics bureau…

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Business

Over 30 Lakh Audit Reports Filed On Income Tax Department Website

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Over 30 Lakh Audit Reports Filed On Income Tax Department Website

To facilitate the taxpayers, extensive outreach programmes were carried out New Delhi: Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday. The Income-tax Department through the release appreciated taxpayers and tax professionals for making compliances on time. Those…

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Business

Adani Energy Solutions Commissions Khargar-Vikhroli Transmission Line

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Adani Energy Solutions Commissions Khargar-Vikhroli Transmission Line

The project starts in the Kharghar area of Navi Mumbai. New Delhi: Adani Energy Solutions on Monday said it has commissioned the Khargar-Vikhroli transmission line to supply an additional 1,000 MW of power to Mumbai city. “Kharghar Vikhroli Transmission Ltd (KVTL), which will enable additional power to be brought into Mumbai and thus enable in…

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Business

Reliance-Backed Dunzo Co-Founder Dalvir Suri Quits, Startup To Restructure

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Reliance-Backed Dunzo Co-Founder Dalvir Suri Quits, Startup To Restructure

Dunzo has been struggling to strike a funding deal Bengaluru: On-demand delivery platform Dunzo said today one of its four co-founders, Dalvir Suri, would leave and the cash-strapped, Reliance Industries-backed startup. It also announced an organisation-wide restructuring from this quarter. Dunzo has been struggling to strike a funding deal in the past few months and…

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Business