Category: Business

Business

IL&FS Transportation to sell JSEL expressway project for ₹1,343 crore, equity value ₹1

October 20, 2023 admin

IL&FS deal to sell Jorabat Shillong Expressway Limited is expected to close on October 31, 2023. | Photo Credit: Reuters The scam hit IL&FS Transportation Networks Limited said it has entered into a Restated Share Purchase Agreement (SPA) on October 19, 2023 with Sekura Roads Private Limited to sell and transfer the entire equity shareholding held…

Business

Monetary policy ought to remain actively disinflationary: RBI governor Shaktikanta Das

October 20, 2023 admin

RBI governor Shaktikanta Das delivers the plenary address at the ‘Kautilya Economic Conclave’, in New Delhi, on October 20, 2023. | Photo Credit: PTI Reserve Bank of India (RBI) governor Shaktikanta Das on October 20 stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of…

Business

Reserve Bank of India opens sub-office in Arunachal Pradesh’s Itanagar

October 20, 2023 admin

Michael Debabrata Patra, RBI deputy governor, inaugurated the sub-office of the Reserve Bank of India, in Itanagar, Arunachal Pradesh, on October 20. File | Photo Credit: The Hindu Reserve Bank of India (RBI) has announced the opening of its sub-office in Itanagar, Arunachal Pradesh in the northeast of India. Dr. Michael Debabrata Patra, deputy governor, RBI,…

Business

Markets continue to fall on weak global trends, soaring crude oil prices

October 20, 2023 admin

A general view of the Bombay Stock Exchange. | Photo Credit: Reuters Equity benchmark indices fell in early trade on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments. Falling for the third day running, the 30-share BSE Sensex fell 320.63 points to…

Business

Rupee falls 5 paise to 83.18 against US dollar in early trade

October 20, 2023 admin

At the interbank foreign exchange, the domestic unit opened weak at 83.17 against the dollar and then touched the lowest level of 83.20 against the greenback. File The rupee depreciated by 5 paise to 83.18 against the US dollar in early trade on Friday due to unabated foreign fund outflow amid rising crude oil prices….

Business

India’s share of global growth to rise to 18% in 5 years: IMF official

October 19, 2023 admin

Representational image. | Photo Credit: REUTERS India’s contribution to global economic growth will rise by 2 percentage points in 5 years as the Indian economy is projected to grow faster in the coming years, a senior International Monetary Fund (IMF) official said on Thursday. “Currently China and India’s contribution to global growth is 50%,” said Krishna…

Business

Google to assemble Pixel phones in India from 2024

October 19, 2023 admin

Google Inc. set a 2024 target to assemble its Pixel line of smartphones in India, the firm announced at its annual Google for India event on Thursday. Executives sidestepped questions on where the assembly would take place, and how much sourcing of components would be done locally, saying that negotiations with assembly partners had not…

Business

Centre Tweaks Licensing Norms For Laptop, Computer Imports. Details Here

October 19, 2023 admin

The government today tweaked curbs on imports of laptops and computers. (Representational) New Delhi: The government today tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere ‘authorisation’ upon detailing quantity and value. The new ‘import management system’ is aimed at…

Business

Rupee rises 5 paise to close at 83.23 against U.S. dollar

October 19, 2023 admin

The rupee traded in a narrow range to settle 5 paise higher at 83.23 (provisional) against the U.S. dollar on Thursday, tracking softening crude prices in the international markets amid lingering geopolitical uncertainties. However, foreign fund outflows, a weak greenback overseas and a negative trend in domestic equities weighed on investor sentiments, forex traders said….

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