Category: Business

Business

RBI announces steps to encourage cross-border transactions in Indian rupee

January 16, 2025 admin

Image used for representational purpose | Photo Credit: Reuters The Reserve Bank of India (RBI) on Thursday (January 16, 2025) announced liberalised norms to encourage use of Indian Rupee and local/national currencies to settle cross border transactions. The decision comes at a time when the domestic currency is sliding and touched an all-time low of…

Business

The impacts of rupee weakening

January 16, 2025 admin

The Indian rupee recently registered a sharp devaluation with respect to the dollar after remaining stable for over two years or so. What explains such a phenomenon? What are the implications? This article aims to address these issues by discussing India’s exchange rate policy and highlighting a few structural constraints in the Indian economy in…

Business

Reliance Q3 net profit rises 7.4% on rebound in retail, higher telecom earnings

January 16, 2025 admin

Reliance Industries Ltd’s profit was also up sequentially from ₹16,563 crore in the July-September quarter. File | Photo Credit: Reuters Reliance Industries Ltd on Thursday (January 16, 2025) reported a 7.4% rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose. Its consolidated net profit of ₹18,540 crore, or…

Business

Sensex, Nifty extend gains for 3rd day on strong global cues, lower U.S. inflation

January 16, 2025 admin

Image for representative purposes only | Photo Credit: PAUL NORONHA Equity benchmark indices Sensex and Nifty rallied for the third session on the trot, helped by a rally in global markets after lower-than-expected consumer inflation in the U.S. ignited hopes of more rate cuts by the Federal Reserve. The 30-share BSE index climbed 318.74 points…

Business

Rupee declines 16 paise to settle at 86.56 against U.S. dollar

January 16, 2025 admin

Image for representative purposes only | Photo Credit: Reuters The rupee depreciated 16 paise to close at 86.56 (provisional) against the U.S. dollar on Thursday (January 16, 2025), dragged down by a strong American currency overseas, elevated crude oil prices and foreign fund outflows. “However, positive domestic equity markets provided some cushion at the lower…

Business

NCLAT admits Meta, Whatsapp pleas against CCI’s ₹213.14-cr penalty over abuse of dominance

January 16, 2025 admin

The counsel appearing for Whatsapp and Meta Platform requested the appellate tribunal to stay a CCI order. Appellate tribunal NCLAT on Thursday (January 16, 2025) admitted the petitions filed by Meta Platforms and Whatsapp against an order passed by fair trade regulator CCI which imposed a penalty of ₹213.14 crore for abuse of market dominance….

Business

‘I now view Hindenburg as a chapter in my life, not a central thing that defines me’: full text of Nate Anderson’s letter announcing shutdown

January 16, 2025 admin

Hindenburg Research, a U.S. investment research group known for short-selling, will be disbanded, its founder Nate Anderson said on Wednesday (January 15, 2025). Founded in 2017 as a kind of corporate muckraker, the short- seller with around 10 employees has pushed several companies to admit accounting errors or misrepresentations. The company has wiped billions of…

Business

Adani Group share rose as Hindenburg founder announces to disband entity

January 16, 2025 admin

Adani Enterprises Limited. File | Photo Credit: Reuters Adani Group company shares rose sharply on Thursday (January 16, 2025) morning at stock exchanges hours after Hindenburg Research founder Nate Anderson announcing his decision to disband the entity. He did not specify any specific reason for this abrupt move which comes days before regime change in…

Business

The way forward for PM-KISAN

January 16, 2025 admin

Originally intended for small and marginal farmers, the PM-KISAN was later extended to all farmers who owned lan | Photo Credit: RAO GN The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), which provides yearly income support of ₹6,000 to eligible farmer families in three instalments, has been through highs and lows both in terms of coverage…

Business

Exports dipped 1% in December, trade gap eased from November’s record high

January 15, 2025 admin

Overall goods exports are now estimated to be 1.6% higher through the April to December 2024 period at $321.7 billion, while imports have risen 5.15% to $532.5 billion. Image for representation. | Photo Credit: The Hindu India’s goods exports contracted 1% year-on-year in December to a fraction over $38 billion, while imports grew 4.9% to…

Business