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Representational image of a Hyundai car at a showroom in Delhi. | Photo Credit: Reuters Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India (SEBI), according to two sources familiar with the situation. The South Korean automaker plans to raise $3 billion at a roughly…
People walk past the Bombay Stock Exchange (BSE) building, in Mumbai. | Photo Credit: PTI Equity benchmark indices declined in early trade on Wednesday (September 25, 2024) amid profit-taking as investors preferred to stay on the sidelines after a record rally and ahead of the monthly derivatives expiry. The 30-share BSE Sensex dropped 171 points…
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Image for representational purposes only. The ADB on Wednesday (September 25, 2024) said that the economy is expected to accelerate in the coming quarters on improved farm output. | Photo Credit: NAGARA GOPAL The Asian Development Bank (ADB) on Wednesday (September 25, 2024) retained India’s growth forecast for the current fiscal at 7% and said…
Read More “ADB retains India’s growth forecast at 7%; govt spending, agriculture to boost economy” »
After telecom operators, Scindia met telecom equipment makers including Dixon Technologies, Nokia, Ericsson, Sterlite Technologies and VVDN [File] | Photo Credit: REUTERS Telecom operators in a meeting with Union Minister Jyotiraditya Scindia expressed concerns over regulator Trai excluding messaging and calling apps like WhatsApp and Telegram in its recommendation on new licensing rules, sources aware…
Photo used for representation purpose only. | Photo Credit: Getty Image/iStockphoto The Periodic Labour Force Survey (PLFS) for the period between July 2023 and June 2024, released by the Labour Bureau on Monday (September 23, 2024), reported no major change in the unemployment rate, and there is minor increase in the distribution of workers in…
Read More “Unemployment rate stagnant, reveals government survey” »
From the Sensex pack, Hindustan Unilever, UltraTech Cement, Kotak Mahindra Bank, IndusInd Bank, Titan, Nestle, Bajaj Finance and Asian Paints were among the biggest laggards. File | Photo Credit: Reuters Benchmark Sensex scaled the 85,000 level and Nifty breached the 26,000 mark for the first time before paring gains to close flat in a volatile…
Read More “Sensex hits 85,000 level for first time before closing flat; FMCG, banking shares drag” »
“Tax officers have detected around 10,700 fake registrations under the GST, involving evasion of ₹10,179 crore in the ongoing all-India drive against fake companies set up to defraud the exchequer,” a senior official said on Tuesday (September 24, 2024). Central Board of Indirect Taxes and Customs (CBIC) member Shashank Priya said Aadhaar authentication of GST…
The rupee trimmed its initial gains against the U.S. currency but was still quoted higher by 120 paise to 67.60 per dollar on Thursday. | Photo Credit: Raghunathan S. R. The rupee depreciated 11 paise to close at 83.65 (provisional) against the American currency, weighed down by a muted trend in domestic equities and rising…
Read More “Rupee falls 11 paise to close at 83.65 against U.S. dollar” »
Racial bias: Black joblessness is above the national average. It was 23.3% among South Africans of mixed race. | Photo Credit: Reuters Thirty years after the end of apartheid, South Africa’s economy remains deeply divided by race, spurring political debate on the extent to which its flagship Black economic empowerment law has worked. South Africa has…
Read More “The racial divide in South Africa’s economy since the end of apartheid” »
Keeping an eye: Traders this week will be watching for U.S. harvest results. File | Photo Credit: Reuters Ample global supplies have kept speculators on the short side of the Chicago grain and oilseed markets so far this year, though droughts across many key exporters are now giving bears some pause. Top soybean exporter Brazil is…
Read More “Funds trim bearish CBOT soybean bets awaiting Brazil rains” »