Category: Business

Business

Pakistan’s new President Zardari to not take salary; cites economic hardship of people

March 13, 2024 admin

Chief Justice of Pakistan Qazi Faez Isa, right, administers the oath of office to newly elected President Asif Ali Zardari during a ceremony at the Presidential Palace, in Islamabad, Pakistan on March 10, 2024. | Photo Credit: AP Pakistan’s newly-elected President Asif Ali Zardari on March 13 announced that he would not draw any salary…

Business

As Vladimir Putin orchestrates his reelection, a resilient Russian economy is a key selling point

March 13, 2024 admin

Russians are finding that a few imported staples, like fruit, coffee and olive oil, have shot way up in price. Most global brands have disappeared — or been reincarnated as Russian equivalents under new, Kremlin-friendly ownership. A lot more Chinese cars are zipping around the streets. Those who want a particular luxury cosmetic may be…

Business

Industrial output growth slows to 3.8% in January

March 12, 2024 admin

The production of capital goods picked up pace in January. File | Photo Credit: Reuters The industrial output growth slowed to 3.8% in January, from an upgraded uptick of 4.24% in December. The manufacturing sector’s growth slowed to 3.2% from 4.5% a month ago, even as the uptick in mining and electricity generation accelerated to…

Business

Retail inflation eases marginally to 5.09% in February

March 12, 2024 admin

Prices of food remained elevated. File | Photo Credit: SUSHIL KUMAR VERMA India’s retail inflation remained virtually unchanged at 5.09% in February from 5.10% in January, even as food prices paid by consumers rose from 8.3% to 8.66%, the National Statistical Office said on March 12. The industrial output growth slowed to 3.8% in January,…

Business

Rupee falls 3 paise to close at 82.78 against U.S. dollar

March 12, 2024 admin

Image used for representational purpose only. | Photo Credit: Reuters The rupee consolidated in a narrow range and settled for the day 3 paise lower at 82.78 (provisional) against the U.S. dollar on Tuesday, as market participants remained on the sidelines ahead of the release of key macroeconomic data. Forex traders said the Indian rupee…

Business

Piyush Goyal: India’s exports will close fiscal at same level as last year despite uncertainties

March 12, 2024 admin

Union Minister of Commerce & Industry Piyush Goyal. File | Photo Credit: PTI Commerce and Industry Minister Piyush Goyal has exuded confidence that during this fiscal, the country’s goods and services export numbers will be at the same level; as it was last year despite slowdown and uncertainties in the global trade. He also said…

Business

Several commercial team members resigned as part of strategic restructuring: SpiceJet

March 12, 2024 admin

As part of SpiceJet’s strategic restructuring, several members of the commercial team have left the company, says airline spokesperson. | Photo Credit: Reuters SpiceJet on March 12 said several members of its commercial team have resigned with immediate effect, as part of a strategic restructuring at the airline. On March 11, sources said the airline’s…

Business

RBI’s proposal for a disclosure framework to ascertain climate-related financial risks | Explained

March 12, 2024 admin

The story so far: Seeking to institute a framework for regulated entities to tackle climate-related financial risks, the Reserve Bank of India (RBI) on February 28 presented draft guidelines on Disclosure framework on Climate-related Financial Risks, 2024. The Statement on Developmental and Regulatory Policies, presented along with the Monetary Policy statement on February 8, 2023,…

Business

Markets trade firm on buying in bank stocks

March 12, 2024 admin

After a firm beginning, the 30-share BSE Sensex climbed 376.38 points to 73,879.02 in early trade on March 12, 2024. File | Photo Credit: ANI Equity benchmark indices climbed in early trade on March 12 amid buying in blue-chip stocks like HDFC Bank and ICICI Bank along with sustained foreign fund inflows. After a firm…

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Rupee trades in narrow range against U.S. dollar in early trade

March 12, 2024 admin

The rupee witnessed range-bound trading in initial deals against the U.S. dollar on March 12. Image for representation purposes only. File | Photo Credit: Reuters The rupee witnessed range-bound trading in initial deals against the U.S. dollar on March 12, as market participants remained on the sidelines ahead of the release of key macroeconomic data….

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