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IndiaTV Business: Google News Feed: Digest for October 12, 2022

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Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Invest Rajasthan 2022 Summit: Adani Group chairman Gautam Adani addressed Invest Rajasthan 2022 Summit, in Jaipur on Friday (October 7). 
The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

RBI to soon launch e-rupee on pilot basis for limited use

Friday 07 October 2022 12:23 PM UTC+00
Digital money: The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of Rs 22,500 crore, must report a net profit in three out of the past five years to be eligible for bidding for IDBI Bank. Also, a maximum of four members would be allowed in a consortium.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Markets fall in early trade on weak global trends

Tuesday 11 October 2022 11:34 AM UTC+00
Business News: Equity benchmark indices fell in early trade on Tuesday in line with weak global market trends and foreign fund outflows.

Rupee slips 1 paisa to 82.41 against US dollar in early trade

Tuesday 11 October 2022 11:34 AM UTC+00
Rupee v/s Dollar: The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 percent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 percent in its value this year," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted. Markets await US CPI data and Indian CPI data for further cues. In the domestic equity market, the 30-share BSE Sensex was trading 158.97 points or 0.27 percent down at 57,832.14, and the broader NSE Nifty fell 50.35 points or 0.29 percent to 17,190.65. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,139.02 crore on Monday, according to exchange data.

IMF cuts India's economic growth forecast to 6.8% for 2022-23

Tuesday 11 October 2022 01:25 PM UTC+00
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 percent projected in January this year.
CNG price: Indraprastha Gas Limited (IGL) on Saturday increased the price of Compressed Natural Gas (CNG) by Rs 3 per kg across Delhi NCR. The revised rates across the region will be in effect from today.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Markets fall in early trade on weak global trends

Tuesday 11 October 2022 11:34 AM UTC+00
Business News: Equity benchmark indices fell in early trade on Tuesday in line with weak global market trends and foreign fund outflows.

Rupee slips 1 paisa to 82.41 against US dollar in early trade

Tuesday 11 October 2022 11:34 AM UTC+00
Rupee v/s Dollar: The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 percent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 percent in its value this year," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted. Markets await US CPI data and Indian CPI data for further cues. In the domestic equity market, the 30-share BSE Sensex was trading 158.97 points or 0.27 percent down at 57,832.14, and the broader NSE Nifty fell 50.35 points or 0.29 percent to 17,190.65. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,139.02 crore on Monday, according to exchange data.

IMF cuts India's economic growth forecast to 6.8% for 2022-23

Tuesday 11 October 2022 01:25 PM UTC+00
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 percent projected in January this year.

'The worst is yet to come': IMF on global economy

Tuesday 11 October 2022 03:32 PM UTC+00
The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Markets fall in early trade on weak global trends

Tuesday 11 October 2022 11:34 AM UTC+00
Business News: Equity benchmark indices fell in early trade on Tuesday in line with weak global market trends and foreign fund outflows.

Rupee slips 1 paisa to 82.41 against US dollar in early trade

Tuesday 11 October 2022 11:34 AM UTC+00
Rupee v/s Dollar: The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 percent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 percent in its value this year," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted. Markets await US CPI data and Indian CPI data for further cues. In the domestic equity market, the 30-share BSE Sensex was trading 158.97 points or 0.27 percent down at 57,832.14, and the broader NSE Nifty fell 50.35 points or 0.29 percent to 17,190.65. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,139.02 crore on Monday, according to exchange data.

IMF cuts India's economic growth forecast to 6.8% for 2022-23

Tuesday 11 October 2022 01:25 PM UTC+00
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 percent projected in January this year.

'The worst is yet to come': IMF on global economy

Tuesday 11 October 2022 03:32 PM UTC+00
The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said.

Infosys President Ravi Kumar S resigns

Tuesday 11 October 2022 03:48 PM UTC+00
IT services major Infosys on Tuesday said its president Ravi Kumar S has resigned from his post. The company did not give any reason for the move which comes just days ahead of its second-quarter earnings announcement.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Markets fall in early trade on weak global trends

Tuesday 11 October 2022 11:34 AM UTC+00
Business News: Equity benchmark indices fell in early trade on Tuesday in line with weak global market trends and foreign fund outflows.

Rupee slips 1 paisa to 82.41 against US dollar in early trade

Tuesday 11 October 2022 11:34 AM UTC+00
Rupee v/s Dollar: The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 percent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 percent in its value this year," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted. Markets await US CPI data and Indian CPI data for further cues. In the domestic equity market, the 30-share BSE Sensex was trading 158.97 points or 0.27 percent down at 57,832.14, and the broader NSE Nifty fell 50.35 points or 0.29 percent to 17,190.65. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,139.02 crore on Monday, according to exchange data.

IMF cuts India's economic growth forecast to 6.8% for 2022-23

Tuesday 11 October 2022 01:25 PM UTC+00
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 percent projected in January this year.

'The worst is yet to come': IMF on global economy

Tuesday 11 October 2022 03:32 PM UTC+00
The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said.

Infosys President Ravi Kumar S resigns

Tuesday 11 October 2022 03:48 PM UTC+00
IT services major Infosys on Tuesday said its president Ravi Kumar S has resigned from his post. The company did not give any reason for the move which comes just days ahead of its second-quarter earnings announcement.

Hackers steal over $100 mn from top crypto exchange Binance

Saturday 08 October 2022 06:25 AM UTC+00
Hackers have stolen more than $100 million from the world's largest cryptocurrency exchange Binance. The development was confirmed by The Binance Blockchain, also known as BNB Chain. 

Direct tax collection jumps 24 pc in first half of FY23

Sunday 09 October 2022 08:17 AM UTC+00
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday.
FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper.
Data localization and UK companies being allowed to bid for Indian government contracts are among the issues causing a possible deadlock in the final stages of the India-UK free trade agreement (FTA) negotiations towards a Diwali draft completion deadline, according to a UK media report on Sunday. 'The Daily Telegraph' quoted a source close to the talks to say that data localisation rules that prevent foreign companies from taking data out of India and allowing UK firms to bid for public sector contracts are two key "sticking points" to a comprehensive deal.
Rupee v/s Dollar: The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Markets fall in early trade on weak global trends

Tuesday 11 October 2022 11:34 AM UTC+00
Business News: Equity benchmark indices fell in early trade on Tuesday in line with weak global market trends and foreign fund outflows.

Rupee slips 1 paisa to 82.41 against US dollar in early trade

Tuesday 11 October 2022 11:34 AM UTC+00
Rupee v/s Dollar: The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 percent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 percent in its value this year," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted. Markets await US CPI data and Indian CPI data for further cues. In the domestic equity market, the 30-share BSE Sensex was trading 158.97 points or 0.27 percent down at 57,832.14, and the broader NSE Nifty fell 50.35 points or 0.29 percent to 17,190.65. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,139.02 crore on Monday, according to exchange data.

IMF cuts India's economic growth forecast to 6.8% for 2022-23

Tuesday 11 October 2022 01:25 PM UTC+00
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 percent projected in January this year.

'The worst is yet to come': IMF on global economy

Tuesday 11 October 2022 03:32 PM UTC+00
The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said.

Infosys President Ravi Kumar S resigns

Tuesday 11 October 2022 03:48 PM UTC+00
IT services major Infosys on Tuesday said its president Ravi Kumar S has resigned from his post. The company did not give any reason for the move which comes just days ahead of its second-quarter earnings announcement.
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