In this issue

October 01, 2022

RBI raises repo rate by 50 bps to 3-year high

GDP GROWTH FORECAST FOR FY23 CUT TO 7% FROM 7.2% INFLATION TARGET RETAINED AT 6.7%; TRAJECTORY REMAINS UNCERTAIN: GUV

2 mins

Rupee gains 50 paise vs $ to end at 81.35

The rupee gained sharply on Friday as the US dollar eased and reports said the Reserve Bank of India (RBI) had nudged public sector oil companies to cut down on dollar purchases in the spot market, according to dealers.

1 min

India Inc turns to tech, outreach to motivate 'quiet quitters'

"I'm exhausted. That's all there is to it, honestly," says a junior engineer who works with a leading Indian IT firm in New Delhi.

4 mins

Sebimandates tighter disclosure norms for IPOS

Allows pre-filing of IPO documents

3 mins

Markets rebound after seven-day losing streak

Sensex zooms 1,000 pts; Sept returns in the red

1 min

ED order to seize ₹5.5K cr from Xiaomi gets approval

In a major setback for Xiaomi India, the Central government-appointed authority on Friday approved the seizure order of ₹5,551.27 crore passed by the Enforcement Directorate (ED) against the Chinese mobile manufacturer in April this year.

2 mins

Talks with Indus on softer payment terms: Vi

Vodafone Idea (Vi) is in discussions with Indus Towers Limited for softer payment terms, the telecom company said in a stock exchange notification late Thursday.

1 min

Pegatron sets up India's third iPhone factory

To invest ₹1,100 crore in Chennai plant; may create 14,000 jobs

2 mins

₹ fluctuations not a factor for MPC's consideration'

After the monetary policy committee (MPC) raised the repo rate by 50 basis points to 5.90 per cent, the Reserve Bank of India (RBI) management, including Governor SHAKTIKANTA DAS and Deputy Governor MICHAEL PATRA, spoke to the media on various issues. Edited Excerpts:

2 mins

MISSING THE MARK

Inflation seen staying above 4% in FY23, to average 5.2% in FY24 Das says RBI won't make public the communication on failure of achieving target to govt

2 mins

Putin declares captured regions part of Russia

Ukraine denies talks with Putin, fast tracks its Nato membership bid

1 min

Euro zone inflation hits record high

Euro zone inflation zoomed past forecasts to hit a fresh record high this month, reinforcing expectations for another jumbo interest rate hike from the European Central Bank in October.

1 min

Auto, banks rule the roost in H1FY23; IT, metals laggards

M-cap of Adani group goes up 55.2%, while Tata and Ambani biz houses' declines 10%

2 mins

Earnings to drag US markets lower, says Chris Wood

Earnings downgrades amid an economic recession is the next big worry for the US markets that are already grappling with inflation-related woes, said Christopher Wood, global head of equity strategy at Jefferies in his recent note to investors, GREED & fear. This, he feels, can trigger more downside and the US markets can drop substantially lower than their June 2022 lows.

2 mins

Kharge may have upper hand in race for Cong prez post

Senior Congress leader from Karnataka Mallikarjun Kharge (80) filed his nomination for the election of Congress president as Digvijaya Singh withdrew from the race.

1 min

Macro issues not impacting demand: Merc

Mercedes Benz India did not see any of the current macro-economic headwinds to adversely impacting the strong volume run the luxury car market leader was and expected India to be one of its top growth markets globally this year, said Martin Schwenk, Managing Director and CEO.

1 min

From cubicles to smart cabins, co-working is back with a bang

Demand fuelled by hybrid work models, digital nomads, post-Covid urban loneliness

3 mins

Covid-19 booster dose coverage widens to 27%

The 75-day-long Amrit Mahotsav campaign also helped salvage wastage of vaccine doses

1 min

Tiruppur may see 40% fall in export demand

After posting a 34 per cent increase in exports during 2021-22, India's largest garment hub Tiruppur is staring at a 30-40 per cent fall in export demand during the current financial year.

2 mins

Constitutional pundit

R VENKATARAMANI I ATTORNEY GENERAL OF INDIA

4 mins

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