In this issue

February 07, 2023

Rupee falls 1% as robust US jobs data stokes Fed rate hike fears

The rupee weakened by 89 paise, or 1.08 per cent, vis-à-vis the US dollar on Monday, suffering its biggest single-day fall in four months on the back of unexpectedly strong US employment data, which stoked fears that the US Federal Reserve would hike rates for longer than anticipated.

1 min

Adani Group prepays loans worth $1.11 bn

Promoter-pledged shares in transmission, ports, green energy arms will be released

1 min

Vistara adds HK, Mauritius to its flight path

Vistara plans to launch services to Hong Kong and Mauritius, and connect Mumbai with Europe as the airline sharpens its international focus.

1 min

PAG bets bigon Indian real estate as NBFCs go slow on developer loans

PAG analternative investment firm focused on Asia-Pacific APAC) has taken aliking to Indian real estate, entering into multiple debt deals with property developers inthe country. This comes at atime when most domestic non-banking companies NBFCs) are going slow on lending to property developers.

3 mins

Tata Steel sees 2,224-cr loss against profit expectations

Recession concerns, elevated energy costs affect performance; revenue in line with estimates

2 mins

Viplans to get back in the game but fundraising a challenge

Vodafone-Idea is working on a multi-pronged strategy to begin its long journey to get back in the game but much hinges on how much money it can raise following the government's decision to go for equity conversion last week.

2 mins

Vehicle sales accelerate 14% on weddings, rural demand

Driven by festival and wedding seasons and more money in the hands of rural population through crop sales, automobile retail sales in India witnessed a 14 per cent year-on-year (YoY) jump in January, said data shared by the Federation of Automobile Dealers Associations (FADA).

1 min

PM Awas, Jal Jeevan to create rural jobs, justify MGNREGS cut: CEA

The Centre’s push towards rural housing and water supply infrastructure will lead to the kind of job creation in rural areas that justifies lesser allocation to its flagship rural employment guarantee scheme, Chief Economic Advisor CEA) V Anantha Nageswaran said on Monday.

2 mins

‘In CIF and CFR contracts, seller bears risk of freight rate variation’

We export machinery and equipment under CIF/CFR delivery terms. Quite often, the freight is less than what we estimated when we entered into the contract. So, we end up making some more profit. Are we violating any Customs or FEMA laws?

2 mins

PSBs' profit jumps 66% on healthy interest margins

Eleven _ public-sector E banks PSBs) reported an average of 65.7 per cent year-on-year YoY) growth in net profit at 28,620 crore in the quarter ended December 2022 Q3FY23).

1 min

IL&FS creditors set to get 3,200-cr interim payout

Creditors to IL&FS Financial Services IFIN) will get an interim payout of 23,200 crore under the NCLAT-approved revised distribution framework.

1 min

State-run coal firms to pay more cess to fund pension

The coal ministry has given in-principle approval” to a proposal to increase the cess levied on coal production from 210 per tonne to 15 per tonne to replenish the pension fund. This may secure the postretirement benefits of more than 550,000 pensioners of public sector coal mines.

1 min

₹21-trillion investment proposals in the kitty

Manufacturing accounts for 55% of the total; PM to inaugurate GIS on Feb 10

1 min

2,400 DEAD IN TURKEY, SYRIA QUAKES

A huge earthquake killed more than 2,400 at the time of going to press) people and injured thousands more on Monday in Turkey and northwest Syria, flattening apartment blocks and heaping more destruction on Syrian cities already devastated by years of war.

2 mins

Will ChatGPT replace you? Sales euys think so, economists don’t

Finance sector employees also don't see their jobs being at risk: MLIV Pulse survey RETAIL INVESTORS SEE Al AS A RISK TO THEIR JOB

2 mins

What will drive global growth?

Ageing populations are likely to slow capital formation in North Asia, hurting global growth

4 mins

Unemployment rate falls, but still too high

The unemployment rate in India fell to7.1 per cent in January 2023 from 8.3 per cent in December 2022. This is a sharp fall, not just from the December level but also the levels of the preceding two months that averaged at around 8 per cent.

3 mins

A breather for ANIL

Among its renewable energy projects, the Adani group's planned investments in green hydrogen would be the easiest to scale back given the govt's benign targets

4 mins

India drops a rank, now third on MSCI EM index

Red-hot Taiwanese market, Adani rout erode country's weighting

2 mins

Regulator’s daily transfer diktat to further pinch brokers

In anew paper, Sebi has proposed the daily transfer of client funds to clearing corporations

2 mins

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