The new Foreign Trade Policy (FTP), scheduled to be announced at the end of this month, is expected to focus on enhancing the ease of doing exports from India, industry body PHD Chamber of Commerce and Industry said on Friday. The upcoming FTP is expected to be the key to defining the strategy […]
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Rupee breaches 81 mark for a new lifetime low
Rupee tasted yet another lifetime low on Friday morning after the US dollar index strengthened to a two-decade high this week, on hopes that demand for safe-haven currency such as the dollar would pick up. This morning, the Rupee opened 25 paise lower from the previous session to touch a […]
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Indian stocks fall on US Fed’s rate hike move; Rupee depreciates to new low
Indian stocks declined, though marginally, on Thursday morning in line with weak global cues, following yet another policy rates hike by the US Federal Reserve in its fight against high inflation. However, a steep decline was likely cushioned as investors seemed to have already discounted the possible rate hikes by […]
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Gautam Adani is now world’s second-richest person
Gautam Adani is now the second richest person in the world, according to Forbes. Currently worth $154.7 billion, Mr Adani surpassed Jeff Bezos and Bernard Arnault to grab the second spot on the rich list. (NDTV)
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IIT Madras set to launch certification program on e-Mobility for industry needs
The Indian Institute of Technology Madras (IIT Madras) is all set to launch an industry-oriented online certificate program on e-Mobility for working professionals. The certificate program was conceived with inputs from industry experts and would be continuously upgraded based on technology trends, market trends and industry needs. A unique feature […]
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India bans export of broken rice with immediate effect
India banned the export of broken rice with immediate effect. The export policy has been revised from “free” to “prohibited”. Some exports will, though, be allowed till September 15, including for where loading of broken rice on the ship has commenced before this ban order, where the shipping bill is […]
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From 2 per cent to 13 percent, Nirmala Sitharaman explains India’s Russian crude oil import
The share of Russian oil in India’s overall oil import basket increased from 2 percent to 13 percent in a couple of months after the beginning of the Russia-Ukraine war, which led to a spike in energy prices globally, Union Finance Minister Nirmala Sitharaman said on Thursday. Addressing an event […]
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Sensex, Nifty rangebound; Tata Steel, Infosys, RIL fall
The Indian stock market’s key indices, Sensex and Nifty, were trading almost flat in the morning session on Friday. The 30 stock S&P BSE Sensex was trading 46.97 points or 0.08 percent down at 58,719.62 points at 11.33 am against its previous day’s close at 58,766.59 points. Earlier, the Sensex started […]
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Starbucks names Indian-origin Laxman Narasimhan as new CEO
The coffee giant Starbucks on Thursday (local time) named Indian-origin Laxman Narasimhan as its new Chief Executive Officer. Narasimhan will join Starbucks on October 1, replacing Howard Schultz, who will continue as interim chief until April 2023. The 55-years-old, Indian man has served as chief executive of the maker of Lysol and Enfamil baby […]
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Stock markets closed today for Ganesh Chaturthi, trade to resume on Thursday
Indian stock markets, including the National Stock Exchange of India and Bombay Stock Exchange, are closed today on the occasion of Ganesh Chaturthi festival. Apart from the stock markets, the commodity markets, and trading in forex too are closed. Trading will resume on Thursday. On Tuesday, the Indian stock market’s key indices, […]
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Gautam Adani now world’s 3rd richest person, overtakes Louis Vuitton chief
Business conglomerate Adani Group’s chairman Gautam Adani is now the world’s third-richest person after overtaking France’s Bernard Arnault according to Bloomberg Billionaires Index. With a total net worth of USD 137.4 billion, 60-year-old Adani has surpassed the wealth of Louis Vuitton chairman Arnault and is now just behind business magnate […]
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Indian stocks extend losses into third straight day
Indian stocks extended their losses into the third straight session tracking a sharp fall in stocks in the US market coupled with some profit booking after the recent month-long bull run. At 9.27 a.m., Sensex traded at 58,661.81 points, down 112.06 points or 0.19% percent, whereas Nifty traded at 17,478.75 […]
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RBI seeks public feedback on changes in payment systems
The Reserve Bank of India (RBI) has invited feedback from the public on the various changes proposed in the payments system, including the possibility of imposing tiered charges on transactions done through the Unified Payments Interface (UPI). As announced in the Statement on Developmental and Regulatory Policies dated December 08, […]
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Indian stocks decline marginally on profit booking, Sensex still above 60,000
Indian stock indices started Thursday’s session with minor losses primarily due to profit booking after the recent bull run. Barring today’s marginal losses, the latest bull run in Indian stocks has been continuing for the past five weeks on a trot. At 9.21 a.m., Sensex traded at 60,135.12 points, down […]
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After twitter bid, Elon Musk now sets eye on Manchester United
After the failed Twitter bid that has left Tesla’s chief executive officer (CEO) in an arduous legal battle, Elon Musk has now set his eyes on buying the English football club Manchester United. “To be clear, I support the left half of the Republican Party and the right half of the Democratic Party,” […]