- Business
- December 21, 2024
GST Council Postpones Decision to Cut Tax on Insurance, Rate Panel Defers Report Submission
Jaisalmer: A GST Council meeting on Saturday postponed a decision on reducing taxes on health and life insurance, while the much talked- about GoM recommendation of rate rejig in 148 items was not tabled before the Council. Some members of the Council, chaired by Union Finance Minster Nirmala Sitharaman and comprising her state counterparts, felt that more deliberations were required before a final…
- Business
- December 20, 2024
Google Announces Major Job Cuts, Slashes 10% of Management Positions
New Delhi: In a major cost-cutting move, tech giant Google has slashed its management positions by 10%, CEO Sundar Pichai announced during a company-wide meeting. Pichai, at the all-hands meeting on Wednesday, December 18, outlined the significant reduction across manager, director, and vice president roles, according to insider sources cited by Business Insider. While some roles have been downgraded to individual contributor positions,…
- Business
- December 20, 2024
New Zealand Falls into Recession – What Are The Reasons?
New Zealand’s economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was slashed, a dire result that cements the case for more aggressive rate cuts. The shock news sent the local dollar to a fresh two-year low of $0.5614 , having already shed 2.2% in the wake of a hawkish…
- Business
- December 19, 2024
FOMC Outcome: Fed Cuts Rate By 25 Bps In Biden Era’s Last Meeting
The Federal Reserve concluded its final policy meeting of 2024 with a closely watched decision on interest rates. Kicking off on December 17, the two-day meeting culminated in a December 18 press conference, where Fed Chair Jerome Powell announced a rate cut. US Fed Meeting Outcome The Federal Reserve concluded its December 2024 meeting with a decision to lower the federal funds rate…
- Business
- December 17, 2024
Rupee Hits Record Low – Factors Driving INR Down
Mumbai, Dec 17 (PTI) The rupee settled flat at 84.91 against the US dollar on Tuesday, weighed down by disappointing trade balance data and weak domestic markets. Forex traders said the rupee is likely to remain under pressure due to concerns over slowdown in the economy and dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at…
- Business
- December 17, 2024
Lower Q2 GDP Growth A Temporary Blip; Economy To Improve In Coming Quarters: Sitharaman
New Delhi, Dec 17 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said the lower-than-expected GDP growth of 5.4 per cent in the second quarter was a “temporary blip” and the economy will see healthy growth in the coming quarters. Replying to a debate in the Lok Sabha on the first batch of Supplementary Demands for Grants, she said India has seen “steady and…
- Business
- December 17, 2024
ITC-ITC Hotels Demerger Update: Company Fixes Record Date Following NCLT Order – Details
ITC-ITC Hotels Demerger: ITC Limited has announced the demerger of its Hotels business into a separate entity, ITC Hotels Limited, effective January 1, 2025. The move follows the approval of the Scheme of Arrangement by the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench, in an order dated October 4, 2024. The certified copy of the NCLT order was received by ITC Limited…
- Business
- December 16, 2024
Govt Launches Rs 1,000-Crore Scheme to Ease Post-Harvest Loans for Farmers
Union food minister Pralhad Joshi on Monday launched a Rs 1,000 crore credit guarantee scheme to help farmers easily access post-harvest loans by leveraging electronic warehouse receipts. The scheme aims to reduce banks’ reluctance to lend against electronic negotiable warehouse receipts (e-NWRs) issued by Warehousing Development and Regulatory Authority (WDRA) registered repositories. “We have provided a corpus fund of Rs 1,000 crore. The…
- Business
- December 16, 2024
Tata Faces Pressure In Starbucks Joint Venture As City Dwellers Cut Spending
New Delhi: India’s Tata Consumer Products (TACN.NS), opens new tab will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world’s most populous country, its top boss said on Monday. “We will calibrate for the short term — maybe instead of opening 100, we will open 80…
- Business
- December 16, 2024
2024 Was Big For Bitcoin. States Could See A Crypto Policy Blitz In 2025 In Spite Of The Risks
HARRISBURG: The new year will usher in the bitcoin-friendly administration of President-elect Donald Trump and an expanding lobbying effort in statehouses that, together, could push states to become more open to crypto and for public pension funds and treasuries to buy into it. Proponents of the uniquely volatile commodity argue it is a valuable hedge against inflation, similar to gold. Many bitcoin enthusiasts…
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