- 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…
- Business
- December 16, 2024
Wholesale Price Index November 2024: Down By 0.06%- Check Latest Numbers
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.89 per cent (Provisional) for the month of November, 2024 (over November, 2023). Positive rate of inflation in November, 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, textiles, machinery & equipment, etc. Month-over-Month Change in Major Groups of WPI: Primary Articles…
- Business
- December 16, 2024
Bloomberg $100 Billion Club: Two Big Indian Billionaires Out? See Names
The wedding celebration of Indian billionaire Mukesh Ambani ’s son Anant earlier this year was the stuff of tabloid fantasy: a seven-month extravaganza that saw Rihanna and Justin Bieber flown in to entertain guests across exotic locales from Mumbai to the Italian Riviera. The event — which cost $600 million by some estimates — offered a window into the supreme confidence of the…
- Business
- December 14, 2024
JP Nadda Dismisses Swiss NGO’s Allegations On Cerelac – Is It Safe For Consumption?
JP Nadda recently rubbished a Swiss NGO’s allegations on Nestle’s Cerelac, which is a baby food brand. The NGO’s report had claimed that Nestle’s Cerelac, that is sold in India contains 2.7 grams of added sugar per serving, unlike its counterparts that are sold in the UK and Germany. The firm had therefore faced a significant amount of scrutiny in the market and…
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