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MUMBAI: RBI has taken a series of steps to bolster consumer protection in the financial sector, starting with a move that makes access to digital banking a basic entitlement for holders of Jan Dhan and other no-frills accounts.RBI said it will review the framework for basic accounts, which are offered without minimum balance requirements, to…
NEW DELHI: Manufacturing activity moderated in Sept compared to the previous month, but remained robust, as new orders slowed and job creation slipped to a one-year low while selling prices hit a 12-year high, a survey showed on Wednesday.At 57.7 in Sept, down from 59.3 in Aug, the HSBC India Manufacturing Purchasing Managers’ Index pointed…
Warren Buffett’s Berkshire Hathaway is nearing a deal to acquire Occidental Petroleum’s petrochemical business for about $10 billion, a person familiar with the matter said. It would be Berkshire’s largest deal since its acquisition of Alleghany in 2022 for $13.7 billion. Representatives for Occidental and Berkshire didn’t reply to messages seeking comment. Wall Street Journal…
MUMBAI: Reserve Bank of India unveiled on Wednesday its most comprehensive reforms in over a decade, aimed at countering US-driven headwinds and expanding credit to companies, while deepening capital market activity. Banks can now finance mergers and acquisitions, and IPOs more freely, while limits on loans against shares and listed debt securities have been raised.Central…
Piyush Goyal (File photo) NEW DELHI: As companies from the EFTA Bloc — Switzerland, Norway, Iceland and Liechtenstein — promised investment into India as part of the $100 billion commitment under the trade deal, Swiss state secretary for economic affairs Helene Budliger Artieda called for the need for a bilateral investment treaty(BIT), while Liechtenstein sought…
NEW DELHI: Significant price cuts post GST reduction saw retail of cars and SUVs hit record numbers in Sept with the festive fervour adding to the excitement. Companies say that the strong momentum is likely to continue till Diwali later this month even though there could be challenges in catering to the rush.Maruti, which benefitted…
The US private sector lost 32,000 jobs in September, according to payroll processor ADP, defying analysts’ expectations of employment growth. The biggest losses came in leisure and hospitality, professional services, and financial activities, AFP reported.Hiring also contracted in trade, transportation and utilities, along with manufacturing, the report showed.“Despite the strong economic growth we saw in…
The US manufacturing sector contracted for the seventh consecutive month in September, although the pace of decline eased slightly as production and demand showed marginal improvement.The Institute for Supply Management’s (ISM) manufacturing index rose to 49.1 in September from 48.7 in August. The figure remained below the 50-point mark that separates expansion from contraction, AFP…
NEW DELHI: The Oberoi Group Wednesday announced the launch of “Asmi by Oberoi” —wellness offering that “reflects the brand’s commitment to creating experiences.” Derived from timeless Indian wisdom and supported by contemporary practice, the group says ASMI is a “lifestyle framework designed to strengthen alignment and vitality across five pillars: movement, nutrition, bodywork, breath work,…
Switzerland’s State Secretary for Economic Affairs Helene Budliger (Photo- PTI) Switzerland’s State Secretary for Economic Affairs Helene Budliger on Wednesday said that the free trade agreement between India and the European Free Trade Association (EFTA) is set to bring transformative changes in two-way economic ties and could not have come at a better time. The…
