Business

Markets regulator Sebi on Wednesday announced that foreign portfolio investors (FPIs) investing solely in government securities under the fully accessible route will no longer be required to provide investor group details.In a circular, Sebi said these investors will also be exempted from certain disclosure and reporting requirements applicable to regular FPIs. The changes are intended…

A US Senate committee on Wednesday advanced the nomination of President Donald Trump’s choice for the Federal Reserve board, Stephen Miran, despite concerns that he may not resign from the White House even if confirmed.Miran, who chairs the White House Council of Economic Advisers (CEA), cleared the Senate Banking Committee by a narrow 13-11 vote,…

Oracle shares surged about 35% on Wednesday after the company highlighted a surge in demand for its cloud services from AI firms, signalling a deeper push into the infrastructure supporting artificial intelligence systems. The growth in Oracle’s cloud business reflects a broader industry trend, with companies such as OpenAI and xAI ramping up spending on…

US President Donald Trump lashed out at the Federal Reserve on Wednesday after fresh data showed US producer prices unexpectedly fell in August, sharpening his demand for an immediate rate cut.In a post on his Truth Social, Trump posted “Just out: No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a…

US producer prices unexpectedly fell 0.1% in August from July, the Labor Department reported Wednesday, after a 0.7% advance the previous month.The producer price index — a measure of inflation in the supply chain before it reaches consumers — showed wholesale services prices dropped 0.2% as retailers and wholesalers absorbed costs from President Donald Trump’s…

Vedanta is in the process of acquiring land in Dhenkanal, Odisha, for its proposed three million tonnes per annum (MTPA) aluminium smelter, which the company says could create over two lakh jobs.“We are moving towards setting up a new mega aluminium plant at Dhenkanal, Odisha, (with a capacity of) three million tonnes,” said Rajiv Kumar,…

Danish pharmaceutical giant Novo Nordisk on Wednesday announced plans to reduce its global workforce by 11 percent, eliminating 9,000 positions, including 5,000 in Denmark. The move aims to save eight billion kroner ($1.3 billion) as competition intensifies for its anti-obesity treatments Ozempic and Wegovy, as reported by AFP.The company also lowered its earnings forecast for…

Former Prime Minister and noted economist Dr Manmohan Singh has been posthumously conferred the P V Narasimha Rao Memorial Award for Economics in recognition of his pivotal role in shaping India’s economic transformation and nation-building.The award was received on his behalf by his wife, Gursharan Kaur, at a ceremony held in the national capital last…

Equity mutual fund inflows fell 22% to Rs 33,430 crore in August, largely due to a sharp decline in new fund offers (NFOs), data from the Association of Mutual Funds in India (AMFI) showed on Wednesday. Despite the dip, August marked the 54th straight month of net inflows into equity schemes.In July, equity-oriented funds had…

The Cabinet Committee on Economic Affairs (CCEA) has approved the construction of a 4-lane greenfield access-controlled Mokama–Munger section of the Buxar–Bhagalpur high-speed corridor in Bihar. The project will be taken up on Hybrid Annuity Mode (HAM), covering 82.4 km at a total capital cost of Rs 4,447.38 crore, the Ministry of Road Transport & Highways…