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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…
US stocks drifted on Wednesday as fresh signs of weakness in the job market stoked caution among investors. The S&P 500 fell 0.3% in early trading, though it remained near last week’s record high. The Dow Jones Industrial Average declined 51 points, or 0.1%, while the Nasdaq composite dropped 0.4%, AP reported.Treasury yields fell sharply…
IMF economist Shekhar Aiyar has been appointed as the new Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER), the think tank announced on Wednesday. He is set to take charge in November, news agency PTI reported.Aiyar currently serves as Assistant Director in the Research Department of the International…
Gold rate today: Gold prices surged by Rs 1,100 on Wednesday to cross the Rs 1.21 lakh per 10 grams mark in the national capital, tracking firm global cues amid the US government shutdown after Congress failed to approve fresh federal funding.According to the All India Sarafa Association, 99.9 per cent purity gold jumped to…
