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BUSINESS NEWS - Page 2

IGX plans to soon launch small-scale LNG trading, awaits PNGRB nod

Indian Gas Exchange plans to soon launch small-scale LNG trading, awaits PNGRB nod

December 21, 2023 04:30 IST

This will be the first instance of exchange trading of natural gas in its liquefied or super-cooled form.

‘Objective of aligning inflation with 4% target far from assured’

RBI Bulletin: ‘Objective of aligning inflation with 4% target far from assured’

December 21, 2023 07:46 IST

While consumer price index (CPI) -based inflation for FY24 is expected to be at 5.4 per cent, for the first three quarters of 2024-25 it is projected at 4.6 per cent, according to the ‘State of the Economy’ article published in the RBI’s December bulletin.

LRS outflows drop by 37.68% in October after higher tax levy

LRS outflows drop by 37.68% in October after higher tax levy

December 21, 2023 03:00 IST

The higher TCS rates of up to 20 per cent are applicable on various international spends such as overseas tour packages which include travel related to medical treatment, business, education, pilgrimage, personal gifts and donations, family maintenance and investments.

VIVO CHARGESHEET, Vivo China, Vivo India, vivo, Indian express news, current affairs

Whole Vivo setup was directed by Vivo China to cheat Indian govt: ED chargesheet

December 21, 2023 11:11 IST

According to the chargesheet, multiple entities under the control of Vivo China resorted to using forged identity documents to acquire wrongful gains for themselves “to the detriment of Indian Laws and economic sovereignty of the country.”

WTO, india new zealand

India, New Zealand trade ministers discuss public stockholding ahead of WTO conference

December 20, 2023 20:23 IST

Union commerce and industry minister Piyush Goyal and New Zealand’s trade minister Todd McClay discussed global trade dynamics.

RBI

EnKash gets RBI nod to operate as payment aggregator

December 20, 2023 19:15 IST

EnKash, a firm facilitating corporate payments and enabling offerings for businesses, became operational in 2018.

BSE

Sensex, Nifty go into tailspin after hitting fresh all-time high levels; tank over 1%

December 20, 2023 17:44 IST

During the day, it climbed 139.9 points or 0.65 per cent to reach its record high of 21,593.

Suez Canal

Global crude oil, fuel flows via Suez Canal plunge amid Houthi threat; supplies to India largely unaffected

December 20, 2023 17:34 IST

Oil shipments to India have not been impacted so far. This is because a bulk of the country’s West Asian crude oil imports do not take that route, and tankers carrying Russian oil do not appear to be under threat from the rebels.

indian rupee

Rupee settles flat at 83.18 against US dollar

December 20, 2023 16:48 IST

Global oil price benchmark Brent crude climbed 0.78 per cent to USD 79.85 per barrel.

sensex

Sensex, Nifty hit fresh all-time high levels

December 20, 2023 11:27 IST

The 30-share BSE Sensex jumped 475.88 points to 71,913.07 -- its all-time peak -- in early trade. The Nifty climbed 138.8 points to reach its record high of 21,591.90.

National Pension System, National Pension Schemes, fiscal burden, Department of Expenditure, Finance Ministry, normal net borrowing, what is cumulative defined benefit scheme, indian express news

Govt allows extra borrowing ceiling of over Rs 60,000 crore to states for NPS

December 20, 2023 04:52 IST

. States are eligible to borrow Rs 1.43 lakh crore on the recommendation of the power ministry in FY24.

G20 trade policy, WTO on G20 trade policy, World Trade Organisation, Indias goods exports, global goods trade, G20 economies, global economic output, Economic slowdown in China, china property sector crisis, indian express news

G20 trade policy turning restrictive, says WTO

December 20, 2023 04:52 IST

This comes as India’s goods exports have been under pressure for the better part of the year due to weak demand from the western countries. Demand slowdown in China, battling a major property sector crisis, has also contributed to the slowdown.

Reserve Bank of India, alternative investment funds, AIFs regulatory concerns, RBI norms, AIFs, lenders investing in AIFs, NBFCs, Regulated entities, indian express news

RBI tightens norms for lenders investing in AIFs

December 20, 2023 03:49 IST

. Regulated entities (REs) make investments in units of AIFs as part of their regular investment operations. RBI, however, said that certain transactions of REs involving AIFs raise regulatory concerns.

Red Sea, container shipping company, Maersk, Indian express business, business news, business articles, business news stories

Maersk to re-route vessels via Cape of Good Hope

December 20, 2023 01:00 IST

“For all future vessels planned to sail through the area, a case-by-case assessment will take place to determine whether adjustments need to be made – including diversions via the Cape of Good Hope and further contingency measures,” Maersk said.

Freight rates, Red Sea route, Europe, Africa, Red Sea trade route, Indian express business, business news, business articles, business news stories

Freight rates could surge 25-30% if trouble along Red Sea route continues

December 20, 2023 07:34 IST

The disruption assumes significance as Bab-el-Mandeb Strait, which connects the Mediterranean Sea to the Arabian Sea via the Red Sea and the Suez Canal, is vital for 30 per cent of global container traffic and India relies on the route to trade with parts of West Asia, Africa, and Europe.

rupee

Exchange rate flexibility is a key shock absorber for India: IMFPremium Story

December 20, 2023 13:56 IST

The IMF has reclassified India's "de facto" exchange rate regime to "stabilized arrangement" from "floating" for December 2022 to October 2023 following an article IV review of the country's policies. The rupee has moved between 80.8 and 83.4 range during the period.

world bank

India tops remittance flows at USD 125 billion in 2023: World Bank

December 19, 2023 21:30 IST

On India, the World Bank said the main contributing factors are declining inflation and strong labour markets in high-income source countries, which boosted remittances from highly skilled Indians in the US, the UK, and Singapore.

RBI AIF

RBI tightens norms to check evergreening of loans by lenders through AIFs

December 19, 2023 19:02 IST

Banks and NBFCs, which are Regulated Entities (RE) under the Reserve Bank of India (RBI), make investments in units of AIFs as part of their regular investment operations.

imf, rbi, indian express

IMF reclassifies India’s exchange rate regime to ‘stabilised arrangement’, faces RBI pushback

December 19, 2023 17:30 IST

The IMF reclassification followed the Reserve Bank of India's likely forex interventions where the rupee traded in a "very narrow range, suggesting intervention likely exceeded levels necessary to address disorderly market conditions," IMF said in the report.

rupee falls, stock market, foreign exchange

Rupee falls 9 paise to close at 83.19 against US dollar

December 19, 2023 17:11 IST

Forex traders said that positive sentiment in the stock market, a weak greenback against major currencies overseas and steady crude oil prices restricted losses in the local currency.

icra indian airlines loss

ICRA expects Indian airlines’ FY24 net loss to shrink by up to 82% on healthy traffic, yields

December 19, 2023 17:10 IST

On the risks from elevated jet fuel prices and rupee depreciation, the ratings agency said that both have a “major bearing” on Indian carriers’ cost structure.

Sensex Nifty India stock market

Sensex, Nifty hit new record highs on firm global trends, buying in Reliance

December 19, 2023 17:04 IST

The Nifty climbed 86.4 points or 0.40 per cent to hit its record peak of 21,505.05. It finally closed higher by 34.45 points or 0.16 per cent at 21,453.10

Financially fraught budget airline SpiceJet has expressed interest in acquiring bankrupt carrier Go First to create a viable airline in “a possible combination with Spicejet”, as per a stock exchange filing on Tuesday.

SpiceJet interested in acquiring grounded Go First, plans to bid after due diligence

December 20, 2023 00:46 IST

In a regulatory filing, SpiceJet confirmed that it has expressed interest in acquiring Go First, which is currently undergoing the corporate insolvency resolution process (CIRP) after it decided to voluntarily file for insolvency in early May.

Indian economic growth imf report

IMF sees India’s economy grow at 6.3% in current fiscal year

December 19, 2023 09:58 IST

The country's digital public infrastructure and a strong government infrastructure program will continue to sustain growth, the IMF said.

green energy

On PSU capex push: Oil, highways, rail set the pace; steel, green power trailPremium Story

December 19, 2023 19:57 IST

Large PSUs achieved 66.6% of FY24 capex target till NOVEMBER

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