LARGIE

The sensex rallied 1,017 points on Friday to close at 57,427 points after the RBI raised interest rate by 50 basis points (100bps = 1 percentage point), which was on expected lines. The sensex had closed in the red in the previous seven sessions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3TmHrPk via IFTTT

Commerce and industry minister Piyush Goyal on Friday said the government is working on a "holistic decriminalisation law" during the winter session of Parliament to make life easier for businesses. "Decriminalising sections of various laws will end the harassment faced by businesses and reduce compliance burden," he said at the annual session of PHD Chamber of Commerce and Industry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eEXs7yz via IFTTT

The Reserve Bank of India will stop conducting 28-day variable rate reverse repo (VRRR) auctions, considering the current banking system liquidity conditions, but will continue with 14-day VRRR auctions, the central bank chief said on Friday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/S7j0TH5 via IFTTT

The iPhone maker dropped 4.9% after Bank of America cut its rating to neutral from buy, warning of weaker consumer demand for its popular devices. The selloff erased roughly $120 billion from Apple’s market capitalization. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5SwiObI via IFTTT

India has entered the top 40 economies in the 2022 global innovation index, jumping 6 places from last year and bagging the top position among 36 lower middle-income group economies. It also topped the list of 10 economies in central and South Asia. Switzerland, US, Sweden & the Netherlands are the most innovative economies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ha1J4fR via IFTTT

Zomato's revenue rose 123% to Rs 4,109 crore in the 2021-22 financial year. The company's loss widened by 24% to Rs 1,098 crore. The company in its annual report said its average monthly transacting customer base grew by 116% in the year. The online food delivery platform went public last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KABa5wi via IFTTT

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Reliance Industries' retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SaUFsGX via IFTTT

The Reserve Bank of India’s six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xyCtefg via IFTTT

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The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA-owned Zara, and cater to millenials and Gen Z. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dyBARLt via IFTTT

Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier, according to three sources familiar with the matter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iw3XGlq via IFTTT

The average age of a refrigerator consumer is estimated to be 34-35 years, according to industry sources. This was 38-40 years about eight years ago in 2013-14. What’s also gone up are repeat purchases of refrigerators, which is the second-most penetrated household appliance after the television. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zUxonv6 via IFTTT

In its final year of operation, online retailer Cloudtail India's revenue rose 15% to Rs 19,090 crore. Net loss in FY22 was Rs 522 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/q3JnCr1 via IFTTT

Continuing to weaken against the dollar, the rupee closed at a new life low of 81.94 against the US currency after nearing the 82-level in intraday trades on Wednesday. The rupee had closed at 81.58 Tuesday. Sensex dipped for the sixth straight session, closing 509 points down at 56,598 as foreign funds continued to sell. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hKqO9B6 via IFTTT

The Reserve Bank of India has been selling dollars as it seeks to looks to manage the volatility and the pace of the rupee's fall, traders have said. Estimates of how much the RBI has sold recently range from $1.0-$1.8 billion per day. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fn8aQbD via IFTTT

The collection in April was at a record high of Rs 1.68 lakh crore. In May, GST revenue was Rs 1.41 lakh crore, in June Rs 1.44 lakh crore, Rs 1.49 lakh crore (July) and Rs 1.43 lakh crore (August). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zDUmJeR via IFTTT

An FIR was registered in the case in May 2018, amid fresh revelations about irregularities at the country's largest stock exchange. The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/abD9Kc0 via IFTTT

US business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple users via the iPhone maker's Apple News service. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yJagZET via IFTTT

​​​​Exports, which had registered double-digit rise for several months, have been flat over the last two months, amid fears that high inflation and rising interest rates will affect consumption as well as economic activity, with several developed countries feared to be slipping into recession in the coming months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Gcx46TI via IFTTT

The total number of credit cards declined by 22.6 lakh on a net basis in August this year to 7.8 crore from over 8 crore in the previous month due to a change in the RBI's regulation that required lenders to deactivate cards that have not been in use for a year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NjBnaMr via IFTTT

Economists have said the Reserve Bank of India (RBI) is likely to take measures to increase the supply of dollars to restore market confidence amid the expectation of a package to prop up the rupee. The central bank could also open a separate window to sell dollars directly to oil companies to take a significant demand for the greenback out of the market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yftnuBw via IFTTT

Uco Bank and Yes Bank have put in place arrangements with two Russian counterparts as India seeks to step up trade with the sanctioned nation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/96QMKcH via IFTTT

autam Adani said China will feel increasingly isolated as rising nationalism, shifts in supply chains and technology curbs threaten the world’s second-biggest economy. China’s Belt and Road Initiative has run into resistance in many countries, challenging Beijing’s global ambitions, the world’s third-richest man told a conference in Singapore on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6DFXSfZ via IFTTT

The ports-to-energy conglomerate will add 45 gigawatts of hybrid renewable power generation capacity and build 3 giga factories to manufacture solar panels, wind turbines and hydrogen electrolyser. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wd7bRcV via IFTTT

Deepening economic relationships among members of the Quad to increase technological and energy security amid China's growing influence in the Asia-Pacific region could have long-term credit implications resulting from supply-chain and trade reconfigurations, according to a new report by Moody's Investors Service. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VBHcr1v via IFTTT

There have been major board-level changes at Infrastructure Leasing and Financial Services (IL&FS) with G C Chaturvedi stepping down from the board from the board and Nand Kishore being appointed MD. C S Rajan, the former CMD, will now be the non-executive chairman. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BexmZLM via IFTTT

Eve Air Mobility (EAM), founded by Brazilian aerospace major Embraer, has tied up with Gurugram-based Fly Blade India to bring its electric vertical take-off and landing vehicle (eVTOLs) or air taxis to the country within the next five years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/N0xyBqI via IFTTT

The Nifty followed a similar trajectory as the sensex and closed 311 points lower at 17,016. RIL, ICICI Bank and ITC led the day's slide while buying in IT stocks, which witnessed relentless selling in the previous few weeks, cushioned the fall marginally. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uCSExtZ via IFTTT

The rupee depreciated 43 paise to an all-time low of 81.52 against the US dollar in early trade on Monday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i5kzmED via IFTTT

India is set to manufacture Apple’s flagship iPhone 14 smartphones with the company confirming that the devices would be made at contract-manufacturer Foxconn’s factory in Sriperumbudur, Tamil Nadu. This would perhaps be the quickest scale-up that Apple has initiated in its India manufacturing setup with the latest iPhone being made here within weeks of its global unveiling on September 7. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ILxmHFz via IFTTT

American aerospace major Boeing will soon move about 150 IT and finance jobs from its home country to India. To be sure, the company is not cutting jobs anywhere and says it has 10,000 positions this year.​ from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kt4SK7I via IFTTT

India is set to manufacture Apple’s flagship iPhone 14 smartphones with the company confirming that the devices would be made in India at contract-manufacturer Foxconn’s factory in Sriperumbudur, Tamil Nadu. This would perhaps be the quickest scale-up that Apple has initiated in its India manufacturing setup with the latest iPhone being made here within weeks of its global unveiling on September 7. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rnOuqtk via IFTTT

India is set to manufacture Apple’s flagship iPhone 14 smartphones with the company confirming that the devices would be made in India at contract-manufacturer Foxconn’s factory in Sriperumbudur, Tamil Nadu. This would perhaps be the quickest scale-up that Apple has initiated in its India manufacturing setup with the latest iPhone being made here within weeks of its global unveiling on September 7. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dN2xM0S via IFTTT

Within days of releasing the draft telecom bill for public comments, the government has received feedback that penal provisions for violation of norms on privacy of users need to be tightened further. These are expected to be incorporated when the final legislation is drafted. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zTF7uP8 via IFTTT

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The rupee breached the 81 level against the dollar for the first time on Friday as markets turned jittery after the Fed's rate hike and escalation of hostilities in Ukraine. The RBI continued to defend the rupee even as reserves dipped to $546 billion, down by $5 billion during the week ended September 16, and $97 billion lower from their peak levels of $642 billion last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZTiaWt9 via IFTTT

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The days when employees signed up with big tech majors and spent their lives on the job are long gone, minister of state for Electronics and IT and Skill Development, Rajeev Chandrasekhar said on Friday, weighing in on the issue of moonlighting. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/k4OqsVa via IFTTT

Economists are unanimous in forecasting that the central bank has no other option but to deliver a 50 bps rate hike next week and take the terminal rate to 6.25 per cent by December. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/u9HjrwQ via IFTTT

Banking system liquidity slipped into deficit for the first time in nearly 40 months earlier this week, prompting the Reserve Bank of India to infuse funds into the system. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7aDSfht via IFTTT

There was a wide consensus that the RBI will raise rates at the Sept. 30 meeting, although there were differences over how far it would go with inflation accelerating to 7% and with the rupee weakening. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UXKRziP via IFTTT

The company has informed customers that the digital health services offered by Tata Health will be available through Tata 1MG (which is run by sister concern Tata Digital) from October 1. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cHT9qhx via IFTTT

Speaking at the Global Fintech Fest in Mumbai, RBI chief general manager P Vasudevan said that often companies ask complainants to privately provide details when they complain on soci-al media, but there is no indication on whether it has been resolved or not. He said that the first recourse for grievance redressal should always be the provider and not the RBI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/scwLoBR via IFTTT

All eyes are on the RBI’s rate action next week after central banks from Manila to Oslo announced hikes on Thursday. The recent hikes came hours after the US Federal Reserve again raised rates by 75 basis points. Various agencies have forecast a 35-50bps increase as inflation, after moderating in July, has again shot up to 7% in August. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/urbRmYJ via IFTTT

The Supreme Court on Thursday awarded a six-month jail term to former promoters of Fortis Healthcare, Malvinder Singh and Shivinder Singh. The case relates to the sale of shares of Fortis to Malaysia-based IHH Healthcare. The top court also ordered a forensic audit of the share sale in Fortis Healthcare. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/60vbIg9 via IFTTT

Domestic rice prices are showing an upward trend and it "may continue to increase" due to low kharif production forecast and 11 per cent jump in export of non-basmati rice, the food ministry said on Thursday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4fDKRM6 via IFTTT

​​​The diverging moves suggest that high debt poses risks to Adani’s success story that saw his net worth, as measured by the Bloomberg Billionaires Index, shoot up to trail only Elon Musk’s. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AL2Bmq9 via IFTTT

The government is not averse to a weaker rupee in line with global market fundamentals, a senior official told Reuters, at a time when the central bank's intervention has tried to moderate the depreciation in the currency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0R8ijKI via IFTTT