BUSINESS
WeWork Files for Bankruptcy In US And Canada, India Operations Not Affected
WeWork, along with some of its associated entities, sought protection under Chapter 11 of the US Bankruptcy Code, signalling the gravity of its financial troubles. Notably, this filing pertains solely to WeWork's operations in the US and Canada, sparing its locations outside of these regions from this process.
RBI fixes interest for Govt floating rate bond at 7.14%
The rate of interest on FRB 2024 is reset at the average rate (rounded off to two decimal places) of the implicit yields at the cut-off prices of the last three auctions of Government of India 182-days Treasury Bills held up to the period preceding the coupon reset date, which is November 7, 2023.
Fitch Upgrades India's GDP Growth Outlook, Downgrades China's
Fitch has also lowered its estimate for the growth of 10 emerging economies to 4 percent from the earlier estimate of 4.3 percent. These adjustments in growth forecasts reflect changing economic conditions and outlooks in the respective countries.
Nifty Records the Most Significant Month-on-Month Decline in 2023 during October
Several factors contributed to this volatility, including the Israel-Palestine conflict and sharp FII outflows in the last two months, although these outflows were offset by stronger DII inflows.
Samsung Family Selling $2 Billion in Shares to Settle Inheritance Tax Obligations
This move is part of a five-year plan initiated following the death of late Samsung Chairman Lee Kun-hee in October 2020, with the family paying inheritance taxes in installments.
Buy on dips strategy has worked well for investors
Buy on dips strategy has worked well for investors with risk-appetite. The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict, he said.
India Poised to Become the World's Third-Largest Economy by 2027 with a Nominal GDP of $5 Trillion
In terms of nominal GDP growth, the report anticipates a significant acceleration, reaching 12.4% year-on-year in fiscal year 2025, outperforming China, the US, and the Euro Area.
DRI Conducts Searches at Havells India Office
Havells India confirmed that the search operation was carried out by the DRI, an agency responsible for curbing smuggling and investigating cases of commercial fraud.
Government Attributes Controlled Headline Inflation to LPG Price Reduction and Vegetable Price Adjustment
The report highlights that headline inflation has returned to a controlled state, driven by corrections in vegetable prices and recent reductions in LPG (liquefied petroleum gas) prices.
Government Authorizes SBI to Issue and Redeem Electoral Bonds from November 6 to 20
Electoral bonds deposited by eligible political parties in their accounts will be credited on the same day.
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