BUSINESS
Sitharaman calls for collective action for shared problems of IMF financial committee's member nations
Sitharaman, who attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC) in Marrakech, Morocco to discuss the priorities identified in IMF MD’s Global Policy Agenda, said this during her intervention.
Creditable! Buoyed by positivity on GDP, banks expect steady credit growth
The Reserve Bank of India (RBI) has projected India’s Gross Domestic Product (GDP) to grow at 6.5 per cent in Financial Year (FY) 24.
China’s chip imports drop 15% as US tightens tech export controls
China imported 355.9 billion units of integrated circuits (ICs) from January to September, down from 416.7 billion in the same period last year, according to data published by the General Administration of Customs, reports South China Morning Post. The total value of IC imports fell 19.8 per cent to $252.9 billion.
Casino chain Delta Corp gets another Rs 6,385 crore GST notice
"The GST notice advises Deltatech Gaming Limited to pay the alleged tax shortfall along with interest and penalty failing which a show cause notice will be issued to the Company under Section 74(1) of the CGST Act, 2017," the company said in a filing with the stock exchange.
Sitharaman expresses concern over global economic slowdown, seeks reforms in IMF policy
She pointed out at the escalating global debt vulnerabilities and the importance of Global Sovereign Debt Roundtable to foster cooperation on debt issues and reforms in IMF policy to engage with members in debt distress. She said this while attending the Restricted Breakfast Meeting of the IMF Board of Governors on the theme of “Dialogue on Policy Challenges” in Marrakech, Morocco.
Tata Motors to rake in Rs 1,613.7 crore by selling 9.9% stake to TPG Rise, Ratan Tata Endowment
It also said it will sell 0.9 per cent stake in Tata Technologies to Ratan Tata Endowment Foundation for Rs 146.7 crore. In sum, Tata Motors will be raking in Rs.1,613.7 crore from these two transactions with its subsidiary Rs 4,414.18 crore turnover Tata Technologies' equity valued at Rs.16,300 crore.
RBI slaps fines on Union Bank of India, RBL Bank for breach of rules
The RBI has imposed a Rs 1 crore penalty on the Union Bank of India as it did not comply with certain directions and sanctioned a term loan to a corporation in lieu of or to substitute budgetary resources envisaged for certain projects, without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations, the statement explained.
US stocks up after a 52-week hammering from Treasury Bonds
Philadelphia Fed President Patrick Harker made dovish comments, signalling that the Fed is done hiking rates. The stock markets, such as the NYSE and NASDAQ were in bearish trends for some time as they feared further interest rate hikes intervention by the Federal Reserve to rein in inflation which had returned at 3.7 per cent in September.
US economy perched on dangerous edge as workers & employers in vital industry defy oblivious trend
The path forward for the US economy seems more uncertain than it has in some time, economists predict. Rising interest rates, stubborn inflation and international strife are weighing down the economy while strong employment numbers and a rising stock market counterbalance that effect, they said.
India’s forex kitty falls for 5th week in a row
The $2.17 billion decline from the previous week came on top of a close to $12 billion drop in the preceding four weeks.
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