BUSINESS
JPMorgan analyst sees oil price surge as high as $150
Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle—and of course, efforts to push the world further away from fossil fuels.
US govt's interest payments on debt breaches 'unsustainable levels' crossing federal spending
Interest payments will be the single largest federal expenditure, topping Social Security by 2051, a projection shows. US debt breached an all-time high of $33 trillion as federal deficit ballooned amid a swath of Treasury bills, budget experts warned.
I-T Dept urges taxpayers with previous arrears to have them adjusted in refund claims
In a statement issued on Saturday, the I-T Department said it “is making every effort to complete the processing of Income Tax Returns (ITRs) and issuance of refunds expeditiously".
Pakistan's weekly inflation surges 38.66%
The Sensitive Price Indicator-based inflation increased by 0.93 per cent for the week ending on September 21 as compared to the previous week, the PBS data revealed.
Pakistan's economy on edge of precipice, warns World Bank
"This may be Pakistan's moment in making policy shifts," said Najy Benhassine, Country Director for the World Bank in Pakistan, at a news briefing while releasing a set of policy notes for debate and discussions for finalisation before the new elected government comes in, Dawn reported.
India is the most expensive stock market in the world
FPI selling which started early this month continued in the week ended September 22. This month, in the 15 trading days, so far, FIIs were sellers in eleven days.
Teen-focused neo-banking platform Akudo to shut down operations
According to Entrackr, citing sources, the decision comes in response to a Reserve Bank of India (RBI) directive that prohibited the use of the Unified Payments Interface (UPI) in a co-branding arrangement.
Funds raised through equity shoot up 42.7% in August
Equity issuance raised Rs 15,698 crore in August 2023 up from Rs 11,000 crore in July 2023, while debt issuance raised Rs 48,836 crore down from Rs 54,269 crore a month ago, according to the Securities and Exchange Board of India Bulletin released on Friday.
Malaysia’s Petronas poised to clinch $1.6 bn deal for stake in India’s AM Green
Petronas is in an advanced state of negotiations that value AM Green at $6 billion, the report said citing people in the know of thngs.
Must ensure rupee remains competitive after inclusion in bond index, says Chief Economic Adviser
However at the same time, he cautioned that the main challenge would be to ensure that the rupee remains competitive, as there is a natural tendency for the Indian currency to appreciate.
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