BUSINESS
Smaller rate hikes likely coming in December: US Fed chairman
"The time for moderating the pace of rate increases may come as soon as the December meeting," CNN quoted Powell as saying at the Hutchins Center on Fiscal and Monetary Policy, his last public appearance before the central bank enters a blackout period ahead of its December 13-14 policymaking meeting.
Basic structure of insurance laws to be altered with proposed amendments: Experts
Scrapping of the statutory Rs 100 crore startup capital for life and general insurance business and Rs 200 crore for reinsurance business, allowing different kinds of insurers including captives, changing the investment provisions are some of the major amendments proposed by the Indian government to the insurance laws.
India-Australia trade pact to come into force from Dec 29
With this agreement, the total bilateral trade is expected to cross $45-50 billon in five years from existing $31 billon. Both the countries are complementarities in its trade opportunities. Hence it will help in resilient supply chain wherein cheaper raw materials and intermediate products from Australia will be made available to make the finished product competitive, official sources said.
Indian markets scale new heights
The Sensex opened at 63,357.99 points reached a high of 63,583.07 points and a low of 63,357.99 points. On Wednesday, the Sensex had closed at 63,099.65 points. At the NSE, the Nifty opened at 18,871.95, touched a high of 18,874.30 points and a low of 18,842.05 points. It had closed at 18,758.35 points on Wednesday.
IndiGo in collaboration with DGCA launch 'Digital e-logbook' for pilots
Owing to this automated process, the flying hours entered in eGCA e-logbook will have consistency of data and format for all the stakeholders, which will increase safety and efficiency in operations. This will also offer real time availability of flying hours data for pilots in compliance with rule 67A of Aircraft rules, and enable data accuracy and timely submission of issuance, renewals, and endorsement of licenses by removal of multilayer data validation.
Sept quarter GDP numbers in line with expectations, says Chief Economic Advisor
Commenting on price rise, the CEA said that retail inflation may have peaked and is likely to ease in the coming months. "Real GDP growth at 6.3 per cent in the second quarter of the current fiscal is in line with expectations. The Indian economy has continued on the recovery path from the pandemic. It is growing despite global monetary tightening," Nageswaran said.
Index of eight core industries rise by 0.1% in October
The production of fertilisers, steel, coal and electricity generation increased in October 2022 over the corresponding month of last year, according to a data released by the Commerce ministry said. Fertilisers production increased by 5.4 per cent in October, 2022 over October, 2021.
Reliance Capital COC rejects all bids, decides liquidation
The COC is now considering sending Reliance Capital to liquidation, under the newly introduced regulation 6(A) of the IBC, whereby each individual business can be sold separately. According to sources, the decision to reject the bids had been taken as the lenders are of the opinion that the bid value offered by all the bidders is too low.
States' outstanding dues towards discoms fall to Rs 1,13,269 cr
Official sources said that the dues of states towards generation and transmission companies have come down with timely payment of just four EMIs. For payment of EMI of Rs 24,680 crore, five states have taken loan of Rs 16,812 crore from PFC and REC and eight states have opted to make their own arrangement, sources said.
GDP growth halved to 6.3% in September quarter of current fiscal
The GDP had expanded by 8.4 per cent in September quarter of 2021-22, according to data released by the National Statistical Office (NSO). The Reserve Bank of India bulletin had projected that GDP growth would be estimated at 6.1 to 6.3 per cent in the September quarter of the current fiscal.
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