BUSINESS
Pakistan's economy still in ICU with forex level at record low
Ishaq Dar, Finance Minister of the country, who replaced Miftah Ismail a month ago has had little impact on the situation. Local newspaper Dawn in its report said that forex reserves held by the country's central bank were close to nil. Of the total amount, $2.3 billion has been credited by China, $3 billion was deposited by Saudi Arabia and $1.2 billion came from the International Monetary Fund (IMF).
Iran signs gas contracts worth $6.5bn with Russia
The newly signed deals are parts of the memorandum of understanding (MoU) valued at $40 billion signed between the National Iranian Oil Company (NIOC) and Russia's Gazprom in July, that have recently turned into contracts, Xinhua news agency quoted Deputy Foreign Minister for Economic Diplomacy Mehdi Safari as saying on Monday.
Q3 2022 gold demand shines in India
According to the WGC, the gold demand in India was at 191.7 ton (value Rs 85,010 crore) during Q3 2022 as against 168 ton (Rs 71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year.
Eurozone inflation hits 10.7% in October
Driven mainly by increasing energy prices, October's year-on-year inflation rate is expected to climb to 10.7 per cent in the eurozone, from 9.9 per cent in September, Xinhua news agency reported citing the estimate released on Monday as saying.
RBI to launch digital rupee pilot project today
The central bank further informed that "the first pilot in Digital Rupee - Retail segment (ea,-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants. The details regarding operationalisation of ea,-R pilot shall be communicated in due course".
Elon Musk is Twitter CEO as company braces for deeper layoffs
Musk earlier tweeted that he has "no idea" who the CEO of Twitter is, the latest US Securities and Exchange Commission (SEC) has revealed that Musk is now the sole "reporting Person" at Twitter. The "Reporting Person" is the Chief Executive Officer of the post-merger Company.
RBI imposes Rs 5 lakh penalty on LIC Housing Finance
"This penalty has been imposed in exercise of powers vested in the RBI under the provisions of clause (b) of sub-section (1) of section 52A read with clause (aa) of sub-section (3) of section 49 of the National Housing Bank Act, 1987 (NHB Act)," a statement issued by the RBI said.
'US market impact for Sensex to cross 60K'
"The ongoing rally which has taken the Sensex above 60,000 has been triggered mainly by the rally in the mother market US where the Dow has recorded four straight weeks of gains," Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Software-as-a-Service firm Icertis raises $150 million to boost contract lifecycle management biz
Icertis said that the funds will enable it to further extend the company's leadership position in the Contract Lifecycle Management (CLM) category by accelerating the application of transformational technologies like artificial intelligence, machine learning, and Blockchain to deliver material, unique, and consequential value to customers.
Government's receipts totalled Rs 12,03,748 crore till September
According to official data, non-debt capital receipts consists of recovery of loans of Rs 9,597 crore and miscellaneous capital receipts of Rs 24,590 crore. An amount of Rs 3,76,106 crore has been transferred to state governments by the Centre till September 2022. In addition to this, devolution of share of taxes by the government upto September was Rs 1,15,960 crore, which is higher than the previous year.
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