BUSINESS
Windfall tax increased on jet fuel
Apart from this, the Centre also increased the SAED on the export of aviation turbine fuel (ATF) to Rs 3.50 per litre from nil in the last review. Similarly, the windfall tax on the export of diesel has been increased from Rs 5 per litre to Rs 10.50 per litre. A notification regarding the above changes was issued by the Ministry of Finance on Saturday.
iPhone 14 Plus stumps rivals in bigger screen, longer battery game
With the 6.7-inch display in iPhone 14 Plus, you can see more content like text and images when browsing the web, without having to scroll as much. In messaging apps, you can see more text and larger text, which is great for accessibility and you have more workspace available for editing content in the Photos app.
IMF chief warns of risk of geopolitical fragmentation
"Emerging markets and developing countries have stressed that for them, it is paramount that they have the opportunity to drive growth and employment on the basis of a more integrated global economy," Georgieva said at a press conference during the IMF and World Bank annual meetings in response to a question from Xinhua news agency.
Nirmala Sitharaman flags downside risks to economy at IMF meet
While addressing the Plenary Meeting of the International Monetary and Financial Committee, Sitharaman on Friday also raised the cross-border effects due to the ongoing geopolitical situation, rise in commodity prices and tighter financial conditions.
Nirmala Sitharaman urges World Bank to remain steadfast on principles of common responsibilities
Nirmala Sitharaman made the remarks on Friday during a meeting of the Development Committee of the World Bank-IMF, in Washington D.C. Sitharaman also stated that despite this year's projected growth rate of 7 per cent for the Indian economy, "we remain concerned about the global economic outlook and geopolitical environment", according to the Union Finance Ministry.
India's exports rose to $61 billion in September
These were 10.2 per cent higher than the corresponding period of last year. Imports in September 2022 were estimated to be $76.26 billion, exhibiting a positive growth of 10.73 per cent over September 2021. Trade deficit, however, widened to $148.46 billion in September 2022 against $76.25 billion in September 2021, the data revealed.
Lebanese pound sinks to new low at 40,000 against US Dollar
Mounir Younes, an economist and former editor-in-chief of Al Qabas newspaper in Kuwait, attributed the further collapse of the Lebanese pound to the delay in the implementation of necessary reforms that would pave the way for an agreement with the International Monetary Fund. "Also, the obligatory reserves at the Central Bank of Lebanon continue to be depleted, which creates a negative sentiment," Younes said.
India to produce 25% of its oil demand by 2030: Hardeep Puri
At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three per cent, which is higher than the global average of nearly one per cent, Puri added. The Union Minister shared this with media at the three-day South Asian Geoscience Conference, GeoIndia 2022, which began at JECC, Sitapura in Rajasthan's Jaipur on Friday.
Securities and Appellate Tribunal sets aside SEBI insider trading order against Atul Kirloskar, Rahul Kirloskar and Nihal Kulkarni
In a statement issued on Friday, Atul Kirloskar, Rahul Kirloskar & Nihal Kulkarni said, "We are delighted to share that the Hon'ble Securities Appellate Tribunal vide its order dated October 12, 2022, has set aside the insider trading order dated October 20, 2020 passed against us by SEBI on the grounds that there was no unpublished price sensitive information (UPSI) and consequently there was no insider trading by us when we had sold shares of Kirloskar Brothers Limited to Kirloskar Industries Limited in 2010."
Adani Agri Logistics secures LoA from FCI for silo complexes
Based on the LoA, AALL will develop and operate state-of-the-art silo complexes at four locations -- Kanpur, Gonda and Sandila in Uttar Pradesh and Katihar in Bihar, in line with the government of India's objective of modernising India's storage infrastructure, creating a total silo storage capacity of 3.5 lakh MT.
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