BUSINESS
India's power demand set to double by 2030: R.K. Singh
"Capital investments would also be required for modernising the power systems and promoting new technologies like green hydrogen, storage, offshore wind etc. to help India achieve its energy transition trajectory. To this end, it is absolutely imperative that the DISCOMS across the country follow prudent and sustainable financial practices to ensure that they are viable," R.K. Singh said.
Nirmala Sitharaman meets EU Economy Commissioner, discusses India's G20 presidency
Nirmala Sitharaman and Paolo Gentiloni discussed issues related to global economy and furthering India-EU collaboration during the G20 India Presidency in 2023. Both sides discussed the need to further strengthen multilateral development banks to enable them to help countries in need.
Bumper Diwali spending of Rs 2.5 lakh crore expected
This substantial inflow of money is also expected to liberate the business community from financial crunch. After two years, the festival of lights will be celebrated with no Covid restrictions which has prompted consumers to throng commercial markets in every city of the country for making purchases for Diwali.
UK Chancellor cutting short US visit compared to 1976 sterling crisis
Adding to signs that the government is preparing to announce a U-turn over its plan to scrap a rise in corporation tax, the Chancellor left the US capital a day earlier than planned, The Guardian reported. Treasury sources said the chancellor had two constructive days in Washington but was keen to get back to London to engage with colleagues over his medium-term fiscal plan, due to be announced on October 31.
Infosys too cracks whip but mulling policy to allow moonlighting
Without elaborating on the numbers, Infosys CEO Salil Parikh said that over the last one year, the company has let go its employees found working with other companies. "Where there are confidentiality issues, we have let them go," Parikh said on Thursday at the press conference announcing the Q2 results.
Wholesale inflation falls to 18-month low in Sep to 10.7%
In September 2021, it had stood at 11.80 per cent. According to the data released by the Commerce Ministry, wholesale food inflation fell to 8.08 per cent in September from 9.93 per cent in August. Inflation for manufactured products slid to 6.34 per cent in September from 7.51 per cent in August.
PhonePe enables Online Dispute Resolution (ODR) platform for UPI
UDIR is an automated, single-channel redressal system designed to seamlessly address customer issues and complaints regarding pending transactions and provide speedy dispute resolution online instead of manual file-based processes.
Musk being probed by federal authorities over $44 bn deal, claims Twitter
Twitter also accused Musk's legal team of "failing to produce draft communications with the Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission as part of the two sides' ongoing litigation over whether Musk can walk away from the deal", the report mentioned.
Emerging markets, developing countries being hit by triple blow: IMF chief
"In this environment, we also must support vulnerable emerging markets and developing countries," Georgieva said at a press conference on Thursday during the IMF and World Bank annual meetings. More than a quarter of emerging economies have either defaulted or had bonds trading at distressed levels, and over 60 per cent of low-income countries are in, or at high risk of, debt distress, according to the IMF.
Technological transformation has led to good governance: FM
Speaking on the topic "Technology, Finance and Governance: The Multiplier Effect" at the John Hopkins School of Advanced International Studies in Washington, the Finance Minister said, "Good governance in India is being achieved through technology transformation, especially in the last two years." It has also helped in scaling and integration of micro, small and medium enterprises in India, the Finance Minister said.
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