BUSINESS
Yamuna Expressway Industrial Development Authority cancels allotment of 14 group housing projects due to non-payment of dues
The authority has also forfeited an amount of more than Rs 209 crore of the developers, to whom a total of more than 15.25 lakh sqm of land was allotted. According to the information received, the group housing land allocation of two developers in 2019, three in 2021 and nine in 2022 have been cancelled.
Economic growth in India, China, Indonesia will be less affected: S&P Global Ratings
"We see a significant risk that the Russia-Ukraine military conflict drags on, exacerbating Europe's energy crisis, while at the same time interest rates in developed markets may have to rise even more sharply than in our base case to mitigate broadening inflation pressures," said Jose Perez Gorozpe, S&P Global Ratings Emerging Markets Head of Credit Research.
Subscription amount to GPF in respect of subscriber not to be less than 6% of emoluments
The department has said that the sum of the monthly subscription by a subscriber under the GPF during a financial year together with the amount of arrear subscriptions deposited in that year shall not exceed the threshold limit, which is currently Rs five lakh.
Lufthansa takes 'U-turn,' allows AigTags on flights
The airline on Twitter confirmed that "these devices are allowed on Lufthansa flights". "The German Aviation Authorities (Luftfahrtbundesamt) confirmed today, that they share our risk assessment, that tracking devices with very low battery and transmission power in checked luggage do not pose a safety risk. With that these devices are allowed on Lufthansa flights," the airline tweeted.
IMF urges policymakers to keep tight fiscal stance to help fight inflation
"Governments confront difficult trade-offs amid sharp increases in food and energy prices," Xinhua news agency quoted Vitor Gaspar, director of the IMF's fiscal affairs department, as saying in a statement on Wednesday. Policymakers must protect low-income families from large real income losses and ensure their access to food and energy, the blog noted.
India maintained post-pandemic growth momentum, says Nirmala Sitharaman
Nirmala Sitharaman said this on Wednesday while speaking in the first session of the 4th G20 Finance Ministers and Central Bank Governors meeting in Washington DC on the sidelines of the ongoing IMF-WB annual meetings 2022. She spoke on the global economy, focussing on India's economic development and policy responses, the Finance Ministry tweeted.
India-UK FTA may not meet Diwali deadline over immigration concerns
According to sources, UK's new Home Secretary Suella Braverman recently raised concerns over the deal, saying that she wouldn't support it if it leads to increased immigration from India to the UK. Braverman's comments came close on the heels of UK's new International Trade Secretary Kemi Badernoch also raising concerns over the deal. The UK Prime Minister Boris Johnson had set the Diwali (October 24) deadline for finalising the FTA.
Retail inflation up at 7.41%, IIP down by 0.8%
Price pressure on import of crude oil shall have a cascading impact on other items of the basket too. Additionally, factors such as transmission of input costs and pick-up in consumer demand supported by service sector recovery would further add to inflationary risk in the coming months, Rathi added.
Recession fears mount as UK GDP falls 0.3% in Aug
The 0.3 per cent GDP fall in August was below economists' previous forecast of zero growth, deepening the concerns that the UK economy is sliding into recession, Xinhua news agency reported. "The economy shrank in August with both production and services falling back, and with a small downward revision to July's growth the economy contracted in the last three months as a whole," ONS Chief Economist Grant Fitzner explained.
Wipro posts lower net profit in Q2
According to the company, it had earned revenue of Rs 22,539 crore for the quarter under review up from Rs 19,667 crore earned for the period ended September 30, 2021. Wipro had earned a net profit of Rs 2,659 crore for the period ended September 30, 2022, down from Rs 2,930 crore logged for the quarter ended September 30, 2021.
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