BUSINESS
Indian crypto exchange WazirX fires 40% of staff: Report
A total of 50 to 70 employees of the 150 workers at the exchange were asked to go, CoinDesk reported, citing sources. The laid-off employees were informed on Friday that they would be paid for 45 days and that they would no longer be needed to report for work.
Markets need to consolidate after being choppy
BSESENSEX lost on the four days of the weeks into expiry, and had a fantastic day on the first trading day, of the new October futures series. At the end of it all, BSESENSEX lost 672 points or 1.16 per cent to close at 57,426.92 points while NIFTY lost 233 points or 1.34 per cent to close at 17,094.35 points. The broader markets saw BSE100, BSE200 and BSE500 lose 1.42 per cent, 1.58 per cent and 1.51 per cent respectively. BSEMIDCAP lost 1.65 per cent while BSESMALLCAP was down 1.25 per cent.
Rampaging US dollar posts strongest quarter in at least 7 years
In September, a month where the dollar briefly touched its highest level since 2002, the dollar index rose 3.2 per cent, marking its best month since April, when it rose 4.73 per cent. Thanks to its strong gains during the first nine months of the year, the dollar could be on track for its best annual performance since 2014, when the dollar index rose nearly 13 , MarketWatch reported.
Worst is yet to come for global economy: Credit Suisse
"Overall, the economic environment for risk assets is deteriorating. Stagnating global industrial production, persistent cost pressures, and rising financing costs all suggest a prolonged period of low risk appetite," Credit Suisse said.
Prices of essential food items significantly spike
The prices of wheat and atta have gone up considerably in the last few months and as per traders in wholesale markets in the national capital, wheat rates have seen a spike crossing a record Rs 2,560 per quintal due to slower supplies and robust demand.
RBI repo rate hike: Not much of an impact on home loan borrower
"Though the RBI has been increasing the repo rate (RBI's lending rate to the banks) recently, not all the housing finance companies have passed the rate hike to their borrowers. Further the repo rate hikes are not passed on soon after the RBI announces the same," Alok Aggarwal, Managing Director, National Trust Housing Finance Ltd, told IANS.
No fuel at Delhi petrol pumps without PUC certificate from Oct 25
Gopal Rai said that a notification in this regard will also be issued soon. He said that a meeting of officials from environment, transport and traffic departments was convened on September 29 to discuss the implementation and modalities where it was decided to go ahead with the plan from October 25.
'Open court hearing on Oct 12', SC on SEBI's review petition against RIL
A bench headed by Chief Justice U.U. Lalit and comprising Justices J.K. Maheshwari and Hima Kohli said: "Considering the facts and circumstances on record and the submissions advanced in the review petition, we deem it appropriate to allow application for listing of the instant petition in open court. Let this review petition be listed in court on October 12, 2022."
Vedanta-Foxconn semiconductor plant leads India to usher in golden age for electronics
Many countries far-off have to pay a heavy price while some are able to deal in excesses of these chips, acting as middlemen in some cases. However, of late, a number of countries have been actively trying to lure companies into manufacturing the same on their soil to usher in a new era of electronics manufacturing and obtain seamless access to chips overall.
LIC Housing Finance increases lending rate by 50 bps
Commenting on this lending rate revision, MD & CEO Y. Viswanatha Gowd said: "Interest rate hike is in line with the prevailing market condition. We expect this trend to stabilise soon. We are taking care to price our products adequately so that the EMI outgo for our customers remains reasonable.
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