BUSINESS
RBI likely to raise policy rate by 35-50 basis points
In a report Emkay Global Financial Services said: "Clearly, central bankers globally are confronting the classic 'trilemma' of international finance: one cannot have a stable currency, unfettered capital flows, and independent monetary policy all at the same time."
Adani Enterprises achieves financial closure for India's largest greenfield expressway project
"The State Bank of India has underwritten the entire debt requirement of INR 10,238 Crore for the Ganga Expressway Projects (BHRPL, HURPL & UPRPL). With this facility from the SBI, we have moved a step closer to providing our country and the state of UP with another landmark infrastructure," said K.P. Maheshwari.
Centre authorises SBI to issue electoral bonds between Oct 1-10
This would be the 22nd phase of sale of electoral bonds, according to a statement issued by the Union Finance Ministry on Thursday. The government had notified the Electoral Bond Scheme 2018 on January 2, 2018. These can be purchased by a person who is a citizen of India or incorporated or established in India.
Swedish economy will shrink in 2023: Govt agency
The gross domestic product (GDP) per capita is expected to decrease by 0.7 per cent in 2023, the Swedish National Institute of Economic Research (NIER) said in a report. "High inflation and rising mortgage interest rates erode the purchasing power of households, and they have a gloomy view of the future," Xinhua news agency quoted the report as saying.
TRP scam spooks again: ED books 16 for money laundering; 'exonerates' Republic TV
The ED charge sheet was filed on September 26 on behalf of Assistant Director Pawan Kumar before the Special PMLA Court Mumbai, and has sought initiation of proceedings, among others, to confiscate the provisionally attached properties of all the accused as stipulated under the Prevention of Money Laundering Act, as they were bought from the proceeds of the crime.
IMF calls on United Kingdom to 're-evaluate' tax-cutting measures
The IMF said that "it is important that fiscal policy does not work at cross purposes to monetary policy" and called on the UK government to "re-evaluate the tax measures, especially those that benefit high income earners", on November 23, when Chancellor Kwasi Kwarteng is expected to make his next budget announcement.
Indian bonds, equities indicating decoupling that is unsustainable
"We do not expect this to be sustainable and regard it as indicative of a very low margin of safety. A simple valuation mean reversion anchored on bond yields indicates fears of 30 per cent downside in the Nifty," CLSA said. The difference between a 10-year Indian and US GSec yields has fallen to a 13-year low of 3.3ppt.
Indian equities have entered bear markets when US slips into recession
The US interest rate cycle and, thus, the US dollar could continue to be a source of volatility for Indian equities in the coming months due to their negative effect on earnings and BoP. Indian equity return correlations with the rest of the world have risen in recent weeks and could remain elevated for now, it said.
Largest refinery in France shut over strike
"The discontent is so strong in Normandy that the strikers demanded this morning the shutdown procedures of the largest refinery in France," Xinhua news agency quoted Thierry Defresne, General Confederation of Labour (CGT) secretary of the European Enterprise Committee of TotalEnergies, as saying on Wednesday.
IPO fundraising in India drops by 32 per cent
The amount raised is 32 per cent lower than the Rs 51,979 crore raised through 25 IPOs in the corresponding period of 2021-22. Rs 20,557 crore or 58 per cent of the amount was raised just in the IPO of LIC, according to Pranav Haldea, Managing Director, PRIME Database Group. Overall public equity fundraising also dropped by 55 per cent to Rs 41,919 crore from Rs 92,191 crore in the corresponding period of the previous year.
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