BUSINESS
Bond yields fall over 18 bps because of cooling inflation, easing oil prices
The yield on 10-year benchmark 6.54 per cent-2032 bond yield, which was trading at 7.32 per cent in the last month, has eased to 7.13 per cent this month. "Besides crude oil prices easing out, there is an expectation of Indian Bond Index inclusion very soon. This news has created a positive vibe amongst investor and trading segment as the market is now expecting over $30 billion inflow in debt securities
Hardly a corrective: Caps on outbound shipments will only lead to drop in exports
A cautious government, mindful of the looming threat that current account deficit may reach 3 per cent of the GDP, had recently taken some measures through the Reserve Bank of India (RBI) to bring it down. Experts, however, feel that unless exports don't rise and import dependency does not come down, the Indian rupee's depreciation will continue and inflation will shoot up.
RBI using forex reserves 'sensibly' to defend rupee, lower outflow in festive season
"The erosion in the forex reserves amid the central bank's filling the gap between dollar demand-supply. The RBI has very well managed the inflows and outflows in the last couple of years," said Dilip Parmar, Research Analyst, HDFC Securities. According to the data compiled from the RBI's website, the central bank, since the start of this calendar year, has spent $94.752 billion till date to defend rupee from a free fall.
MSMEs can contribute big to India's GDP, say experts
Addressing a conclave on "Fin-Tech and Credit Expo 2022 - Connecting Finance to Business", Riddhi Gupta, Head of Strategy and Alliances, Invoicemart, said that MSMEs have a significant role at the centre of the vibrant Indian economic landscape. "There is a lot of opportunity to ensure that MSMEs grow into an even more powerful engine. Contribution of MSMEs to GDP is still lower than that in countries like the US or China," she said.
India stays out of trade talks at IPEF ministerial meet
Trade is one of the four pillars of this trade arrangement that was launched by US President Joe Biden in May 2022, joined by Prime Minister Narendra Modi among other leaders of the member countries. The other three are Supply Chain, Clean Economy, and Fair Economy. India was led by Union Commerce Minister Piyush Goyal at the talks.
Amazon acquires Cloostermans to bolster its robotics operations
With the acquisition of Cloostermans, Amazon said it will continue to invest in customized state-of-the-art technology to drive innovation in its workplace and improve the employee experience. Cloostermans developed technology that is being used in Amazon operations to help move and stack heavy palettes and totes or package products together for customer delivery.
Direct tax collections up 35.46% in FY23 to Rs 6.48L Crore till Sep 8
In the year-ago period, direct tax collections stood at Rs 5.29 lakh crore, which was 30.17 per cent higher than the net collections for the corresponding period of the previous year. The present collections are 37.24 per cent of the total budget estimates for 2022-23, an official statement by the Finance Ministry said.
Invested $3.71 billion in Cloud infra, jobs in India since 2016: AWS
Max Peterson, Vice President, Worldwide Public Sector, AWS, told IANS that the company is bullish on the country's digital vision and will help it become a $5 trillion economy by 2030. "Following the launch of the AWS Asia Pacific (Mumbai) Region in 2016, AWS has invested $3.71 billion in local infrastructure and jobs across India," said Peterson.
Tata in talks to build iPhones for Apple in India: Report
According to the report, the discussions with Wistron are aimed at making Tata a force in technology manufacturing and the Group wants to tap the Taiwanese company's expertise in product development, supply chain, and assembly. Meanwhile, earlier this month, industry analyst Ming-Chi Kuo claimed that the next iPhone 15 is likely to be manufactured at the same time in India and China next year.
Indian firms must adopt new payment security standard in 5G era
Despite the Payment Card Industry Data Security Standard (PCI DSS) compliance improving significantly in 2020, the cybersecurity threats organisations face are more cunning and evasive than they were even two years ago, according to the 2022 Verizon Payment Security Report (2022 PSR).
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