India’s wholesale price inflation (WPI) climbed to 1.84% in September, driven primarily by rising prices of food articles and select manufacturing sectors, according to government data released on Monday. The inflation rate in September marked an increase from 1.31% in August and 2.04% in July. The month-over-month change in the WPI index was a modest […]
The increasing use of artificial intelligence (AI) and machine learning (ML) in the global financial sector could pose significant risks to financial stability if not properly managed, according to Shaktikanta Das, the Governor of the Reserve Bank of India (RBI). Speaking at an event in New Delhi on Monday, Das emphasized the need for banks […]
India’s ship recycling industry is poised for substantial expansion, with an expected compound annual growth rate (CAGR) of 10% by 2028, positioning it as a key player in the global market. According to a report by CareEdge Ratings, India accounted for 33% of the global gross tonnage (GT) dismantled in 2023, placing it second only […]
The World Bank has revised Bangladesh’s economic growth projection for the fiscal year 2024-25, lowering it to 4%, down from an earlier estimate of 5.2%. This adjustment comes in response to the political unrest that has shaken the country, creating significant economic and political uncertainty. In its South Asia Development Update for October 2024, the […]
Indian e-commerce platforms recorded sales exceeding Rs 54,500 crore in the first week of the festive season, making up approximately 55% of the total sales projected for the upcoming month. According to data from Datum Intelligence, a consumer technology market research firm, this marks a 26% increase in sales compared to the same period in […]
Noel Naval Tata, the newly-appointed Chairman of Tata Trusts, on Friday said he looks forward to carrying on the legacy of Ratan Naval Tata and the founders of the Tata Group. Earlier, the Tata Trusts board met at a joint meeting held in Mumbai and took the unanimous decision to appoint Noel Tata, the half-brother […]
Ratan Naval Tata, the iconic Chairman Emeritus of Tata Sons and a towering figure in Indian business, has passed away at the age of 86. Tata died earlier today at Mumbai’s Breach Candy Hospital after battling age-related health issues. Tata’s hospitalization on Monday had prompted widespread speculation about his health. Although he issued a statement […]
Indian stock markets opened higher on Wednesday, with gains led by the information technology and pharmaceutical sectors as investors anticipated the Reserve Bank of India’s (RBI) monetary policy decision, expecting the central bank to hold interest rates steady. As of 9:44 a.m. IST, the Nifty 50 index rose by 0.25% to 25,073 points, while the […]
In a pivotal move, the Reserve Bank of India (RBI) has kept its benchmark interest rates unchanged at 6.5%, but shifted its policy stance to neutral, signaling a potential rate cut in December. The announcement came after a three-day monetary policy committee (MPC) meeting that concluded today. Five out of the six members of the […]
Ride-hailing giants Ola and Uber, along with logistics company Porter, offer poor working conditions for gig workers, according to a report released on Tuesday. The report by Bengaluru-based Fairwork India highlights the concerning labor standards within India’s platform economy, stressing the urgent need for improvements in the working conditions of gig workers. The report reveals […]
The Securities and Exchange Board of India (SEBI) has given its nod for the initial public offering (IPO) of the National Securities Depository Ltd (NSDL), India’s largest depository. This approval marks a significant milestone for the country’s financial market infrastructure. SEBI issued an observation on September 30, indicating a green light for the IPO. In […]
Insurance sector has doubled its revenues in fiscal 2023-24 reaching Rs 100.28 crore, compared to Rs 48.74 crore in FY22-23, reports said. Founded in 2016 by Ankit Agrawal and Ish Babbar, Gurugram-based insurtech platform Insurance Dekho that compares and offers data on various types of insurance purchases, including motor, health, life, travel, and pet insurance, […]
BENGALURU, Oct 5, 2024: In a relatively quiet week for Indian startups, 21 companies raised nearly $93 million across 16 deals, signaling a significant drop compared to the $461 million raised by 29 startups just a week prior. This week’s tally included four growth-stage deals and 12 early-stage fundings. Agriculture supply chain startup Waycool secured […]
As the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meets from October 7-9, experts are predicting that the central bank will maintain the current policy rates. The decision is expected to be influenced by persistent inflationary pressures and uncertainties in the global economic landscape. While the U.S. Federal Reserve has recently cut rates, […]
In a calculated move to enhance logistics operations, Amazon and the Department of Posts signed a Memorandum of Understanding (MoU) on Friday. This partnership will leverage India’s vast postal network, comprising over 1.6 lakh post offices, to facilitate faster parcel delivery across the country, including remote regions. The collaboration aims to optimize logistics and business […]
The United States is currently in the throes of the largest dockworker strike in nearly half a century. The International Longshoremen’s Association (ILA), representing 45,000 port workers from Maine to Texas, has initiated a significant stoppage. The first of its magnitude since 1977, the strike has resulted in long lines of container ships queuing up […]
Wall Street’s main indexes opened lower on Wednesday after escalation in geopolitical tensions in the Middle East though markets are likely not to come under sway. Here’s the impact visible so far and the possible future scenarios: Israeli Retaliation: Iran’s missile strike on Israel, involving 180 ballistic missiles, significantly raises the chances of an Israeli […]
Iran’s overnight ballistic missile strike on Israel has sent shockwaves through global markets on expected lines with a significant shift in investor behavior rushing for safer assets. Besides a decline in U.S. Treasury bond yields and a surge in gold prices, the safe-haven dollar has strengthened against the euro, trading close to its strongest in […]
The Reserve Bank of India (RBI) has recently raised concerns over deficiencies in gold-lending practices, urging gold lenders to review their policies and practices and implement corrective measures within a three-month timeframe. This directive comes in the wake of a review conducted by the RBI, which revealed several irregularities in the gold loan sector. Gold […]
In its latest report, the World Bank anticipates India to maintain its status as the world’s fastest-growing economy, fueled by robust domestic demand, increased investment, and a thriving services sector. The forecast predicts a steady growth trajectory, with India expected to achieve a GDP growth rate of 6.7% over the next three fiscal years. The […]