Department Financial News

Department of Telecom to consider its recommendations made last year on spectrum auctions to plan the sale of radiowaves, a senior government official said on Wednesday. DoT Joint Wireless Advisor Gulab Chand, during a panel discussion at the India Spectrum Management Conference, said the government is trying its best to hold spectrum auctions by the end of current fiscal or early next fiscal.

By Timothy Gardner

Jimmy Zhong – the $3 billion Bitcoin (BTC) thief behind the Silk Road marketplace hack in 2012 – was ironically caught by investigators after trying to report another crypto thief to the police.

Greg Vitali, a member of Pennsylvania’s House of Representatives, has revised an energy conservation bill in the state, opting to drop a proposed two-year ban on crypto mining permits.

The American India Foundation, catalyzing social and economic change in India for the past 22 years, organized the annual education knowledge event - ‘PRAशिक्षा’ - Learning Beyond Boundaries’ at Silver Oak, India Habitat Centre, New Delhi this week. PRAशिक्षा demonstrated the power of collaboration in facilitating continued access to quality education for children affected by distressed migration, while addressing issues of governance and systemic transformation. Helmed by AIF’s award-winning flagship education initiative – The Learning and Migration Program (LAMP), ‘PRAशिक्षा’ brought together 120 sectoral experts, government officials, policymakers, and academicians, to cogitate pathways that create better access to education for children in displacement-prone regions of the country, especially those affected by climate-induced displacement, children with disabilities, and those living in red-light areas. The eminent speakers and delegates consisted of Mr. Shashi Prakash Jha-IAS & Director, Department of Women and Child Development & Social Welfare, Government of Jharkhand; Dr. Samiron Borad & Ms. Kabita Deka - Inspector of Schools, Assam Education Service (AES-I), Government of Assam; Dr. Hariprasad GV, Senior Lecturer, DIET, Shimoga, Chief Consultant, NSC - TSG, Ministry of Education, Karnataka, Government of India; Mr. Benoy Peter Co-founder and Executive Director, Centre for Migration and Inclusive Development; Dr. Vinita Yadav, Professor, Department of Regional Planning at the School of Planning and Architecture, New Delhi; Ms. Gazal Raina, AVP Sustainability, Global Business Services Pvt Ltd, Standard Chartered Bank; Mr. Joshy Jose, Director, Learning and Migration Program, AIF; Mr. Robin Sarkar, Project

The Federal Reserve should extend its pause on interest-rate increases because of growing evidence that higher borrowing costs will slow the economy despite recent signs of hiring and spending strength, a top central bank official said. Philadelphia Fed President Patrick Harker in a Tuesday interview said he thinks the central bank can likely wait until early next year to decide whether rapid rate increases over the past 20 months have done enough to keep inflation heading lower. “This is a time where we just sit for a little bit.

Washington Examiner columnist Tiana Lowe Doescher and FOX Business' Lydia Hu join 'Making Money' host Charles Payne to discuss the impact of the housing crisis on young people.

WASHINGTON (Reuters) — U.S. single-family homebuilding rebounded sharply in September, boosted by demand for new construction amid a dearth of previously owned homes, but the highest mortgage rates in nearly 23 years could slow momentum.

Shri Ram Janmbhoomi Teerth Kshetra to receive contributions from foreign sources for the construction of Ram temple in Ayodhya, its general secretary Champat Rai said on Wednesday. Such contributions can be sent to a designated bank account of the trust in the SBI's main branch located in Delhi, he said.

Bengaluru's deputy chief minister DK Shivakumar has now proposed the construction of a 250-meter tall skydeck in the city. As per a TOI report, if approved, this skydeck will become the tallest viewing tower in India. On Tuesday, Shivakumar, who is also the Bengaluru development minister, discussed the project's financial feasibility and land requirements.

This incident has sparked condemnation worldwide and led to violent protests in several Muslim nations. Amidst the chaos, blame for the devastating tragedy is being exchanged between Israel and Palestinians.

MMTC hit a lower circuit of 10% at Rs 78 in Wednesday's trade on BSE amid reports that the government might shut down the company. The Centre may decide the fate of three government-owned firms on Monday, October 23 in a high-level meeting to be chaired by Union Commerce and Industry Minister Piyush Goyal, according to CNBC-TV18 sources. Goyal is likely to take a call on the closure of the Metals and Minerals Trading Corporation of India (MMTC), the State Trading Corporation (STC) and the Project & Equipment Corporation of India Ltd (PEC). The closure of these three government-owned companies is pending as the Commerce Ministry had denotified them as canalising agencies for trade last year. Earlier, the government had examined the utility of the three companies and held that there was no need for any canalising agency in the Department of Commerce. MMTC used to be a canalising agency for exporting and importing high-grade iron ore, manganese ore, chrome ore, copra, and several other precious metals. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, «The canalising agencies like MMTC, STCI and PRC served a purpose during the era of shortages, high tariffs and import restrictions.

sugar has been extended beyond October 31, according to the notification. «This restriction is not applicable to sugar being exported to EU and USA under CXL and TRQ quota as per prescribed procedure in the respective public notices,» said the notification. India, world's second-largest sugar exporter last year had placed sugar in a restricted category until October 31, 2023 'to prevent uncontrolled export of sugar and with a view to ensure sufficient availability of sugar for domestic consumption at a reasonable price.' India allowed mills to export only 6.1 million tonnes of sugar during the current season ending on September 30, after letting them sell a record 11.1 million tonnes last season. Monsoon rains in the top sugarcane growing districts of the western state of Maharashtra and the southern state of Karnataka, which together account for more than half of India's total sugar output, have been as much as 50% below average so far this year, weather department data showed. India's sugar production could fall 3.3 per cent to 31.7 million tonnes in the 2023/24 season, the Indian Sugar Mills Association (ISMA) said. The last time India imposed a 20 per cent tax on sugar exports to curb overseas sales was back in 2016.

The U.S. Department of Defense on Tuesday released declassified photos and videos showing what it called a series of “coercive and risky” intercepts of American military aircraft by Chinese jets over the past two years, which officials say have spiked dramatically.

The former boss of Victoria’s rail agency breached its code of conduct by suggesting that a government joint venture should grant him an equity stake, the state’s auditor-general has found after investigating how $20 million of taxpayer funds were lost on a company created to remotely monitor bridges.

United States authorized non-essential personnel and their families to leave their embassy near Beirut on Tuesday, citing the unpredictable security situation in Lebanon due to the Israel-Hamas war. The State Department also raised its travel advisory for Lebanon from level three, issued in July, to the highest available level four, as it told Americans to avoid the country. «Do not travel to Lebanon due to the unpredictable security situation related to rocket, missile, and artillery exchanges between Israel and Hezbollah or other armed militant factions,» the State Department said in a statement Tuesday. Hamas launched a massive assault against Israel on October 7, shooting, stabbing and burning to death more than 1,400 people, most of them civilians. Reeling from the worst attack in its history, Israel launched a wave of retaliatory air strikes against the Gaza Strip, killing about 3,000 people, mostly civilians. Lebanon-based Hezbollah, which like Hamas is backed by Iran, has since been involved in a series of tit-for-tat incidents along the south Lebanese border with Israel. After a blast ripped through a Gaza hospital on Tuesday, killing hundreds, Hezbollah called for a «day of rage.» Israel and Palestinians have traded blame for the blast, though neither's claim could be independently verified. Following Hezbollah's call, hundreds of demonstrators scuffled Tuesday night with Lebanese security forces outside the US embassy in the Beirut suburb of Awkar, where protesters hurled stones and set a building on fire, according to AFP correspondents. Hundreds also gathered at the French embassy in Beirut, raising Hezbollah flags and also hurling stones which piled up at the embassy's main entrance. Palestinian

Diwali for Group C and non-gazetted Group B rank officials, including paramilitary forces. The Finance Ministry has fixed the ceiling for computing non-productivity linked bonuses (ad hoc bonuses) for central government employees at ₹7,000 for 2022-23.

RIL/Bharti Airtel: Bharti Airtel and Reliance Jio could face potential tax demands exceeding ₹14,000 crore due to the Supreme Court’s recent decision on licence fee categorisation, according to analysts. The judgment stipulated the treatment of the licence fee as capital, a departure from its previous classification as an expenditure.

Reuters. At the conference, Trudeau also listed reports of a possible hate crime at a Jewish high school in Toronto last week, fears among some of visiting synagogues due to a possibility of being attacked, and heated online rhetoric, as examples of the rising antisemitism in Canada.

Canadian billionaire entrepreneur Stephan Crétier, founder of the GardaWorld global security empire, has acquired a historic family winery in Napa, Calif., for more than $57 million.