Department Financial News

Delhi chief minister Arvind Kejriwal on Wednesday came out in support of AAP MP Sanjay Singh amid ongoing ED raids in connection with excise policy scam. The CM said that nothing will be found at Singh's residence. He further said that agencies like ED, CBI will get more active with 2024 elections approaching.

interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives. According to the resolution released by the Department of Economic Affairs (DEA), Ministry of Finance on October 4, 2023, «It is announced fit general information that during the year 2023-2324, accumulations al the credit of subscribers to 1he General Provident Fund and oilier similar funds shall carry interest at 7.1 percent wef October 1, 2023 to December 31, 2023.» Also read: PPF, Sukanya Samriddhi, SCSS, NSC interest rates for December 2023 quarter announced; check here For the October -December quarter of 2023, the government has kept the interest rate on GPF and linked funds unchanged. This is expected because the interest rate of these provident funds normally follows the interest rate of the Public Provident Fund (PPF), which has remained stable during the first quarter of 2023. 1. The General Provident Fund (Central Services). 2. The Contributory Provident Fund (India). 3. The All India Services Provident Fund, 4. The State Railway Provident Fund. 5. The General Provident Fund (Defence Services) 6. The Indian Ordnance Department Provident Fund, 7. The Indian Ordnance Factories Workmen's Provident Fund. 8. The Indian Naval Dockyard Workmen's (Provident Fund. 9. The Defence Services Officers Provident Fund. l0. The Armed Forces Personnel Provident Fund.

Qantas says Qatar Airways carries more Australians out of the country than tourists in, dismissing claims from the travel sector that denying the Middle Eastern carrier’s bid to add flights has damaged the economy as “overstated”.

The Supreme Court is taking up a case that could make it harder to sue hotels when their websites are not clear enough about their accommodations for people with disabilities

U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve

Macy’s is accelerating the expansion of its small-format stores as it looks to cater to shoppers seeking more convenient locations

international STEM students in the United States, the Supreme Court has refused to hear an appeal challenging the Optional Practical Training (OPT) program. The OPT program, which permits international students in the United States on student visas to work during their studies or up to one year post-graduation, has been a crucial pathway for international students seeking employment opportunities in the country. At the heart of the case was the extension of the OPT program for up to 36 months after graduation, a provision introduced by the Department of Homeland Security in 2008 and modified in 2016. This extension was exclusively available to students pursuing careers in science, technology, engineering, or math (STEM) fields, making it especially attractive to tech companies. The Washington Alliance of Technology Workers (Washtech), a Communication Workers of America affiliate, initiated the legal challenge against this extension in 2014, arguing that it allowed tech employers to sidestep the H-1B visa program, which has limited annual quotas and is assigned through a lottery system. The STEM OPT extension not only simplifies the hiring process for tech employers but also enables visa holders to apply for a green card during their stay in the US, offering a pathway to permanent residency similar to H-1B visa holders. Throughout the legal battle, Washtech faced several setbacks, including a critical decision by the DC Circuit Court of Appeals in 2022. The union's argument questioned the Department of Homeland Security's authority to establish the OPT STEM extension, contending that it reshaped the entire non-immigrant visa system and undermined protections for American workers.

Istanbul Airport after IndiGo allegedly failed to put them on their connecting flight to India. The couple, with the husband being wheelchair-bound, were returning to Mumbai from London. They had booked a single PNR ticket for their journey, with the London-Istanbul leg operated by Turkish Airlines and the subsequent flight to Mumbai by IndiGo.

On Wednesday, Bitcoin faced a modest decline of nearly 0.50%, with its trading price settling at $27,412. However, this slight dip belies the cryptocurrency's resilient performance over the past week, witnessing an impressive surge of nearly 4%. 

Sugar mills of Maharashtra and Karnataka, which together account for more than half of the country's production of the sweetener, are gearing up for a fierce battle among themselves to get every stalk of sugarcane possible. For the first time ever, Karnataka has fixed an official date to begin sugar production and take legal action against mills that do not obey. Meanwhile, just before a crucial government meeting, the sugar industry of Maharashtra is divided over the right time to begin this year's sugar production so as to maximise the chances of getting a larger share of the shrunken availability of the raw material. This situation is making officials concerned.

Odisha and Jharkhand on Wednesday due to a low-pressure area in the eastern region. The Meteorological department has forecast heavy rain in several districts of West Bengal till October 5 under the influence of the low-pressure area formed over southwest Jharkhand and adjoining northern Chhattisgarh. It said that light to moderate rain will occur at most places in the state during the period.

TAIPEI (Reuters) — Taiwan's central bank will intervene in the foreign exchange market if there are «extreme» fluctuations to maintain financial stability, its governor Yang Chin-long said on Wednesday.

The Victorian government’s bill for the cancelled Commonwealth Games has risen by another $40 million after fresh documents revealed Labor’s spending on consultants and venues.

Matt Gaetz, a hard-right Republican hailing from Florida, led the removal of House Speaker Kevin McCarthy through a historic single-page resolution. Gaetz's move, backed by a handful of conservative allies, toppled McCarthy by a narrow vote of 216-210.

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Investing.com — The selloff in gold slowed the first time in nearly two weeks on Tuesday after the yellow metal hit a new 7-month low on the back of the virtually non-stop surge in Treasury yields and the dollar’s accompanying surge to 11-month highs.

Investing.com — If there’s nothing greatly new in your own market to prop it up, you can always borrow a fundamental or two that weakens your rivals — in this case, US Treasuries and the dollar.

The Treasurer’s office raised no objection to extending the competition watchdog’s monitoring of price gouging by airlines, but said Transport Minister Catherine King would need to determine it is a priority.

Famous billionaire short-seller Jim Chanos blasted Big Short author Michael Lewis on Sunday for his charitable defense of FTX founder Sam Bankman-Fried (SBF).

By Simon Lewis and Patricia Zengerle

Bharti Enterprises vice chairman Akhil Gupta has said cash-strapped Vodafone Idea’s survival is vital for growth of India’s biggest telecom tower company, Indus Towers, in which Bharti Airtel is the biggest stakeholder. Gupta also expects a combination of higher data consumption and fixed wireless services to drive 5G monetisation for India’s top telcos in the near-term. “Indus’s growth will be dependent on Vi catching up on 4G investments and eventually rolling out 5G…hence survival of Vi is important for Indus’ growth prospects,” JP Morgan quoted Gupta as saying in a recent investor summit hosted by the global brokerage. Loss-making Vi has been struggling to raise funds needed to pay vendors and the government, expand its 4G coverage and invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel. Vi’s chief executive Akshaya Moondra though recently told the Department of Telecommunications (DoT) that the company had made significant progress in its ongoing talks with several groups of investors to raise equity and equity-linked capital, and had term sheets from some potential investors. But the telco is yet to close its fundraise. JP Morgan quoted Bharti’s Gupta saying that India “needs three fully functional private operators,” which is why the survival of Vi was important.