Economy Financial News

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation.

spinners in India's T20 World Cup squad suggest that the Indian selectors are expecting slow turners in the Americas but have they missed a trick by picking only three pacers in the final 15? Also questionable is the choice of pacers. Before the IPL began, Jasprit Bumrah was the lone certainty in the pace department while the other contenders had to prove themselves in the league. As it turned out on Tuesday, the selectors chose to play safe and picked Mohammed Siraj and Arshdeep Singh to support the one-of-a-kind Bumrah in the ICC event beginning June 1.

Many car shoppers simply want a vehicle that’s practical, easy to drive and relatively inexpensive

RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. «This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. »Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.

Canada (IRCC) has announced that from April 30, it will cap the number of permanent residence applications accepted each year to those associated with no more than 10 start-ups per designated organization. “Fast processing is critical to the success of entrepreneurs who come to Canada through our federal business programs. These necessary changes will set the Start­up Visa Program and Self-Employed Persons Program on the path to faster processing times while we look ahead to further reforms to make these programs more sustainable and effective over the long term,” Marc Miller, Minister of Immigration, Refugees and Citizenship, said. Are you immigration ready? Find out This move is aimed at reducing the backlog and improving processing times for applications, which have grown significantly. With approximately 82 designated organizations comprising venture capital funds (VCFs), angel investors, and business incubators, the new cap translates to a maximum of 820 applications per year, assuming the number of designated organizations remains unchanged.

Ambuja Cements reported a standalone net profit of Rs 532 crore for the quarter ended March 2024, which is higher by 6% year-on-year. The company had clocked a profit of Rs 502 crore in the same period last year. Revenue from operations during the fourth quarter increased 12% year-on-year to Rs 4,780 crore, compared with Rs 4256 crore in the same quarter of last year.

₹2.10 trillion in April, according to the finance ministry data on Wednesday. The GST collection breached the ₹2 trillion mark for the first time, reflecting robust economic growth and administrative efficiency in tax mop-up. The revenue collected by the Centre and states on goods and services consumed in the country in April was 12.4% higher year-on-year, as per data from the finance ministry.

Saudi Arabia's real gross domestic product (GDP) decreased 1.8% year-on-year in the first quarter, flash estimates by the government's statistical authority showed on Wednesday, as a decline in oil activities continued to hurt overall growth. The kingdom's GDP had shrunk 3.7% in the fourth quarter of 2023, as cuts to oil production and lower crude prices weighed on the economy.

Gold rate today: Ahead of the US Fed meeting outcome, gold prices across work have come under pressure. On the Multi Commodity Exchange (MCX), gold rates for the June 2024 expiry ended yesterday at ₹70,466 per 10 gm level, around ₹3,500 below its lifetime high of ₹73,958 level, which it had climbed on 12th April 2024.

After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year

Sameer Prajapati, Greater Kailash - 2, Delhi, India The Nifty MidSmall Healthcare Index is a specialised index that offers investors a snapshot of the midcap and smallcap segments of India's burgeoning healthcare sector. This index is meticulously designed to track the performance of companies that are considered mid-sized or small-sized in terms of market capitalization, providing a unique perspective on a vital part of the economy. The index is composed of up to 30 stocks, selected based on their free-float market capitalization.

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.

Of spinners and death over specialists: The best news is the return of Rishabh Pant as wicketkeeper-batsman after recovering from a long injury layoff to make a scarcely believable comeback in the IPL. Leg-spinner Yuzvendra Chahal also returns to the team after a hiatus, following three great IPL seasons for Rajasthan Royals (RR). However, despite his heroics this season, he’s likely to be a backup to all-rounder and left-arm spinner Ravindra Jadeja and left-arm leg-spinner Kuldeep Yadav, except for the unlikely event of India fielding three spinners.

NEW DELHI : Services sector raced ahead in company registrations in the just-ended financial year, reflecting the rapid formalization of a segment with few entry barriers. While services accounted for 71% of the 185,300-plus new companies registered in FY24, industry made up less than a fourth, while the farm sector accounted for about 6%.

Statistics Canada is predicting gross domestic product growth will be flat in March after data released Tuesday showed the Canadian economy slowed more than expected in February.

The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Canada’s previous prediction, increasing the pressure on the Bank of Canada for a potential interest rate cut in mid-2024.

Amazon has reported strong results for the first quarter

A Taliban-run tourism and hotel management institute has opened its doors to students

Private sector YES Bank has partnered with Bengaluru-based financial services provider ANQ to unveil two credit cards catering to Indian consumers. These two cards are – Pi and Phi co-branded cards.

Stocks paused their gains amid a flurry of corporate news and earnings with traders adopting a cautious stance before the Federal Reserve’s policy decision on Wednesday.

U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures