Economy Financial News

₹136 - ₹140, with a face value of ₹10 per share and market lot of 1000 shares. Specializing in bulk trading of surplus inventory, open-boxed items, re-commerce products, and refurbished goods, the company aims to raise ₹21 crore through the IPO. This fundraising effort exclusively involves a fresh issue of shares.

Stocks of IT companies, which earn a significant share of their revenue from the US, climbed 5.07%, their best week in 16 months. Here's how analysts read the market pulse: «Considering the sharp rise in the previous couple of trading sessions and the Nifty reaching crucial resistance levels, short-term consolidation is likely. On the downside, 19,630 – 19,600 is the crucial support zone to watch out for and in case of a dip this zone is crucial to hold on for the uptrend to continue,» said Jatin Gedia of Sharekhan. Rupak De, LKP Securities said, «Nifty has largely traded within a range, showing a predominantly bullish sentiment.

LONDON (Reuters) -British finance minister Jeremy Hunt said on Sunday that he would not implement tax cuts that would push up inflation, days before he announces a major budget update that is widely expected to contain tax cuts.

By Andreas Rinke

Investing.com — In the holiday-shortened week ahead investors will be looking to the minutes of the Federal Reserve’s latest meeting for any fresh insights on the future path of interest rates. Retailers are preparing for what they hope will be another bumper holiday shopping season. Nvidia is the last megacap company to report earnings and oil prices look set to remain volatile. Here’s what you need to know to start your week.

By Nicolás Misculin

RBI, is foreseeing a risk in the system of excess liquidity, has measured to raise the risk weightage of unsecured loans from 100% to 125% and credit cards from 125% to 150%. This may be in anticipation of a rise in NPAs and highly for categories like Credit Card and Personal Loans, in the future.

economy goal. There is a “wide consensus" supported by economic forecasts that real gross domestic product (GDP) growth in the second quarter will turn out to be better than the Reserve Bank of India’s (RBI) projection of 6.5 percent, an article in the central bank’s November bulletin said on November 16. India’s economy expanded 7.8 percent in the first three months of the financial year and RBI governor Shaktikanta Das recently expressed confidence in the domestic economy.

India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.

Treasurer Jim Chalmers will be keeping his fingers crossed that the disinflation that is now sweeping major global economies will soon make itself felt in Australia.

critical minerals that, among other things, are key to transitioning to clean energy with some prodding from the US in the run-up to Prime Minister Narendra Modi's state visit. The major factors aiding India's induction into this group included the sheer size of its market, criticality in meeting the global goals for mitigating greenhouse gases and, as the voice of the Global South, a phrase used for less developed and developing countries. The Minerals Security Partnership, as the group founded in June 2022 is called, seeks to offer an alternative to China's dominance in mining and processing critical minerals such lithium, cobalt, copper and others. Lithium is a key component of batteries and demand for it is estimated to go up by more than 40 times in view of the large-scale transitioning to electric vehicles of all kinds — cars, buses and two-wheelers — over the next couple of years. Australia, a member of the MSP, is the largest producer of this mineral and China is the third largest. These countries want to put together a supply chain in critical minerals — from exploration to mining to processing to distribution — that is safe from disruptions, the kind triggered by unforeseen events such as the Covid-19 pandemic, or manipulation by monopoly majority stakeholders. Geoffrey Pyatt, the US Assistant Secretary of State for Energy Resources, set the conversation rolling during a visit to India prior to the Prime Minister's visit. Though he wouldn't say that this was like an «American demand», he said this when asked if India sought membership of the group or it was persuaded to join it. «We were both pushing on an open door.

Inflation eased in both the US and UK, prompting bets that central banks on both sides of the Atlantic will start cutting interest rates by the middle of next year. Meantime, expectations for growth across Europe are improving, but the rebound remains fragile in the European Union’s east. The economic recoveries underway in China and Japan are also shaky given slowing consumption, among other factors. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: US US inflation broadly slowed in October, which markets cheered as a strong indication that the Federal Reserve is done hiking interest rates.

India's G20 sherpa, Amitabh Kant, has said the India-Middle East-Europe Economic Corridor (IMEC) will be a resounding success, despite the Israel-Hamas conflict casting a shadow over its viability. «India will continue to play a central role, balancing interests and aligning incentives to ensure IMEC reshapes global trade,» Kant told ET, adding that the project is resilient enough to withstand the current turbulence in the Middle East. Minted in New Delhi on the sidelines of the G20 summit in September, this ambitious geo-economic and geo-strategic project is designed with two components — an eastern corridor connecting India to the Gulf region, and a northern corridor that will link the Gulf to Europe through a ship-rail transit network and road transport routes. «Despite the ongoing geopolitical tensions, on which India's position has been made clear at the United Nations, we should focus on the long-term significance of projects such as IMEC,» said Kant.

Mark Twain, sometimes reality is stranger than fantasy because fantasy is limited by one’s imagination; reality isn’t. India’s World Cup campaign is a wonderful example. Not even in anybody’s wildest fantasy would India have won 10 out of 10 matches, like the way Rohit Sharma’s blue brigade has done. Who would have thought that India would go on to beat every team: defending champions England, champions of champions Australia, run-machine South Africa, bigger-than-the sum-of-their-parts and their conquerors in the last edition New Zealand (twice), most-important-team-to-beat Pakistan, favourite opposition Sri Lanka and Bangladesh, while also avoiding any possible upsets against Afghanistan and Netherlands. But, it’s a reality now. India’s batsmen have piled on runs as if they were playing against ‘B’ teams.

In the ever-evolving world of cryptocurrency, Bitcoin (BTC) has experienced a slight retreat, now trading at $36,410, marking a 0.25% decrease on Saturday. This latest fluctuation comes amid significant developments in the crypto space.

IPEF members concluding the negotiations for fair and clean economy agreements, India should follow a cautious approach while finalising the text of these pacts as new commitments need not restrict its policy space or tax revenue generation abilities, a report said. Think tank Global Trade Research Initiative (GTRI) said in its report that after the conclusion of the negotiations, the IPEF member countries, including India will now do domestic consultations and legal reviews and prepare final texts of the proposed agreements. While doing that, the government needs to «focus on ensuring that new commitments do not overly restrict its policy space or tax revenue generation abilities,» it said. This includes careful considerations in areas such as clean economy commitments, labour standards, and agricultural policies, it added. India, the US and 12 other members of the Indo-Pacific Economic Framework for Prosperity (IPEF) have this week concluded the negotiations on the clean and fair economy agreements with a view to strengthen the implementation of effective anti-corruption and tax measures and promote sustainable trade. It was announced after the third IPEF ministerial meeting held in San Francisco, California, this week.

Investment in manufacturing: The Production-Linked Incentive (PLI) scheme is invigorating India's manufacturing sector by strategically targeting 14 key industries, including electronics, automobiles, pharmaceuticals, and more. As a result, early signs of success are evident, especially in the electronics sector.

The Indian Railway rolled out a dedicated train on Saturday, exclusively for cricket enthusiasts traveling from New Delhi to Ahmedabad to witness the Cricket World Cup 2023 final showdown. This initiative brings a sigh of relief to fans who were grappling with exorbitant airfares, ranging from Rs 20,000 to Rs 40,000.

In 2022, after the war between Russia and Ukraine broke out, there were supply chain disruptions. The combination led to inordinately high inflation. Central banks all over the world used the medicine they know: hike interest rates and take back part of the excess liquidity. At the juncture where we stand now, it seems rate hikes are over.

The IMF has revised down Pakistan’s foreign loan requirements to USD 25 billion for the ongoing fiscal year — reducing it by USD 3.4 billion in a big relief for its cash-starved economy, according to a media report on Saturday.The Washington-based global lender also lowered the economic growth projection to just 2 per cent, turning down the government’s external as well as macroeconomic forecasts, The Express Tribune newspaper reported.

The Indian real estate sector has witnessed a significant transformation over the past few years, with luxury housing emerging as a notable segment that has garnered substantial attention from investors and homebuyers alike. Mumbai, often referred to as the financial capital of India, stands out as a hub for luxury housing development among the major Indian cities. The growth outlook for luxury housing in Mumbai and India at large highlights the factors that are driving the demand for opulent residences.