Economy Financial News

ET Now in 2020, Murthy said, ‘’Indians would have to learn to live with coronavirus for the next 12-18 months, companies will need to take precautions, and overall, Indians would have to put in more work and more hours to put the economy on a track again.'' Also Read: Narayana Murthy pitches for change in India's work culture, says ‘youngsters should work for 70 hours a week if…’ Notably, the comments by the tech leader then came at a time when the first wave of COVID-19 had gripped the country into an economic slowdown. Murthy explained that to pull the Indian economy out of the slump that had resulted from the COVID-19 lockdown, Indians should vow to work longer and harder.

₹6,558 crore in Indian stocks.Oil prices rose on Friday, regaining ground after tumbling more than $2 a barrel in the previous session as concerns of a wider Middle East conflict eased while the United States, the world's biggest oil consumer, showed signs of weakening demand.Global markets continued to tumble with Wall Street nearly 10% below its high mark for the year after big-name companies warned an uncertain global economy may hurt their profits.Indus Towers, the world’s largest telecom tower provider, is in discussions with Vodafone Idea to create a ‘time-bound’ plan for the repayment of the telco's dues, even as it has received some pending dues from Vi during the quarter.“While the customer had some challenges during the quarter, we will receive the monthly payments in October from them. Our expectation is that the monthly payment will continue.

Treasury yields rebounded Wednesday, reflecting concerns that interest rates might stay high for long. Fears that the Hamas-Israel conflict may widen into a bigger regional turmoil added to the negative sentiment. The fall in global crude prices did not aid sentiment. Extending the losing run to the sixth straight session, the Nifty closed below 19,000 for the first time since June 28 amid intense selling by foreign portfolio investors.

The UK Parliament has passed a bill that allows law enforcement authorities to seize cryptocurrencies associated with illicit activities.

Mint explains. The yield on a treasury bond at any point of the time is the per-year return investors can expect to earn if they buy the bond at that point and hold on to it until maturity. Treasury bonds are financial securities issued by the US government to finance its fiscal deficit—the difference between what it earns and what it spends.

More Canadians are failing to meet their car loan payments as short supply and the rising cost of borrowing have consumers feeling the pinch.

Reserve Bank of India is likely to meet with banks next week to discuss the key issues of liquidity in the banking system and developments in sovereign debt yields, which serve as benchmarks for pricing corporate borrowing. «There are meetings scheduled on November 2 and November 3. The discussion points include the skewed liquidity distribution in the banking system and the reasons why some banks deploy excess liquidity at the RBI's Standing Deposit Facility (SDF) and why some banks which are short of liquidity often have to take recourse to borrowing from the Marginal Standing Facility (MSF),» a person aware of the matter said, asking not to be named. «The RBI's plan regarding open market bond sales is also likely to come up for discussion.

Washington has decided to withdraw its proposal on digital trade at the global trade body to retain the policy space to regulate Big Tech firms. The changed position is crucial ahead of a key ministerial meeting of the WTO next year for which digital trade has been identified as one of the «solid deliverables» by senior trade officials of 164-member countries on Tuesday. The WTO e-commerce negotiations, through a Joint Statement Initiative (JSI), began in 2019 with 90 members trying to reach a consensus on data flows, data localisation, and protection of source code by MC13. India has opposed the plurilateral initiative and has kept away from the talks. New Delhi backs flexibility in digital policy and has concerns about the potential dominance of a handful of e-commerce players. India has also expressed apprehensions over the proposed rules favouring foreign companies, especially the Big Tech. «The new US stand on digital trade validates India's approach on the subject.

The number of Americans applying for jobless benefits rose last week but remains historically low as the labor market continues to show strength amid high interest rates and inflation

A slide in big tech weighed on stocks, while Treasury yields fell as economic data reinforced the case for a United States Federal Reserve pause next week — with traders betting the central bank is most likely done with rate hikes.

OTTAWA (Reuters) — The Bank of Canada (BoC) may not have to raise its key overnight rate further if inflation cools in line with the central bank's expectations, Governor Tiff Macklem said in an interview with the Canadian Broadcasting Corp.

biggest energy producers, and countries like India, the biggest consumers. Crude oil prices had shot up more than three times during the 1990 Gulf War. In a wide-ranging conversation on ET’s The Morning Brief podcast with Arijit Barman Robert ‘Bob’ McNelly, Founder and President of Rapidan Energy, talks about the volatile energy economics and geopolitics. McNelly has seen conflicts from up close.

By Lefteris Papadimas

ATHENS (Reuters) — The European Central Bank left interest rates unchanged as expected on Thursday, snapping an unprecedented streak of 10 consecutive rate hikes, and maintained its guidance which signals steady policy ahead.

ATHENS (Reuters) — The European Central Bank broke the longest streak of interest rate hikes in its 25-year history on Thursday, saying the latest data continued to point to inflation slowly coming down to its 2% target.

₹2.03 trillion. Among loan segments, farm equipment grew the slowest at 5.6%. The fastest growth, was seen in personal loans (73.3%), albeit on a smaller base than most other segments.

LONDON (Reuters) — The European Central Bank broke the longest streak of interest rate rises in its 25-year history on Thursday, as slowing inflation continued to point to an eventual drop towards its 2% target and the bloc's economy deteriorates.

(Reuters) -Mastercard on Thursday forecast a weaker-than-expected growth in net revenue for the fourth quarter, signaling a potential moderation in spending volumes as an uncertain economic environment prompts caution among consumers.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

H-1B visa process for speciality occupations could harrow the scope of applicants who qualify for the visa, said IT industry body Nasscom in a preliminary note. On October 23rd, the US Department of Homeland Security (DHS) released a proposed rule intended to modernize, improve, and increase flexibility in the H-1B visa program. The H-1B non-immigrant visa program allows US employers to temporarily hire foreign workers for specialized occupations that require a bachelor's degree or higher. Nasscom has also welcomed some of the proposed changes. The proposed rule is currently open for a 60-day comment period. Nasscom will be making a formal submission and has already begun a thorough industry assessment of the proposed rule. Nasscom said, in a note, that sections of the proposed rule align with the former (US) administration’s unsuccessful attempts to limit the H-1B program in a manner that raises concerns for the IT industry. “For example, the proposed tightening of the definition and requirements for H-1B “specialty occupations” narrows the scope of applicants who will qualify for an H-1B visa and ignores the nature of our modern workforce, not found in the Immigration and Nationality Act (INA). This and other hurdles in the proposed rule create difficulties for companies attempting to hire the necessary skilled workers to fill key, and currently unfilled, jobs across STEM fields,” said Nasscom.

Investing.com --Amazon takes the lead as the quarterly earnings season continues, with the tech sector remaining in focus. The European Central Bank is expected to halt its rate-hiking cycle, while investors will also focus on the latest quarterly U.S. growth numbers ahead of next week's Federal Reserve meeting.