Progressive Financial News

US Federal Reserve Chair Jerome Powell on Thursday delivered a speech at the Jackson Hole Symposium, titled ‘Inflation: Progress and the Path Ahead'. The economic policy symposium “Structural Shifts in the Global Economy," is sponsored by the Federal Reserve Bank of Kansas City. Good morning.

labour market strength may call for a greater response. “Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy," added Powell.

Grasim Industries Limited announced that the company will be shifting focus towards growing two new businesses of paint and building materials going forward, while already investing ₹1,979 crore as capital expenditure (capex) in the paint business in fiscal year 2023, said Kumar Mangalam Birla, Chairman Grasim Industries Limited at its 76th Annual General Meeting (AGM). “Your company has embarked on a transformational growth phase with the incubation of two new high-potential growth engines—paints and B2B e-commerce for building materials. In FY23, your company executed its largest ever capital expenditure investing ₹4,307 crore including ₹1,979 crore toward the paints business," he added.

Federal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.

Indian Space Research Organisation (ISRO) on Friday said that the planned Rover movements have been verified and it has travelled a distance of nearly eight meters on the Moon. «All planned Rover movements have been verified. The Rover has successfully traversed a distance of about 8 meters.

R K Marble embarked on a journey fueled by a passion for excellence. Over the years, the company's dedication to innovation and artistry has elevated it to a position of prominence, revolutionizing how we perceive and interact with natural stone. Its story is a testament to the power of vision, hard work, and a commitment to delivering the best.

Cardano is a smart contract platform that aims to provide a more scalable, secure, and sustainable alternative to Ethereum. Cardano has also partnered with various governments and organizations in Africa and Asia to provide blockchain solutions for identity, education, and health sectors. Cardano has recently completed the Alonzo upgrade.

RBI) released the minutes of its latest Monetary Policy Committee (MPC) meeting, in which the central bank's Deputy Governor Dr Michael Debabrata Patra highlighted that India faces the onslaught of overlapping localised supply shocks, which are causing price-sensitive food items in the consumer price index (CPI) to spike and push up headline inflation. ‘’The elephant in India is the monsoon, with August shortfalls rendering the outlook uncertain in the shadow of El Niño effects even as Indian Ocean dipole conditions are turning positive,'' said the MPC member in the latest MPC minutes released on Thursday.

India's Reserve Bank's move to allow international... moreIndia's Reserve Bank's move to allow international trade in Indian rupees aimed to cut the oil import bill and boost rupee adoption.

Coal India Limited (CIL), the state-owned mining giant, has also shown remarkable progress in managing its pithead coal stock. As of 23 August, CIL reported a stockpile of 46.13 million tonne, reflecting a growth rate of 45.5% compared to the 31.70 million tonne held on the same date in 2022.

Reliance Industries Ltd (RIL), led by Mukesh Amban... moreReliance Industries Ltd (RIL), led by Mukesh Ambani, is doubling its green energy investment target to ₹1.5 trillion, showing its commitment to sustainability.

Indians were granted a total of 17,379 work visas last year, Federal Foreign Office of Germany said. Germany granted a total of 152,336 national work visas to foreigners in 2022, representing a significant increase compared to 2021. Out of the total visas issued to Indians, 8,613 work visas were granted by the German Consulate General in Bangalore. The second-highest number of work visas for Indians was granted by the German Consulate General in Mumbai (3,013), followed by the Consulate General in Chennai (2,483), the German Embassy in New Delhi (2,434), and the German Consulate in Kolkata (836). Turkish nationals are the second-largest beneficiaries of work visas issued by Germany followed by Bosnians, Kosovars, Russians, Albanians, and North Macedonians. This comes at a time when German cabinet on Wednesday passed a draft bill to ease the citizenship law, hoping a faster track to German nationality will attract skilled migrants to plug chronic labour shortages holding back Europe's biggest economy. Some experts caution that progress may be slow, noting parts of Germany's administrative machinery are already creaking under a big backlog of existing citizenship applications.

Narendra Modi was conferred with the Grand Cross of the Order of Honour by Greek President Katerina N. Sakellaropoulou in Athens on Friday, the prime minister's office said.

Zee Entertainment Enterprises, on Friday moved the Securities Appellate Tribunal challenging a recent confirmatory order by Securities and Exchange Board of India (Sebi) that restrained him and Subhash Chandra from holding any key positions in Zee group entities until further orders. In its appeal before the tribunal, the senior counsel representing Goenka requested a stay on the effect and operation of the regulator’s order.

Dwarka Expressway will have to extend their patience. According to officials from the National Highways Authority of India (NHAI), the final stages of work on the 18.9 km section of the expressway within the city's limits will now conclude in October, a delay from the earlier projected completion date of August, a TOI report stated. The Dwarka Expressway is India's first elevated urban expressway.

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B20 Summit in India: Advocating the use of AI and its benefits for India, Tata Sons and Air India Chairman, N CHandrasekaran said, “In a country like India, AI will create more jobs." He strengthened his claims by saying that AI will empower people with less skills with information. It will also help in reducing the workload of professionals.

Central banks in Ghana and Eswatini have made progress from introducing CBDCs to their countries, and have seen benefits emerge. CBDC usage has proved cost-efficient, convenient, and more secure than other digital payment methods. With the intention of prompting more of the 1.4 billion unbanked population engage in the digital economy, these initiatives have seen key developments and could pave the way for new markets and networks in the global digital payments sector.

Sullivan convened the national security and senior G20 representatives of the Quint (an informal decision-making group consisting of the United States and France, Germany, Italy, the United Kingdom and the European Union) at the White House to discuss the ensuing G20 Leaders' Summit in New Delhi, according to a White House release. The participants discussed their unified support for the G20 and India's G20 Presidency, as well as their commitment to ensuring strong outcomes in New Delhi, including demonstrating the G20's role as the premier forum for economic cooperation, driving an affirmative and ambitious agenda for developing and emerging countries, and making progress on evolving the multilateral development banks to be more responsive to shared global challenges, the official release informed. The G20 Summit is slated to take place on September 9-10 at the recently-inaugurated state-of-the-art Bharat Mandapam convention centre at Pragati Maidan in New Delhi. Many heads of state and diplomats including US President Joe Biden, Chinese Premier Xi Jinping, Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron are expected to be attending the G20 Leaders' Summit. The 18th G20 Heads of State and Government Summit in Delhi, under India's presidency will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies. Sullivan also convened the Quint national security advisors of France, Germany, Italy, and the United Kingdom at the White House on Thursday. Noting that it is also Ukraine's Independence Day, participants reiterated their enduring commitment to supporting Ukraine in its defence against Russian aggression for as long

The South Korean central bank, the Bank of Korea (BOK), is set to showcase a “blueprint” for its CBDC in September as the nation looks to speed up the progress of its digital KRW.

It’s no longer “on” and then “off” when it comes to Australia’s coal power stations, as developments this week have made clear.