Services Financial News

“Indian services companies achieved a remarkable milestone in August, as they welcomed a series record surge in new export business. Several regions contributed to the upturn, including Asia Pacific, Europe, North America and the Middle East,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence. The seasonally adjusted S&P Global India Services PMI Business Activity Index also recorded a consecutive 25-month of expansion in new business, as advertising and robust demand kept the index above the 50-mark. A value of above 50 denotes expansion. “Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects,” De Lima said. Strong services growth and capital spending pushed India’s GDP growth to a four-quarter high of 7.8% for the first quarter of FY24, according to data released last week. Financial, real estate & professional services grew in double digits at 12.2% in Q1, whereas trade hotels, transport, communication and services related to broadcasting expanded 9.2%. Among the four sub-sectors of PMI services index, finance & insurance led growth of both total new business and output in August. The employment situation was better, as the rate of job increase was fastest since November. On the inflation front, output inflation rose at the joint quickest pace in nearly six years. “Anecdotal evidence indicated that robust demand conditions facilitated the passing on of cost increases to clients,” the report indicated.

Growth in India's dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand. Tuesday's findings, coupled with a sister survey on Friday which found factory growth expanded at its fastest pace in three months, suggest Asia's third-largest economy will be the fastest-growing major country despite slowing global growth. The S&P Global India services Purchasing Managers' Index fell to 60.1 in August from 62.3 in July, lower than the Reuters poll expectation of 61.0. Still, the reading was above the 50-mark separating growth from contraction for a 25th consecutive month — the longest stretch since August 2011. «This spike in international demand supported one of the best sales performances recorded over the past 13 years, and acted as a catalyst for firms to expand their workforces as well as output,» noted Pollyanna De Lima, economics associate director at S&P Global. «Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects.» A sub-index monitoring overall demand slowed slightly in August compared to the previous month.

Apple Inc and Microsoft have argued that some of their services were not popular enough to be designated as «gatekeepers» under the EU's new Digital Markets Act, designed to curb the powers of Big Tech, the Financial Times reported on Monday. Apple is battling over its iMessage chat app, while Microsoft is battling over its search engine Bing, ahead of Wednesday's publication of the first list of services to be regulated under the act, the report said.

airport or railway stations will be required to show valid identification and boarding passes as part of the security measures. On September 3, the Station House Officer of Daryaganj police station in the Central district initially issued an order for the shutdown of shops, offices, and bus depots, but this directive was later withdrawn, reported The Hindu.

Commuter woes are set to mount in the national capital amid the G20 Summit with metro closures, bus diversions and more. Officials have announced the complete closure of one metro station and indicated the possibility of additional curbs. “Delhi Metro services will be affected at the Supreme Court metro station only.

'Working with P1 allows us to launch as a nimble startup but with the support and resources of a larger firm.'

Supreme Court. This comes after a letter was sent from DCP Metro to the Chief Security Commissioner, Delhi Metro asking them to close the gates of some metro stations in view of the security concerns. Addressing the Media, Surender Yadav said «Delhi Metro services will be affected at the Supreme Court metro station only. Metro services will continue at all other stations.

₹40,545 to ₹58,565, beginning from September 14. These reduced fares are expected to remain in the range of ₹17,885 to ₹21,444 and stable until November 1. Afterwards, fares are anticipated to rise again, coinciding with the festival season and the New Year rush.

WBS and Aviva first collaborated in 2011 on the advised elements of the Aviva platforms, with WBS providing trading and custody services for exchange traded assets.

Tata Power Company with a target price of Rs 266. The current market price of Tata Power Company is Rs 256.75.

Bharat Electronics with a target price of Rs 143. The current market price of Bharat Electronics is Rs 141.1.

RailTel Corporation of India, India Pesticides and RattanIndia Power. BSE uses a circuit filter mechanism to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.

ALSO READ: G20 Summit in Delhi: Offices to opt WFH from Sept 8-10; Check latest traffic advisory for metro, bus services Delhi Police conducted full dress rehearsals in different parts of the national capital on Saturday, advising people to check real-time traffic updates at the 'G-20 Virtual Help Desk' for route suggestions. These route suggestions are for commuting from/to the airport, railway stations, or bus terminals.

Jio Financial Services' circuit filter from 5% to 20% and the filter will be effective from Monday, BSE said in a notification. Circuit filters are a price range provided for each index. Jio, which was spun out of Reliance Industries, was removed from BSE indices on 1 September.

Moneycontrol has reported. Sources told Moneycontrol that the company has been testing the feature since more than a month within its app for employees and the small number of consumers for whom it is available. It further added that the feature is on the app under the name ‘OLA ONDC food’ as sources also told the daily that Ola will not launch a separate delivery app.

ministry of external affairs (MEA) has introduced 'significant' changes in the delivery of passports, visas and consular services in its move to mitigate predatory pricing, Travel Agents Association of India (TAAI) said in a statement. The industry body also said the ministry's move tightens rules for selection of partners visas and consular services to the Indian diaspora and foreign visitors. The Indian missions of the MEA are the first touch points for any international traveller coming into India — the Indian Citizen or Person of Indian Origin (PIO) and foreigners (traveling to India) residing overseas. «The ministry of external affairs (MEA) has embarked on a transformational programme to reform and strengthen its tendering and evaluation process in a holistic manner to select the right outsourced service providers,» said TAAI president Jyoti Mayal. «While the focus lies on L1 pricing, there is a strong emphasis on the four pillars of quality services, sustainable and viable price, data protection and security, and ethical practices and integrity,» she added. She said it is important that the first impression of any individual travelling to India or having to work with any Indian Mission anywhere in the world needs to be 'impeccable' as the government is determined to work towards delivering the promise of new India. «Therefore, the MEA and its missions as true representatives of the Indian government to the world must focus on offering superior, efficient, and cost-effective services as perhaps the first step in that direction,» she added. The president concluded by stating that India is positioning itself as a global leader in several sectors such as trade, cross border services and citizen services. «As India

At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market — seen as a move to ensure the Ethereum network remains decentralized.

NEW DELHI : The Indian economy expanded 7.8% in the first quarter of the current fiscal year on higher government and private capital expenditure and strong services growth, official estimates released on Thursday showed. A Mint poll of 22 economists had estimated the growth in gross domestic product (GDP) at around 7.8%. In the fourth quarter of 2022-23, GDP growth stood at 6.1% against a 4.4% growth rate witnessed in the preceding three months, according to data from the National Statistics Office (NSO).

OKX, a global beacon in the crypto exchange and Web3 technology realm trusted by over 50 million users, and CoinRoutes, renowned for its algorithmic trading strategies and standing as a pinnacle in institutional-grade crypto trade Execution Management System (EMS), have announced the deepening of their collaboration. This OKX CoinRoutes collaboration aims to provide a comprehensive suite of API-enabled trading services, specifically tailored for the growing demands of institutional users.

Reliance Industries Ltd. “Asia Index Private Ltd recently announced that effective prior to the open of trading on Friday, September 01, 2023 , Jio Financial Services will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries," said the notice on BSE. The JFSL stock did not hit the lower circuit in the previous two trading sessions, and today's session saw the Jio Financial Services share price conclude 0.41% higher at ₹233.65 apiece on BSE.

Asian stock markets are mostly lower after Japanese factory activity and Chinese service industry growth weakened