BUSINESS
India's Oct wholesale price inflation rises to over 12%
The annual rate of inflation, based on wholesale prices, rose to 12.54 per cent last month from 10.66 per cent in September. Similarly, on a YoY basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over October 2020, when it stood at 1.31 per cent.
Union Finance Minister Nirmala Sitharaman interacts with CMs, FMs to step up investment, growth
The meeting was attended by the Chief Ministers of Assam, Chhattisgarh, Goa, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Tripura and Uttar Pradesh, along with the Lt Governors of Jammu and Kashmir, and Deputy Chief Ministers of Arunachal Pradesh, Bihar, and Delhi.
2 days after PM Modi's meet, parliament panel discusses crypto currency
After listening to the stakeholders' views, the majority of the members were of the opinion that the advent of digital currency is inevitable but it cannot go ahead without regulation. The Parliamentary panel, headed by former BJP MP Jayant Sinha met to discuss 'Hearing of views of Associations/Industry experts on the subject 'Crypto Finance: Opportunities and Challenges.'
India to step up oil exploration, production in very big way: Hardeep Puri
"As far as the government of India is concerned, we are going to step on the accelerator in terms of exploration and production in a very big way," Puri said after opening the India pavilion at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on Monday. India will double its oil and gas exploration acreage in the northeast part of the country.
Petrol, diesel prices remain static
Accordingly, petrol and diesel prices remained unchanged for 11th consecutive day under the daily price revision mechanism followed by oil marketing companies. The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on November 4, remained at the same level on Monday
Future Retail says Amazon misrepresented to CCI, seeks cancellation of FCPL deal
"We, as independent directors of Future Retail Limited (FRL), have inspected and examined the pre-contractual negotiation related records in connection with Amazon's investment in Future Coupons Private Limited (FCPL) which has been recently come to FRL's knowledge as part of court filing," the letter to CCI Chairman Ashok Kumar Gupta said.
Online payments during China's Singles' Day hit $3.48tn
Payment services were safe, efficient and convenient, and the scale of related business, as well as residents' consumption, increased steadily during the shopping festival, according to the central bank. The Singles' Day shopping festival was first initiated by Alibaba on November 11, 2009, and has since become one of the world's largest online shopping sprees.
Record high rates in US may put dent on Thanksgiving holiday
October's Consumer Price Index, which is a measure of a basket of goods, climbed a whopping 6.2 per cent from the same month last year, and now stands at a 30-year high, reports Xinhua news agency. The cost of staple food items -- meat, eggs, fish and poultry -- has soared 10.5 per cent for the year ended September 2021, reported the Bureau of Labour Statistics.
CLSA calls time on the 20-month rally in Indian equities
The CLSA said concerns range from elevated energy and broader in put price pressures applying downward pressure to margins, the current account balance and thus currency outlook, the withdrawal of RBI stimulus, and a lack of upside implied by Indian equities' typical macro drivers. Rich valuations, a high probability of earnings disappointment.
'Benign inflationary trajectory to likely delay interest rate normalisation'
The assessment comes after India's October retail inflation inched-up sequentially on the back of a marginal rise in food prices along with high fuel and commodity prices. Accordingly, data furnished by the National Statistical Office showed that Consumer Price Index (CPI) inched-up to 4.48 per cent last month from 4.35 per cent in September 2021.
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