BUSINESS
US will not unfreeze Afghan foreign assets
US's deputy minister of Finance Wally Adeyemo said that it is important to keep pressure on the Taliban, but added that the people of Afghanistan should not be harmed. Adeyemo said that new means must be sought in order to provide Afghan people with humanitarian aid.
IMF Chief Economist Gita Gopinath to return to Harvard University
Harvard University had extended Gopinath's leave of absence on an exceptional basis by one year, which has allowed her to serve as Chief Economist at the IMF for three years. In announcing Gopinath's intention to retire from the Fund, Georgieva stated: "Gita's contribution to the Fund and our membership has been truly remarkable, quite simply, her impact on the IMF's work has been tremendous.
Pakistan rupee tumbles to fresh all-time low
The Pakistani rupee on Wednesday tumbled to a fresh all-time low at Rs 173.50 against the greenback. The greenback gained 37 paise at the start of the trading day. On Monday, the rupee closed at Rs 172.72 against the US dollar. Rising demand for the US dollar is driving up its value despite a number of measures introduced by the State Bank to ease the pressure on the exchange rate.
Better performance for ASEAN markets compared to extremely expensive India: UBS
UBS has been underweight Chinese equities since summer 2020. A recovered economy and expensive market faced tighter monetary policy while the rest of the region offered better cyclical recovery prospects and more attractive valuations. UBS said the major thematic call from mid 2020 through mid 2021 was to overweight the cyclical markets.
Fuel rates hiked again, petrol at Rs 106.19 a litre in Delhi
The price of petrol in Delhi rose to its highest-ever level of Rs 106.19 a litre and Rs 112.11 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel now comes for Rs 102.89 a litre; while in Delhi, it costs Rs 94.92 a litre. The fuel prices remained static on Monday and Tuesday, but had risen for four straight days by 35 paise per litre each before (October 13-16).
IMF revises down Asia economy growth forecast to 6.5%
"The resurgence of the pandemic, amid initially low vaccination rates, slowed the recovery in the Asia-Pacific region, especially in emerging market and developing economies," Chang Yong Rhee, director of the IMF's Asia and Pacific Department was quoted as saying by Xinhua news agency.
After Tanishq, Fabindia forced to withdraw advertisement
Ironically, the collection which paid homage to Indian culture received criticism from senior BJP leaders who accused the brand of 'Abrahamisation' of the Hindu festival of Diwali by using an Urdu term. As per the company 'Jashn-e-Riwaaz' stands for a celebration of rituals or festive celebrations.
RRVL acquires 52% equity stake in luxury design house Ritu Kumar
The coming together aims to explore untried interpretations of India's crafts and textiles that take the story of the country's artisanal culture beyond existing ideas in couture and fashion. The Ritu Kumar business includes four fashion brand portfolios that cumulatively retail out of 151 points of sales globally.
India will produce the cheapest hydrogen in the world: Gautam Adani
He also suggested that a collaborative approach was needed wherein developed nations, which have emitted more greenhouse gases over time, shoulder greater responsibility and propose policies and targets that fairly address the needs of the developing world.
Microsoft most imitated brand of all phishing attacks: Report
According to CPR, social was among the top three sectors to be imitated in phishing attempts, with WhatsApp, LinkedIn and Facebook all appearing in the top 10 list of most imitated brands. In a brand phishing attack, criminals try to imitate the official website of a well-known brand by using a similar domain name or URL and web-page design to the genuine site.
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