BUSINESS
Fuel prices hit fresh record high, increase for 6th straight day
In the national capital, petrol price rose by 30 paise per litre and diesel was hiked by 35 paise per litre. The prices of petrol and diesel have crossed the Rs 100 per litre mark in many states, pinching the common man's pocket
With new highs round the corner, expect markets to remain choppy, volatile
What is clearly visible is that markets are currently finding support at levels of 58,500 followed by 58,200 and finally at 57,865 on the BSESESENSEX, and there is an area of resistance between 60,000 and 60,450 with the lifetime high being 60,412.32 points. Similarly on NIFTY, the areas of support are at 17,550, 17,330 and finally at 17,250 levels
Indian investors in the dark as cryptocurrency ads gather steam
Indian crypto players are bombarding people with advertisements across platforms -- doubling down on their marketing spend when the cryptocurrencies are yet to be accepted as legal tender and lack legal framework and regulatory norms in the country.
Situation to normalise in three-four days, Union Minister on coal crisis
The Union minister noted that despite adverse circumstances, country recorded highest coal production in October. He asserted that the price of coal in the international market has suddenly risen sharply, which resulted to reduction in import. While on the other hand heavy rains affected the domestic coal production significantly.
EPCs should aim for $450-$500 bn exports next year: Piyush Goyal
Addressing a mid-term review meeting with the heads of various EPCs, Goyal, the Union Minister of Commerce and Industry, pointed out that India's exports have bounced back, touching $197 billion in the first half of FY2021-22. Goyal said with 48 per cent targeted volumes achieved, "we are on the right track".
Reduction in cost to push e-2W's market penetration
"As e-mobility penetration is likely to be more in scooters, e-scooters sales as the overall percentage of total scooter sales would be much higher at 20-25 per cent," said India Ratings and Research (Ind-Ra). This growth, the agency expects, would majorly be driven by the reducing delta between the price of an electric vehicles (EV) and internal combustion engine (ICE) vehicles due to the increased subsidies under FAME-II scheme along with the newer model launches anticipated over the next few years.
OECD announces major tax reform deal for multinationals
Some 136 countries and jurisdictions have agreed to the reform, Xinhua news agency quoted the OECD as saying in its announcement on Friday. From 2023, a global minimum corporate tax rate of 15 per cent will apply to companies with revenues above 750 million euros ($870 million). It is estimated this will generate around $150 billion annually in additional global tax revenues, the OECD explained.
'Domestic oil prices on decline, mustard oil outlier'
"Necessary policy intervention by Central government with reference to duty reduction is proving to be beneficial for the general consumers," the government said in a release. "International prices of Soyabean oil, Sunflower oil, Crude Palm oil and RBD Palmolein increased by 1.85 per cent, 3.15 per cent, 8.44 per cent and 10.92 per cent respectively over the month.
India's forex reserves decline by over $1.16 bn
The Reserve Bank of India's (RBI) forex reserves declined to $637.477 billion from $638.646 billion reported for the week ended September 24. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs and the country's reserve position with the International Monetory Fund (IMF).
The making of J.R.D. Tata's legacy, which has come back home
Truly, the carrier that Jehangir (J.R.D.) Tata launched as Tata Airlines on October 15, 1932, which rose to become one of the leading airlines of the world named Air India International, was nationalised in 1953, and then got reduced to an ailing behemoth by successive governments after 1977, is finally back home, a year shy of its 90th anniversary.
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