BUSINESS
Zomato's 'War Room' Manages Order Surge with a Massive Fleet of Over 3.2 Lakh Delivery Personnel
With a note of appreciation, Goyal highlighted the significant role of the 3.2 lakh+ delivery partners from Zomato and Blinkit, mentioning, "Thank you for helping the nation celebrate."
Arvind Panagariya Named Chairman of 16th Finance Commission by Centre
This commission has a pivotal role in proposing the distribution of net tax proceeds between the Union and the states, as well as allocating shares of these proceeds among the states.
Boeing 737 Max Fleet Under Safety Scrutiny as International Alert Spurs Indian Airline Checks
The advisory was prompted by an inspection during routine maintenance by an undisclosed international airline, revealing a missing nut on a bolt.
Shift in Global Dynamics: US Dollar Witnesses Decline in Dominance
While the US dollar remains the dominant reserve currency globally, the euro comes second, with its share sliding to 19.6%. The Japanese yen's proportion of world reserves grew slightly to 5.5%, while the Chinese yuan, British pound, Canadian dollar, and Swiss franc saw minimal changes in their shares.
Indian Economy Poised to Remain a 'Star Performer,' Key Indicators Favor Growth
Over the last month, the macroeconomic scenario has shifted in favor of the equity market, with positive indicators suggesting a promising start for 2024. A correction of 110 basis points in US bond yields is also contributing to the positive market sentiment.
Drop in global prices a relief for oil import-dependent Indian economy
Volatile oil prices pose a downside risk to the economy as costlier imports trigger an increase in domestic inflation and weaken the rupee as more US dollars are required to make import payments.
India's external position resilient despite pessimistic global trade outlook
The outlook for 2024 remains "highly uncertain and generally pessimistic", UNCTAD says in the Global Trade Update released on December 11, citing factors like ongoing geopolitical tensions, escalating debt, and widespread economic fragility.
Indian banks to see 'moderate growth' in deposits, 'deceleration in credit'
Speaking to IANS, Hajra also anticipates a moderate acceleration of deposit growth and a deceleration of credit growth in 2024 relative to 2023, which will result in a system-wide reduction in the credit deposit ratio. The sector will also experience a moderate decline in the net interest margin next year.
Commodities story to revolve around geopolitics, polls, rate cuts, global slowdown
He said the coming year will see 78 elections across the world, over half of which will choose a new president which will likely bring changes in the monetary policies of major economies, keeping inflation down.
India Takes Center Stage in IPOs in 2023, According to Report
A significant factor contributing to this divergence was the disappointment in China's post-Covid recovery. Hong Kong's Hang Seng Index (HSI), tracking 80 blue-chip stocks, experienced a 13.8% decline in 2023, marking its first four-year losing streak since its inception in 1969.
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