BUSINESS
Eurozone inflation hits 10.7% in October
Driven mainly by increasing energy prices, October's year-on-year inflation rate is expected to climb to 10.7 per cent in the eurozone, from 9.9 per cent in September, Xinhua news agency reported citing the estimate released on Monday as saying.
RBI to launch digital rupee pilot project today
The central bank further informed that "the first pilot in Digital Rupee - Retail segment (ea,-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants. The details regarding operationalisation of ea,-R pilot shall be communicated in due course".
Elon Musk is Twitter CEO as company braces for deeper layoffs
Musk earlier tweeted that he has "no idea" who the CEO of Twitter is, the latest US Securities and Exchange Commission (SEC) has revealed that Musk is now the sole "reporting Person" at Twitter. The "Reporting Person" is the Chief Executive Officer of the post-merger Company.
RBI imposes Rs 5 lakh penalty on LIC Housing Finance
"This penalty has been imposed in exercise of powers vested in the RBI under the provisions of clause (b) of sub-section (1) of section 52A read with clause (aa) of sub-section (3) of section 49 of the National Housing Bank Act, 1987 (NHB Act)," a statement issued by the RBI said.
'US market impact for Sensex to cross 60K'
"The ongoing rally which has taken the Sensex above 60,000 has been triggered mainly by the rally in the mother market US where the Dow has recorded four straight weeks of gains," Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Software-as-a-Service firm Icertis raises $150 million to boost contract lifecycle management biz
Icertis said that the funds will enable it to further extend the company's leadership position in the Contract Lifecycle Management (CLM) category by accelerating the application of transformational technologies like artificial intelligence, machine learning, and Blockchain to deliver material, unique, and consequential value to customers.
Government's receipts totalled Rs 12,03,748 crore till September
According to official data, non-debt capital receipts consists of recovery of loans of Rs 9,597 crore and miscellaneous capital receipts of Rs 24,590 crore. An amount of Rs 3,76,106 crore has been transferred to state governments by the Centre till September 2022. In addition to this, devolution of share of taxes by the government upto September was Rs 1,15,960 crore, which is higher than the previous year.
Core sector output grew 7.9% in September
According to the index of eight core industries data released on Monday, the production growth of eight infrastructure sectors was 9.6 per cent during April-September period of the current fiscal, compared to 16.9 per cent growth in the corresponding period of last year.
RBI's board reviews economic scenario
The RBI board deliberated on the challenges faced by the country owing to the prevailing geo-political scenario. "The 598th meeting of the central board was held under the chairmanship of Governor Shaktikanta Das. The board in its meeting reviewed the current economic situation, global and domestic challenges including the overall impact of current global geopolitical crises," the RBI said in a statement.
Petrol, Diesel prices to be cheaper from today
On Monday, the cost of petrol in the national capital was Rs 96.72, Rs 106.03 in Kolkata, Rs 106.31 in Mumbai and Rs 102.63 in Chennai. The drop in prices was expected as international crude oil prices dropped and have remained stable for some time. The crude oil price has remained below 95 dollars per barrel for some time now.
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