BUSINESS
Worst is yet to come for global economy: Credit Suisse
"Overall, the economic environment for risk assets is deteriorating. Stagnating global industrial production, persistent cost pressures, and rising financing costs all suggest a prolonged period of low risk appetite," Credit Suisse said.
Prices of essential food items significantly spike
The prices of wheat and atta have gone up considerably in the last few months and as per traders in wholesale markets in the national capital, wheat rates have seen a spike crossing a record Rs 2,560 per quintal due to slower supplies and robust demand.
RBI repo rate hike: Not much of an impact on home loan borrower
"Though the RBI has been increasing the repo rate (RBI's lending rate to the banks) recently, not all the housing finance companies have passed the rate hike to their borrowers. Further the repo rate hikes are not passed on soon after the RBI announces the same," Alok Aggarwal, Managing Director, National Trust Housing Finance Ltd, told IANS.
No fuel at Delhi petrol pumps without PUC certificate from Oct 25
Gopal Rai said that a notification in this regard will also be issued soon. He said that a meeting of officials from environment, transport and traffic departments was convened on September 29 to discuss the implementation and modalities where it was decided to go ahead with the plan from October 25.
'Open court hearing on Oct 12', SC on SEBI's review petition against RIL
A bench headed by Chief Justice U.U. Lalit and comprising Justices J.K. Maheshwari and Hima Kohli said: "Considering the facts and circumstances on record and the submissions advanced in the review petition, we deem it appropriate to allow application for listing of the instant petition in open court. Let this review petition be listed in court on October 12, 2022."
Vedanta-Foxconn semiconductor plant leads India to usher in golden age for electronics
Many countries far-off have to pay a heavy price while some are able to deal in excesses of these chips, acting as middlemen in some cases. However, of late, a number of countries have been actively trying to lure companies into manufacturing the same on their soil to usher in a new era of electronics manufacturing and obtain seamless access to chips overall.
LIC Housing Finance increases lending rate by 50 bps
Commenting on this lending rate revision, MD & CEO Y. Viswanatha Gowd said: "Interest rate hike is in line with the prevailing market condition. We expect this trend to stabilise soon. We are taking care to price our products adequately so that the EMI outgo for our customers remains reasonable.
FEMA authority approves India's biggest seizure order of 5,551.21 cr against Xiaomi
The authority, while confirming the seizure order, held that foreign exchange equivalent to Rs 5,551.27 crore has been transferred out of India by Xiaomi India in an unauthorised manner, which is held outside India on behalf of the group entity in contravention of Section 4 of the Foreign Exchange Management Act, and the same is liable to be seized in terms of the provisions of Section 37A of FEMA.
App fraud: Fresh seizure of Rs 47.64 lakh by ED
With this fresh seizure, the total seized amount by both the ED and the Kolkata Police stands at little less than Rs 75.18 crore. The seizure process started on September 10, when ED sleuths seized cash worth Rs 17.32 crore from the residence of Naser Khan, the father of prime accused in the matter Amir Khan, at Shahi Astabal Lane in the city's Garden Reach area.
Eight core industries' growth slows to 9-month low of 3.3% in Aug
The previous low growth of 3.2 per cent was recorded in November 2021. Meanwhile the production growth of eight infrastructure sectors namely coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity was 9.8 per cent during April-August period of this fiscal, compared to 19.4 per cent in the year ago period, according to official data released on Friday.
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