BUSINESS
Days after old policy implemented, Delhi faces premium liquor brand crisis
Private liquor shops were shut and the Delhi government vends were opened from September 1 as the city returned to the old liquor policy. However, the city is experiencing massive shortage of both imported and Indian premium brands of alcohol. "We are unable to provide the liquor of some specific premium brands to the customers as we are not getting it from the back and resultantly, lot of customers go empty handed," said an outlet manager of East Delhi to IANS.
US Fed delivers another big interest rate hike
The 0.75 hike was the fourth in 2022. "We have got to get inflation behind us. I wish there were a painless way to do that," Fed Reserve Chairman Jerome Powell said. "There isn't".
Adani Transmission to become net-zero by 2050
As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius.
Indices end lower on caution ahead of US Federal Reserve policy announcement
At close, Sensex ended down 262.96 points or 0.44 per cent at 59,456.78, while Nifty closed 97.90 points or 0.55 per cent at 17,718.35. About 2175 shares declined, 1,283 shares advanced while 129 shares remained unchanged on Wednesday. IndusInd Bank, Power Grid Corp and Ultratech Cement were among major losers on the Sensex.
SEBI Chairperson Buch lists core principles that guide regulators
Delivering the keynote address at the Global Fintech Fest 2022 here, Madhabi Puri Buch said: "There is likely to be a regulatory gap when there is something new and innovative that happens in the market. It is up to the regulator to keep pace with that. Our intention is to narrow that regulatory gap in the startup ecosystem."
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Rupee ends 23 paise down ahead of Fed policy announcement
At Interbank foreign exchange market, rupee ended at 79.98 as against 79.75 close on the previous trading session against the US dollar. "The rupee closed at a record low following broad-based strength in the greenback and risk-averse moods. The dollar appreciated against major currencies ahead of an expected interest-rate hike by the Federal Reserve and as Russia's escalation of war enervated investors' appetite for risk," said Dilip Parmar, Research Analyst at HDFC securities.
RIL in driver's seat in $ 74 bn green hydrogen opportunity
RIL's green hydrogen foray is part of its Net Carbon Zero target by 2035. Falling renewable cost and scale economics will lower green hydrogen cost. Given the capex intensity, RIL's strong balance sheet and backward integration puts it in the driver's seat in the US$ 74 billion opportunity, foreign brokerage, Jefferies said in a report.
India's Rs 1,000 Cr rich club grows, teen entrepreneur makes debut
"Cumulative wealth has increased by 9.4 per cent, while average wealth has decreased by 1 per cent. 602 individuals saw their wealth increase or stay the same, of which 149 are new faces, whilst 415 saw their wealth drop and there were 50 dropouts," as per a statement issued by IIFL Wealth and Hurun India.
ITC Hotels add 5 more properties as brand Storii expands
Popular leisure destinations Goa, Dharamshala, Solan, Sirmour and Kufri are the frontliner destinations for Storii with Storii Goa and Storii Dharmashala already opening doors to guests. With the recent openings at Goa and Dharamshala, the ITC HOTELS Group now has its 5th property in Goa and its 12th hotel in Himachal Pradesh.
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