BUSINESS
Amid rising prices, monetary policy may keep inflation expectations firmly anchored: RBI Bulletin
The RBI's monthly bulletin for September 2022, in its chapter on the "State Of Economy" has said that the loss of momentum in global economic activity may be taking the edge off inflation. At the same time, it noted that the economy is poised to shrug off the modest tapering of growth momentum in the first quarter of 2022-23.
British pound slumps to a 37-year low
The UK currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that retail sales in August dropped 1.6 per cent month-over-month, the biggest decline since December 2021 and significantly worse than economists had expected, CNN reported.
Samsung expects 45% sales growth in consumer electronics in festive season
Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India, told IANS that across its consumer electronics portfolio, "we are expecting a growth of 80 per cent in the premium segment". "Consumers are back in stores and the festive buying sentiment along with upgrade trend is at an all-time high. We have doubled our retail investment to enhance the shopping experience of our consumers," he added.
Share EY's rejig report, demands PSU non-life insurance unions
The companies are: The Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited and United India Insurance Company Limited.
RBI likely to increase repo rate by 50 basis points to 5.9% in Sep policy: Morgan Stanley
The inflation which is ranging above the upper tolerance band of the Reserve Bank of India (RBI) for the eighth straight and therefore Morgan Stanley too expect inflation to remain sticky around 7.1-7.4 per cent in September as well, driven by increases in food prices as per high frequency food price trend.
France confers top civilian award on scientist-industrialist Dr Swati Piramal
The highest French civilian award is in recognition of "Dr Piramal's outstanding achievements and contributions in the fields of business and industry, science, medicine, arts and culture, both nationally and internationally", and was conferred on behalf of French President Emmanuel Macron.
App loan fraud: ED recovers documents, seizes Rs 46 cr of Payment Gateways
The operation was conducted at six business, residential premises in Delhi, Ghaziabad, Mumbai, Lucknow, Gaya and 16 other premises of Banks, Payment Gateways branches, offices in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and Bengaluru.
Now get iPhone 14 within minutes via Blinkit in India
On the microblogging site Twitter, Albinder Dhindsa of Blinkit said that this service is currently available in Delhi, Gurugram and Mumbai. "We have partnered with @UnicornAPR to bring Apple iPhone and accessories to Blinkit customers within minutes," Dhindsa wrore on Twitter.
Indices trading down; Sensex falls over 1,000 points
At 2.10 p.m., Sensex was down 1050.03 points or 1.75 per cent at 58,883.98, and Nifty was trading 326.56 points or 1.83 per cent lower at 17,550.85. Mahindra & Mahindra, Tech Mahindra, Ultratech Cement, TCS, Infosys, Wipro were major losers during the afternoon trade on Sensex.
IRCTC causing loss to exchequer by not issuing invoice: Tax consultant
In a letter to Union Finance Minister Nirmala Sitharaman, Chandigarh-based tax consultant Ajay Jagga said the Supreme Court recently issued notices to the Central government on a plea seeking to plug existing loopholes in the GST system.
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