Business

Over Rs 1.25 lakh crore sale for retail traders this festive season


New Delhi: From the day of first Navratri September 26 and till October 23, business of more than 1.25 lakh crore has already taken place in the country, Confederation of All India Traders (CAIT) said. On the call of CAIT this year, the traders celebrated the festival as "Apni Diwali - Bhartiya Diwali" with all...

Risk to India’s Sovereign Rating from external pressures ‘limited’


New Delhi: The risk to India's sovereign rating from external pressures is limited, said Fitch Ratings. In its latest report, Fitch Ratings said India's external buffers appear sufficient to cushion risks associated with the rapid monetary policy tightening in the US and high global commodity prices. "External finances are becoming less of a strength in India's...

US inflation data raises questions about Fed’s interest rate hikes


Washington: A fresh round of US inflation data released last week showed persistently high prices, raising more questions about whether the Federal Reserve’s interest rate hikes are missing what many economists contend are the real inflationary culprits: corporate pricing, energy costs and supply chain disruptions, The Guardian reported. The news is further stirring fears of...

US facing ‘very, very serious’ mix of headwinds: JP Morgan chief


New York: The US and global economy is facing a "very, very serious" mix of headwinds that is likely to cause a recession by the middle of next year, warned Jamie Dimon, chief executive of JP Morgan Chase, the largest American investment bank. Dimon pointed to the effects of runaway inflation, sharp interest rate rises...

IMF cuts India’s GDP projection to 6.8% in 2022-23


New Delhi: The International Monetary Fund (IMF) has slashed India's economic growth projection in 2022-23 to 6.8 per cent. Earlier, in July, it had projected a growth of 7.4 per cent for India in the current financial year. Reasons like contraction in the US economy in the first half of 2022, a fall in Euro, lockdowns...

G20 has a great potential to work towards global good: Sitharaman


Washington: Union finance minister Nirmala Sitharaman said the G20 has immense potential to work towards the “global good”, emphasising the need to strengthen existing multilateral institutions and affirmed India’s commitment to third-generation reforms that are being implemented. Sitharaman, who was in the United States to attend the annual meetings of the International Monetary Fund and...

Fresh threats to Mukesh Ambani and family


Mumbai: Fresh death threats were made on Wednesday to billionaire industrialist Mukesh Ambani and his family members, and to blow up Sir H. N. Reliance Foundation Hospital in south Mumbai. Calls were received at the HNRF Hospital's call centre at 12.57 p.m. and at 5.04 p.m. warning to blow up the hospital building, said an...

Hardeep Puri to lead business delegation to US


New Delhi: India’s Petroleum and Urban Development Minister Hardeep Puri will lead an official and business delegation to Washington DC and Houston between October 6 and 11. In Washington DC, Puri will co-chair the Ministerial dialogue of US-India Strategic Clean Energy Partnership (USISCEP) to be held October 7 with US Secretary of Energy Jennifer Granholm. The...

PM Modi launches 5G services in India


New Delhi: As Prime Minister Narendra Modi launched 5G telephony services, India ushered in an era of ultra high-speed Internet. Addressing the gathering in the presence of industry leaders including Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited; Sunil Bharti Mittal, Chairman, Bharti Enterprise; Kumar Mangalam Birla, Chairman, Aditya Birla Group and others, the...