G7 fails to reach intervention deal to ease pain of soaring dollar

Japan and other countries facing the fallout from a soaring US dollar found little comfort from last week’s meetings of global finance officials, with no sign that joint intervention along the lines of the 1985 “Plaza Accord” was on the horizon. With a strong push from Japan, finance leaders of the…

Rupee falls 5 paise to 82.29 against US dollar

The rupee after opening on a positive note, pared the gains and slipped 5 paise to 82.29 against the US dollar amid high volatility in early trade on Friday. At the interbank foreign exchange, the domestic unit opened at 82.26 against the dollar, then touched 82.12, registering a gain of 12 paise over its previous…

Gold, silver prices today: Yellow metal records dip, silver rates jump on MCX

After trading on the higher side the previous day, gold and silver prices were mixed in Indian markets today. On Friday, October 14, 2022,gold prices have recorded a dip while silver rates are retailing on the higher sideof the Multi Commodity Exchange (MCX). Witnessing a marginal dip of Rs 44 or 0.09 per…

India’s direct cash transfer scheme a ‘logistical marvel’, says IMF

The International Monetary Fund (IMF) deemed India’s deployment of a direct cash transfer scheme and other social welfare programmes as a ‘logistical marvel’. Speaking to the media on Wednesday, an IMF official said that the Indian social welfare programmes were impressive as they reach…

Markets settle higher for 2nd day; Nifty jumps over 1 per cent

Equity indices ended higher for the second straight session on Tuesday, with the Nifty rallying over 1 per cent, helped by across-the-board buying and recovery in the US and Asian markets. Foreign fund inflows also added to the momentum. The 30-share BSE Sensex climbed 578.51 points or 0.98 per cent to settle at…

Google backed into a corner as India, US and EU seek to take away its monopoly

Tech giant Google is under fire as several authorities across the world seek to dethrone its monopoly rule. Recently, it suffered a major setback after a European Union(EU) court upheld the EU’s antitrust fine of $4.12 billion. Google was fined for allegedly putting in place strategic restrictions on Android phone…

Shell set to install over 10,000 electric vehicle charging points across India

Shell plans to set up over 10,000 electric vehicles (EV) charging points across India by 2030 as it joins the electric mobility bandwagon to cut vehicular emissions. Shell, which operates 327 out of the 83,888 petrol pumps in the country, launched its first EV chargers in India, for the four-wheeler and two-wheeler…

Moody’s retains India rating, says rising global challenges…

Global challenges including the impact of the Russia-Ukraine conflict, higher inflation and tightening global financial conditions are unlikely to derail India’s economic recovery from the pandemic, rating agency Moody’s said on Tuesday. Moody’s Investor Service retained its sovereign rating on India…

OTT platforms may upend multiplexes’ run soon, set to be a Rs 12,000-cr industry by 2023

According to SBI Research, the over-the-top or OTT market is expected to reach Rs 11,944 crore by 2023, up from Rs 2,590 crore in 2018, logging in a compound annual growth of 36 per cent. This may lead to a repeat of the sudden death of the VCR/VCP/DVD industry that boomed in the 1980s, with the exponential rise of…

PNB launches pre-qualified credit card, overdraft facility against fixed deposits

State-owned Punjab National Bank (PNB) on Monday announced the launch of its pre-qualified credit card with a host of features, including insurance coverage. This facility will be available for salary account customers and they shall be able to apply through the mobile banking app PNB One, website or Internet Banking…