Economy news

• Google CEO on reports of anti-trust probe in US

  15-06-2019 15:11 via timesofindia.indiatimes.com
  Google's CEO Sundar Pichai has said that it is "perfectly fine" for big companies to be scrutinised but cautioned against doing it just "for the sake regulating" them. Pichai made the comments after reports emerged that Google's search business and advertising may come under scrutiny during the potential anti-trust violations probe by the US Department of Justice.
  
  Read more

• Nagarro's revenue hits 1 billion dollar mark

  16-04-2024 23:40 via timesofindia.indiatimes.com
  
  Nagarro's revenue hit $1 billion in FY23, with 9.4% growth. Co-founded in 1996, it employs 18,000 globally, focusing on automotive, healthcare, and financial services, mainly in India.
  
  Read more

• RBI introduces fresh guidelines for online payment merchants

  16-04-2024 23:34 via timesofindia.indiatimes.com
  
  RBI tightens scrutiny on online payment sector, introducing new guidelines with varying due diligence levels for merchants. Payment aggregators must track merchant-employed agents. Data storage restrictions start Aug 1, 2025.
  
  Read more

• IMF raises India's growth forecast

  16-04-2024 23:31 via timesofindia.indiatimes.com
  
  IMF raised India's GDP growth forecast to 6.8%. Global economy to grow at 3.2%. Challenges include inflation, supply-chain disruptions, energy crisis, and Russia's war on Ukraine. Gourinchas advises policymakers on resilience, govt finances, and growth.
  
  Read more

• Advertisement

• Sensex falls for third day over foreign funds' selloff

  16-04-2024 23:25 via timesofindia.indiatimes.com
  
  Foreign funds' selling led to Sensex drop amid global tensions and mixed China data. FPIs dominated selling, impacting Nifty. IT stocks like Infosys, Wipro fell. Uncertainty persists with Iran-Israel tension and Jerome Powell's speech awaited.
  
  Read more

• Why rupee is weak when stocks are strong

  16-04-2024 23:21 via timesofindia.indiatimes.com
  
  Dollar's strength from US economy boosts interest rate expectations. Rupee weakens due to geopolitical tensions and high oil prices, impacting foreign investments. Positive outlook for rupee with enhanced balance of payments and low current account deficit expectations for FY24.
  
  Read more

• Zee withdraws Sony merger plea at NCLT

  16-04-2024 23:18 via timesofindia.indiatimes.com
  
  Zee withdraws merger app against Sony, pursuing $90M claim in Singapore arbitration. Spent Rs 367 crore on failed deal. Focuses on cost-cutting measures like workforce rationalization, MD's pay cut amid industry consolidation concerns.
  
  Read more

• India Inc votes to punch in at polling booths

  16-04-2024 23:15 via timesofindia.indiatimes.com
  
  Corporate India ensures voting participation by offering paid time-off. Private companies facilitate voting with holidays and travel policies. Various firms prioritize voting rights and awareness. Analysts cite market closures to facilitate voting requirements.
  
  Read more

• Advertisement

• Higher the Covid toll, greater the faith in gold

  16-04-2024 23:13 via timesofindia.indiatimes.com
  
  Gold savings increased in Covid vulnerable districts, while financial assets decreased. Poorer households allocated more to gold. Higher financial access reduced gold allocation. 'Flight to safety' trend seen. Insights from International Review of Economics & Finance and RBI report.
  
  Read more

• Rupee hits new low of 83.54 per dollar as global tensions mount

  16-04-2024 23:06 via timesofindia.indiatimes.com
  
  Rupee closed at 83.54 against the dollar, Asian currencies weakened. Dollar index rose. Geopolitical tensions impact currency markets. Analysts predict RBI rate cuts delayed due to rupee fall.
  
  Read more

• Delhi Traffic Update: Sarita Vihar Flyover To Remain Close For 60 Days; Follow These Alternate Routes

  16-04-2024 18:43 via zeenews.india.com
  
  PWD officials informed that the flyover maintenance work will be carried out on the carriageways in four phases, it will start on May 1 and end on June 30 to ensure at least half a lane is open to traffic.
  
  Read more

• Paytm Clarifies Licensing Process Status Amid Speculations, Says Govt Champions Fintech

  16-04-2024 17:08 via zeenews.india.com
  
  Recent media reports speculated on the deferral of Paytm Payment Services Limited’s (PPSL) license application and potential penalties. 
  
  Read more

• CBDT signs record number of 125 Advance Pricing Agreements in fiscal 2023-24

  16-04-2024 16:37 via timesofindia.indiatimes.com
  
  CBDT signed a record 125 APAs in FY 2023-24, marking the highest ever signings. BAPAs with various countries were also signed. The program aims at resolving transfer pricing disputes and avoiding double taxation.
  
  Read more

• India's unemployment rate to decline by 97 basis points by 2028: ORF report

  16-04-2024 15:10 via timesofindia.indiatimes.com
  
  India's unemployment rate is expected to drop by 97 basis points by 2028, as per a recent report by the Observer Research Foundation (ORF). The India Employment Outlook 2030 report forecasts a decrease from 4.47 percent in 2024 to 3.68 percent in 2028, aligning with India's push towards the USD 5 trillion milestone. The report highlights that India's job market is evolving, boosted by the country's rapid economic growth post the Covid-19 pandemic.
  
  Read more

• Tesla’s Senior Vice President Drew Baglino Resigns Amid Job Cuts

  16-04-2024 14:42 via zeenews.india.com
  
  Baglino comes with 18 years of experience and has been part of Tesla since 2006. 
  
  Read more

• Business Success Story: From Threads To Towers, The Remarkable Journey Of Irfan Razack, Bengaluru Tailor Turned Billionaire Real Estate Magnate

  16-04-2024 14:05 via zeenews.india.com
  
  After passing out from IIT-M, he could have easily got a high-paying job in an MNC. However, he set his sights on passing the highly-sought UPC exam.
  
  Read more

• What is a gift deed? Some simple points for easy understanding

  16-04-2024 13:30 via timesofindia.indiatimes.com
  
  Gift deed in India facilitates secure asset transfer with legal recognition. Registration under Transfer of Property Act is vital. Donor's intent and recipient's signature are essential. Consider tax implications for exemptions.
  
  Read more

• Microsoft Invests $1.5 Billion In UAE-Based AI Company G42

  16-04-2024 13:07 via zeenews.india.com
  
  G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa. 
  
  Read more

• Wipro CEO Srinivas Pallia sold all his shares in IT giant for Rs 5 crore weeks before taking charge

  16-04-2024 12:56 via timesofindia.indiatimes.com
  
  Srinivas Pallia, the newly appointed CEO of Wipro, sold all his shares worth Rs 5 crore in a significant transaction before taking on the top position. The company declined to comment on the matter, citing a silent period ahead of its quarterly and annual results announcement.
  
  Read more

• Elon Musk-led Tesla's global job cuts to hit China sales team: Report

  16-04-2024 12:32 via timesofindia.indiatimes.com
  
  Tesla's China job cuts due to sales decline in EV market competition. Analysts link layoffs to cost pressures. BYD's new models impact global deliveries, leading to price war.
  
  Read more

• Zomato Introduces India’s First 'Large Order Fleet' For Gathering Up To 50 People

  16-04-2024 12:23 via zeenews.india.com
  
  Goyal explained that earlier, Zomato's large orders were fulfilled by several different delivery partners which led to a less than satisfactory customer experience.
  
  Read more

• Is Aadhaar mandatory for investment in small savings schemes such as Senior Citizen Savings Scheme, PPF, NSC, Sukanya Samriddhi Yojana?

  16-04-2024 12:03 via timesofindia.indiatimes.com
  
  Small Savings Schemes like PPF, SCSS, SSY have strict documentation rules including Aadhaar & PAN submission. Non-compliance can render accounts non-operational. SEBI RIA stresses the importance of timely updates for smooth operations.
  
  Read more

• Tracking mobile frauds with caller ID: Soon, your network provider will warn you about scam calls - here's how

  16-04-2024 11:51 via timesofindia.indiatimes.com
  
  India is set to take strict actions against online and phone frauds with the establishment of a National Cyber Security Agency (NCSA) and the implementation of Calling Name Presentation (CNAP) service to combat fraudulent calls.
  
  Read more

• Morgan Stanley Does Not Expect RBI To Go For A Rate Cut In 2024-25

  16-04-2024 11:40 via zeenews.india.com
  
  India's key policy rate is expected to be steady at 6.5 per cent in 2024-25 while real rates should average 200 basis points, according to Morgan Stanley.
  
  Read more

• Ram Navami holiday 2024: Are Indian stock markets BSE Sensex, Nifty50 closed on April 17?

  16-04-2024 11:38 via timesofindia.indiatimes.com
  
  BSE and NSE will be closed on April 17 for Ram Navami and April 11 for Eid-Ul-Fitr. MCX and NCDEX will also be closed. Muhurat Trading will happen on Diwali. Indices showed mixed performance in March.
  
  Read more

• Supreme Court appreciates Indian Railways for installation of 'Kavach' anti-collision system in trains

  16-04-2024 11:06 via timesofindia.indiatimes.com
  
  Praise for Indian Railways Kavach system: The court had agreed to hear the PIL on implementation of ‘Kavach’ and had asked the Centre to brief it on steps taken or proposed to be taken for putting in place anti-collision systems to prevent train accidents.
  
  Read more

• Ram Navami 2024 bank holiday: Banks to remain closed on April 17 for Ram Navami in several states; check list

  16-04-2024 11:01 via timesofindia.indiatimes.com
  
  Indian banks to close on April 17 for Ram Navami, with upcoming elections affecting banking operations in various states. ET report details additional holiday closures in different regions.
  
  Read more

• India Allows 10,000 Tonnes Of Onion Export To Sri Lanka, UAE

  16-04-2024 10:04 via zeenews.india.com
  
  This brings the total amount of approved onion exports from India to 79,160 tonnes, surpassing the ban on shipments imposed in December 2023. 
  
  Read more

• Soon you may be able to tip in rupees in Thailand! RBI, government look to popularise use of Indian currency

  16-04-2024 09:44 via timesofindia.indiatimes.com
  
  India and Thailand may be exploring a currency deal to promote the use of the rupee in the South-East Asian country. Promoting the local currency through bilateral swap deals with different countries was a strategy employed by China to make the yuan more widely accepted.
  
  Read more

• Sensex Down More Than 300 Points As Geopolitical Concerns Weigh

  16-04-2024 09:06 via zeenews.india.com
  
  The economic factor is the rising US bond yields which reduces the prospects of rate cuts by the Fed this year. 
  
  Read more

Follow @India_Economy_ on Twitter!