Tuesday, Mar 19, 2024 | Last Update : 08:30 AM IST

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Economy

Union Minister for Finance Nirmala Sitharaman and Kristalina Georgieva, Managing Director, International Monetary Fund in Washington D.C. (pib.gov.in)

Nirmala meets IMF chief; discusses impact of geopolitical situation on global growth

IMF chief highlighted India's well-targeted policy mix which helped the country's economy remain resilient even with a limited fiscal space

 Finance Minister Nirmala Sitharaman chairs the GST Council meeting, in Chandigarh, Tuesday, June 28, 2022. (PTI Photo)

GST Council puts off compensation decision till August

A final decision is likely to be taken at the next meeting of the council in the first week of August

RBI Governor Shaktikanta Das. (PTI Photo)

RBI hikes benchmark lending rate by 35 basis points to tame inflation

This is the fifth consecutive rate hike after a 40 basis points increase in May and 50 basis points hike each in June, August and September

In 2020, the government had infused Rs 12,000 crore in some companies which are holding about 40 per cent market share in the general insurance space. Representational Image. (PTI)

Insurers pruning branch networks

The government's focus has now shifted more towards consolidation and profitability than expansion, and hence, the restructuring exercise

Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the second part of Budget Session of Parliament, in New Delhi, Friday, March 25, 2022. (PTI photo)

Lok Sabha passes Finance Bill

The Union Budget 2022-23 had proposed taxing crypto assets at the rate of 30 per cent, effective from April 1

Market

Sensex closed 476 points or 0.82 per cent up at 58723.20 points. (Photo: PTI/File)

Relief packages buoy stock market

The Nifty-50 closed above 17500 for the first time as it gained 139.45 points or 0.80 per cent to close at 17519.45

The SCRR rules restrict all members from engaging, either as principal or employee, in any business. (File Photo)

Brokers can’t sell digital gold, NSE says

The direction came after the Sebi said certain members are providing a platform to their clients for buying and selling digital gold

The BSE benchmark Sensex dived 617.26 points or 1.08 per cent to end at 56,579.89. During the day, it plummeted 840.28 points or 1.46 per cent to 56,356.87. (Representational Photo: PTI)

Sensex slumps 617 pts; Nifty falls below 17,000

Asian markets in Tokyo, Hong Kong, Seoul and Shanghai settled significantly lower

The increase in fuel inflation despite government measures to curb domestic petrol and diesel prices taken a few months ago, is a concerning factor. — DC File Image

Inflation falls for 3rd month

There has been a marginal slowdown in output in almost all the segments, including manufacturing

Companies

A woman walks past the logo for Google at the China International Import Expo in Shanghai. (Photo: AP)

Google to invest USD 1 bn in Airtel; to buy 1.28 per cent stake for USD 700 mn

Google made the investment as part of its Google for India Digitization Fund

Amazon, which is trying to block Asia’s richest man Mukesh Ambani from taking over the struggling Future retail chain, alleged last week that money from the local firm may have been diverted to other companies. (Bloomberg)

India’s anti-money laundering agency summons Amazon

We are in receipt of summons issued by the ED in connection with the Future Group, an Amazon spokesperson said

The LIC IPO would be the biggest IPO in the history of Indian stock market. (Photo: PTI)

Sebi approves LIC draft papers; clears decks for mega IPO

The IPO is offer for sale (OFS) by Government of India and there will be no fresh issue of shares by LIC

Vikram Pawah, president BMW India (Photo by arrangement)

BMW bullish on expanding Indian luxury market

BMW, IIndia's second largest German luxury car maker, is targeting strong double digit growth this year

Amazon is hiring workers to help run 100 logistics facilities launching this month in the United States, on top of more than 250 that opened earlier this year. (AFP Photo)

Amazon boosts hourly pay to over $18, to hire 125,000 workers

Amazon did not give exact figures, but a $1 raise on a $17-per-hour wage would amount to about a 6% hike

Autos

 Hydrogen champion Hyundai races to electric as Tesla takes off. (AFP Photo)

Hyundai vs Tesla: Hyundai race to produce electric cars as Tesla takes off

No traditional automaker has been successful yet in catching up with Tesla, which retains an edge in battery and software technology

 Ashok Leyland resumes production. (PTI Photo)

Ashok Leyland resumes production across India

The commercial vehicle major will be ensuring all the necessary health and safety protocols with regard to COVID-19 in its facilities

 India's car sales plunge. (PTI)

India's car sales plunge amid lockdown

Government last week sent India into a 21-day lockdown to try to curb the spread of the virus, forcing automakers to suspend manufacturing

 BMW losses almost $800 million as sales slide during lockdowns. (AFP Photo)

BMW records first loss since 2009 as pandemic hits sales

The company reported an operating loss of 666 million euros, compared with an operating profit of 2.1 billion euros in 2019

In Other News

 IndiGo announces 'deeper' pay cuts of up to 35 per cent for senior employees. (AFP Photo)

IndiGo slashes pay up to 35% for senior employees

From May onwards, IndiGo had implemented pay cuts of up to 25 per cent for its senior employees

 Prime Minister Narendra Modi during the virtual signing ceremony of India-Australia Economic Cooperation and Trade Agreement. (PTI)

India, Australia ink trade pact, Modi calls it 'historic moment'

Tariffs on goods of both countries to be removed or reduced

Mukesh Ambani (AFP)

Mukesh Ambani buys Dubai's costliest home ever for his son

The beach-side mansion sits in the northern part of Palm Jumeirah and has 10 bedrooms, a private spa, and indoor and outdoor pools

The business-to-business meetings will enable participants to identify opportunities for future collaboration, research and innovation, and facilitate the expansion of trade and investment. (Image credit: Facebook)

Largest UK delegation expected at Bengal Global Business Summit

The UK, in collaboration with the Bengal Chamber of Commerce and Industry, will facilitate business-to-business meetings during the summit

Union Finance Minister Nirmala Sitharaman speaks during her interaction with a group of Indian-overseas scholars and students from various US universities in Washington DC, USA  (PTI)

Coal is going to be back again as gas becoming unaffordable: FM Sitharaman

Russia has sharply curtailed natural gas shipments to Europe in retaliation for sanctions that the West put in place after Ukraine invasion