GDP growth may more than halve to 6.3% in July-September, finds poll

India's Gross Domestic Product (GDP) growth is expected to more than halve to 6.3 percent in the second quarter of 2022-23 from the first quarter. The Indian economy had grown by 13.5 percent in April-June – the second-highest quarterly growth rate India has ever clocked. The statistics ministry is scheduled to release GDP data for July-September.
#Indian #India #News #Business #Economy

10 hours ago

Global oil market signals short-term weakness ahead of EU ban on Russian oil

Oil prices in the last week have traded weaker than future-dated contracts. Front-month U.S. Crude futures contract traded as low as 38 cents weaker than the second-month contract, the weakest differential since November 2020. Differentials are confirming there is a demand deficit and/or supply surplus, said Tamas Varga of oil broker PVM.
#TamasVarga #PVM #Russian #News #Business #Economy

12 hours ago

Meet Jayanti Chauhan, Bisleri owner's daughter, who refused to run the Rs 7,000 crore business

Ramesh Chauhan has announced his decision to sell the Rs 7,000 crore business. The 82-year-old business leader said someone had to handle it since his daughter Jayanti is not interested in taking over it. Jayanti Chauhan studied product development at Fashion Institute of Design and Merchandising in Los Angeles.
#RameshChauhan #FashionInstituteofDesignandMerch #LosAngeles #News #Business #Economy


This company fired its employees while they were sleeping

United Furniture Industries told its 2,700-strong staff to return to home after midnight on Monday. Reports say debt had been piling on the furniture company. One employee has filed a lawsuit against the company for not providing 60 days notice about its closure. The layoffs come amid a larger trend of sackings at big tech companies.
#UnitedFurnitureIndustries #News #Business #Economy


Russia-Ukraine war latest updates - The Washington Post

Belgian Prime Minister Alexander De Croo signs a declaration supporting Ukraine joining the EU. The Lithuanian and Polish leaders sign a similar agreement. European Union member states have been divided over a proposed limit of $65 to $70 per barrel. The proposed limit is due to come into effect on Dec. 5.
#AlexanderDeCroo #EuropeanUnion #Belgian #Lithuanian #Ukraine #News #Business #Economy


Jayanti Chauhan: The scion of Bisleri's chairman, who refused to take over ₹7,000 cr biz; Here's why

Bisleri International is one of India's oldest bottled water companies. Chairman Ramesh Chauhan has decided to sell his packaged water business. His daughter Jayanti Chauhan is not interested in handling the business. Chauhan holds qualifications in Fashion Styling and Photography from the London College of Fashion.
#JayantiChauhan #Bisleri #India #News #Business #Economy


'Wrong to say demonetisation failed': Centre defends note ban before SC - India Today

The Attorney General of India R Venkataramani on Friday defended the Centre’s 2016 demonetisation policy before a Constitution bench of the Supreme Court. The AG was arguing before a bench of Justices S Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna.
#RVenkataramani #IndiaToday #India #News #Business #Economy

2 days ago

Jack Tame: Black Friday meets the Reserve Bank - how do we spend less?

Adrian Orr has only bought a compost bin for his kitchen and a shower squeegee in the Black Friday sales. Maybe the Reserve Bank needs to take on the big retailers at their own game. Maybe we need a bit of left-field thinking to help the inflation fight. We should turn our attention to what is usually an inevitable Christmas splurge.
#JackTame #ReserveBank #Black #News #Business #Economy

2 days ago

Saudi Arabia And Iraq Reiterate Their Support For A Production Cut

OPEC+ agreed last month to reduce its combined production of crude oil by a nominal 2 million barrels daily. Saudi Arabia and Iraq reiterated their support for the oil production cut agreed upon last month. Earlier this week, the Wall Street Journal reported that the cartel was considering an increase in oil production ahead of the EU oil embargo on Russian oil.
#OilPrice #Russian #SaudiArabia #News #Business #Economy

3 days ago

India: India's foreign exchange reserves rise for a second straight week - The Economic Times

Indian equities made a dramatic surge in the last half hour of trade on Thursday – the last day of the November derivatives series – with two of the biggest gauges advancing over 1% led by information technology companies and the HDFC twins. The BJP is firm on implementing Uniform Civil Code (UCC) across the country but keeping democratic norms in mind, this should be done only after healthy and open discussions have taken place.
#HDFC #Indian #UniformCivilCode #India #News #Business #Economy

3 days ago

India's forex reserves rise for second week in a row

India's foreign exchange reserves rose for the second consecutive week due to easing pressure on the rupee due to a fall in crude oil prices and less hawkish US Federal Reserve. Today, rupee rose against the US dollar on dollar weakness and improved risk sentiments. Meanwhile, gold reserves rose $315 million to $40.01 billion.
#USFederalReserve #India #News #Business #Economy

3 days ago

India's forex reserve rise for second week to $547.25 bn

India's forex reserves increase by $2.54 billion to $547.25 billion for the week ended November 18. The rise in the foreign exchange reserves can be attributed to gains in the Foreign Currency Assets (FCA) The Special Drawing Rights (SDRs) were up by $351 million to USD 17.906 billion.
#India #News #Business #Economy

3 days ago

Market pro names stocks that could do well with margins under pressure

Patrick Armstrong, chief investment officer at Plurimi Wealth, believes this is the biggest risk for equities looking ahead. He said that market expectations for S & P 500 earnings next year looked too high, given the looming pressures. Armstrong's fund beat the MSCI World index to rise 8.2% in October.
#PatrickArmstrong #PlurimiWealth #500 #News #Business #Economy

3 days ago

Plan to cap gas price in EU slammed as ‘joke’ by ministers – DW – 11/24/2022

EU energy ministers widely panned a cap proposal cooked up by the European Commission. Spain, France, Poland, Greece, and Greece slam the proposal as a joke. Czech energy minister Jozef Sikela says the 27 member states agreed in principle on a joint gas purchasing platform for next year and the acceleration of permits for renewables.
#JozefSikela #EuropeanCommission #Czech #Spain #News #Business #Economy

3 days ago

Kotak AMC: Next year will see a fight between fund flow versus fundamentals: Nilesh Shah, Kotak AMC - The Economic Times

“We generally follow the fundamental side because funds can turn overnight, fundamentals take time to turn. Flows are like a speedboat, move very fast but when the storm hits, I better be in an oil tanker than a speed boat,” says, MD,.
#NileshShah #Kotak #News #Business #Economy

4 days ago

What India gains from FTA with Australia

The India-Australia Economic Cooperation and Trade Agreement (ECTA) is expected to double trade between the two countries in the next five years. ECTA will see India getting zero duty on 98.3% of tariff lines from the day the agreement comes into force. For the first time ever, India lowered its stiff duty on foreign wines.
#Mint #India #News #Business #Economy

4 days ago

US jobless claims hit three-month high as labor market cools

Applications for US unemployment benefits rose last week to a three-month high amid a wave of layoffs at technology companies. Initial unemployment claims increased by 17,000 to 240,000 in the week ended Nov. 19, Labor Department data showed. Continuing claims, which include people who have already received unemployment benefits for a week or more, rose by 48,000.
#LaborDepartment #News #Business #Economy

5 days ago

December Could Offer ‘The Mother Of All Buying Opportunities’ For Oil

Oil prices have traded down so far this month as fears of recession and China's surging Covid cases have weighed on market sentiment despite the imminent EU embargo on imports of Russian crude oil by sea. Brent Crude traded at $85 per barrel on Wednesday, and the U.S. Benchmark was below $80—at $78 a barrel after reports emerged that the EU is currently discussing a price cap on Russian oil.
#OilPrice #Russian #China #News #Business #Economy

4 days ago

Elon Musk has lost Rs 2,500 Crore daily this year as he fights to gain total control of Twitter - India Today

Elon Musk's wealth has reportedly declined the most in Bloomberg’s wealth index. A year ago, the billionaire's wealth index peaked at $340 billion. The credit for this goes to its Twitter takeover and other things, which we will talk about in a bit. Musk bought Twitter for $44 billion and sacked thousands of employees.
#ElonMusk #Twitter #News #Business #Economy

5 days ago

OECD Cuts India Growth Rate Forecast to 6.6 % in 2022

Organisation for Economic Co-operation and Development (OECD) cut its gross domestic growth forecast for India for the current financial year (FY23) to 6.6 per cent from 6.9 per cent. The agency said that tighter financial market conditions were weighing on the demand for capital goods.
#OECD #India #News #Business #Economy

5 days ago