Indian Rupees was on a slippery, against U.S dollar fell to one month low to Rs 68.38 against a dollar.
Annual retail Consumer Price Index (CPI) inflation accelerated to a four-month high in May this year. This was mainly due to the hike in fuel prices and subsequent increase in food prices, that lifted the CPI-based reading to 4.87%, official data released on Tuesday showed. India’s annual retail inflation accelerated in April to 4.58%. Core inflation, mainly reflecting firming up of manufacturing prices touched 5.9 percent, at a 44-month high, economists estimated.
Jun 13, 2018
Indian domestic consumption of Petrol, Diesel has gone up, as the number of new vehicles on road has gone up by 36%. the domestic car sales were up 19.64% at 1,99,479 units as against 1,66,732 units in May 2017. Utility Vehicle sales rose 17.53% to 82,086 units, while sales of Van surged to 29.54 %, 19,673 units during the month. Fuel consumption is a proxy for oil demand went up to 18.72 million tonnes in May 2018. Diesel sales went up by 7.55 million tonnes, petrol by 2.46 million tonnes, which is the highest record in consumption of oil so far since April 1998.
Jun 12, 2018
The looming trade war between U.S.A and China has been put on hold. Markets rose after the US said it reached an agreement with China to ease trade imbalances between the world’s two largest economies. The Treasury secretary, Steven Mnuchin, said on Sunday that “We’re putting the trade war on hold, right now, we have agreed to put the tariffs on hold while we try to execute the framework, We have made very meaningful progress and we agreed on a framework”.
May 24, 2018
Chinese electronics and software company Xiaomi introduces next flagship smartphone "Mi 8" is supposed to be the sequel to "Mi 6". It will be launched with an in-display fingerprint sensor. The Xiaomi, Chinese Android manufacturer’s flagship includes a 3D facial recognition unlocking feature, the Snapdragon 845 chipset with up to 8GB RAM, 64GB of storage, and a 4,000mAh battery with support for wireless charging. Xiaomi had two other high-end phones "Mi Mix 2" in 2017, "Mi Mix 2s" in 2018, which both have feature larger displays.
May 20, 2018
The printing of 500 rupees notes has been ramped- up to about 3,000 crores every day to take care of the extra demand, Economic Affairs secretary Subhash Chandra Garg said. He said the cash situation in the country was "quite comfortable" and the extra demand was being fully met. -courtesy by "The Hindu"
May 7, 2018
The Securities Appellate Tribunal(SAT) has asked The Securities and Exchange Board of India(SEBI) to review the regulations for underwriting of a public issue.This model agreement was framed in 1993 and has in operation since then. In underwriting,the merchant banker gives an undertaking when an initial public offer(IPO) remains undersubscribed and the banker can subscribe to unsold shares.The underwriting clause which is mandatory in all SME IPOs, ensures the issue will not fall down because of the low demand from the investors.
May 1, 2018
"Infosys with 3 billion U.S dollars has plans to go on the buying spree of 'across portfolios' especially connected with the digital platform to stabilize, gain momentum and attain speed during the third year"; said the CEO of Infosys. The first acquisition of U.S based "Wong Doody" holding, a digital creative and consumer insights company for $75 million is the beginning of the series. Digital business is growing, Infosys would be a catalyst for the growth of client's future.
Apr 24, 2018
The US has imposed an additional tax on Indian steel and aluminum, India would file a trade-dispute with WTO against the U.S if it fails to grant exemption on the metals. "India has no other choice to seek exemption citing discrimination by the U.S if they refuse to grant the exemptions", stated by the Indian representatives at New Delhi. The Indian government has submitted a proposal to the U.S government which is pending in the court.
Apr 24, 2018
About 43.67 lakh taxpayers have filed their October GSTR-3B returns, which is the highest number so far, according to the Goods and Services Tax Network, which said the number of returns being filed was increasing every month.The GSTR-3B filings for August and September stood at 28.46 lakh and 39.33 lakh, respectively.“The number of taxpayers filing their GSTR 3B returns is showing marked improvement month after month with about 43.67 lakh of them filing their GSTR-3B returns for October till November 20, 2017, the highest so far,” the GSTN said in a release.
Nov 22, 2017
Bill Gates "Giving Pledge", more than 170 extremely rich have decided t part with their wealth at least fifty percent. 'Giving Pledge' have been the torch bearer to stream live may to donate part of the money to philanthropy, getting the roller of private government, aiming to eradicate poverty, its roots from the world at large. Nandan Nilekani, Infosys fame, and his wife Rohini have become the recent signatory to pledge from India.
Nov 21, 2017