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Rupee slips to near 2-month lows, ends at 75.50 against USD
Mumbai, Dec 8 (PTI) The Indian rupee fell to a near two-month low of 75.50 against the US dollar on Wednesday as RBI's bi-monthly monetary policy decision failed to enthuse forex market participants. Meanwhile, the Reserve Bank left the key policy rate unchanged and retained its accommodative policy stance to support economic growth. At the [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 8 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE. ( ALL RATES IN RUPEES PER UNIT ). CURRENCY TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 74.60 76.10 74.54 76.26 EUR/INR 83.66 86.50 83.60 86.67 GBP/INR 98.32 101.49 98.24 101.69 JPY/INR 65.31 67.53 65.25 67.67 [...]
Rupee surrenders gains to end flat as rising crude prices weigh
Mumbai, Dec 7 (PTI) The rupee erased all its intra-session gains to end on a flat note at 75.44 against the US dollar on Tuesday as investors took note of rising crude oil prices and sustained foreign capital outflows. However, a sharp rebound in domestic equities improved investor sentiment, helping in restricting rupee slide. At [...]
DIRECT EXCHANGE RATES
Mumbai, DEC 7 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE. ( ALL RATES IN RUPEES PER UNIT ). CURRENCY TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 74.57 76.07 74.51 76.23 EUR/INR 83.63 86.46 83.56 86.64 GBP/INR 98.51 101.64 98.43 101.84 JPY/INR 65.23 67.45 65.18 67.58 [...]
Top Latest News on Indian Economy
India-UAE trade pact to create huge job opportunities, boost economy: Goyal
The comprehensive trade agreement between India and the UAE will help in creating huge job opportunities and boost growth of the domestic economy, Commerce and Industry Minister Piyush Goyal said on Friday. The bilateral pact, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA) is expected to increase the bilateral trade in goods to over [...]
IREDA keen to promote renewable energy projects in Odisha
The Indian Renewable Energy Development Agency on Friday said it is keen to promote more green energy projects in Odisha and has already sanctioned loans worth Rs 670 crore within one year of opening its branch in the state. The Indian Renewable Energy Development Agency (IREDA), a public sector non-banking financial institution, has been engaged [...]
ADB hints at providing USD 2.5 billion loan to cash-strapped Pakistan
The Asian Development Bank (ADB) has indicated that it will provide USD 2.5 billion in additional loans to Pakistan, including USD 1.5 billion before the end of this year, to help the cash-starved country which is in dire need of foreign assistance due to its depleting forex reserves and growing repayments and import financing requirements. [...]
Pakistan’s foreign exchange reserves plunge to lowest level since Dec 2019: Report
Cash-strapped Pakistan's foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan's central bank, inflows clocked in at USD 16.4 billion in the [...]
More lives lost in road accidents than in war: V K Singh
India loses more people in road accidents than in a war, Union Minister General (retd) V K Singh said on Friday. Addressing an event organised by industry body Assocham, Singh said road safety is the most important issue which the government needs to tackle. "More than 1.35 lakh people lose their lives due to road [...]
US ready to work with new Lankan PM Wickremesinghe; calls for early formation of inclusive government
US Ambassador to Sri Lanka has congratulated the newly-appointed Prime Minister of Sri Lanka Ranil Wickremesinghe and hoped that an inclusive government would be formed quickly to address the economic crisis and promote stability in the island nation. Wickremesinghe, 73, was sworn in as Sri Lanka's 26th prime minister on Thursday to stabilise the country's [...]
No load-shedding in Maharashtra for 22 days now: Energy Minister
Maharashtra Energy Minister Nitin Raut on Thursday said there has been no load-shedding in the state for the last 22 days and attributed this to good work and right planning by his department. He appealed to consumers to pay their energy bills on time and avoid wastage of electricity. “There is a shortage of coal [...]
Inflation surges to 8-yr high, interest rate hike may be on cards
India's headline inflation galloped for a seventh straight month to touch an 8-year high of 7.79 per cent in April on rising food and fuel prices, raising the odds of an interest rate hike by the RBI early next month to tame prices. With factory output measured in terms of the Index of Industrial Production [...]
Coal scam: SC seeks ED’s report on progress in probe of over 50 money laundering cases
The Supreme Court Thursday directed the Enforcement Directorate (ED) to apprise about the progress made by it so far in the investigation of over 50 money laundering cases arising out of the coal block allocation scam. The top court, meanwhile, also permitted the anti-money laundering probe agency to relieve or repatriate four senior officers, monitoring [...]
Consumer durables to see 3-5% price hikes as costlier imports amid rupee fall add to input costs
Prices of home appliances and consumer electronics, including TV, washing machines, and refrigerators, are expected to go up by 3 to 5 per cent from May end or the first week of June as manufacturers pass on the impact of rising input costs to buyers, according to industry players. Moreover, the depreciating Indian rupee against [...]
Number of subscribers under PFRDA pension schemes up 23% to 5.23 cr
The number of subscribers under the two flagship pension schemes of PFRDA increased nearly 23 per cent to over 5.23 crore by April-end 2022. The subscriber base of the two schemes combined was 4.26 crore in April last year, Pension Fund Regulatory and Development Authority (PFRDA) data showed. The flagship schemes -- National Pension System [...]
Annual salary hikes inch closer to pre-Covid levels; to be around 8.13% this year: Report
The median salary increment this year is likely to be around 8.13 per cent as the country recovered from the after effects of pandemic-related disruptions, a report said. According to the 'Jobs and Salary Primer Report for FY2022 by TeamLease', unlike the last two years, this year most of the job roles from across sectors [...]
Philips Expands Manufacturing and Research and Development Facility in Pune, Maharashtra
Pune, Maharashtra, India – Business Wire India Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology today unveiled the conclusion of 7,200 sqm expansion in its factory in Chakan, Maharashtra. The state-of-the-art factory now houses a total floor space of 11,700 sqm. and supports the MR Radio Frequency Coil, Mobile Surgery Systems, [...]
We may consider preferential trade pact with Oman: Goyal
India may consider negotiating a preferential trade agreement (PTA) with Oman to further boost economic ties between the countries, Commerce and Industry Minister Piyush Goyal said on Thursday. India is also under active discussions with Gulf Cooperation Council (GCC) for a comprehensive trade agreement, the minister said. GCC is a union of six countries in [...]
CBDT asks tax officers to not issue reassessment notices for 3 years till FY15
The Income Tax Department has asked field offices to not issue reassessment notices for 2012-13, 2013-14 and 2014-15 fiscal years to small taxpayers wherein the income escaping from tax is less than Rs 50 lakh. Issuing an instruction on implementation of the apex court judgement regarding notices sent beyond the three-year reassessment period, the department [...]
Gujarat’s debt burden lowest among big states: govt
Ahmedabad, May 11 (PTI) At over Rs 3,00,000 crore, Gujarat's public debt is the lowest among states with big populations in the country, the state government said on Wednesday. Speaking to reporters in Gandhinagar after a cabinet meeting, education minister Jitu Vaghani also informed that road projects worth Rs 12,200 crore will be completed in [...]
CM Bommai Invites Global Business Leaders to Invest in Karnataka
Top business leaders and diplomats attended the curtain raiser event of the Global Investors Meet (GIM) held in New Delhi today • CM Bommai urged everyone to join the GIM, which will be held from Nov 2nd - 4th 2022 at Bengaluru In a major international outreach to garner investments for the state, Karnataka Chief [...]
Hotels see 39% spike in revenue-per-available room in Jan-Mar: JLL India
The revenue per available room (RevPAR) in hotels across six major cities rose by 39.1 per cent year-on-year (YoY) during the January-March quarter with a strong recovery in leisure and business travels, according to JLL India. The company has tracked Delhi, Mumbai, Chennai, Hyderabad, Goa and Bengaluru markets. "All six key markets witnessed RevPAR growth [...]
Bangladesh envoy meets UP CM
High Commissioner of Bangladesh to India Muhammad Imran met Chief Minister Yogi Adityanath at his official residence here on Tuesday and discussed ways and means to further strengthen the relations between the two countries and especially promote trade with Uttar Pradesh, an official release said. Adityanath said India and Bangladesh have strong relations in history, [...]
United Kingdom, United States, European Union accuse Russia of series of cyber-attacks
Russia has been behind a series of cyber-attacks linked with its conflict with Ukraine earlier this year with wide-ranging impact across Europe, the European Union (EU), the UK and the US said on Tuesday. The western allies said the most recent attack was on the communications company Viasat in Ukraine, which had a wider impact [...]
Frequently Asked Questions
1. What is GDP in an Economy?
Gross domestic product (GDP) is the standard measure of the value-added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production or the total amount spent on final goods and services (less imports).
2. What type of news will you get on the Economy section?
Economy news section on Trade Brains News will provide you with the news on the Indian economy and the factors that affect it. It will also provide you with news on retail inflation, foreign exports and imports and more. Stay updated with news on the Indian economy on Trade Brains News.
3. What is inflation in an economy?
Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
What is Retail Inflation?
Retail Inflation, refers to the rate of inflation based on the Consumer Price Index (CPI), The CPI is an index that tracks the daily consumption of households and the change in the price of the goods and services these households spend on.
