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Rupee hits 8-week low of 75.40, tumbles 28 paise against USD
Mumbai, Dec 6 (PTI) The rupee on Monday plunged by 28 paise to hit its weakest level in eight weeks at 75.40 against the US dollar in line with massive erosion in domestic stocks amid concerns over the new Omicron variant. Besides, rising crude prices in international markets and a surging greenback overseas also pulled [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 6 (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 74.45 75.95 74.39 76.11 EUR/INR 83.50 86.33 83.43 86.50 GBP/INR 97.98 101.10 97.90 101.30 JPY/INR 65.44 67.67 65.39 67.80 [...]
Rupee drops 10 paise to 75.12 against USD on new COVID variant worries
Mumbai, Dec 3 (PTI) The Indian rupee extended its loss by another 10 paise to settle at 75.12 against the US currency on Friday in line with massive sell-offs in domestic equities amid growing worries over the new COVID variant. At the interbank foreign exchange market, the local currency opened at 74.98 and witnessed an [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 3 (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 74.25 75.75 74.19 75.91 EUR/INR 83.31 86.14 83.24 86.31 GBP/INR 98.08 101.22 98.00 101.42 JPY/INR 65.16 67.40 65.11 67.54 [...]
Top Latest News on Indian Economy
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 [...]
Startups shape future of industries: Niti VC
Startups represent an important part of the economy and can shape the future of jobs, products and industries, NITI Aayog Vice Chairperson Suman Bery said on Tuesday. Speaking at the launch of 'AIM-PRIME Playbook', Bery further said science-based startups are particularly exciting due to their potential for delivering large-scale social impact. The AIM PRIME (Program [...]
Equity MFs see Rs 15,890 crore inflow in April amid volatile stock market
Sustaining positive momentum for the 14th straight month, equity mutual funds attracted a net sum of Rs 15,890 crore in April amid heightened volatility in stock market and consistent selling by foreign portfolio investors. This was much lower compared to a record net inflow of Rs 28,463 crore seen in the preceding month, data from [...]
Crypto industry wants govt to lower TDS on transactions
The crypto industry has urged the government to reduce the TDS on payments towards gains arising from trading in cryptocurrencies to 0.01 or 0.05 per cent, from the proposed 1 per cent, saying it will hurt retail traders. CoinDCX CEO and Co-Founder Sumit Gupta said 30 per cent tax on income from cryptocurrencies is on [...]
Suo-moto probe by DGTR: Govt imposes countervailing duty on copper tubes, pipes
The government has imposed a countervailing duty on copper tubes and pipes coming from Malaysia, Thailand and Vietnam for five years, following recommendations by the Directorate General of Trade Remedies that has probed the matter on a suo-moto basis. The imposition of the duty is aimed at guarding domestic players against imports that are subsidised [...]
‘Higher coal imports may push power supply cost for discoms by 4.5- 5 % in FY23’
The government measures to ease power supply constraints through higher coal imports are likely to increase cost of supply for discoms by 4.5-5.0 per cent in 2022-23, Icra said on Tuesday. On May 5, Ministry of Power (MoP) issued a directive under Section 11 of the Electricity Act, stating that all imported coal-based power plants [...]
Colombo Stock Exchange declares Tuesday as market holiday amid worst economic crisis in Sri lanka
The Colombo Stock Exchange has declared Tuesday as a market holiday due to settlement difficulties, nearly a month after it remained closed for a week amid the worst economic crisis in Sri Lanka. The decision also came a day after Sri Lanka witnessed unprecedented violence and political crisis following the resignation of Prime Minister Mahinda [...]
Many pockets of Mumbai plunge into darkness in another power outage
Many pockets of Mumbai plunged into darkness on Monday evening in a power outage caused by what was termed as a "technical fault". The outage comes amid a series of disruptions in power supply faced by the financial capital over the last month amid a severe shortage of electricity that has forced the state discom [...]
PM to launch Madhya Pradesh govt’s new startup policy on May 13
Prime Minister Narendra Modi will on May 13 virtually launch the Madhya Pradesh government's new startup policy aimed at encouraging budding entrepreneurs in the state, an official said on Monday. A host of incentives will be given to eligible early stage companies under the Madhya Pradesh government's Startup Policy and Implementation Plan-2022, he said. The [...]
Average retail price of wheat flour surges 13% Rs 32.91 per kg in one year
The average price of wheat flour in retail markets stood at Rs 32.91 per kilogram on Monday, a nearly 13 per cent increase compared to the year-ago period, according to official data. The all-India average retail price of wheat flour or atta was Rs 29.14 per kg on May 8, 2021. The data from the [...]
RailTel launches PM-WANI scheme-based access of its public WiFi services across 100 stations
RailTel has launched Prime Minister Wi-Fi Access Network Interface (PM-WANI) scheme-based access of its public WiFi services across 100 railway stations, the Rail PSU said in a statement on Monday. The soft launch of this public friendly services was done by Puneet Chawla Chairman and Managing Director, RailTel, at a programme held here on Monday. [...]
Centre has created new opportunities for private sector to make products done earlier only by PSUs: FM Sitharaman
With licence quota raj prevailing during the 70 years of Congress regime, the policy change brought in by the central government under Prime Minister Narendra Modi has created new opportunities for the private sector by allowing them to manufacture products that were normally made by public sector units (PSUs), Union Finance Minister Nirmala Sitharaman said [...]
Pakistan stock exchange plummets by more than 1,500 points in intraday trading
Depletion of foreign reserves and delay in the resumption of the International Monetary Fund programme affected the Pakistan stock exchange on Monday as it shed nearly 1500 points in intraday trading. The Pakistani currency also lost out against the US dollar which gained flight to sell at 188.05 in the interbank market. Since the cash-strapped [...]
Bihar bridge collapse: Gadkari says amazed at IAS officer’s response
Union Minister Nitin Gadkari on Monday said he was amazed at the response of an IAS officer who attributed the collapse of a portion of an under-construction road bridge in Sultanganj to 'strong winds'. A section of an under-construction road bridge over the Ganga at Sultanganj in Bihar collapsed during a thunderstorm on April 29. [...]
Sri Lankan Airlines asks passengers to produce tickets, passports to reach airport
Sri Lankan Airlines on Monday urged passengers to produce their air ticket and passport at checkpoints to reach Bandaranaike International Airport (BIA) after authorities imposed nationwide curfew and deployed the Army in Colombo following clashes between pro- and anti-government protesters amidst the political turmoil in the island nation. "In view of the prevailing situation in [...]
Reducing Automotive Air Pollution with Advanced European Emission Control Technology for India
ALCOR CB M&A closes a JV transaction between European Company Autometal and Dewas Hydoquip India to bring in the “State of the Art” Technology for Emission Control Systems to India and Asian Markets. Autometal, a European company is bringing in the latest technology for emission control by partnering with an Indian company Dewas Hydroquip from [...]
Govt to meet cab aggregators on Tuesday amid rise in consumer complaints
The government has called a meeting of cab aggregators like Ola and Uber on Tuesday to discuss their policies related to fare calculation, surge pricing, ride cancellations and measures taken by them for data protection of customers, Consumer Affairs Secretary Rohit Kumar Singh said on Monday. The meeting has been called amid rise in consumer [...]
Sensex extends losses amid global weakness; RIL tumbles post Q4 show
Equity benchmarks began the week on a downbeat note on Monday, weighed by heavy selling in market heavyweight Reliance Industries and persisting weakness in global bourses. The rupee plunged to its lifetime low against the US dollar amid unabated foreign fund outflows, underscoring the risk-off sentiment prevailing globally as central banks embark on policy tightening [...]
ED’s probe on Xiaomi: China calls for fair & non-discriminatory environment for its firms in India
China on Monday expressed hope that India will provide a "fair, just and non-discriminatory environment" to its companies as it reacted guardedly to reports of top executives of Chinese smartphone maker Xiaomi faced a probe by the Enforcement Directorate regarding its remittances abroad. “China is closely following the situation,” Chinese Foreign Ministry spokesman Zhao Lijian [...]
Goyal seeks states’ consensus for decriminalising offences under metrology law
Food and consumer affairs minister Piyush Goyal on Monday stressed on simplification and decriminalisation of offences under the Legal Metrology Act, 2009 for ease of doing business and asked states to come to a consensus on this issue so that a draft could be put in public domain for feedbacks from all stakeholders. He mentioned [...]
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.