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The Economic Times US Fed slashes interest rates by 50 bps in first cut since 2020

The Federal Reserve has announced a half-point rate cut before the end of this year and an additional percentage point cut in 2025. This decision will lower borrowing costs for consumers and businesses. The Fed is confident that inflation is moving towards its 2 percent target, with balanced risks to employment and inflation goals.

The Economic Times CFOs move into the line of succession for the top job

CFOs are increasingly being seen as strategic partners, with their roles expanding into company strategy, governance, and digital transformation. This shift is positioning them for potential CEO roles, especially in sectors like private equity and startups. Their expertise in cost structure, fundraising, and digital initiatives is becoming crucial.

The Economic Times ICAI launches AQMM 2.0 to elevate audit standards for listed entities, banks, and insurance firms

The ICAI has launched Audit Quality Maturity Model (AQMM) 2.0, reinforcing standards for firms auditing listed entities, banks, and insurance companies, enhancing audit quality across India’s 96,000 firms.

The Economic Times NFRA stands firm on SA 600 revision despite ICAI concerns; consultation paper issued

Amid concerns from the Institute of Chartered Accountants of India about potential audit concentration among large firms, the NFRA proposes significant revisions to SA 600 to address audit deficiencies and enhance oversight.

The Economic Times US Fed set to make first rate cut since 2020

The US Federal Reserve is expected to cut interest rates for the first time in over four years, likely impacting global financial markets. The decision comes as inflation eases and the labor market cools. Analysts are divided on whether the cut will be a quarter or half percentage point.

The Economic Times Women empowerment, technology, employment focus areas of MSME ministry

The MSME ministry, under Jitan Ram Manjhi, has focused on women empowerment, technology, employment, and regional development in the first 100 days of Modi 3.0. Key initiatives include increased credit guarantee for women entrepreneurs, the Yashasvini campaign, PMEGP support for new enterprises, and new technology centers in Bokaro and Leh.

The Economic Times Fears over proposed revamp of audit standards misplaced: NFRA

The National Financial Reporting Authority (NFRA) has dismissed concerns that revamping domestic audit standards to align with global norms will negatively impact small and mid-sized audit firms. NFRA clarified that the new rules will only affect a small percentage of companies, ensuring minimal disruption while enhancing trust in financial reporting.

The Economic Times Limited Impact of Bangladesh's developments on India's FMCG, footwear & soft luggage sector: CRISIL

Recent developments in Bangladesh have had a limited impact on India's trade, according to a CRISIL report. Sectors like FMCG, cotton yarn, and footwear may see minor effects, while ship breaking and readymade garments could benefit. Prolonged disruptions could affect export-oriented industries with ties to Bangladesh.

The Economic Times Government scraps windfall tax on crude oil

The Indian government has announced the removal of the windfall tax on crude oil, effective from September 18. Initially imposed in July 2022, the tax was aimed at curbing profits from high refining margins. This is the second time the tax has been reduced to zero, following a significant drop in global crude oil prices.

The Economic Times Sun Pharma receives order of ₹35.43 Lakh by GST Dept for Unpaid Taxes on Recoveries from July 2017 to March 2020

Sun Pharmaceutical Industries Limited has penalised by the Assistant Commissioner, Goods & Service Tax, Division, Mohali-I, Punjab, according to the stock exchange.

The Economic Times Allied Blenders and Distillers appoints Anil Somani as CFO

Allied Blenders and Distillers Limited has appointed Anil Somani as its new chief financial officer, succeeding Ramakrishnan Ramaswamy. Somani brings over 32 years of experience in finance roles across various sectors. He aims to enhance the company's financial performance and operational efficiency.

The Economic Times India’s trade deficit expands to USD 29.7 Bn in August as exports retard

India’s total exports for August 2024 amounted to USD 65.40 billion, registering a slight decline of 2.38% from USD 67.00 billion in August 2023. Meanwhile, total imports stood at USD 80.06 billion, reflecting a 3.45% rise from USD 77.39 billion.

The Economic Times Jindal Stainless CFO Anurag Mantri sees robust growth for Indian corporates, driven by domestic consumption and quality exports

Anurag Mantri, CFO of Jindal Stainless, forecasts strong growth for Indian corporates, emphasizing high-quality exports, inclusive financial strategies, and robust ESG practices to drive future economic success.

The Economic Times India's wholesale inflation eases to 1.31% in August as fuel prices turn negative

India's wholesale inflation eased to 1.31% in August from 2.04% in July, driven by falling fuel prices and slower food price increases. The Wholesale Price Index was expected to moderate to 1.85%. The MPC kept rates unchanged at 6.5% amid concerns over food prices and geopolitical tensions.

The Economic Times Rate cut to be based on long-term inflation trajectory: RBI Governor

RBI Governor Shaktikanta Das stated that decisions on interest rate moderation will be based on long-term inflation trends rather than monthly data. The Monetary Policy Committee will meet from October 7 to 9 to decide on the interest rate, which has remained at 6.5% amid food inflation risks.