The Economic Times The Economic Times

The Economic Times Cost of imports up; RBI likely to turn cautious on Rupee

Imported inflation in India's CPI has gradually increased since April 2024, contributing 0.5 percentage points by August 2024. With global prices rising, imported inflation is expected to further impact core inflation. The RBI is managing the rupee's value to counter this. Strong FPI inflows and currency management by the RBI may control imported inflation.

The Economic Times US-India Strategic Partnership Forum to host India Leadership Summit 2024 on October 14

The US-India Strategic Partnership Forum (USISPF) aims to create a powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the US-India partnership.

The Economic Times NTPC Renewable Energy names Pushpendra Tyagi as CFO

Pushpendra Tyagi who previously served as the head of Internal Audit at NTPC, takes over from from Neeraj Sharma, the former CFO of NTPC Renewable Energy.

The Economic Times India’s forex reserves dip $3.7 bn to come off all-time record high

India's foreign exchange reserves decreased by $3.7 billion to $701.18 billion as of October 4, according to the Reserve Bank of India. The RBI intervenes in the forex market to manage liquidity and prevent excessive rupee depreciation, ensuring orderly market conditions without aiming for specific exchange rate targets.

The Economic Times US continues to be largest source of FDI in India: RBI census

With FDI growth outpacing overseas direct investment (ODI) rise, the ratio of outward to inward DI stock at market value declined to 16.1 per cent in March 2024 from 19.3 per cent a year, the RBI's census revealed.

The Economic Times Apple accused of restricting workers' Slack, social media use by US labor board

This is the second time the NLRB has hit Apple with a complaint this month. Last week, the agency accused the company of requiring employees nationwide to sign illegal confidentiality, nondisclosure, and noncompete agreements and of imposing overly broad misconduct and social media policies.

The Economic Times Why Hyundai India's GMP crashed 76% even as market awaits India's biggest IPO

The GMP for Hyundai India is declining ahead of the IPO opening next week, with shares currently commanding a GMP of approximately Rs 139, reflecting a marginal premium of 7% over the issue price. The IPO consists of a complete OFS of 14.2 crore shares by the Korean parent company, priced between Rs 1,865 and Rs 1,960. At the upper end of this range, Hyundai India is valued at Rs 1.6 lakh crore.

The Economic Times Startup funding drops 37% on year to $103 million this week

This week, startups, across seed, early and late-stage rounds, raised funds through 21 deals, compared to 29 deals in the year-ago period, when they raised a total of $163 million, according to data from Tracxn.

The Economic Times Adani Energy inks pact to operate electricity transmission lines in Kenya

Gautam Adani's conglomerate has agreed to build and manage major electricity transmission lines in Kenya for 30 years. The project will upgrade Kenya's power infrastructure, addressing frequent blackouts. Funding will be sourced by Adani, and the government will not incur costs. After 30 years, the project will be transferred to Kenya's Electricity Transmission Company.

The Economic Times 'Enhancing Connectivity and Resilience': PM Modi unveils 10-point plan to boost ASEAN-India ties

Prime Minister Narendra Modi unveiled a 10-point plan to bolster the ASEAN-India Comprehensive Partnership at the 21st ASEAN-India Summit to enhance connectivity and resilience.

The Economic Times Indian pharma, electronics industries poised to gain from US investment restrictions in China

Highlighting that global companies will continue to divert investments from China to other parts of Asia Pacific (APAC) and the rest of the world, it said: "Asean and India could be attractive because they are receptive to foreign investments and their manufacturing competitiveness is increasing".

The Economic Times India's industrial production sees marginal contraction, manufacturing production rises

India's Index of Industrial Production (IIP) saw a marginal contraction of 0.1 per cent in the month of August, against July's 4.7 per cent as manufacturing production rose by 1 per cent, the Ministry of Statistics data showed on Friday.

The Economic Times Amazon Business corporate gifting store sees 134 per cent growth in festive sale

Amazon's B2B marketplace, Amazon Business, saw significant growth in corporate gifting during the first ten days of the Amazon Great Indian Festival 2024, with a 134% year-on-year increase. Popular gifting items included kitchenware, tech gadgets, and snack hampers. The rise underscores the convenience and growing trend of online corporate gifting in India.

The Economic Times Housing finance companies may miss out on festive demand

Housing finance companies are anticipating a delay in the festive season demand surge due to pending government guidelines on the PMAY and Affordable Housing Refinance Scheme. The PMAY subsidy aims to provide ₹1.80 lakh for home loans up to ₹25 lakh, while the refinance scheme offers a 5% interest rate for housing loans disbursed in the past year.

The Economic Times 60% of Indian unicorn founders achieved $1-billion valuation in maiden attempt: report

In the last two years, companies such as quick commerce platform Zepto, non-banking lender InCred, Ola founder Bhavish Aggarwal’s artificial intelligence startup Krutrim, and software-as-a-service (SaaS) fintech startup Perfios have attained a value of over $1 billion. In 2024, five startups -- Krutrim, Perfios, Rapido, electric scooter maker Ather Energy, and fintech lending startup Moneyview -- achieved unicorn status.

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