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UK Election: Keir Starmer vs Rishi Sunak and the Future of Trade Deals The UK election, set for this Thursday, could bring significant changes to government policies that impact the economy. The outcome of the polls will determine these changes. Key Economic Issues According to S&P Global Market Intelligence, the election could affect the UK’s…
New SEBI Rules for Small and Medium REITs to Boost Investor Confidence: CRISIL Ratings The Securities and Exchange Board of India (SEBI) has introduced new regulations for small and medium real estate investment trusts (SM REITs) to enhance investor protection and broaden the investor base. According to CRISIL Ratings, these regulations will drive interest in…
Indian Textile Industry Shows Signs of Recovery, Says Avendus Spark Report The textile industry is seeing signs of recovery, with global retailers and brands reporting that their inventory levels have returned to pre-COVID standards, according to a recent report by Avendus Spark. However, the report highlights a cautious outlook on demand as garment companies await…
India Raises Windfall Tax on Petroleum Crude Amid Rising Oil Prices The Indian government has increased the windfall tax on petroleum crude to Rs 6,000 per tonne from Rs 3,250, effective July 2. This change was announced in an official gazette notification issued on Monday. International crude oil prices are currently at a two-month high….
Indian Stock Market Hits Record High The Indian stock market opened at a record high on July 2, with Sensex starting at 79,840.40, up 364 points or 0.46%, and Nifty at 24,228.75, up 86 points or 0.36%. Bank Nifty also opened in green at 52,079.3, up 219 points or 0.42%. The Nifty Midcap 100 opened…
India’s Coal Supply Increases: Ministry of Coal Ensures Sufficient Stock for Power Plants As of June 29, India’s domestic coal-based Thermal Power Plants (TPPs) have 44.46 million tonnes (MT) of coal, which can last for about 18.5 days at the current usage rate, according to the Ministry of Coal. This stock is 33% more than…
Patanjali Foods to Acquire Patanjali Ayurved’s Home and Personal Care Business New Delhi, India – July 1 The board of Patanjali Foods Limited has approved the proposal to acquire the home and personal care (HPC) business of Patanjali Ayurved Limited. This acquisition is expected to accelerate Patanjali Foods’ transition into a leading FMCG company. Key…
Arnab Kumar Chowdhury Appointed as Executive Director of Reserve Bank of India The Reserve Bank of India (RBI) has announced the appointment of Arnab Kumar Chowdhury as Executive Director (ED) starting from June 3, 2024. Before this promotion, Chowdhury served as Chief General Manager-in-Charge in the Department of Supervision. Chowdhury brings over three decades of…
Tata Motors’ Sales Drop in June Due to Elections and Heat Waves New Delhi [India], July 1: Tata Motors has reported a decline in sales for June and the April-June quarter. The company sold 43,624 units in June, including electric vehicles (EVs), marking an 8% year-on-year drop. EV sales specifically fell by 34% to 4,657…
Prime Minister Modi Celebrates 9 Years of Digital India Initiative New Delhi [India], June 1: Prime Minister Narendra Modi highlighted the transformative impact of Digital India and celebrated the successful completion of nine years of the initiative. He emphasized that Digital India symbolizes an empowered India, boosting ease of living and transparency. Key Achievements Launched…