India bans export of broken rice
After imposing 20 per cent export duty on non-basmati rice, the government has banned the export of broken rice with an aim to increase domestic availability, according to a government notification "Export Policy of broken rice ...is amended from ‘Free’ to ‘Prohibited’," the Directorate General of Foreign Trade (DGFT) said in a notification dated September [...]
Mcap of BSE listed firms at all time high of Rs 282.66 lakh cr
The market capitalisation of BSE-listed firms reached an all-time high of Rs 282.66 lakh crore on Thursday, helped by a rebound in equities. The 30-share BSE Sensex climbed 659.31 points or 1.12 per cent to settle at 59,688.22 after falling in the previous two trading days. The bounce back in equities, helped the market capitalisation [...]
Import of Russian oil at discounted price part of inflation management: FM
Finance Minister Nirmala Sitharaman on Thursday said India has ramped up the import of crude oil from Russia at discounted prices amid sanctions on Moscow as part of the country's inflation management. "In a situation where global prices were going beyond anyone's affordability, at that stage to take a very strong political decision, I respect [...]
Domestic airline industry expected to report Rs 15,000-17,000 loss in FY23: Report
Domestic airlines industry is expected to report a net loss of around Rs 15,000-17,000 crore this fiscal on account of elevated price of Aviation Turbine Fuel (ATF) and a weak rupee, a report said on Wednesday. The losses for the industry in the previous fiscal were estimated at around Rs 23,000 crore, credit ratings agency [...]
Steel prices in India to remain under pressure over near future: Icra
Icra on Friday said it expects steel prices to remain under pressure in the country over the near future as the prices in the domestic market cannot be cushioned from the global trends. The rating agency also expects the steel demand in the domestic market to grow at 7-8 per cent in the current financial [...]
IMF provisionally agrees on USD 2.9 billion bailout for crisis hit Sri Lanka
The IMF on Thursday announced that it will provide Sri Lanka a loan of about USD 2.9 billion over four years under a preliminary agreement to help the bankrupt island nation tide over its worst economic crisis and protect the livelihoods of the people. Sri Lanka is going through its worst economic crisis since its [...]
Govt hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil
The government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per litre and on jet fuel exports to Rs 9 a litre, besides raising the levy on domestically-produced crude oil in line with the hardening of global prices. At the fourth fortnightly review, the government raised the windfall profit [...]
Markets rally: Investors richer by Rs 5.68 lakh cr
Investors' wealth soared by Rs 5.68 lakh crore on Tuesday driven by a smart recovery in the equity market with benchmark BSE Sensex rallying nearly 3 per cent. The BSE Sensex jumped 1,564.45 points or 2.70 per cent to settle at 59,537.07. During the day, the benchmark rallied 1,627.16 points or 2.80 per cent to [...]
Housing prices rise in 42 cities in Q1 of FY23: NHB
Housing prices rose in 42 cities in the first quarter of 2022-23, while the rates of residential units fell in five cities and remained stable in three cities, according to the price index Residex released by NHB. All the eight major metros recorded an increase in the index on an annual basis -- Ahmedabad (13.5 [...]
