LIVE news: US Fed holds policy rate unchanged in 5.25%-5.5% range

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12:40 AM

US Fed holds policy rate unchanged in 5.25%-5.50% range

The US Federal Reserve began its second day of interest rate deliberations on Wednesday. Jerome Powell-led Federal Open Market Committee (FOMC) kept the interest rates steady in 5.25 per cent-5.50 per cent range in its fight against inflation. The central bank has maintained a hawkish stance on interest rates in a bid to tame surging inflation and bring it below the long-run target of 2 per cent. In past months, the Fed's target inflation rate has drastically tumbled below an annual 3 per cent, while economic growth remained robust at 2.5 per cent in 2023 and unemployment stayed close to historic lows.

10:52 PM

Crude oil extends losses ahead of Fed decision

Oil prices fell on Wednesday, pressured by low economic activity in leading crude importer China and a surprise build in US crude inventories as oil producers ramped up output after following frigid weather earlier this month.

 

Prices were also pressured after US Energy Information Administration data showed weekly crude inventories rose by 1.2 million barrels last week. Brent crude futures for March, which expire today, fell 78 cents, or about 0.9 per cent, to $82.09 a barrel. 

 

The more actively traded April contract was down $1.00, or about 1.2 per cent, at $81.50. US West Texas Intermediate crude futures lost $99, or roughly 1.3 per cent, to $76.83. Both benchmarks fell by more than $1 a barrel earlier in the session, according to news agency Reuters.

10:52 PM

Energy shares drag FTSE 100 lower; Fed decision in focus

The UK's blue-chip index fell on Wednesday, hurt by losses in energy shares and Vodafone, while investors awaited comments from Federal Reserve Chair Jerome Powell after the U.S. central bank's policy decision later in the day.

 

The blue-chip FTSE 100 slipped 0.5 per cent, with heavyweights Shell and BP weighing on the index with a one per cent slide, tracking oil prices lower.

 

UK stocks logged their worst month since October as investors scaled back bets of aggressive interest rate cuts from major central banks, with concerns about China's slowing economy adding to the gloom.

10:47 PM

Powell-led FOMC likely to hold key rates steady for 4th straight meeting

The US Federal Reserve began its second day of interest rate deliberations on Wednesday. Jerome Powell-led Federal Open Market Committee (FOMC) is likely to keep the interest rates steady in its fight against inflation and continue talks about when to start cutting them. The central bank has maintained a hawkish stance on interest rates in a bid to tame surging inflation and bring it below the long-run target of 2 per cent. In past months, the Fed's target inflation rate has drastically tumbled below an annual 3 per cent, while economic growth remained robust at 2.5 per cent in 2023 and unemployment stayed close to historic lows.

10:45 PM

Hemant Soren's wife Kalpana Soren arrives at the Enforcement Directorate's office, in Ranchi

9:17 PM

President's address only a 'propaganda', an 'advertisement' of Modi govt: Congress

The Congress on Wednesday rejected President Droupadi Murmu's address to both houses of Parliament as "propaganda" and "advertisement" of the Modi government, saying it belied expectations. Congress president Mallikarjun Kharge said they were happy that the President came to the new Parliament for the first time and addressed both the Houses, even though the honour was granted late to her. He said everyone saw that the government did not consider it appropriate to invite her to the inauguration of the new Parliament building, although the President is an integral part of the Parliament.

8:29 PM

NHAI to extend KYC compliance deadline for FASTags by one month

Indian Highways Management Company, an arm of state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month, a senior government official said on Wednesday. Earlier on January 15, the National Highways Authority of India (NHAI) said FASTags with valid balances but incomplete KYC will get deactivated by banks post-January 31, 2024. "Only 7 lakh multiple FASTags have been closed out of 1.27 crore. Hence, we are proceeding with extending the deadline by another one month," the official told PTI on the condition of anonymity.

7:39 PM

GST revenue collected in January 2024 up by 10% at Rs. 1,72,129 crore: Ministry of Finance

7:33 PM

Maratha reservation: Activist Jarange Patil declares indefinite hunger strike from February 10

7:19 PM

Jharkhand: Section 144 imposed near Raj Bhavan, CM house, ED office in Ranchi amid Soren's questioning by ED

6:43 PM

Bharat Jodo Nyay Yatra: Will conduct countrywide caste census after coming to power, says Rahul Gandhi

Senior Congress leader Rahul Gandhi on Wednesday asserted that a countrywide caste census would be conducted if the party comes to power at the Centre in the upcoming Lok Sabha elections. While addressing a rally as part of 'Bharat Jodo Nyay Yatra' in West Bengal's Malda district, Gandhi accused the RSS and the BJP of propagating hatred and violence. "We want social justice. After we come to power at the Centre, we will conduct a countrywide caste census to find out the number of Dalits and people from other backward communities," he said.

6:18 PM

Burman family raises their stake to 25.18% in Religare Enterprises

Mumbai: The Burman family have increased their stake to 25.18 per cent in Religare Enterprises as part of their plan to acquire the financial services firm. The Burmans have made the open offer for the company to acquire an additional 26 per cent stake in the company but is awaiting the market regulator, Sebi nod for the offer. On September 25th, last year, the Burman family had announced an open offer for REL at Rs 235 per share. Religare share price closed  4.5 per cent up at Rs 237 a share. The Religare board however has rebelled against the Burman takeover and have complained to the Sebi.

 

6:09 PM

Bharat Jodo Nyay Yatra: Assam Congress chief questioned by police in FIR on route deviation

Assam Congress president Bhupen Kumar Borah was on Wednesday questioned by the police for his "role" in the deviation of the route of the 'Bharat Jodo Nyay Yatra' in Jorhat. The police had on January 18 registered an FIR against the 'Bharat Jodo Nyay Yatra' and several Congress leaders for allegedly deviating from its permitted route in Jorhat town. The case was lodged under nine sections of the IPC, including some non-bailable ones, such as 120B (criminal conspiracy), 143 (unlawful assembly), 147 (rioting), 188 (disobedience of order), 283 (causing danger, obstruction or injury), 323 (voluntarily causing hurt) and 353 (criminal force to deter public servant from discharging duty) of the IPC.

5:54 PM

Kerala CM Pinarayi Vijayan accuses Congress of adopting 'soft Hindutva' stance

Kerala Chief Minister Pinarayi Vijayan on Wednesday lambasted the Congress in the state assembly, accusing the grand old party of adopting a "soft Hindutva" stance, and asserting that it has failed to uphold Nehruvian secularism. In his response to the debate on the Motion of Thanks to the Governor's Policy address, Vijayan criticised the actions of the opposition party in the state, pointing out that Rahul Gandhi visited a temple in Assam during the Ram Temple consecration ceremony, and that Congress governments in Karnataka and Himachal Pradesh had organised special celebrations

4:54 PM

Core sector growth dips to 14-month low of 3.8% in Dec due to high base

Core sector output growth hit a 14-month low of 3.8 per cent in December on the back of a high base and a moderation in the growth of six constituent sectors, according to the Ministry of Commerce and Industry data released on Wednesday. Last month, the output growth was 7.9 per cent. In December last year, the core sector, comprising eight key infrastructure industries, output had grown 8.3 per cent.

4:51 PM

Legal team is looking into summons: AAP leader Priyanka Kakkar on probe agency's notice to CM Kejriwal

AAP's Priyanka Kakkar has said that the party's legal team is currently looking into the summons. Kakkar stated that any decision will be made in accordance with the law.

4:48 PM

News update: Ten thousand Indian workers to reach Israel in batches starting next week

Some 10,000 workers from India are to make their way to Israel starting next week as Israel's construction sector suffers a severe manpower crisis post the October 7 conflict with Hamas.

2:58 PM

LIVE: Delhi CM Arvind Kejriwal issued summons for fifth time in Delhi liquor policy case

The Enforcement Directorate (ED) has summoned Delhi Chief Minister and AAP chief Arvind Kejriwal for the fifth time in connection with the Delhi liquor policy case.

2:09 PM

LIVE news: Rahul Gandhi's car 'pelted with stones' during Congress' Bengal Nyay Yatra

The rear window pane of the vehicle suffered damage in the incident but Rahul Gandhi did not suffer any injury. Visuals on news channels showed Gandhi exiting the vehicle after reaching a halt and inspecting the damaged windowpane. The attack took place in Malda's Harischandrapur area as the yatra re-entered West Bengal.

1:43 PM

ED reaches Soren's residence, to question him in money laundering case

1:36 PM

LIVE update: Punjab High Court declines to stay Chandigarh Mayor poll results

 

The Punjab and Haryana High Court on Wednesday declined to stay the election results of the Chandigarh mayoral election that had been challenged by Congress-Aam Aadmi Party (AAP) candidate Kuldeep Kumar, reported Live Law.

1:07 PM

Toshakhana reference: What's behind the arrest drama at Imran Khan's residence

Imran Khan,ex-Prime Minister of Pakistan, and his wife Bushra Bibi have been sentenced to 14 years in jail in the Toshakhana case, Dawn reported todya. Both have been fined Pakistani rupees (PKR) 787 million each and have been prohibited from holding any public office for ten years. Read the details about the case here.

12:37 PM

News update: Maldives' Envoy Ibrahim Shaheeb arrives at Parliament on first day of the Budget session

Ibrahim Shaheeb said, "Everything is good", when asked on the status of India-Maldives relations. 

12:32 PM

Delhi airport chaos: Passengers of Delhi-Deoghar flight raise slogans against IndiGo after it cancels flight

12:24 PM

"Maldives Prosecutor General Hussain Shameem attacked with machete": Maldives's Democrats

"Maldives Prosecutor General, Hussain Shameem, was brutally attacked today with a machete in broad daylight. Since the attack took place on the street, it is considered to be pre-mediated and well-planned. Such an attack on a person holding a highly constitutionally appointed position in the state to avoid politics and perform important duties within the criminal justice system is an attack on the entire system. It's a dangerous signal. The incident is being investigated by the Maldives Police, " say Maldives's Democrats (Former President Mohamed Nasheed's party)

11:06 AM

Ex-Pakistan PM Imran Khan, wife Bushra Bibi sentenced to 14 yrs in Toshakhana reference

Former Pakistan Prime Minister Imran Khan and his wife Bushra Bibi  were sentenced to 14 years in jail in the Toshakhana reference on Wednesday, according to a report by Dawn. Khan and his wife were also forbidden from holding any public office for 10 years and were handed a fine of Rs 787 million each. Bushra Bibi did not appear before the court today.

10:47 AM

I-T department conducts searches at premises linked to ex-Congress minister Bhagat in Chhattisgarh

The income tax department is organising searches at premises linked to ex-Cong minister Amarjeet Bhagat, others in Chhattisgarh

10:16 AM

Karnataka governor sends ordinance on 60% use of Kannada in signboards back to govt

Deputy Chief Minister D K Shivakumar stated that Karnataka Governor Thaawarchand Gehlot has sent back an ordinance mandating 60 per cent use of Kannada in signboards of businesses and establishments back to the state government.

 

9:59 AM

Bharat Jodo Nyaya Yatra update: Rahul Gandhi resumes journey from Kolasi, Bihar

 

Congress leader Rahul Gandhi greeted well-wishers during his Bharat Jodo Nyay Yatra that resumed from Kolasi village in Katihar district of Bihar this morning. 

 

9:56 AM

Lokayukta raids underway in Mandya, Karnataka

Lokayukta raids underway at six places of one of the officials of the PWD Department in Mandya, Karnataka.