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MPC minutes: RBI members diverge on further rate hikes amid growth risks

The RBI in its policy also brought back the focus on 4% as the medium term target of the MPC and not just the 2-6% band

Deutsche Bank plans to cut 10% of 17k German retail jobs to curb expenses

The plans at Germany's largest bank come as Claudio de Sanctis prepares to take over the retail unit, known as the private bank division, on July 1

Applied Materials to invest $400 mn in India for new engineering center

Indian Prime Minister Narendra Modi had met with the company's CEO Gary Dickerson in Washington on Wednesday and invited Applied to strengthen the chip industry in the country

VSK Energy backed by Vikram Solar to invest $1.5 bn in new US factories

The newly formed company, VSK Energy LLC, aims to leverage India's extensive solar manufacturing know-how in the U.S. push to build a clean energy manufacturing sector to compete with China

Accenture forecasts fourth-quarter revenue below Wall Street estimates

Shares of the company were down 2% in trading before the bell

Bank of England hikes rates to 5% to tackle inflation, highest since 2008

MPC members Silvana Tenreyro and Swati Dhingra opposed the rate rise - as they have all others this year - saying that much of the impact of past tightening had yet to be felt

GE signs MoU with HAL to make fighter jet engines for Indian Air Force

The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States

Musk eager to bring Starlink to India, but faces resistance from Ambani

Following a meeting with Indian Prime Minister Narendra Modi in the U.S. on Tuesday, Musk said he was keen to launch Starlink in India which "can be incredibly helpful" in remote villages

Musk eager to bring satellite broadband 'Starlink' to India, Ambani resists

Starlink is at odds with Reliance over the government's distribution of satellite broadband spectrum, setting the stage for a battle between two of the world's richest men for satellite services

Brent crude falls 0.6% to $76.65 with interest rates, inventories in focus

By Shadia Nasralla

Rupee likely to strengthen to 80-per-dollar in 2024: BofA India treasurer

The rupee is up nearly 1% against the dollar so far this year against depreciation in most other Asian currencies

Govt likely to offer assured base pension in compromise with states: Report

The Ministry of Finance, in a response after the report was published, denied that any such a decision has been taken

Beijing breaches 40 deg C for first time in 9 yrs as heatwaves return

Last week, national weather bureau issued an alert for heat stroke, almost a fortnight earlier than in previous yrs, as new record temperatures for the month of June assailed cities across north China

What is China's position on restructuring debt owed by poor nations?

China wants multilateral lenders like the International Monetary Fund (IMF) and World Bank to absorb some of the losses, which those institutions and many developed nations

Sony-Zee merger to go through, whether I'm CEO or not, says Punit Goenka

Goenka was set to become the merged entity's managing director and CEO, leading a $10 billion TV enterprise

PM Modi's US visit may encourage more American firms to invest in India

The United States is the third largest source of foreign investment for India, with over $60 billion invested between 2000 and 2023, according to official data

Biden admin to ease visas for skilled Indian workers as PM Modi visits US

Indian citizens are by far the most active users of the US H-1B program and made up 73% of the nearly 442,000 H-1B workers in fiscal year 2022

European Union's powerful lending arm eyes first 'debt-for-nature' swap

Debt-for-nature swaps, which help countries cut their debt in return for conservation commitments

'Long way to go': Federal Reserve Chair Powell points to more rate hikes

But a few big buyers in credit markets are calling Fed's bluff

Google hit with $15 mn penalty in US trial over two audio patents

Google spokesperson Jose Castaneda said on Wednesday that the company was disappointed with the verdict and plans to appeal