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US Senate passes record $858 billion defense bill, sends bill to Prez Biden

The fiscal 2023 NDAA authorizes $858 billion in military spending and includes a 4.6% pay increase for the troops, funding for purchases of weapons, ships and aircraft, and support for Taiwan

Govt plans to invite bids to extract gold from dumps at Kolar mines

The Kolar fields, located about 65 kilometres (40 miles) northeast of Bengaluru, are among the country's oldest gold mines

Centre mulls building several refineries, not one UAE-Saudi plant

"The role of Maharashtra government is crucial in acquiring the land," the source said

India eyes record rapeseed crop as high prices prompt farmers to plant more

Higher rapeseed production could help India, the world's biggest importer of vegetable oils, cut expensive overseas purchases of cooking oils that cost the country a record $18.9 billion in the fiscal

India may split planned mega refinery into several refineries: Reports

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

India's CAD in July-Sept qtr likely shot up on widening trade gap: Report

The median forecast of 18 economists in a Dec. 5-14 Reuters poll was for a $35.5 billion current account deficit in the July-September quarter, or 4.3% of GDP, the most in nearly a decade

Oil dips as dollar firms up and more rate hikes trigger demand concerns

Brent crude futures fell 64 cents, or 0.8%, to $82.06 per barrel by 0730 GMT, while US crude futures slid 73 cents, or 0.9%, to $76.55

Wheat stocks to fall further by 13% but will be sufficient, says Centre

Wheat stocks in India's government warehouses will fall by about 13% by early next month from current levels but will be sufficient for welfare schemes of the country

India eyes record rapeseed crop as high prices prompt farmers to plant more

Higher rapeseed production could help India, the world's biggest importer of vegetable oils, cut expensive overseas purchases of cooking oils that cost the country a record $18.9 billion

India says air exercise in east not connected to border clash with China

IAF says its Eastern Air Command will conduct an exercise to train its crew

Indian shares set to fall on hawkish US Fed despite slower rate hike

Asian markets were also off to a tepid start, with the MSCI Asia ex Japan sliding 1.02%

India's Q3 current account deficit likely rose on widening trade gap: Poll

A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports

China's Nov factory output, retail sales miss expectations as Covid bites

China's economy has been depressed by its zero-COVID policy, as tight movement controls hampered consumption and production

Banks that lent to Elon Musk to book Twitter loan losses, avoid hits

Besides Morgan Stanley, the syndicate includes Bank of America Corp, Barclays Plc, Mitsubishi UFJ Financial Group Inc, BNP Paribas SA, Mizuho Financial Group Inc and Societe Generale SA

Fed lifts rates by half percentage point, sees economy nearing stall speed

Only two of 19 Fed officials saw the benchmark overnight interest rate staying below 5% next year

Indian winemaker Sula's IPO oversubscribed with bids worth $190 million

Investors had bid for 43.8 million shares by the final day of bidding, 2.33 times the 18.8 million shares on offer, with institutional investors showing the most interest, exchange data showed

Sebi planning 'micro' REITs to bring property companies to nascent market

'The regulator is considering reducing the size of REITs, allowing them to hold just a single asset or a diversified portfolio, to increase supply and flexibility for investors'

G20 wants to build policy consensus on crypto assets, says Ajay Seth

The Group of 20 (G20) countries are striving to build a policy consensus on crypto assets to inform better global regulation, India's federal economic affairs secretary Ajay Seth said

Mahindra CEO sees US entry for new electric vehicles at least 5 years away

A US market entry "could likely be longer than five years because we have to win in some of our key markets first," including Europe, he added

Wall St keeps its poise ahead of Fed's last rate decision for 2022

The subdued price moves followed a rally in stocks and a sharp drop in the U.S. dollar in the previous session when the consumer prices data showed a slowdown in inflation