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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

India to spruce up cyclone forecasting with new supercomputers, radars

A unit of computing power, the petaflop refers to a thousand trillion operations a second

Go First seeks up to $122 mn in additional funds: Banking sources

Go First, the Indian airline under bankruptcy protection, has asked for between $122mn in additional funds from lenders to resume operations in July

TCS signs $1.1 bn contract with UK's pension scheme Nest for 10 years

The contract, to help Nest transform its administration services, if extended to the entirety of its 18-year tenure would be worth 1.5 billion pounds, TCS said in a statement

WHO prepares for increased spread of viral disease linked to El Nino

The WHO chief also warned that climate change is fueling the breeding of mosquitoes, and incidence of dengue has already risen sharply in recent decades, particularly in the Americas

Amazon duped millions of consumers into enrolling in Prime, says US FTC

The FTC has been investigating sign-up and cancellation processes for the Prime program since March 2021