Economy
NFRA to propose audit standards for LLPs at November 25 board meeting
The meeting will be attended by representatives of the Institute of Chartered Accountants of India (ICAI), which had earlier drafted a Guidance Note on financial statements of LLPs
 "NFRA to propose audit standards for LLPs at November 25 board meeting")
No reason to scale back our domestic targets, says CEEW's Arunabha Ghosh
Expectations from this year's COP are clear on issues, whether we have a ministerial presence or not, Arunabha Ghosh, CEO of Council for Energy Environment and Water, said in his interview
 "No reason to scale back our domestic targets, says CEEW's Arunabha Ghosh")
Russia's First Dy PM to visit India for discussing economic cooperation
Manturov will participate in the plenary session of the Russian-Indian Business Forum in Mumbai on November 11, where the focus will be on expanding economic and business cooperation
 "Russia's First Dy PM to visit India for discussing economic cooperation")
Russian oil finds way to Europe; India now biggest exporter of fuel to EU
Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia's invasion of Ukraine. This has almost doubled
 "Russian oil finds way to Europe; India now biggest exporter of fuel to EU")
Global oil prices would have soared if we hadn't imported from Russia: Puri
New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in check
 "Global oil prices would have soared if we hadn't imported from Russia: Puri")
Onion prices soar in Delhi, Mumbai, Lucknow leaving consumers in distress
The price of onions has risen from Rs 40-60 kg to Rs 70-80 per kg at the wholesale markets
 "Onion prices soar in Delhi, Mumbai, Lucknow leaving consumers in distress")
Engineering firms expect pipeline to remain robust amid West Asia crisis
Engineering exports to West Asia countries such as the UAE rose by 50 per cent
 "Engineering firms expect pipeline to remain robust amid West Asia crisis")
Rail freight grows 1.5% in October to 131 million tonnes, shows data
In contrast, the railways had achieved a cargo growth of 8.5 per cent in October 2023
 "Rail freight grows 1.5% in October to 131 million tonnes, shows data")
Forex reserves slide for fifth week to more than 2-month low at $682 bn
Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves
 "Forex reserves slide for fifth week to more than 2-month low at $682 bn")
BS BFSI Summit: Economists prioritise local inflation over Fed policy
Nayar emphasised the importance of local inflation factors like food and rent on inflation expectations
 "BS BFSI Summit: Economists prioritise local inflation over Fed policy")
Skill ministry asks states to enrol ITI passouts under PM Internship Scheme
The government aims to skill 10 million youths in India's top companies in five years through the internship scheme
 "Skill ministry asks states to enrol ITI passouts under PM Internship Scheme")
Trump's presidency may benefit India as trade diverts from China: Moody's
Trump is likely to pursue more aggressive immigration policies, including increased deportations, the construction of additional border barriers, stricter visa regulations, and reduced asylum grants
 "Trump's presidency may benefit India as trade diverts from China: Moody's")
COP29 climate agenda clouded by global trade tensions ahead of summit
Delegates at the conference must adopt the summit agenda by consensus as their first task when the COP29 talks begin on Nov. 11 in Baku, Azerbaijan
 "COP29 climate agenda clouded by global trade tensions ahead of summit")
Incumbent WTO head Iweala lone contender for top job in Trump era 2.0
During his first term, Trump paralysed WTO's top adjudications court by blocking judge appointments - a status that continues today - and announced tariffs on U.S. imports of steel and aluminum
No place as fascinating, interesting as India on development journey: CEA
He talks about issues ranging from the United States election results and growth in gross domestic product to agriculture and his experience of having a ringside view of the Indian economy
 "No place as fascinating, interesting as India on development journey: CEA")
BS BFSI Summit: RBI action on some NBFCs warranted, says K V Kamath
Kamath said that the Reserve Bank of India's action on unsecured lending and non-banking finance companies (NBFCs) was warranted
 "BS BFSI Summit: RBI action on some NBFCs warranted, says K V Kamath")
BS BFSI Summit: Free trade effective in theory, not in practice, says CEA
India need not worry about trade battles driven by climate policies, Nageswaran said in his keynote address at the Business Standard BFSI Summit on Friday
 "BS BFSI Summit: Free trade effective in theory, not in practice, says CEA")
Amnesty scheme for customs, easier taxes on India Inc's Budget wishlist
Industry body FICCI sought the introduction of an "amnesty scheme under customs" as a one-time settlement scheme to clear past dues
 "Amnesty scheme for customs, easier taxes on India Inc's Budget wishlist")
India's decision to opt out of RCEP agreement strategically sound: GTRI
"Had India joined RCEP, the situation could have worsened drastically, as it would face zero-tariff imports from China, risking further imbalance," GTRI said
 "India's decision to opt out of RCEP agreement strategically sound: GTRI")
Inflation in India to rise further to 5.81% on rising food costs: Poll
Annual retail inflation as measured by the CPI likely rose a second straight month to 5.81% in October, the highest since August 2023, says Reuters poll
 "Inflation in India to rise further to 5.81% on rising food costs: Poll")
