Page 50 - Economy

US midterm elections 2022: Democrats should focus on rising inflation

A new poll from Harvard's Center for American Political Studies shows that voters consider the top three issues to be inflation, the economy and jobs, and immigration

Dhanteras begins on positive note; jewellers expect footfalls to increase

Dhanteras, spread over two days of the weekend, got off to an auspicious start on Saturday as consumers began trickling in to markets, with jewellers expecting the momentum to increase towards the evening. Dhanteras, which marks the first day of Diwali in India, is considered an auspicious occasion to buy gold and silver as part of Hindu festivities. "Since the day has just begun, the footfalls are just trickling in. As this year Dhanteras is spread over the weekend, we expect the momentum to increase towards the afternoon and evening and tomorrow. "Mainly, since morning people who had pre-booked, are coming to pick up the items to avoid the crowd," All India Gem And Jewellery Domestic Council chairman Ashish Pethe told PTI. Since the last 3-4 days the consumer sentiment has been good and the sales momentum has been positive. The industry expects a good two days of business, he added. PNG Jewellers Chairman and Managing Director Saurabh Gadgil said in Maharashtra, the footfalls ha

Eurasian Economic Union members gather to promote economic integration

The five member states of the Eurasian Economic Union (EEU) have vowed to enhance cooperation in various fields during a meeting in Armenia's capital Yerevan

Japan's core consumer prices hit 8-year high, rise 3% YoY in Sep

Core consumer prices in Japan rose 3 per cent in September to a fresh eight-year high from a year earlier, the government said in a report

India pushing for valuation of $7.7 billion for state-owned IDBI Bank

India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd. in what could be the biggest sale of the government's stake in a lender in decades

Punjab govt decides to restore old pension scheme for its employees

The Punjab government on Friday took an in-principle decision to restore the old pension scheme for its employees. Giving a Diwali gift, the government has decided to implement the old pension scheme, Chief Minister Bhagwant Mann announced after a meeting of the state cabinet here. "We have taken in-principle decision to this effect in the cabinet meeting. This will benefit lakhs of employees...We are bringing Punjab under the old pension scheme," he said. Finance Minister Harpal Singh Cheema said that employees will be given the option to join the old pension scheme. Mann, a month ago, had said that his government is considering restoring the scheme for government employees. Restoration of the old pension scheme, which was discontinued in 2004, has been one of the major demands of state government employees. In August last year, Cheema, a senior Aam Aadmi Party leader, had promised to restore the old pension system if the party was voted to power in Punjab.

Global IT hardware industry players urge govt to postpone PLI 2.0 scheme

The IT industry has asked the govt to defer the implementation of the revised production liked incentive scheme, PLI 2.0

French FM Le Maire aims for annual inflation at 5% in early 2024: Report

French Finance Minister Bruno Le Maire has said that he aims to bring down the country's annual inflation rate to 5 per cent by the beginning of 2023

Healthcare services received at home are GST exempt, rules Kerala authority

It cites government note saying healthcare services provided by clinical establishments or authorised medical practitioners would not attract GST

Deliberations on draft telecom bill being conducted: Ashwini Vaishnaw

Draft telecom bill: Vaishnaw said that the Indian government will only introduce "light-touch regulations" on over-the-top (OTT) communication services

Sinking in polls, Japanese leader renews unorthodox inflation bet

Japanese leader Fumio Kishida has seen his approval rating plummet of late along with the yen. But he's sticking with his world-defying bet on loose monetary policy even as voter dissatisfaction grows

Hong Kong cuts property taxes, eases visa rules to attract global talent

Hong Kong Chief Executive John Lee unveiled a sweeping plan to woo talent back to the city and ease its housing woes, in a bid to revive its status as a thriving international finance hub

Railways to shut down COFMOW on Dec 1, seeks to trim undertakings

Unit for railway workshops being closed as part of finance ministry recommendation on 'rationalization of government bodies'

DoT to address Trai's concerns on dilution of power by draft telecom bill

DoT has also sought feedback on the bill from all ministries of the Central government, state government and the public along with Trai

India unlikely to join G7 push to cap Russian oil prices to counter Putin

The move to cap prices of Russian oil comes amid efforts to reduce Russia's revenue to counter its advances in Ukraine war, with minimum impact on global energy crisis

Centre will now define minimum work requirement under MGNREGA: Report

Earlier, state governments had the responsibility to define the minimum quantum of work required to earn a day's wages

Union Budget 2023: Individual taxpayers can expect some relief

Experts caution that fiscal support alone may create artificial demand and jack up prices

British consumers rein in luxury spending as energy bills rise by 48%

British consumers are reining in unnecessary purchases after a leap in energy prices ate into their discretionary spending, forcing people to cut back on new clothes, evenings out and lunches out

Growth in renewables saved $11 bn for EU in gas imports since Ukraine war

Clean power covered 24% of the EU's energy needs between March and September this year, the highest ever for this six-month period, according to a study by think tanks E3G and Ember

Mark Mobius warns Fed interest rates will hit 9% if inflation persists

If inflation is 8%, the playbook says you've got to raise rates higher than inflation, which means 9%, says the co-founder of Mobius Capital Partners