Page 51 - Economy

Byju's raises $250 mn from existing investors, valuation remains at $22 bn

Regardless of the adverse macroeconomic conditions, Byju's founder Byju Raveendran said 2022-23 is set to be the best year in terms of revenue, growth and profitability

PM Narendra Modi to release 12th installment under PM-KISAN scheme today

In what could be a Diwali bonanza for millions of farmers, the govt will release Rs 16,000 crore under the 12th installment of PM-KISAN scheme through, which is expected to benefit 10 crore farmers

Austria's central bank revises nation's inflation forecast to 8.5%

Austria's central bank OeNB revised upwards its inflation forecasts for 2022 through 2024, citing surging energy prices and wage costs

The challenge of getting India's 350-400 mn 2G users to upgrade to 4G or 5G

With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better - but very improbably - straight to 5G?

Shriram Group likely to submit EoI for privatisation of IDBI Bank

Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender

Asian govts spent $50 bn in Sept to defend currencies from strong US dollar

Dollar sales in the region over the first nine months of the year have reached approximately $89 billion including Japan, marking the most active period for foreign-exchange expenditures

'Soft landing' is unlikely for US economy, says JP Morgan's Jamie Dimon

Jamie Dimon said the Federal Reserve probably can't cool the red-hot economy without bringing on a recession.

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Fund raise drops by 93.3% year-on-year to $210 mn in the quarter

India's economy faces significant external headwinds, says IMF

Earlier this week, the Washington-based fund lowered India's growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023 -- the biggest downgrade among major economies after the US

Packaged parathas, unlike chapatis, to attract 18% GST, says GAAAR

Vadilal Industries had appealed that the 8 varieties of parathas it makes should all draw the same rate as chapatis

Bursting housing bubble of China will rock the economy for years to come

While many economists say China's crippling housing downturn won't get much worse and that the stimulus will kick in this year or next, the reality on the ground for sellers like Echo is much bleaker

Govt may extend deadline for Cert-In cyber rules by 3 months to help MSMEs

According to Cert-In's guidelines, all enterprises, intermediaries, data centres and govt organisation are required to report any data breach to the government within six hours of becoming aware of it

Moody's downgrades 5 Pakistani banks' ratings; maintains negative outlook

Moody's Investors Service has downgraded the long-term deposit ratings to Caa1 from B3 of five Pakistani banks

Remittances from overseas Pakistani workers decrease 10.5% in September

Remittances sent by overseas Pakistani workers decreased 10.5 per cent in September 2022 on a month-on-month basis, the State Bank of Pakistan has said

Singapore resurgence draws big money, bubble fears with high cost of living

Below the surface, things aren't quite so rosy. As the government mints new long-term visas to attract more high-paid talent, it faces a delicate balancing act to keep its people happy

Opportune time to stock up on gold as global inflation surges, rupee falls

Low prices and the underlying demand for the yellow metal, coupled with high inflation are positives

Firms to not pay GST on part recovery of canteen payment from staff: AAR

Gujarat authority gives ruling in a matter involving Zydus Lifesciences; experts say greater clarity needed

Government weighs cancelling reverse auction for renewable power offers

According to data from the ministry of power, India has installed wind and solar capacities of 41.205 GW and 59.303 GW, respectively

Sovereign Green Bonds: What lessons can India draw from other nations

As of mid-2022, there are 26 countries with combined volumes of $227 billion in sovereign green debt