b

U.S. crypto exchange Coinbase wins regulatory nod in Italy

The European Union is working on new rules and controls that crypto companies will have to comply with




b

SoftBank halts plans for Arm’s London IPO

SoftBank’s billionaire founder, Masayoshi Son, had told shareholders in June that he was in favour of a U.S. listing




b

UK tribunal quashes Meta-Giphy deal block, regulator to reconsider ruling

The Competition Appeals Tribunal said it had quashed the CMA’s ruling and referred the matter back for a new decision




b

Crypto lender Celsius defends Bitcoin mining plans as bankruptcy kicks off

Celsius hopes that Bitcoin mining will help it repair its damaged relationship with customers, whose funds were frozen




b

COVID-19 triples across Europe on past six weeks; hospitalisations double: World Health Organisation

WHO's Europe director Dr. Hans Kluge described COVID-19 as “a nasty and potentially deadly illness” that people should not underestimate.




b

Delayed Asian Games rescheduled to start in September 2023

The Olympic Council of Asia on Tuesday confirmed the delayed games would be held from September 23 to October 8




b

China summons U.S. envoy Nicholas Burns, warns America shall 'pay price' as Pelosi visits Taiwan

Chinese Vice-Foreign Minister Xie Feng “urgently summoned” the U.S. Ambassador to China Nicholas Burns late on August 2 night and lodged stern representations and strong protests over Nancy Pelosi’s visit




b

U.S. bill strengthens digital news publishers’ right for revenue sharing with Big Tech

A revised version of the bill was tabled by bipartisan senators in the United States on Wednesday that strengthens the stance for digital news publishers to negotiate with Big Tech companies for sharing revenues that entail the use of their content.




b

Brazil's Bolsonaro tells Supreme Court election 'is over'

After a private meeting with Mr. Bolsonaro, the Supreme Court Justice Luiz Edson Fachin said the conservative leader had said, "It is over. So, let’s look ahead.”




b

Explained | Big tech firms swing the axe on talent

Why are tech companies freezing their hiring process and laying off their employees? How has the new app tracking feature by Apple led to the sacking of employees?




b

‘Bengaluru is a fast-growing city, very diverse and has a big commitment to culture’

Bengaluru joins the league of 40 global cities including New York, London, Paris, and Tokyo among others at World Cities Culture Forum




b

August’s record gold influx lifts import bill to all-time high

The trade deficit widened to a 10-month high of $29.65 billion, the second highest monthly shortfall in merchandise trade




b

West Bengal economy performs poorly over several decades: EAC-PM paper

West Bengal’s economic decline, southern States’ growth post-1991, and regional disparities in India’s economic performance analysed in a working paper by Economic Advisory Council to the PM




b

U.S. Fed slashes lending rate by 50 bps in first cut since 2020

Policymakers voted 11-to-1 in favour of lowering the U.S. central bank's benchmark lending rate to between 4.75% and 5.00%, the Fed announced




b

‘India not an ‘abuser’ of tariffs, Trump’s claims unfair,’ says think tank GTRI

The numbers demonstrate that the U.S. also protects specific products of its economy with high tariffs, GTRI said in a report.




b

EPFO logs 20 lakh net new members in July

The latest data shows that nearly 6.25 lakh members between the ages 18 and 25 are first-time workers or new joiners




b

U.S. Fed rate cuts will put money in pockets, but a mood shift may take time

Recent surveys suggest that while the pace of price increases has declined dramatically, the public’s mood is still marred by nearly two years of high inflation




b

ADB retains India's growth forecast at 7%; govt spending, agriculture to boost economy

The Indian economy grew 8.2% in the last fiscal (2023-24)




b

Government retains borrowing target, to raise ₹6.61 lakh crore in H2 to fund revenue gap

The gross market borrowing of ₹6.61 lakh crore shall be completed through 21 weekly auctions.




b

GST Council sets up GoM on compensation cess; panel to submit report by December 31

In the GST regime, compensation cess at varied rates is levied on luxury, sin and demerit goods over and above the 28% tax




b

Export ban on non-basmati white rice removed

Exports to be permitted with immediate effect subject to a minimum export price of $490 per tonne; duty on parboiled rice cut from 20% to 10%; revival of trade to eastern and south east Asian markets expected




b

FPIs inflow hit 9-month high of ₹57,359 cr in equities in September; surpasses ₹1 lakh cr mark

In the debt markets, FPIs infused ₹8,543 crore through the Voluntary Retention Route (VRR) and ₹22,023 crore via the Fully Accessible Route (FRR) in September




b

Mcap of 8 of top-10 most valued firms surges ₹1.21 lakh crore; Reliance biggest winner

The market valuation of Reliance Industries jumped ₹53,652.92 crore to ₹20,65,197.60 crore




b

Government claim of eight crore new jobs is data jugglery, says Congress

Centre included even unpaid household work in its employment data, says Jairam Ramesh




b

Govt. extends deadline for filing Income Tax audit report to October 7

The I-T Department said that due to the difficulties faced by taxpayers in electronic filing of audit reports, the deadline is being extended from September 30, 2024 to October 7, 2024




b

India’s current account deficit in Q1 FY25 widens to $9.7 billion

The current account surplus for Q4:2023-24 was revised downwards to $ 4.6 billion from US$ 5.7 billion earlier due to an upward adjustment of customs data on merchandise imports, the RBI said.




b

TAFE files contempt petition against AGCO over Massey Ferguson brand




b

SEBI tightens noose on insider trading




b

GST revenue growth slowed in September

Gross revenues rose 6.5%, while net receipts were 3.9% higher than last September; seven States record a contraction while revenues were flat in Gujarat




b

Government picks three new members to join RBI’s Monetary Policy Committee

The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed for a period of four years.




b

Maruti, Hyundai, Tata Motors report decline in wholesales in September

Mahindra & Mahindra said its SUV wholesales in the domestic market increased 24% to 51,062 units in September compared to the same month of last year




b

SEBI to take measure for F&O segment soon; calls for tax breaks on municipal bonds

The regulator will make a case for a tax break for municipal bonds during a meeting with the finance commission




b

Rate cut hopes: at least one new MPC member a dove




b

Every daily wager in Odisha wants to be identified as a construction worker

More than 42.66 lakh people registered as construction workers to avail benefits from the buildings and construction welfare board of the State. But experts believe the construction sector of Odisha is not large enough to accommodate such a large labour force




b

No rethink on FDI curbs in multi-brand retail sector: Piyush Goyal

Piyush Goyal said there will be no rethink on the Foreign Direct Investment (FDI) curbs in the multi-brand retail sector.




b

India, U.S. exploring combined engagement with third countries to source minerals: Piyush Goyal

Piyush Goyal said that critical minerals figured in his official parleys with U.S. Commerce Secretary Gina Raimondo on Thursday.




b

OPEC+ could cushion Iran oil shock but not a broader disruption

OPEC and the U.S. can help ease oil prices in case there is disruption in supply due to a full-blown conflict between Israel and Iran; while OPEC has enough spare capacity to compensate for the loss of Iranian supplies, much of that capacity is in the Gulf region and potentially vulnerable to attack




b

Govt grants one-year extension to RBI Deputy Governor Rajeshwar Rao

Rao was appointed as RBI Deputy Governor in October 2020 for a period of three years




b

Public inputs sought for Income Tax Act review

These ideas may be taken up by an internal committee of the Income Tax Department that has been formed to oversee the review of the 1961 law.




b

RBI Monetary Policy Committee meeting: policy rate unchanged at 6.5% for 10th time in a row

‘RBI changes stance of monetary policy to ‘neutral’ from withdrawal of accomodation,’ says Shaktikanta Das.




b

RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

According to RBI Governor Shaktikanta Das, growth for the fiscal year will be supported by robust quarterly performances.




b

RBI asks banks to ensure easier accessibility for payment systems to persons with disabilities

RBI instructs banks to review payment systems for accessibility to persons with disabilities, ensuring digital payment inclusivity




b

India’s forex kitty drops by $3.71 billion to $701.176 billion

In the previous reporting week, the reserves had jumped by $12.588 billion to an all-time high of $704.885 billion.




b

China’s Finance Minister Lan says there is room for more economic stimulus; but offers no plan

“There are other policy tools that are being discussed that are still in the pipeline,” Chinese Finance Minister Lan said, adding that there is “ample room” in the budget




b

Wholesale food prices surged at two-year high pace of 9.5% in September

Fuel and power costs dropped over 4% last month, while manufactured product prices rose just 1%, reining in overall wholesale inflation pace to 1.84% from 1.3% in August




b

Indian conglomerates to spend $800 billion in new projects in 10 years: S&P Global Ratings’ report 

“The Vedanta, Tata, Adani, Reliance and JSW groups alone are prepping about $350 billion of investment in these sectors over the next decade,” Neel Gopalakrishnan of S&P Global Ratings said




b

36% surge in vegetable prices lifts September inflation to 9-month high

Retail inflation touches nine-month high of 5.5% in September




b

Economics Nobel Winners 2024 and their studies on ‘how institutions are formed and affect prosperity’

Daron Acemoglu and Simon Johnson are professors at the Massachusetts Institute of Technology while James Robinson is based at the Harris School of Public Policy and Department of Political Science at the University of Chicago.




b

A Nobel prize for explaining why nations fail or succeed

The 2024 Economics Nobel laureates have argued that differences in the quality of economic and political institutions is what best explains the divergence in the economic fates of countries




b

Dearness Allowance hiked by 3% for Central Government employees ahead of Deepavali

The government had last hiked Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners on March 8