Goldmine Weekly Updates

GDP over $3.5 trillion in 2022. India’s fastest growing G20 economy looks attractive.

Annual inflation in Britain is still at 8.7%, which is too high. Many of these economies will need to go through a long phase of recession before things get normal. Euope is a weak spot except Germany.

Government plans PLI scheme for basic chemicals. So, the Government is trying to incentivise various industries that were under developed or not developed.

RBI has said that the private consumption, rural demand revival to drive growth in April June.

JSW Steel, JFE inks pact to manufacture electrical steel in India. Electrical steel is a speciality steel used in the cores of electromagnetic devices such as motors, generators and transformers because it reduced power loss.

Coal India concludes wage revision pact with 2.38 lakh non-executive workers, agrees on about 25% hike in allowances.

Russian Oil floods markets even as Moscow insists cuts.

Nearly 60000 contract workers lost jobs in India’s IT sector.

Banks say RBI rules make it difficult to attract top class talent on boards.

Reliance completes acquisition of 51% stake in the Lotus Chocolate Company.

S&P said that the Indian banks profitability will stabilise and asset quality is likely to improve.

Government mulls changes to MSME pre-packaged scheme, more teeth for IBBI.

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