04/11/2024
Recent Blog
Never miss a headline with our Weekly News Update!
- Dec 19 ,2023
- by admin
- Goldmine Update
- India’s trade deficit fell to $20.58 billion in Nov as imports shrank 4.3%. Exports declined 2.8% to $33.9 billion in November while imports dipped 4.3% to $54.5 billion leading to the narrowing of the trade deficit.
- 56% to shut bank lockers due to rising rentals, KYC requirements as per a survey.
- Iran scraps visa requirements for Indians.
- DRDO carries out flight trial of lethal UAV. This technology will be useful in a technology warfare, where we can save our soldiers and still destroy enemy targets.
- Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group Company and one of the leading EV Charging solutions providers, and Indian Oil Corporation Limited (IOCL) have signed a Memorandum of Understanding (MoU) to roll out fast and ultra-fast electric vehicle (EV) charging points across India. The collaboration will see Tata Power install 500+ EV charging points across multiple IOCL retail outlets.
- EPFO invested almost Rs 27105 crores in ETFs in April October.
- Interest rates will decline from the first quarter of calendar 2024.
- Lenovo logs into PLI 2. Dixon to make laptops for the Chinese company in India.
- CPI inflation in November has risen to around 5.55% in November. But IIP growth rate has gone up by 11.7% in October. So, overall the economy is looking good.
- US consumer inflation has slowed down to 3.1%.
- Google and Apple’s monopoly over play store apps will be broken soon. A Federal court has given a verdict that establishes monopoly of these two companies and steps will be taken to open up the things.
- French banking major BNP Paribas has sold its domestic retail broking unit Sharekhan to South Korean financial group Mirae for an undisclosed sum.
- Irked by the slow rollout of city gas distribution (CGD) networks in India, the Petroleum and Natural Gas Board (PNGRB) has told companies to get going or risk having their bank guarantees seized.
- American Gorilla Glass maker and key supplier of Apple, Corning Inc, is looking to set up a Rs 1,000 crore manufacturing facility in Tamil Nadu, Initially, the smartphone cover glasses will be given premium finishing in the new facility to be built as part of the 70:30 joint venture between Optiemus and Corning. The new entity has been named Bharat Innovation Glass (BIG).
- The Rajya Sabha on Tuesday passed a bill to regulate the appointment and service terms of CEC and Election Commissioners. Central Government will have a better say now.
- 12 of the 31 States and Union Territories project debt more than 35% of the Gross State Domestic Product at FY24 end. Very risky for these states to have such high debt. These twelve states Arunachal Pradesh, Goa, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan and West Bengal have caught the eye of the RBI. One can easily observe that most of these states have a non BJP Government.
- Teamlease has said that there is data to suggest strong hiring across all sectors except IT.
- Kenya has announced that it will abolish visa requirements for all global visitors beginning Jan 2024.
- The Parliament on Wednesday passed a bill to repeal 76 redundant and obsolete laws with the Government saying the move is part of its continuing efforts to improve the ease of living and doing business.
- Chinese real estate is in a mess and the officials are trying to limit the damage. At some point of time, it could crash and that will lead to some big defaults by real estate guys. Side effect will be meltdown in the commodities prices.
- Dr Reddy becomes the first Indian Pharma company to debut on the Dow Jones Sustainability World Index. Also secures gold medal status from global sustainability ratings agency. Retains place in the Dow Jons Sustainability Emerging Market Index for the 8th year in a row. The Company has also pledged towards an integrated plantation initiative covering 2900 hectares by 2028.
- Net direct tax collection rises to 23.4% in April November 2023.
- India’s Russian Oil imports hit 4 month high in November. Any steep price in crude oil prices will force India to shift to cheaper alternatives.