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Goldman Sachs predicts early policy easing by banks in India and Australia following the Federal Reserve's lead
18 Dec 2023
In a surprising turn of events, central banks across the Asia-Pacific region, from India to Australia, are poised to initiate interest rate cuts earlier than initially projected, influenced by the Federal Reserve’s hastened easing cycle, as suggested by Goldman Sachs Group Inc.
Govt to provide financial incentives to local shipbuilders
17 Dec 2023
The government has introduced a scheme to offer financial assistance for Indian shipyards for securing orders from domestic as well as overseas markets and to remain competitive in the market, union minister for ports, shipping and waterways, Sarbananda Sonowal informed the Lok Sabha in a written reply on Friday.
Adani takes control of news agency IANS with 50.5% stake
16 Dec 2023
Adani Group firm AMG Media Networks has acquired a 50.50 per cent stake in news agency Indo-Asian News Service Pvt Ltd (IANS), expanding the group’s presence in the media sector.
India’s installed power capacity to reach 900.42 GW by FY32
16 Dec 2023
The Central Electricity Authority (CEA) has projected addition of a total 517,403 Mega Watts (517.40 GW) installed power generating capacity in India, which will take the country’s installed capacity to a total 900.42 GW by 2031-2032.
Ola’s Bhavish Aggarwal unveils multilingual AI chatbot `Krutrim’
16 Dec 2023
Ola co-founder Bhavish Aggarwal on Friday unveiled a multilingual AI chatbot model, called `Krutrim’, designed and manufactured by Krutrim Si Designs, his artificial intelligence venture.
Centre allows ethanol production from sugarcane juice, B-heavy molasses
16 Dec 2023
A week after prohibiting the use of sugarcane juice and sugar syrup for making ethanol, following industry pressure, the government on Friday reversed its decision and allowed the use of the juice as well as B-heavy molasses for producing the bio-fuel.
Defence ministry inks Rs5,336-cr contract with BEL for electronic fuses of artillery guns
16 Dec 2023
Ministry of defence on Friday signed a contract with Bharat Electronics Ltd (BEL), Pune for procurement of electronic fuses for artillery guns, involving total expenditure of Rs5,336.25 crore for the government over a 10-year period.
SBI hikes MCLR-based interest rates, makes retail loans costlier
16 Dec 2023
The State Bank of India (SBI) on Friday announced a 5-10 basis points increase in its marginal cost of fund-based lending rate (MCLR) for select tenors.
DRDO successfully flight-tests high-speed flying-wing UAV
15 Dec 2023
Defence Research and Development Organisation (DRDO) has successfully carried out a flight trial of Autonomous Flying Wing Technology Demonstrator
India’s April-November merchandise trade deficit estimated at $166.35 bn
15 Dec 2023
India added $20.98 billion to its merchandise trade deficit in November 2023, taking the country’s overall merchandise trade deficit for the April-November 2023-24 period to $166.35 billion.
US Fed keeps policy rate unchanged at 5.25-5.50%
15 Dec 2023
The US Federal Reserve has decided to keep policy interest rate unchanged for a third time in succession, saying that any further tightening of financial and credit conditions will weigh on economic activity, hiring, and inflation.
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Go Airlines India faces imminent closure as rescue efforts falter
15 Dec 2023
In a dire turn of events, Go Airlines India Ltd., founded by billionaire Nusli Wadia’s Wadia Group, teeters on the verge of a permanent shutdown.
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