MUMBAI(Reuters) – The Reserve Bank of India (RBI) sold net $384 million in the spot foreign exchange market in January, the central bank’s monthly bulletin showed on Tuesday. The RBI said it purchased $12.90 billion and sold $13.29 billion in the spot market in the month. In comparison, it bought net $3.84 billion in the spot market in December. […]
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The IT services sector in India may have to bear the brunt of the banking sector crisis in the US and Europe, which may affect their FY24 growth momentum. The industry counts banking, financial services, and insurance (BFSI) as its largest customer base. According to Nasscom, BFSI constituted 41 per cent of the industry’s revenue […]
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Amazon.com Inc announced on Monday that it has decided to lay off an additional 9,000 employees, CNBC reported citing a memo sent to staff. According to media reports, CEO Andy Jassy said in the memo that lay off will happen in the next few weeks, mostly in Amazon Web Services (AWS), advertising, Twitch and PXT (People Experience […]
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The Petroleum and Natural Gas Ministry has accepted the main recommendations of the Kirit Parikh committee on natural gas pricing, and will be further recommended by them to the Cabinet soon, several officials said. The move is expected to have a significant impact on the energy sector, as the price of natural gas will likely increase.
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Amritpal Singh, self-styled radical Sikh preacher and Khalistan sympathiser, has been arrested by the Punjab Police after a dramatic chase, NDTV reported citing sources. Punjab police on Saturday suspended internet services in several parts of the state as Amritpal’s associates started circulating frantic videos appealing to supporters to reach Shahkot. Police personnel from seven districts chased Amritpal Singh and his […]
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When does doing a little work on vacation turn into a stay that piques the interest of local tax authorities? And does a UK company, for example, face tax complications abroad if they have staff and key decision makers are dotted across Europe working remotely? National tax authorities and the Organization for Economic Cooperation & Development are grappling with those questions […]
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Air India on Friday made a voluntary retirement offer for its non-flying staff, the second such offer by the Tata Group after taking control of the loss-making airline in January last year. The latest offer will be available for permanent general cadre officers who have attained the age of 40 years or above and completed a […]
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Reserve Bank governor Shaktikanta Das on Friday cautioned banks against any build-up of asset-liability mismatches, saying both are detrimental to financial stability and hinted that the ongoing crisis in the US banking system seems to have emanated from such mismatches. Delivering the annual KP Hormis (Federal Bank founder) commemorative lecture in Kochi this evening, the governor was […]
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The European Central Bank has carried through with a large interest rate increase Thursday, brushing aside predictions it might dial back as U.S. bank collapses and troubles at Credit Suisse fed fears about the impact of higher rates on the global banking system. The ECB hiked rates by half a percentage point Thursday, underlining its determination to […]
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In an unexpected move, Tata Consultancy Services (TCS) Managing Director (MD) and Chief Executive Officer (CEO) Rajesh Gopinathan on Thursday decided to step down to pursue other interests. He has been with the company for over 22 years. The board of directors considered his request to be relieved of his positions, and accepted it. It has nominated K Krithivasan […]
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