Friday, Aug 12, 2022 | Last Update : 02:55 AM IST

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Economy

Union Finance Minister Nirmala Sitharaman in the Rajya Sabha, during ongoing Budget Session of Parliament, in New Delhi. (Photo: PTI)

Retail inflation contained at 6.2% despite biggest contraction in economy: Sitharaman

The finance minister stated that the objective of the budget is a stable and sustainable recovery in the economy

Pandey said that the government is expecting disinvestment of BPCL in the last quarter as well. (Photo- BPCL)

After Air India, govt to disinvest BPCL, float LIC IPO by last quarter of FY22

Bharat Petroleum Corporation Ltd (BPCL) is another company that is on the divestment list of the government

RBI Governor Shaktikanta Das. (PTI Photo)

RBI cuts growth outlook, interest rate unchanged

Market interest rates will start increasing at a faster pace now which is positive for savers, especially the depositors

Under GST, essential items are either exempted or taxed at the lowest rate while luxury and demerit items attract the highest tax. (ANI)

5 per cent GST rate may give way for 3%, 8% slabs

Every 1% increase in 5% slab, which mainly includes packaged food items, would roughly yield an additional revenue of ₹50,000 Cr annually

Reserve Bank of India. (AA file photo)

RBI hints at end to low interest regime in June

Central bank may shift its focus to taming inflation

Market

The Sensex came very close to the 62000 mark but profit taking pared gains to 459.64 points. (Photo: PTI/File)

Market enters overbought zone

The domestic economic indicators continue to show recovery from the pandemic

Petrol price was hiked by 30 paise per litre and diesel by 35 paise a litre. (PTI Photo)

Fuel price hike: Mumbai becomes first metro city to see diesel price cross Rs 100

The price of petrol in Delhi rose to its highest-ever level of Rs 103.84 a litre and Rs 109.83 per litre in Mumbai

 Oil prices struggle to hold five-month high amid pandemic worries. (AFP Photo)

Oil prices struggle to hold five-month high amid growing demand fears

Investors remained wary of rising refined product inventories at a time when US bankers said rise in cases was slowing the economic recovery

 Sensex surges nearly 400 pts in early trade; Nifty tops 11,500. (PTI Photo)

Markets open in green, Sensex up 400 points; Nifty above 11,500

IndusInd Bank was the top gainer in the Sensex pack, surging around 4 per cent

Companies

Reliance said in a stock exchange filing on Saturday its industrial investments subsidiary will acquire Cayman Islands-based Columbus Centre Corp (Cayman) for an equity value of approximately $98.15 million. (Reuters Photo)

Reliance to buy control of Mandarin Oriental New York in $98 mln deal

The closing of the transaction is anticipated by the end of March 2022, the company said

The company has decided to reserve 10 per cent of shares on the offer for its policyholders under the policyholder reservation portion. (Wikipedia)

LIC IPO a treat for policyholders

With the LIC IPO coming up, there has been a spurt in opening of demat account recently

The Play Pass collection will include titles from sports, puzzles, or action games. (Photo: Twitter)

Google launches Play Pass in India to offer over 1,000 apps without ads

The Play Pass feature will be rolled out across the country during the week

Paytm had posted a loss of Rs 436.7 crore in the same quarter a year ago, according to an exchange filing. (PTI Photo)

Paytm Q2 loss widens to Rs 473 crore

Shares of the company closed at Rs 1,781.15 apiece, down by 0.86 per cent on the BSE on Friday

India and Vietnam, which are already sites of Apple production, are among the countries being seen as an alternative option to China, the report added. (AFP)

Looking beyond China, Apple plans ramping up production in India: Report

India made 3.1 per cent of the world's iPhones last year, and the proportion is expected to increase to 6 per cent to 7 per cent this year

Autos

Mercedes-Benz AMG A 45 S 4MATIC+. (Photo: Twitter)

Merc drives in compact car

Mercedes-Benz on Friday launched its performance-oriented compact car AMG A 45 S 4MATIC+ priced at Rs 79.50 lakh at pan-India showroom

 Auto component industry likely to witness double-digit degrowth in FY21. (PTI Photo)

Auto component industry likely to witness double-digit degrowth in FY21

India exports around 12 percent of the total auto components to economies with reliance on crude oil such as Africa and Latin America

 Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, lost 1.91 billion euros in the second quarter. (AFP Photo)

Daimler Q2 loss widens on weak demand

CEO Ola Kallenius said it had worked to preserve cash reserves during a difficult time and was seeing “the first signs of a sales recovery”

The 'foldable steering system' is movable to forward and back by up to 25cm. (Photo - Hyundai Mobis)

Hyundai Mobis develops a foldable steering wheel system for self-driving car

The SBW is a high-tech control system that transmits steering power generated from the steering wheel to wheels through electronic signals

In Other News

Any recoveries made as a result of avoidance applications should go to the creditors of Dewan Housing Finance Corp and not to the successful bidder—Piramal Group, the NCLAT ruled. —  DC Image

NCLAT asks CoC to consider 63 Moons appeal in DHFL resolution

63 Moons said the CoC has to reconsider the provision of Sec 66 of IBC, which mandates that the benefit should go to all the DHFL creditors

Around half of the trade agreements concluded between different countries in the last decade (2011-2020) contained labour provisions. However, only 22 per cent of the agreements signed in the previous decade (2001-2010) had those provisions. —  Representational image/By arrangement

Trade pacts junk labour provisions

The ILO Centenary Declaration for the Future of Work (2019) calls for countries to place decent work as a central objective of trade policy

Prime Minister Narendra Modi. (Photo: PTI/File)

PM Modi to launch RBI’s retail direct scheme

As per the scheme, investors will be able to directly open and maintain their government securities account free of cost

Indian Youth Congress (IYC) activists during a protest against the recent price hike of fuel, diesel and the Liquefied Petroleum Gas (LPG) cylinder near India's petroleum minister Hardeep Singh Puri's home, in New Delhi. (PTI/File)

Small LPG cylinder sale via ration shops on anvil

The moves come amidst indications that the Centre is planning to raise LPG prices in the first week of November

These are the first direct flights between Australia and south India by any airline, cutting almost three hours off the current fastest trip between Bengaluru and Sydney. (Representational image: DC)

Qantas to start first Sydney-Bengaluru flight from September

Qantas will operate four weekly return flights between Kempegowda International Airport and Sydney’s Kingsford Smith International Airport