7th Pay Commission: DA hike announced, know new rate, salary calculation, latest updates

Before the 4 increase the effective DA of the central government employees and pensioners stood at 34 Now this has increased to 38

Gauging the slowdown in China

It has now been well established that the US Fed’s primary focus is combating inflation. However, this is expected to come at a cost of a slower economic growth. Policy tightening by developed markets’ central banks continue to take the centre stage. Alongside, the hurdle is in Chinese economy which continues suffering. This is evident in its plummeting real estate prices, power crunch due to abnormally hot weather with lack of rainfall and...

RBI’s 50 bps Hike on Cards; Sweet Spot for Nifty 50 Bottom?

The Reserve Bank of India (RBI) is all set to continue the trend of increasing interest rates on 30 September 2022 when it is expected to go for a 50 bps hike which would shoot the current repo rate of 5.4% to 5.9%. The RBI has already increased 140...

Europe braces for mobile network blackouts

Russia's decision to halt gas supplies via Europe's key supply route in the wake of the Ukraine conflict has increased the chances of power shortages.

How Facial Recognition At Bihar ULB Polls Will Work

It is not clear whether a voter will be allowed if he or she does not provide consent to undergo facial recognition.

Startups pay engineers more than Infosys and Wipro but layoffs, fund crunch blemish rosy picture

Charged up by record funding worth $36 billion in 2021, Indian startups raised salaries for staff by a whopping 43 per cent that year. But the euphoria among investors soon fizzled out, giving way to a 90 per cent drop in funding for July 2022 and a 73 per cent dip in August. But even as only 57 out of 100 unicorns in India are making losses, start...

China tells state banks to prepare for a massive dollar dump and yuan buying spree as Beijing's prior interventions have failed to stem its currency's worst year since 1994

The amount of dollars to be sold hasn't been decided yet, but Reuters said it will primarily involve state banks' currency reserves.

Paul Krugman, Mohamed El-Erian, and Nouriel Roubini are tearing into UK leaders whose spending plans upended markets. Here's what the 3 top economists have said.

Krugman dismissed planned tax cuts as "deeply stupid," El-Erian called them "unsettlingly large," and Roubini warned they could result in stagflation.

Google translate to foray into Sanskrit with AI

New Delhi: Google’s new foray is into Sanskrit. After an agreement with the ministry of external affairs' Indian Council for Cultural Relations or ICCR, Google will have one million sentences in Sanskrit and their translations into English available, Dr Manish Gupta, a senior Google official said today. The sentences will include not just material ...

Trade setup for Sept 30: Nifty50 may slip below 16,800 soon as market enters October F&O series

Indian equity benchmarks gave up initial gains in a volatile session on Thursday, as fag-end selling pressure in financial stocks sent the market tumbling into the red. The Nifty50 ended the September F&O series four percent lower — its worst performance in a monthly series since May. All eyes are now the outcome of a three-day meeting of the RBI's rate-setting panel that ends on Friday. Economists in a CNBC-TV18 poll expect the central bank to...

Retail investors are about to throw in the towel and finally sell if Apple and Tesla stumble, Vanda Research says

"A positioning puke in these two stocks could be the coup de grace for retail investors' profit and losses," Vanda said.

The UK should ditch tax cuts, hike rates, and accept a deeper recession to avoid higher inflation, Mohamed El-Erian says

An aggressive rate hike could cause a recession, but the UK is past the point of hoping for a soft-landing, Mohamed El-Erian warned.

Despite the looming global recession, this expert believes India's exports industry is safe

Sunil Talati, Chairman, Services Export Promotion Council (SPEC), an export promotion council set by the government, told BT that exports-led growth is usually a challenge during recession, but India is in a good place compared to the bigger economies.

RBI Monetary Policy Meeting: Zee Business poll - experts see 50 bps hike

RBI Monetary Policy Meeting: Experts unanimously agreed that there will be 0.5% increase in the repo rate this time. If this happens, it will take the key rate to a three-year high of 5.9%.

Noida International Airport: All you need to know - Design, Features, Capacity and more

Noida International Airport is set to be the most modern facility in UP; Here's all you need to know - Design, Features, Capacity & more.

US economy drops at 0.6% annual rate from April through June

Consumer spending grew at a 2% annual rate, but that gain was offset by a drop in business inventories and housing investment.

Garuda Aerospace gets DGCA nod to train drone pilots

CHENNAI: Drone company Garuda Aerospace said on Thursday it has received the required approvals from the Directorate General of Civil Aviation (DGCA) thus becoming the 31st Remote Pilot Training Organization (RPTO) in India. The drone-as-a-service company now aims at training one lakh youths in 755 districts for the correct use of drones for agricu...

Immersive View, Neighborhood Vibe and more updates coming to Google Maps soon

The company will launch new Maps features called Immersive View, Neighborhood Vibe and Search with Live View.

Mumbai: BEST to roll out E-Bikes services from October

The Brihanmumbai Electric Supply and Transport (BEST) Undertaking has announced a full scale roll out of their E-Bikes services for first and last mile connectivity across Mumbai on Thursday. Through these services, 1,000 E-Bikes will cover the commercial and residential areas between 180 bus stops from October. Passengers alighting from buses can ...

Why Kotak’s promotion of officials fined by Sebi has raised a stink

On September 23, Kotak Group announced a raft of changes in its asset management team. It promoted Lakshmi Iyer as CEO of the investment advisory business at Kotak Investment Advisors Limited (KIAL). Deepak Agarwal was promoted to lead the fixed income Investment team as Chief Investment Officer, Fixed Income, at Kotak Mahindra Asset Management Co while Abhishek Bisen was elevated to Head, Fixed Income. These changes will take effect on November...

China on threshold of top 10 most innovative economies: WIPO

A girl looks at a surgery robot during an expo of the World Robot Conference 2022 (WRC 2022) in Beijing, capital of China, Aug. 18, 2022. (Xinhua/Ren Chao) China, having ranked 14th and 12th in 2020 and 2021, respectively, steadily rose to the 11th place in 2022, and is now on the doorstep of the world's top 10 most innovative economies. GENEVA, Sept. 29 (Xinhua) -- China has moved up to 11th place in the 2022 Global Innovation Index (GII) and...

This Sachin Tendulkar and Adar Poonawalla backed company will build your metaverse for you

New-age digital entertainment and technology company JetSynthesys has announced the acquisition of Metaphy Labs — an end-to-end solution provider for brands to create their own metaverse capabilities in the Web3 space. With Metaphy Labs, JetSynthesys says it aims to facilitate the democratisation of the metaverse experience by providing ‘metaverse as a service’ (MaaS) to brands, helping them build their own virtual worlds, replete with meta...

Russia to counter US sanctions; will make 1000 planes to rival Boeing, Airbus by 2030

Based on Reuters' report, the task will be undertaken by Rostec which will build aircraft with local parts to manufacture planes to replace Boeing and Airbus planes in the Russian fleet.

People are waiting to see you fall, immense pressure on women: Naina Lal Kidwai

Naina Lal Kidwai, former president of FICCI, in an exclusive conversation with Udayan Mukherjee, opened up about the role of women CEOs, the pressures of balancing family and work, and many more.

Japanese conglomerate SoftBank to lay off 30% staff globally: Report

The layoff move comes after SoftBank's subsidiary the Vision Fund suffered a record $50 billion loss in the six months through June. SoftBank CEO Masayoshi Son's faced huge losses in some of his tech bets.

Festive sales: E-commerce firms sold 11,000 cr worth of mobile phones in 4 days

Almost 60-70 lakh mobile phone units were sold on Flipkart, Amazon, and other e-commerce platforms in the festive sales. Fashion was the next best-performing category, clocking Rs 5,500 crore worth of sales.

Flipkart Big Billion Days sale ends on September 30: iPhone 13 at Rs 58,900, and other 5G phone deals

Flipkart Big Billion Days sale ends on September 30: Here's a quick look at all the 5G phone deals that you shouldn't miss at this year's Diwali sale.

ED freezes bank accounts of OctaFX in illegal forex trading case

The Directorate of Enforcement (ED) on Thursday said it has frozen the account balance to the tune of Rs 21.14 crore of OctaFX India Private Ltd and related entities in a case related to the violation of FEMA regulations.

SpeakIn launches GROW, a digital coaching platform

SpeakIn GROW can be subscribed to by businesses for their employees or by individual professionals looking to learn 1:1 from an inaugural price of $49 per annum.

70% of people in rural India are concerned about their financial situation: Report

According to a report by Kantar and Dialogue Factory, there has been over a five percent decline since December 2021 in the monthly purchase incidence for essential categories in rural India

CCI approves DB Power acquisition by Adani Power

The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of 100 per cent share capital of Diligent Power Private Limited and DB Power Limited by Adani Power Limited.

Centre finalises Rs 14.21 lakh crore borrowing programme for FY23

Out of the finalised amount of market borrowing worth Rs 14.21 lakh crore, the balance amount of Rs 5.92 lakh crore (41.7 percent of Rs 14.21 lakh crore) is planned to be borrowed in the second half of the ongoing fiscal year through dated securities.

Interest rates on some small savings schemes hiked by up to 30 bps for Q3

With this, a three-year time deposit with post offices would yield 5.8 percent from the existing 5.5 percent. Senior Citizen Savings scheme will earn 20 basis points more to 7.6 per cent from the existing rate of 7.4 per cent during the October-December period, the notification said.

U.S. Stocks Fall as Fears of Economic Slowdown Return

By Liz Moyer -- U.S. stocks fell at the opening amid recurring fears about aggressive actions by central banks to curb inflation. At 9:47 ET (13:47 GMT), the Dow Jones Industrial Average was down 313 points, or 1%, while the S&P 500 was...

China rolls out measures to tackle housing challenge

A worker works at the construction site of a residential area in Jiangdong New Area of Haikou, south China's Hainan Province, Sept. 2, 2022. (Xinhua/Yang Guanyu) BEIJING, Sept. 29 (Xinhua) -- Some halted housing projects in China have resumed construction as local governments and financial firms are helping out real estate developers with liquidity-activating solutions. The solutions come in different forms ranging from relief funds, policy...

How fintechs can penetrate deeper into MSME lending than banks

Credit and finance for MSMEs: According to the World Bank, out of some 58 million MSMEs in India, more than 40 per cent lack access to formal sources of finance.

Apple Vs Microsoft Vs Saudi Aramco: How the market cap dominance was lost and regained

Over the past 10 years, Apple has continuously held the position of the world’s most valuable public company.

India's current account deficit widens to 2.8% of GDP in Q1 FY23

As per the data released by the Reserve Bank on India’s Balance of Payments during the April-June quarter of 2022-23, the current account balance recorded a deficit of $23.9 billion, which comes to 2.8 percent of the country’s GDP, in the first quarter, up from $13.4 billion (1.5 percent of GDP) in the January-March period of the last fiscal.

Global Markets: Dollar dishes the pain as selloff rumbles on

China currency intervention talk was gathering momentum too while Europe's government bond markets were braced for the highest German inflation reading since the 1950s.

Tokens are set to replace card info for online payments from October 1, here’s how to adapt to it

Every time you make a purchase from a new website, they ask for your name, credit or debit card number and CVV, before you wait for an OTP number to complete the transaction. This is why it helps when top platforms such as Amazon, Netflix and Myntra save your info, to process future transactions swiftly. But the sensitive information stored on thes...

Banking stocks weigh on market on expiry day but analysts siding with fundamentals

[wealthdesk shortname="Axis Bank" isinid="INE238A01034" bseid="532215" nseid="AXISBANK" sector="Banks - Private Sector" exchange="nse"] Financial stocks succumbed to selling pressure in the second half of a volatile session on Thursday, leading the benchmark indices into the red on the last day of the September derivative series. Nervousness also persisted ahead of the outcome of a key meeting of the RBI's rate-setting panel. However, many...

Rs 824 crore GST fraud detected; ICICI Prudential among 15 insurance firms under scanner

The probe revealed that ICICI Pru had availed and utilised ineligible ITC without the underlying supply of goods or services. "They have voluntarily paid Rs 100 cr in cash under section 74(5) of CGST Act, 2017 during the investigation," the statement said.

Indian markets end flat: Sensex down 188 pts, Nifty down 41 points

The benchmark indices on Indian equity markets closed flat on Thursday, due to the selling pressure prevalent in global markets. The S&P BSE ended 0.33 per cent lower at 56,409 level, 188 points down from the previous session while Nifty50 closed at 16,818, down 41 points.

Germans will face a gas shortage this winter unless they use less energy - while a new price cap could encourage more consumption

"Without considerable savings, also in the private sector, it will be difficult to avoid a gas shortage this winter," a German regulator said.

Techie held for creating Sriram Raghavan’s fake instagram profile to take advantage of female models

Mumbai: Mumbai police have arrested a 31 year old Tami Nadu techie for allegedly creating fake profile of director Sriram Raghavan, with intentions to take advantage of aspiring female models. The police added that the techie used to interact with the models and used to ask them to take part in photo shoots as part of ‘auditions’ for a web series t...

I'm a 62-year-old Instagram influencer who also owns a PR firm. I worried what my clients would think, but being on social media has actually helped my career.

@SilverDisobedience's Dian Griesel bucks the trend of having to be young to be successful online. It's landed her five-figure deals and new PR clients.

UK prime minister says pound's slump is due to fallout from Russia-Ukraine war as she defends tax cuts in aftermath of market turmoil

UK's prime minister defended the tax cut plan slammed by economists this week, noting that "currencies are under pressure around the world."

Indifi disbursed loans valuing Rs 2800 crs to more than 30,000 MSMEs

Credit and Finance for MSMEs: Indifi’s focus is on embedded finance where it partners with ecosystem players such as Facebook, Google Pay, Myntra and others and offers credit to the sellers on those platforms.

Crude Oil Stabilizes; OPEC+ Meeting Next Week Looms Large

By Peter Nurse -- Oil prices stabilized Thursday as traders balanced falling U.S. inventories, a strong U.S. dollar, the passing of Hurricane Ian, heightened geopolitical tensions, and an upcoming OPEC meeting. By 09:25 ET (13:25 GMT),...

New User-friendly Phone App UI Being Tested By Google

Google Phone app beta has introduced a new UI for some Pixel users. Here's what is new.