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Asian markets: Growth worries spur bonds, set to restrain stocks
Asian markets will open Thursday against the backdrop of a rally in Treasuries that was triggered by economic concerns after Federal Reserve Chair Jerome Powell acknowledged the risk of a recession. Read more
Govt may curb atta exports after imposing wheat ban
Wheat should not be converted to “excessive" amounts of atta for exports as wheat is a regulated commodity, food secretary Sudhanshu Pandey said on Wednesday, indicating a possible curb on wheat flour exports. Read more
India and China may be buying more Russian oil than we believe, says US
China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said. Read more
SBI gears up to fight merged HDFC Bank
State Bank of India (SBI) is taking steps to take on the combined strength of Housing Development Finance Corp. (HDFC) and HDFC Bank, following the merger, chairman Dinesh Khara told shareholders on Wednesday. Read more
More rate hikes in store, MPC warns of economic slowdown
More interest rate hikes are coming and the resulting spending squeeze will slow down the economy, members of the Reserve Bank of India’s Monetary Policy Committee noted, as the central bank joins a global war against inflation. Read more
Can India turn itself into the next global manufacturing hub?
The first dialogue of Zetwerk Smart Manufacturing Summit 2022, titled ‘Shaping the Future of Manufacturing: Resilience in Supply Chain," saw a cross section of thought leaders from the world of manufacturing come together to discuss what the country needs to get a spot on the global manufacturing map, the roadblocks in the journey, the way forward and the role of supply chain resilience in it. Read more
Centre notifies rules on TDS provision on virtual digital assets
Central Board of Direct Taxes (CBDT) has amended income tax rules to specify ways to comply with the new tax deducted at source (TDS) provision on virtual digital assets (VDAs) that kicks in from 1 July. Read more