The Times Of India Business
India likely to remain fastest growing major economy: RBI governor Das
Reserve Bank Governor Shaktikanta Das on Saturday exuded confidence that India will continue to be the fastest growing major economy with a likely growth rate of 7 per cent in 2022-23 on the back of strong macroeconomic fundamentals and financial sector stability. Das said the entire world has withstood multiple shocks. "I call it triple shocks of COVID-19 pandemic, then the war in Ukraine, and now the financial market turmoil."
Sensex hits one year high, nears record peak of 62,000
The sensex hit a one-year high on Friday, mainly on the back of an overnight rally in the US markets, which was triggered by moderating inflation in the world’s largest economy, and closed nearly 1,200 points or 2% up at 61,795.
Rupee gains by 100 paise, records best week in 4 years
The rupee rallied by 100 paise to close at 80.81 against the dollar after the greenback weakened following lesser-than-anticipated inflation in the US. The currency opened 110 paise higher at 80.71 — the biggest gap opening in nearly a decade. It touched an intraday high of 80.
Embattled crypto exchange FTX files for bankruptcy
Embattled cryptocurrency exchange FTX, short billions of dollars, is seeking bankruptcy protection following its collapse this week.FTX Trading said in a press release Friday that CEO and founder Sam Bankman-Fried has resigned. FTX also said Bankman-Fried's Alameda Research hedge fund is among the entities filing for Chapter 11 in Delaware.
CREDAI pledged net zero by 2050 at NATCON 2022 in Abu Dhabi
Against the backdrop of the on-going climate summit, COP27, the Confederation of Real Estate Developers' Associations of India (CREDAI), the apex body of private real estate developers in India, announced that it would achieve its net zero target by 2050 at its annual event NATCON 2022 at YAS Island Abu Dhabi on Friday.
LIC net profit soars to Rs 15,952 crore in September quarter
State-owned insurer LIC on Friday reported a multi-fold jump in net profit to Rs 15,952 crore in the September quarter, boosted by profits from its investments. The insurer had a net profit of Rs 1,434 crore in the year-ago period, according to a regulatory filing. Its total premium income rose to Rs 1,32,631.72 crore in the second quarter of the current fiscal from Rs 1,04,913.92 crore in the same period a year ago.
RIL to develop multi-modal logistics park in Tamil Nadu: Govt
Reliance Industries Ltd (RIL) has been awarded the work to develop the first multi-modal logistics park (MMLP) at Mappedu in Thiruvallur district of Tamil Nadu, the government said on Friday. MMLP Chennai at Mappedu is being developed in an area of 184.27 acres.
Sensex, Nifty zoom nearly 2% amid rally in global stocks
Equity benchmarks sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said.