Reliance Jio Hikes Tariffs For Prepaid Plans Days After Vodafone Idea, Bharti Airtel
On November 29, Reliance Jio announced an increase of 19.6 to 21.3 percent in its prepaid tariffs starting December 1. The tariff hike is expected to impact the JioPhone plan, unlimited plans and data add-ons. Customers can opt for Jio for the new unlimited plans from existing touchpoints and channels. The latest announcement comes days […]
Reliance Industries Board Moves To Repurpose Gasification Assets
Reliance Industries Ltd (RIL) has informed in an exchange filing that the company will restructure and repurpose its gasification assets. The Mukesh Ambani-led company’s board decided to implement a ‘Scheme of Arrangement’ to transfer the ‘Gasification’ undertaking into a wholly-owned subsidiary (WOS). The board approved it given a growing concern on a slump sale basis […]
India, US Move To Reduce Trust Deficit Over Trade Ties
At the primary Trade Policy Forum assembly on November 23 in New Delhi, India’s Commerce and Business Minister Piyush Goyal and US Trade Representative Katherine Tai discussed improving the trust deficit over India-US trade. The US has accepted to ease guidelines on the export of mangoes and pomegranates. In return, India will permit cargo of […]
Indian Bonds Fall, Rupee Weakens For Second Day After Fed Chairman’s Reappointment
On November 23, the Indian rupee weakened against the US dollar and Indian bond prices fell as investors bet on the implementation of stricter policy measures by mid-2022 by the US Federal Reserve following the announcement of Jerome Powell’s second term as chairman. The rupee continued its losses this week and fell by 0.1 percent […]
RBI May Launch Digital Cryptocurrency Pilot In 2022
A senior central bank officer at the State Bank of India’s Banking and Economic Conclave has said that India’s central bank, the Reserve Bank of India plans to launch the country’s first digital currency in the first quarter of the next fiscal year. Countries that issue such digital currencies under the central bank are often […]
China Overtakes The US As Global Net Worth Increases
Over the last two decades, global wealth tripled to $514 trillion in 2020 from $156 trillion in 2000, according to a new report by McKinsey & Co’s research arm of consultants. China accounted for almost one-third of the surge with its wealth growing to $120 trillion from $7 trillion in 2000, the year before it […]
Paytm IPO Receives Lukewarm Response, Termed A “Very High-Risk Bet”
Mobile wallet company Paytm released an initial public offering (IPO) on November 8, comprising an offer-for-sale of Rs 10,000 crores and a fresh issue of shares worth Rs 8,300 crores. The public issue could prove to be a “very high-risk bet” and may not experience a significant increase once listed on the stock exchange, said […]
China Releases Diesel And Gasoline Reserves To Meet Demand, Oil Prices Fall
According to the National Food and Strategic Reserves Administration, on October 31, China released reserves of gasoline and diesel to boost market supply and ensure price stability of regions within the country. On November 1, the oil prices fell after China released the reserves due to the recent supply and demand situation in the domestic […]
Nordic Countries Experience Steady Economic Growth After Lifting COVID Rules
According to a recent Reuters poll of economists, the Nordic economies have been on a path of steady economic recovery after the pandemic rules were lifted. There has been a boost in consumer and corporate spending as well as soaring employment rates. The Danish economy is experiencing economic growth of higher than 2019 levels, and […]
Investigations On Pandora Papers’ Findings Gather Momentum
A multi-agency group (MAG) consisting of officials from the Enforcement Directorate, the Reserve Bank of India and the Financial Intelligence Unit, held the first preliminary meeting on the Pandora Papers investigation last week. The MAG meeting was chaired by the Central Board of Direct Taxes chairman, J.B. Mohapatra. According to ANI sources, “Only a few […]
