Credit card spending dropped 11 per cent sequentially in November at Rs 1.15 trillion, but topped Rs 1 trillion for the ninth month straight, data from the Reserve Bank of India (RBI) showed as the festive season ends and consumption activity slows down. Year-on-year (YoY), spending was up 29 per cent. Card spends have consistently topped the Rs 1 trillion mark, led by the rising share of e-commerce transactions.
A decline in demand from six of India's top 10 import partners -- China, Saudi Arabia, Iraq, South Korea, Australia, and Singapore -- resulted in India's imports hitting a 17-month low of $50.6 billion in January, showed the data compiled by the department of commerce. Shipments from South Korea, Australia, and Singapore declined by 14.1 per cent, 26.7 per cent, and 9.8 per cent, respectively. Among the 10, growth in inbound shipment was seen only in the case of the United Arab Emirates (12.1 per cent), the US (27.4 per cent), Russia (297.4 per cent), and Indonesia (22.9 per cent).
India's manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 57.8 in December, up from 55.7 in November, as business conditions improved to the greatest extent in over two years. The December PMI data pointed to an improvement in overall operating conditions for the 18th straight month.
IPL can be truly said to have come of age. It is now more Indian than ever before. Teams often fielded fewer than the four allowed foreign players. Indian batters and bowlers were simply better in performance, consistency and reliability, points out Shreekant Sambrani.
Social activist Amit Koul, who was part of the delegation, said they have invited Gandhi to their Jagti township along the Jammu-Srinagar National Highway and that he is likely to visit the community on his way to Kashmir.
With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country in FY23 until February 21. Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22.
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
Milwaukee led by 18 in the third quarter before Philadelphia used a 23-9 run to tie the game at 108 mid-way through the final period.
Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
In the weeks before their next exam, stressed-out college students may wish to add walnuts to their daily diet.
Gandhi, who met a cross section of people from Jammu and Kashmir during his yatra, said J-K has the highest level of unemployment in the country.
Reigning Paris Masters champion Novak Djokovic beat Stefanos Tsitsipas in a three-set epic on Saturday to set up a title clash with Holger Rune, who reached his first ATP Masters 1000 final after a comfortable win over Felix Auger-Aliassime.
Colleagues and friends attend a funeral ceremony for Ukrainian soldier and ballet dancer Vadym Khlupianets, who was recently killed by Russian troops, at the National Academic Operetta's Theatre in Kyiv.
Dembele was dropped by manager Xavi Hernandez amid his contract standoff with Barcelona before he returned to the team in February and finished the campaign with 32 appearances in all competitions.
The Congress said the foot march, being led by party leader Rahul Gandhi, will proceed according to its schedule and reach Jammu on Monday afternoon.
The total number of classified documents found in the residences and private offices of Biden has now increased to nearly a dozen and a half. All documents, including from his term as vice president from 2009 to 2016, have now been taken into possession of federal agents.
The police on Sunday said that they received the autopsy report late on Saturday and it also confirmed that the girl had been raped.
Ride-hailing app Uber is selling off its entire holding in Indian food delivery company Zomato for at least $373 million (Rs 2,939 crore) through a block deal of shares, merchant banking sources said on Tuesday. The development comes on a day when the Zomato scrip witnessed a nearly 20 per cent surge to close at Rs 55.60 apiece on the BSE. The sources said the offer price range for the deal to be carried out on Wednesday will be between Rs 48-54 per share.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
KL Rahul is expected to lead the Indian side.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
India's goods and services exports have already crossed $675 billion in last fiscal year and the country is now aspiring to take international trade to $2 trillion by 2030, Commerce and Industry Minister Piyush Goyal has said. Interacting with faculty, researchers, and students at the Stanford University here, Goyal also said by the time India would celebrate the 100th anniversary of its independence, it would be a $30 trillion economy. "...by 2047-2050 period, when India would be completing 100 years of Independence, we will be at least a $30 trillion economy on a business as usual scenario and possibly a $35-45 trillion economy if some of the aggressive plans that the government is putting together work well.
In a stock exchange filing, Adani Enterprises Ltd said VCPL has urged SEBI "to provide its observations on the draft letter of offer filed in relation to the open offer, in accordance with the SEBI (SAST) Regulations."
The number of people living in England and Wales identifying as Christian has fallen below half the population for the first time, while those identifying as Muslim or Hindu have registered a small rise, according to the latest census figures released on Tuesday.
Mumbai sealed a five-wicket win over Vidarbha in the second semi-final clash at Eden Gardens
Pakistan will join India, England and New Zealand in the semi-finals
Gill, on Monday, slammed 130 off 97 balls with the help of 15 boundaries and one six to steer India to a 13-run win and a 3-0 series sweep against Zimbabwe.
India batted poorly to be all out for 124 in 19.4 overs after Pakistan posted a modest 137 for six.
Shai Hope will be Pooran's deputy.
A dejected Mumbai Indians captain Rohit Sharma rued his side's top-order woes in IPL 2022 but could only admire veteran Mahendra Singh Dhoni for his match-winning knock on Thursday.
India women's team head coach Ramesh Powar is hardly perturbed by the 13-run defeat against Pakistan in the Asia Cup as the team management's primary aim was to test the temperament of the younger lot in a pressure situation.
IMAGES of the T20 World Cup match played between England and Afghanistan at the Perth Stadium on Saturday
Vice President Dhankar's and Law Minister Rijuju's recent interventions have the danger of destabilising the Constitutional equilibrium, cautions N Sathiya Moorthy.
Rashtriya Janata Dal chief Lalu Prasad had a narrow escape on Tuesday morning after a fire that broke out in a room of the circuit house in Jharkhand's Palamu district where he was staying was doused in time, officials said.
Led by healthy growth in coal, crude oil, fertilisers, cement and electricity production, output of eight core industries grew to a 13-month high of 18.1 per cent in May this year, according to official data released on Thursday. The growth of core infrastructure sectors expanded by 16.4 per cent in the year-ago period and 9.3 per cent in April this year. The last high growth was recorded in April 2021 when it was 62.6 per cent.
The BJP hopes that any vote AAP gets should only be from the Congress. At the same time, it does not want AAP to get too much of it. Because, a declining old opponent is a blessing as much as a rising new rival is a threat, points out Shekhar Gupta.
A sharp rally in domestic stocks from June lows has once again rendered Indian markets expensive to their emerging-market (EM) peers. The 12-month forward price-to-earnings (P/E) multiple for the Nifty50 Index is around 20.6x - 82 per cent higher than 11.3 per cent for the MSCI EM Index. India's valuation premium has hit a five-month high. This is on the back of sharp outperformance to EM and global peers from June lows and also due to earnings downgrades, following the April-June quarter of 2022-23 earnings.
Love stories, superheroes, family dramas, kiddie flicks, whodunits, rom-coms, Sukanya Verma lists your OTT menu for the week.
Xiaomi will strengthen its product portfolio and launch 5G devices in the sub-Rs 15,000 segment as it looks to increase its market share in the segment. Xiaomi led the shipments in overall smartphone category in 2021 with a 24 per cent share, according to Counterpoint Research. However, in the 5G segment it is ranked fourth behind One Plus, Samsung, and Vivo, with a 13 per cent share.
Gill revealed that he got a bit of 'schooling' from his dad after he got out cheaply in the second ODI two days back.
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