Businesses can no longer make their investment decisions just on the basis of policies or by openness of an economy, but have to take into account the additional factor of terrorism, finance minister NIRMALA SITHARAMAN said Friday. She also said the Government will ensure the burden of servicing debt is not passed on to the next generation.
EXPERT GROUP SUGGESTS CHIP RESEARCH CENTRE WITH $8 BN OUTLAY OVER 5 YEARS
AN ELECTRONICS and IT ministry-backed expert panel has recommended setting up a semi-conductor research Centre with an initial investment of around $8 BILLION ( about 66,500RS. CRORE ) over the next five years.
He said that the proposed CENTRE will be a global institution in chip research. “I’m hopeful that in the year 2024, we should have the beginning of this institution taking shape,” Chandrasekhar said.
RATE CUTS NOT ON AGENDA, RBI REMAINS ‘EXTRA VIGILANT’ ON INFLATION, SAYS DAS
STATING THAT interest rates cuts are not on the agenda of the Reserve Bank Of India (RBI), Governor SHAKTIKANTA Das on Friday said the CENTRAL bank remains “extra vigilant” about inflation. Das said monetary policy must remain “actively disinflationary” in the current situation, adding that financial stability is non-negotiable.
INDIA MOST PREFERRED EMERGING MARKET, SAYS MORGAN STANLEY
EVEN AS the BSE SENSEX fell over 1,000 points in the last four sessions, US investment bank Morgan Stanley said it has increased its overweight (OW) stance on the INDIAN equity market, terming it as its most preferred emerging market.
GOOGLE PUSHES DEEPER INTO AI, PUBLISHERS SEE FRESH CHALLENGES
YOU MAY never have to read an-other news story in your life, if you have artificial intelligence that can digest all the web’s information and serve up a summary on demand. That’s the stuff of nightmares for media barons as Google and others experiment with what’s called generative AI, which creates new content drawing from past data.
FOREX RESERVES HALT FIVE-WEEK LOSING STREAK
Foreign ex-change reserves snapped a five-week losing streak and rose to $585.9 billion as of October 13, RBI data showed Friday. Reserves rose $1.16 billion from an over five-month low in the previous week. Forex reserves had declined $14.2 billion in the previous five weeks.
ADANI GETS $3.5 BN LOAN TO REFINANCE DEBT FROM DEAL FOR ACC, AMBUJA
The CEMENT business of billionaire Gautam Adani’s flagship group said Friday it had secured a new $3.5 billion loan to refinance debt it had taken to buy ACC LTD and AMBUJA CEMENTS last year. Adani Cement plans to increase it cement manufacturing capacity to 100 million TONNES per year by 2025 from 67 MTPA currently.