April 3, 2023 by BizWhiz Admin in Economy Snapshot 0 comments 257

General News

  • Karnataka Assembly Elections to take place on May 10, counting to be held on May 13.
  • Assembly election results 2023: Neiphiu Rio takes oath as Nagaland CM for fifth term.
  • Conrad Sangma takes oath as Meghalaya CM and Manik Saha as Tripura CM for second term.
  • Both houses of Parliament face multiple disruptions over Rahul Gandhi and Adani issues.
  • Rahul Gandhi convicted ‘Modi surname’ defamation case, disqualified by Parliament..
  • PM Modi inaugurates 8th edition of Raisina Dialogue; Italian PM Giorgia Meloni Chief Guest of the event.
  • Australian PM Anthony Albanese visits India; becomes first foreign leader to visit INS Vikrant.
  • Japanese PM Fumio Kishida arrives in India on a two-day visit.
  • India signs $ 1 billion loan pact with World Bank to boost healthcare infra.
  • India, Mexico sign MoU on research, technology and innovation collaborations.
  • India, World Food Programme sign MoU during Global Millets Conference.
  • PM Modi unveils official stamp, coin of the International Year of Millets 2023 at Global Millets Conference.
  • Jaishankar, US Secretary of Air Force discuss opportunities for India-US defence cooperation.
  • Govt advises states to follow 5-fold strategy to fight Covid-19 as cases go up.
  • NITI Aayog holds inter-ministerial meeting to review Seasonal Influenza situation in the States.
  • Health Ministry issues advisory as IMD forecasts heatwaves after hottest February since 1901.
  • UIDAI rolls out new security mechanism for robust fingerprint-based Aadhaar authentication.
  • President to appoint CEC, ECs on recommendation of committee comprising PM, LoP & CJI, orders SC.
  • Karnataka govt scraps Muslim quota of 4%, increases quota of Lingayats and Vokkaligas by 2% each.
  • CM Yogi Adityanath approves infrastructure projects worth ₹465 crore in Ayodhya.
  • CM Ashok Gehlot announces formation of 19 new districts, 3 new divisions in Rajasthan.
  • Akhilesh Yadav meets Mamata Banerjee; agree on new front – without Congress.
  • EPS takes charge as AIADMK general secretary after Madras HC rejects OPS challenge.
  • Centre announces 10% reservation for ex-Agniveers in BSF recruitment.
  • Centre approves buying of different weapon systems worth over ₹70,000 crore for Defence forces.
  • Indian Army signs MoU with NTPC for implementing of Green Hydrogen Projects in Army Establishments.
  • NITI Aayog’s Atal Innovation Mission join hands with Australia’s science agency CSIRO.
  • ISRO successfully launches heaviest payload rocket mission LVM3-M3 OneWeb India-2 with 36 satellites.
  • Supreme Court fixes February 28, 2024 as deadline to pay ₹28,000 crore arrears under OROP scheme.
  • Bar Council permits foreign lawyers and firms to practice foreign law in select fields in India.
  • Delhi excise policy case: K Kavitha appears before ED for questioning; Delhi court rejects Sisodia bail.
  • Lalu Prasad Yadav, Rabri Devi & daughter Misa Bharti get bail in land-for-job scam case.
  • President Murmu presents 3 Padma Vibhushan, 4 Padma Bhushan and 47 Padma Shri Awards for 2023.
  • Oscars 2023: ‘The Elephant Whisperer’ bags award for Best Documentary Short Film.
  • Naatu Naatu wins Oscar, becomes first song from an Indian film to bag honour.
  • UN member states agree on historic deal to protect high seas after decades of talks.
  • WHO calls on China to be transparent in sharing data to determine Covid’s origins.
  • US’ Antony Blinken meets Russia’s Sergei Lavrov on G20 sidelines, urges stance reversal on nuclear treaty.
  • ICC judges issue arrest warrants against Vladimir Putin over Ukraine war crimes.
  • President Xi Jinping meets with Russian President Vladimir Putin.
  • Xi Jinping secures historic third term as Chinese President, Li Qiang appointed Chinese Premier.
  • China reopens to tourists, resumes all visas following COVID-19 lockdowns.
  • Japan, South Korea agree to mend ties as leaders meet after 12 year gap.
  • US approves selling Taiwan $619 million worth of F-16 munitions.
  • US Senate panel approves Biden’s pick Eric Garcetti for India Ambassador.
  • AUKUS deal: US, Australia and UK ink nuclear-powered submarine deal to counter Chinese aggression.
  • UK boosts defense spending by $6 billion in response to Russia and China.
  • Emmanuel Macron survives no-confidence vote as fresh protests rock France against pension reforms.
  • Netanayhu government survives no-confidence votes in Israeli parliament.
  • British, New Zealand parliaments block TikTok over security concerns.
  • Saudi Arabia approves decision to join the Shanghai Cooperation Organisation as ties with Beijing grow.
  • Myanmar’s Military Govt Junta dissolves Aung San Suu Kyi’s Party along with other Opposition Parties.
  • North Korea unveils new nuclear warheads as US air carrier arrives in South.
  • Nepali Congress leader Ram Chandra Paudel sworn in as President of Nepal.
  • North Korea calls on UN to demand immediate end to US, South Korea combined military drills.
  • Odisha CM Patnaik inaugurates India’s largest hockey stadium – Birsa Munda Stadium in Rourkela.
  • WPL 2023 Final: Harmanpreet Kaur-led Mumbai Indians defeat Delhi Capitals by 7 wickets, win inaugural title; Meg Lanning wins Orange Cap, Hayley Matthews Purple Cap.
  • IND vs AUS ODI Series: Australia win series 2-1, become No.1 ODI team
  • IPL 2023 begins; BCCI introduces new rule changes and playing conditions for the 16th season.
  • Ashwin breaks Anil Kumble’s twin record with his fifer in Ahmedabad.
  • FIFA confirms expanded 2026 World Cup with record 104 matches.


Business News

  • PM Modi, Sheikh Hasina inaugurate ₹377 crore diesel pipeline to Bangladesh.
  • Nirmala Sitharaman presents ₹1.18 lakh crore budget for J&K in Lok Sabha.
  • LG Manoj Sinha lays the foundation stone for a ₹250-crore mall in Srinagar, calls it J&K’s first FDI project.
  • Lok Sabha passes Finance Bill; approves setting up of GST Appellate Tribunal.
  • Withholding tax on royalties and fees for technical services earned by foreign companies doubled to 20%.
  • Mutual Fund investments with less than 35% equity investment will be deemed as STCG.
  • Centre slashes windfall tax on domestic crude oil to ₹3,500 per tonne; hikes duty on diesel.
  • Cooking gas price hiked by ₹50 per cylinder, commercial gas go up by ₹350.
  • Govt extends Ujjwala Yojana LPG subsidy of ₹200/gas cylinder for another year.
  • Govt sanctions ₹800 crore for installing 7,432 EV fast charging stations across the country.
  • Centre launches portal to ensure availability of power during peak demand at high price.
  • Centre forms Committee of Secretaries to fast-track infrastructure projects along northern border areas.
  • Govt hikes DA, DR for central govt employees to 42% of basic pay.
  • India, World Bank sign agreement for construction of Green National Highway Corridor project in 4 states.
  • India unveils the new Foreign Trade Policy 2023 in order to boost exports amid slowing global trade.
  • Ministry of Steel signs MoU with selected companies under PLI scheme.
  • Govt imposes money laundering provisions on crypto sector.
  • Centre amends anti-money laundering rules, brings ‘politically exposed persons’ under PMLA.
  • Centre grants full Customs Duty exemption on import of medicines & food for treating rare diseases.
  • Odisha approves 25 industrial projects worth ₹5,827 crore to create jobs.
  • Andhra Pradesh has received 340 investment proposals worth ₹13 lakh crore: CM YS Jagan Mohan Reddy.
  • Govt clears launch of IFFCO’s nano DAP fertiliser in market.
  • India gets world’s longest railway platform at Hubballi in Karnataka.
  • Central Railway achieves 100% electrification of entire Broad Gauge Network.
  • UP CM Yogi Adityanath, Nitin Gadkari inaugurate 18 road projects worth ₹10,000 crore for eastern UP.
  • Maharashtra govt partners with 91Springboard to set up virtual incubation center.
  • PAN, Aadhaar linking deadline extended to June 30, 2023: CBDT.
  • Hindustan Zinc declares ₹11,000 crore dividend; Vedanta to earn ₹7,132 crore, LIC to get ₹296 crore
  • ICICI Bank launches digital solutions for participants of capital market and custody services.
  • Bank of Baroda board approves divestment of up to 49% stake in credit cards subsidiary.
  • Yes Bank 3 years share Lock-In period ended on March 13.
  • Adani-Hindenburg row: SC orders committee to probe share crash; asks Centre, SEBI to cooperate.
  • Fed hikes interest rate 0.25 point to curb inflation despite banking turmoil.
  • Bank of England hikes rates by 25 bps, following US Fed.
  • Pakistan’s inflation soars to 47% fueled by high food prices; onion up 228%, wheat 120%.
  • Biden unveils $6.9 trillion budget, raises tax on rich, boosts spending on infra.
  • US closes Silicon Valley Bank, the 16th largest bank in America, in biggest collapse since 2008.
  • HSBC buys Silicon Valley Bank’s UK arm for £1 to protect deposits.
  • First Citizens Bank agrees to buy Silicon Valley Bank deposits and loans.
  • UBS agrees to buy Credit Suisse for more than $2 billion.
  • New York Community Bank agrees to buy failed Signature Bank in $2.7 billion deal.
  • Pakistan’s central bank raises key policy rate by 300 bps to 20%, highest level since 1996.
  • China approves $1.3 billion rollover for cash-strapped Pakistan.
  • Lanka’s central bank raises interest rates in anticipation of IMF bailout.
  • IMF approves $3 billion in financial assistance for Sri Lanka to overcome crisis.
  • Ukraine clinches $15.6 billion IMF loan, a first for nation at war.
  • Eris Lifesciences buys dermatology brands from Dr Reddy’s for ₹275 crore.
  • Tata Motors reaches new milestone, crosses 50 lakh passenger vehicle production mark.
  • Hyundai inks agreement to take over General Motors India’s Talegaon plant.
  • Hero MotoCorp signs agreement with US based Zero Motorcycle to collaborate on premium EV vehicles.
  • U.S. and Japan strike deal on Minerals used in batteries for Electric Cars.
  • Tesla officially opens Superchargers to non-Tesla EV owners in the US.
  • Honda announces to shut plant in Pakistan till March 31, cites supply chain disruptions.
  • Tata Group in agreement with Lockheed Martin to begin fighter wing production.
  • Riyadh Air: Saudi Arabia unveils new national airline to compete with Gulf rivals.
  • Bharti-backed OneWeb deploys another 40 satellites to low-Earth orbit with SpaceX.
  • ONGC signs MoU with France’s TotalEnergies for exploration of deep-water blocks.
  • HPCL and Chevron partner to introduce advance-tech lubricants in India.
  • Essar group to set up steel plant in Saudi Arabia with an investment of $4 billion.
  • India, US sign MoU on semiconductor supply chain and innovation partnership to boost cooperation.
  • Airtel India adds 235 cities to 5G network, service available in 500 cities.
  • Jio extends 5G coverage to 27 more cities, now covers 331 cities.
  • Telecom products maker HFCL collaborates with Microsoft to roll out private 5G solutions for enterprises.
  • iPhone maker Foxconn to set up electronic manufacturing plant in Telangana, to generate 1 lakh jobs.
  • OpenAI introduces ChatGPT successor GPT-4, new chatbot aces LSAT, GRE, and all major exams.
  • Ernie Bot: Baidu showcases China’s answer to ChatGPT to lead transformative technology.
  • Adani prepays $2.15 billion share-backed financing, $500 million loan for Ambuja deal ahead of deadline.
  • White House endorses TikTok bill, calls for swift ban of Chinese app.
  • Alibaba Group announces structural overhaul, split of business into six units.
  • PhonePe gets payment aggregator license, reaches $1 trillion annualised payment value run rate.
  • Tata Group pauses talks to buy majority stake in bottled water firm Bisleri.
  • HUL board names Rohit Jawa next MD & CEO, tenure starts from June 27.
  • Infosys’ former President Mohit Joshi to replace CP Gurnani as Tech Mahindra’s MD & CEO.
  • Rajesh Gopinathan quits as TCS CEO; K Krithivasan appointed CEO-designate.
  • Biocon’s Kiran Mazumdar-Shaw to retire from Infosys Board.
  • NDTV appoints ex SEBI chairman UK Sinha, Welspun India CEO Dipali Goenka as independent directors.
  • RIL names V Srikanth as new CFO; veteran Alok Agarwal to become Senior Advisor to Chairman.
Indices 31 -Mar 28 -Feb % 1M 02 -Jan % since Jan
BSE 58,992 58,962 0.05% 61,168 -3.61%
NSE 17,360 17,304 0.32% 18,197 -4.91%
DOW 33,274 32,657 1.89% 33,147 -1.48%
NASDAQ 12,222 11,456 6.69% 10,466 9.45%
FTSE 7,632 7,876 -3.10% 7,452 5.70%
Nikkei 28,041 27,446 2.17% 26,095 5.18%
Hang Seng 20,400 19,786 3.10% 19,781 0.02%
Straits Times 3,259 3,263 -0.11% 3,251 0.35%
Shanghai 3,273 3,280 -0.21% 3,089 6.16%
USD 82.17 82.67 -0.60% 82.72 -0.06%
Euro 89.09 87.51 1.80% 88.30 -0.89%
GBP 101.36 99.39 1.98% 99.91 -0.52%
Yen/100INR 0.62 0.61 2.08% 0.64 -4.94%
Gold 59,371 55,798 6.40% 55,586 0.38%
Silver 72,205 63,803 13.17% 70,579 -9.60%
Crude Brent 79.94 83.89 -4.71% 85.50 -1.88%
Crude Nymex$ 75.70 77.38 -2.17% 79.92 -3.18%
31 -Mar 40,609 28,699 12,244 45,905 12,017
28 -Feb 40,269 29,664 12,732 44,940 11,747
% 1M 0.84% -3.25% -3.83% 2.15% 2.30%
02 -Jan 43,203 28,737 12,668 44,193 12,551
% since Jan -6.01% -0.13% -3.35% 3.87% -4.26%

Exports in ($ Bn) 33.88
Imports ($ Bn) 51.31
FDI 4133
Government Bond 10Y 7.32%
GDP YoY 4.40%
Inflation Rate 6.44%
Forex Reserves ($ Mn) 5,78,778
IIP % 0.80%
Particulars FII(Rs. crore) MF(Rs. crore)
Equity 11,743 17,622
Debt 1,418 4,743
Total 1 M 13,1611 22,3642
Total Since Jan (16,537) 34,271
Equity (23,703) 48,404
Debt 7,166 (14,133)

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