October 3, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 246

General News

  • SCO Summit: PM Modi calls for reliable supply chain to foster economic recovery.
  • World leaders deliberate on regional security situation, enhancing trade and connectivity at SCO Summit.
  • Jaishankar Iterates India’s global efforts, censures neighbours for shielding terrorists at UNGA.
  • India, UAE and France hold first trilateral ministerial meeting on the sidelines of a UNGA session.
  • QUAD nations vow to assist each other in acting against malicious cyber activities. PM Modi and
    Bangladesh PM Sheikh Hasina jointly unveil Unit-I of Maitree Super Thermal Power Project.
  • S Jaishankar and Rajnath Singh attend 2nd India-Japan 2+2 ministerial dialogue in Tokyo.
  • India, UAE sign MoU to set up cultural forum to strengthen ties between two countries.
  • S Jaishankar meets Saudi Crown Prince Mohammed bin Salman in Jeddah, apprises him of bilateral ties.
  • India signs MoU with Gulf Cooperation Council to facilitate consultation.
  • Jaishankar, LIoyd Austin discuss opportunities for bilateral defence industrial cooperation.
  • India, France agree to expand cooperation on Indo-Pacific body.
  • Lt Gen Anil Chauhan(retd) appointed as new Chief of Defence Staff.
  • India and China hold talks in eastern Ladakh, focusing on maintaining security and stability in the region.
  • Defence ministry inks ₹1,700 crore deal for additional BrahMos missiles for frontline warships.
  • Army installs radar at 15,000 feet in North Sikkim to predict avalanche.
  • Indian Army contingent participates in Ex Vostok-2022 in Russia.
  • India and Egypt sign MoU in defence, focus on co-production of military platforms.
  • PM Modi inaugurates Kartavya Path, formerly called Rajpath; unveils Netaji’s 28ft statue.
  • Amit Shah virtually inaugurates, lays foundation stone for various projects worth ₹1,200 crore in Gujarat.
  • ISRO demonstrates new tech that can be used for Mars, Venus missions.
  • Rahul Gandhi, Congress leaders embark on 3,570 km ‘Bharat Jodo Yatra’ from Kanyakumari till Kashmir.
  • AICC Chief polls: Mallikarjun Kharge, Shashi Tharoor, K N Tripathi file nominations.
  • Ghulam Nabi Azad floats own party; People of J&K to decide name and flag of the party.
  • Amarinder Singh’s party Punjab Lok Congress merges with BJP.
  • Former Goa Chief Minister Digambar Kamat and 7 other Congress MLAs to join BJP.
  • 5 of 6 MLAs from Nitish Kumar’s JDU in Manipur merge with BJP.
  • Centre, Assam ink peace pact with 8 tribal militant groups.
  • Cabinet approves MoU signing between India, UAE on cooperation in education sector.
  • India’s total COVID cases at 4.46 crore; worldwide cases at 61.7 crore.
  • Govt launches national list of essential medicines; contains 384 medicines.
  • National Medical Commission lists 3 universities for temporary relocation of Indian students from Ukraine.
  • India’s first indigenously developed vaccine ‘Cervavac’ for cervical cancer prevention launched.
  • Tamil Nadu govt rolls out Delhi model school plan; CM Arvind Kejriwal launches scheme.
  • Tamil Nadu CM Stalin inaugurates free breakfast scheme for primary school students.
  • Karnataka government releases ₹ 300 crore to manage the flood situation in Bengaluru.
  • PM Modi launches Cheetah Rehab Project; releases 8 Namibian cheetahs at MP’s Kuno National Park.
  • Delhi bans firecrackers till January 01; online delivery, sale restricted.
  • Senior Advocate R Venkatramani appointed as the next Attorney General for India.
  • Govt appoints Ratan Tata, Sudha Murthy, 4 others as new trustees, advisors of PM CARES fund.
  • Supreme Court of India starts live streaming of its Constitution bench proceedings.
  • Gujarati film ‘Chhello Show’ becomes India’s official entry for Oscars 2023.
  • Queen Elizabeth II, UK’s longest-serving monarch passes away at 96 after reigning for 70 years.
  • Prince Charles becomes king; Camilla becomes UK Queen Consort, without sovereign’s powers.
  • Liz Truss beats Rishi Sunak in Tory leadership race to be new UK PM.
  • Pakistan floods’ death toll nears 1,500; estimated economic loss may cross $40 billion.
  • World Bank pledges $2 billion in aid to flood-hit Pakistan.

  • Ukraine pushes major counter-offensive as war with Russia crosses 200 days.
  • UN nuclear experts make first inspection of Russian-held Zaporizhzhia power plant in Ukraine.
  • EU chief von der Leyen visits Kyiv to discuss economy and EU integration plans.
  • Antony Blinken, in Kyiv, unveils $2 billion in US military aid for Europe.
  • Putin mobilizes more troops for Ukraine war, threatens nuclear retaliation over Russian-occupied land.
  • Russia, China agree to expand defence ties.
  • US approves $450 million F-16 fleet sustainment plan to Pakistan to meet counterterrorism threats.
  • US President Biden announces launch of annual COVID vaccines for 12+ age group.
  • Iranian President Ebrahim Raisi says sanctions must be lifted to reach nuclear deal.
  • Sri Lanka`s former President Gotabaya Rajapaksa returns two months after fleeing country.
  • Giorgia Meloni becomes Italy’s first ever woman Prime Minister.
  • PM Modi declares 36th National Games open in Ahmedabad.
  • ICC announces changes in cricket’s playing conditions, using saliva to polish ball permanently prohibited.
  • Asia Cup 2022: Sri Lanka beat Pakistan by 23 runs to win their sixth title.
  • Suresh Raina, Robin Uthappa, Australia captain Aaron Finch announce their retirements.
  • IND vs AUS T20I: India win series 2-1, register maiden T20I series win over Australia at home.
  • IND-W vs ENG-W: IND-W win ODI series 3-0; ENG-W win T20I series 2-1.
  • IND vs SA T20I: India lead the series 1-0.
  • PAK vs ENG T20I: 7 match series tied at 3-3; final match to decide winner .
  • Neeraj Chopra creates history, wins Diamond League Final with 88.44m throw.
  • World Wrestling Championship 2022: Vinesh Phogat grabs Bronze.
  • Bajrang Punia becomes 1st Indian to win 4 medals at world wrestling championships, claims bronze.
  • US Open: World No 1 Iga Swiatek becomes first Polish woman to win title.
  • Carlos Alcaraz win maiden Grand Slam crown; becomes youngest World No. 1 in men’s tennis.
  • Roger Federer announces retirement from professional tennis.


Business News

  • PM launches National Logistics Policy; aims to bring cost to single-digit.
  • Government approves 23 strategic projects under National Technical Textiles Mission.
  • Centre releases ₹7,183 crore as revenue deficit grant to 14 states.
  • GST collection up 28% in August; above ₹1.4 lakh crore for 6th straight month.
  • Govt revises small companies’ definition; doubles paid-up capital limit to ₹4 crore.
  • Govt to integrate 30 systems from different ministries for faster, cheaper services.
  • Govt extends tenure of the Foreign Trade Policy 2015-20 by 6 months till March 2023.
  • India overtakes UK to become world’s fifth largest economy.
  • India bans export of broken rice, imposes 20% duty on non-Basmati rice, amid Drought in 4 states.
  • Nitin Gadkari inaugurates, lays foundation stone of 7 NH projects costing over ₹1,128 crore in Gwalior.
  • Centre extends deadline for mandatory six airbags in cars to Oct 1, 2023.
  • Cabinet approves 2nd tranche of ₹19,500 crore of PLI scheme to boost manufacturing of solar modules.
  • Karnataka signs ₹1.3-lakh crore investment MoUs in renewable energy.
  • Govt reduces windfall tax on crude oil from ₹13,000 to ₹10,500 per tonne.
  • Jet fuel price cut by 12%, Commercial LPG cylinder price reduced by ₹91.50.
  • Andhra Pradesh okays six green energy projects worth ₹81,000 crore.
  • Indian railways develops real-time train tracking system in collaboration with ISRO.
  • President Murmu inaugurates Integrated Cryogenic Engines Manufacturing Facility of HAL in Bengaluru.
  • Railways creates history by operating 2.7-km long freight train ‘Pinaka’ by combining four trains.
  • I&B Ministry releases operational guidelines for DTH service provider.

  • Cinema halls return to Jammu & Kashmir valley after 30 years.
  • J&K L-G Manoj Sinha inaugurates and lays foundation stone of 14 projects of Jammu Smart City.
  • Maharashtra FDA cancels Johnson & Johnson’s baby powder manufacturing license.
  • IBBI amends Insolvency and Bankruptcy Code; permits bankrupt companies to be split.
  • RBI hikes Repo rate by 50 bps to 5.9%, fourth rate hike in the current financial year
  • RBI retains inflation forecast at 6.7% for FY23; FY23 GDP forecast cut to 7%.
  • RBI enables cross-border bill payments via Bharat Bill Payment System (BBPS).
  • HDFC Bank issues India’s first Electronic Bank Guarantee (e-BG).
  • Tamilnad Mercantile Bank debuts with 3% discount at ₹495.
  • Sri Lanka reaches initial IMF deal for $2.9 billion loan.
  • US Fed raises interest rates 75 basis points for 3rd straight time.
  • Bank of England hikes by 50 basis points, says UK may already be in recession.
  • Euro plunges to 20-year low after Russian gas halt.
  • Japanese Yen weakens to ¥143 zone against U.S. dollar in new 24-year low.
  • Samsung, Intel showcase world’s first 17-inch ‘slidable’ display for PC.
  • Intel unveils 13th gen Raptor Lake processors with up to 24 cores.
  • Nokia Collaborates with TCS for new cloud-based human capital management process.
  • Biden administration releases plan for $50 billion investment in chips.
  • Intel kicks off work on $20 billion semiconductor plant in US.
  • Vedanta, Foxconn to invest $19.5 billion in India’s Gujarat for chip project.
  • Finance Ministry okays converting Vodafone Idea’s ₹16,100 crore dues to govt equity.
  • Government makes IMEI number registration must for every handset.
  • Apple starts production of iPhone 14 at Foxconn’s plant near Chennai.
  • Rajasthan govt comes up with e-vehicle policy; sanctions ₹40 crore for e-vehicle purchase grant.
  • BMW agrees to set up auto parts manufacturing plant in Punjab.
  • Hero Electric to set up ₹1,200 crore EV manufacturing plant in Rajasthan.
  • Ashok Leyland inks pact with UK-based Libertine for powertrain technology.
  • BPCL signs pact with Brazil’s Petrobras to diversify crude oil sourcing.
  • Russia’s Gazprom signs gas deal with China to convert payments to ruble, yuan.
  • Germany takes subsidiary of Russian oil giant Rosneft under state control.
  • Government kickstarts sale process of 2 subsidiaries of erstwhile national carrier Air India.
  • DGCA mandates Breath analyser test for all pilots, cabin crew from 15 October.
  • Chandigarh airport officially named as Shaheed Bhagat Singh International airport.
  • Boeing to pay $200 million to settle SEC probe over 737 Max jetliner.
  • India’s first intranasal COVID vaccine by Bharat Biotech gets DCGI approval.
  • Serum Institute of India inks with Aspen to sell four vaccines in Africa.
  • PepsiCo to invest ₹3,740 crore to set up four industrial units in UP.
  • Twitter shareholders approve Elon Musk’s $44 billion takeover deal.
  • TerraPay, NPCI collaborate for merchant payments via UPI-enabled QR codes.
  • Infibeam Avenues consolidates business in 4 countries with its flagship brand CCAvenue.
  • Skill India partners with Samsung to train Indian youth in AI, IoT, BigData, Coding.
  • Online education platform upGrad acquires Centum Learning to upskill enterprise workforce.
  • Tamil Nadu cabinet approves ordinance to ban online gaming in the state.
  • Amazon, Flipkart kickstart their festive season sale.
  • Former Tata Sons Chairman Cyrus Mistry dies in car crash near Mumbai.
  • Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO.
  • Gautam Adani appointed chairman of Ambuja Cements; son Karan to head ACC


Indices 30-Sep 31-Aug % 1M 04-Jan % since Jan
BSE 57427 59537 -3.54% 59856 -4.06%
NSE 17094 17759 -3.74% 17805 -3.99%
DOW 28726 31510 -8.84% 36800 -21.94%
NASDAQ 10576 11816 -10.50% 15623 -32.31%
FTSE 6894 7284 -5.36% 7505 -8.15%
Nikkei 25937 28092 -7.67% 29302 -11.48%
Hang Seng 17223 19954 -13.69% 23290 -26.05%
Straits Times 3130 3222 -2.84% 3181 -1.60%
Shanghai 3024 3202 -5.55% 3632 -16.74%
USD 81.34 79.55 2.26% 74.55 9.11%
Euro 79.43 79.74 -0.40% 84.15 -5.62%
GBP 89.91 92.17 -2.46% 100.91 -10.90%
Yen/100INR 0.56 0.57 -1.30% 0.64 -12.44%
Gold 50027 50740 -1.41% 47950 4.33%
Silver 56868 53600 6.10% 62247 -8.64%
Crude Brent $ 85.56 95.57 -10.47% 79.77 7.26%
Crude Nymex $ 79.74 88.49 -9.89% 76.80 3.83%
30-Sep 38632 26981 12699 44406 12972
31-Aug 39537 28408 13217 43821 12699
% 1M -2.29% -5.02% -3.92% 1.33% 2.15%
04-Jan 36840 39371 11139 37800 14041
% since Jan 4.86% -31.47% 14.00% 17.47% -7.61%

Exports in ($ Bn) 33.92
Imports ($ Bn) 61.9
FDI 5213
Government Bond 10Y 7.40%
GDP YoY 13.50%
Inflation Rate 7.00%
Forex Reserves ($ Bn) 537520
IIP % 2.40%
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (3,750) 6,769
Debt 4,810 (14,465)
Total 1 M 1,060 (7,696)
Total Since Jan (1,55,276) 1,12,073
Equity (1,49,660) 1,33,401
Debt (5,616) (21,328)

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