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Big boost! India’s manufacturing PMI hits 17.5-year high; rate of output expansion quickest in nearly 5 years

The HSBC report indicated that substantial domestic demand continued to support significant increases in factory orders. (AI image) In a big boost for the Indian economy, the manufacturing sector Purchasing Managers’ Index (PMI) rose to a 17.5-year high in August.The manufacturing sector demonstrated increased growth in August, with PMI rising to 59.3 from July’s 59.1,…

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Rupee at record low: Markets eye RBI’s next move as currency breaches 89; corporates’ worries mount

The rupee’s trajectory has become a key concern for financial markets. Banks have reduced trading exposures, while numerous importers with large unhedged positions are facing losses. Corporates engaged in over-the-counter forex derivative transactions, anticipating stable rupee levels, are reportedly worried as the currency crosses 89. The financial sector remains uncertain whether the Reserve Bank of…

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GDP data, GST meet to decide D-St direction

MUMBAI: Tariff-related developments, the strong GDP numbers for the June quarter of the year that govt announced on Friday and the ensuing meeting on GST rejig are expected to have a balancing effect on Dalal Street investors during the week. With foreign funds continuing to sell Indian stocks, the rupee could come under renewed pressure,…

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Specialty fertiliser sector under risk? China to reimpose export curbs from October; India faces price surge

The specialty fertiliser sector in India could potentially face new supply disruptions as China plans to reenforce export curbs starting October, with potential price increases affecting farmers, according to a senior industry representative.Chinese specialty fertiliser exports have temporarily resumed, offering momentary respite. However, this relief period will conclude as Beijing intends to strengthen export supervision…

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Textile trade: India-UK FTA may offset US losses; CareEdge Ratings sees export realignment ahead

The losses faced by Indian textile exporters due to steep reciprocal tariffs imposed by the United States may be cushioned by rising exports to the United Kingdom under the recently concluded India-UK Free Trade Agreement (FTA), CareEdge Ratings said in a report.The ratings agency noted that ongoing negotiations with the European Union could further open…

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Digital payments safety: RBI Deputy Governor Rao flags off Chandigarh walkathon; stresses responsible digital use

Reserve Bank of India Deputy Governor M Rajeshwar Rao on Sunday flagged off a walkathon on cyber security awareness at Sukhna Lake here, stressing that banking services, especially digital platforms, are designed for public convenience and must be used responsibly.The walkathon, organised by the Bankers’ Club, Chandigarh, saw enthusiastic participation from bankers across the region,…

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GST refunds: Delhi CM Rekha Gupta says Rs 1,600 crore dues to be cleared before Diwali; traders to gain liquidity boost

Delhi Chief Minister Rekha Gupta on Sunday announced that nearly Rs 1,600 crore in pending GST refunds since 2019 will be released to traders before Diwali, enabling them to celebrate the festival with “greater joy and prosperity.”Gupta chaired a special meeting of the Department of Trade and Taxes at her Civil Lines camp office, which…

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