Early on March 19, a significant development unfolded in Bengaluru as the Income Tax Department initiated raids at various outlets of the popular biryani chain, Meghana Foods. Owned by Padma Atluri and Rambabu Mandava, this Hyderabad-headquartered restaurant chain, first established in Bengaluru in 2006, has grown to be a beloved spot for biryani enthusiasts. The operation, […]
The Indian rupee experienced a slight depreciation against the U.S. dollar, opening at Rs 82.94, a minor fall from its previous close. The shift is attributed to the dollar index climbing to nearly a two-week peak, influenced by anticipations surrounding upcoming central bank monetary policy announcements. Global and Domestic Influences Market analysts are closely watching the […]
BENGALURU, March 18 (Reuters) – The Swiss National Bank will wait until at least June before cutting interest rates, according to a strong majority of economists polled by Reuters, who said it would make shallower cuts this year than peers. The SNB may choose to wait on the sidelines until the U.S. Federal Reserve and European Central Bank […]
While earnings fell from 2022’s blockbuster records, profits across the sector still easily eclipsed prior highlights such as in 2008-2009, according to analysis from consultancy Oliver Wyman LLC. “We saw pretty good margins overall and that is practically because things continue to be a little bit tight on the supply-demand side,” consultant Adam Perkins said […]
DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to […]
WASHINGTON, March 14 (Reuters) – JPMorgan Chase & Co has been fined $348.2 million by a pair of U.S. bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced Thursday. The Fed fined the bank alongside the Office of the Comptroller of the Currency, and […]
March 13 (Reuters) – Pension insurance specialist Rothesay has agreed to buy the about 6 billion pound ($7.67 billion) Scottish Widows in force bulk annuity portfolio from Lloyds Banking Group (LLOY.L), opens new tab, the companies said on Wednesday. The bulk annuity deal covers the pension benefits of about 42,000 people and marks its sixth acquisition […]
LONDON, March 12 (Reuters) – It would be a bad idea for Britain to try to reduce pressure on the public finances by cutting the amount of interest the Bank of England pays on reserves held there by commercial banks, a junior Treasury minister said on Tuesday. Some former BoE officials have said the government could […]
BERLIN, March 11 (Reuters) – German inflation eased in February to 2.7%, the federal statistics office said on Tuesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, had risen by 3.1% year-on-year in January. The statistics office gives more detailed monthly data
BRUSSELS, March 11 (Reuters) – European Union finance ministers on Monday set out priorities for creating a Capital Markets Union over the next five years to attract private capital to Europe and help fund the costly transition to a “green” and digital economy. The priorities list key areas of work for the next European Parliament […]