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Sensex, Nifty fall over 1 pc as bulls take a breather

25 mins ago

Mumbai: Equity benchmarks fell Friday after a continuous rally, with the Sensex and Nifty declining over 1 per cent each amid profit-taking and weak global market trends. The 30-share BSE Sensex, which had started the trade on a firm note, later gave up all the...

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Rupee falls 20 paise to close at 79.84 against US dollar

31 mins ago

Mumbai: The rupee depreciated 20 paise to close at 79.84 (provisional) against the US dollar Friday amid a strengthening greenback overseas. At the interbank foreign exchange market, the local currency opened at 79.75 and moved in a range of 79.73 to 79.84 during the day....

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Markets open higher; turn choppy later amid mixed global trends

6 hours ago

Mumbai: Equity benchmarks started the trade on a positive note Friday, with the Sensex climbing over 113 points in early trade, amid mixed trends from global equities. The 30-share BSE index advanced 113.2 points to 60,411.20 in early deals. The broader NSE Nifty climbed 35.7...

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Rupee falls 12 paise to 79.76 against US dollar in early trade

6 hours ago

Mumbai: The rupee depreciated 12 paise to 79.76 against the US dollar in opening trade Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 79.75 against the US dollar, then fell to 79.76,...

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10 tips for becoming financially independent

8 hours ago

What does it mean to be independent financially? It goes beyond just being able to cover your essential living needs like rent, food, utilities, and medical care. Saving money, protecting it against inflation and wasteful spending, and building up your capital over time are all...

Business

Crypto.com lays off more employees in ‘worse’ second job cut round

9 hours ago

New Delhi: Crypto lending exchange Crypto.com has laid off more employees in the second round and this time, the firing of employees is worse than the previous job cut, as the global crypto meltdown gets deeper. According to a Decrypt report, citing sources, the latest...

China renews war threats as Taiwan launches its military exercises Beijing: China Thursday renewed its threat to attack Taiwan following almost a week of war games near the island. Taiwan has called Beijing's claims to the self-governing democracy “wishful thinking" and launched its own military exercises. Taiwan's “collusion with external forces to seek independence and provocation will only accelerate their own demise and push Taiwan into the abyss of disaster,” Chinese Foreign Ministry spokesperson Wang Wenbin said at a daily briefing. “Their pursuit of Taiwan independence will never succeed, and any attempt to sell the national interest will be met with a complete failure," Wang told reporters. China's attempt to intimidate the Taiwanese public and advertise its strategy for blockading and potentially invading the island was nominally prompted by a visit to Taipei last week by US House Speaker Nancy Pelosi. The US, Japan and allies have denounced the exercises, with the Group of Seven industrialised nations issuing a statement at a recent meeting expressing its concern. On Wednesday, Britain's government summoned Chinese Ambassador Zheng Zeguang to the Foreign Office to demand an explanation of "Beijing's aggressive and wide-ranging escalation against Taiwan”. Taiwan says Beijing used Pelosi's visit as a pretext to raise the stakes in its feud with Taipei, firing missiles into the Taiwan Strait and over the island into the Pacific Ocean. China also sent planes and ships across the midline in the strait that has long been a buffer between the sides, which separated amid civil war in 1949. In a lengthy policy statement on Taiwan issued Wednesday, China distorted the historical record, including the United Nations' 1972 resolution that transferred the China seat on the Security Council from Beijing to Taipei, Taiwan's Cabinet-level Mainland Affairs Council said. The Chinese statement also discarded a pledge not to send troops or government officials to Taiwan that was contained in previous statements. The UN resolution makes no mention of Taiwan's status, although China regards it as a foundational document proclaiming the Communist Party's right to control over the island. The Taiwanese council's statement said China was orchestrating its moves against Taiwan ahead of the ruling Communist Party's 20th National Congress to be held later this year. President and party leader Xi Jinping is expected to receive a third five-year term at the conclave, after leading a relentless crackdown on political figures accused of corruption, human rights activists and civil society groups. Xi's suppression of free speech and political opposition in Hong Kong was also seen as a factor behind Taiwan's President Tsai Ing-wen winning a second term in 2020. China says it plans to annex Taiwan under the now widely discredited “one country, two systems" format applied in Hong Kong. The concept has been thoroughly rejected in Taiwanese public opinion polls in which respondents have overwhelmingly favoured the status-quo of de-facto independence. The Chinese statement is “full of wishful thinking, and ignores the facts," the Mainland Affairs Council said in its press release. The “crude and clumsy political operations by the Beijing authorities further highlight its arrogant thinking pattern of attempting to use force to invade and destroy the Taiwan Strait and regional peace," the release said. “The authorities in Beijing deceive themselves. We warn the Beijing authorities to immediately stop threatening Taiwan with force and spreading false information," it said. Taiwan placed its military under high alert during the Chinese drills but took no direct countermeasures. It held artillery drills off its southwestern coast facing China that ran through Thursday, illustrating the challenges the People's Liberation Army would face were it to launch an invasion across the strait. AP China, Taiwan

Business

US to hold trade talks with Taiwan, island drills military

19 hours ago

Hualien (Taiwan): The US Government Thursday announced trade talks with Taiwan in a sign of support for the island democracy China claims as its own territory, prompting a warning by Beijing that it will take action if necessary to “safeguard its sovereignty.” The announcement comes...

Business

Elevated inflation warrants appropriate policy response, says RBI article

20 hours ago

Mumbai: Inflation is persistently at elevated levels that warrants appropriate policy responses to anchor expectations going forward, said an RBI article published Thursday. Retail inflation based on the consumer price index (CPI) softened to 6.71 per cent in July, mainly on account of moderation in...

Business

Market cap of BSE-listed firms at all-time high of over Rs 280.52 lakh crore

20 hours ago

New Delhi: The market capitalisation of BSE-listed firms reached an all-time high of over Rs 280.52 lakh crore Thursday, helped by a continuous rally in equities. The 30-share BSE Sensex ended 37.87 points or 0.06 per cent higher at 60,298. This is the benchmark's fifth...

Business

Rupee falls 19 paise to close at 79.64 against US dollar

1 day ago

Mumbai: The rupee depreciated 19 paise to close at 79.64 (provisional) against the US dollar Thursday, following the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 79.60 and moved in a range of...

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