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Indian equity indices surged over 1% on Wednesday, mirroring global gains as softer US retail sales data fueled expectations of a December Federal Reserve rate cut. The Sensex and Nifty neared record closing levels, driven by strong investor sentiment and foreign inflows. All sectoral indices ended higher, with metals leading the advance.
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In a forward-thinking initiative, the Reserve Bank of India is simplifying wealth management for business families. By allowing the transfer of ownership of investment companies to private family trusts, they're paving the way for smoother succession planning and minimizing potential disputes. The focus remains on designating family members as trustees, which strengthens familial control over assets.
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The cause of the blaze in the northern Tai Po district was not immediately known, but it was fanned by green construction mesh and bamboo scaffolding - a mainstay of traditional Chinese architecture but subject to a phase-out in Hong Kong since March for safety reasons.
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Reserve Bank of India deputy governor Poonam Gupta stated that food's significant weight and price swings in India's Consumer Price Index complicate inflation forecasting. This is crucial for monetary policy decisions. The RBI uses various models and indicators to predict inflation and growth. Forecasts for 2025-26 show inflation at 2.6%. Data updates are vital for a dynamic economy.
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ICIL offloaded 34.3 million Airtel shares worth Rs 7,200 crore to long-term institutional investors, cutting its stake below 1%. The sale saw strong global interest and came at a slight discount to market price.
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