US President Donald Trump lashed out at the Federal Reserve on Wednesday after fresh data showed US producer prices unexpectedly fell in August, sharpening his demand for an immediate rate cut.In a post on his Truth Social, Trump posted “Just out: No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a […]
Oracle shares soar 35% on AI demand; market valuation nears $915 billion, semiconductor stocks rally
Oracle shares surged about 35% on Wednesday after the company highlighted a surge in demand for its cloud services from AI firms, signalling a deeper push into the infrastructure supporting artificial intelligence systems. The growth in Oracle’s cloud business reflects a broader industry trend, with companies such as OpenAI and xAI ramping up spending on […]
US inflation watch: Producer prices dip 0.1% in August; weaker-than-expected data hints at tariff impact
US producer prices unexpectedly fell 0.1% in August from July, the Labor Department reported Wednesday, after a 0.7% advance the previous month.The producer price index — a measure of inflation in the supply chain before it reaches consumers — showed wholesale services prices dropped 0.2% as retailers and wholesalers absorbed costs from President Donald Trump’s […]
PV Narasimha Rao award: Ex PM Manmohan Singh honoured posthumously; wife Gursharan Kaur receives on his behalf
Former Prime Minister and noted economist Dr Manmohan Singh has been posthumously conferred the P V Narasimha Rao Memorial Award for Economics in recognition of his pivotal role in shaping India’s economic transformation and nation-building.The award was received on his behalf by his wife, Gursharan Kaur, at a ceremony held in the national capital last […]
Mutual funds trends: Equity inflows drop 22% to Rs 33,430 cr in August; SIP momentum flat at Rs 27,000 cr
Equity mutual fund inflows fell 22% to Rs 33,430 crore in August, largely due to a sharp decline in new fund offers (NFOs), data from the Association of Mutual Funds in India (AMFI) showed on Wednesday. Despite the dip, August marked the 54th straight month of net inflows into equity schemes.In July, equity-oriented funds had […]
Bhagalpur–Dumka–Rampurhat railways line to be doubled: Rs 3,169 crore project greenlit; freight, tourism to benefit
Union Minister Ashwini revealing Cabinet decisions NEW DELHI: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi on Tuesday approved the doubling of the Bhagalpur–Dumka–Rampurhat railway line, covering a distance of 177 km across Bihar, Jharkhand, and West Bengal. The project is estimated to cost approximately Rs 3,169 crore. “The enhanced line […]
Jumbo challenge for chip-making: Tata Electronics builds elephant-proof barrier for Assam unit; snakes necessitate further safeguards
The intersection of wildlife and semiconductor manufacturing presents an unusual challenge in Assam.At Tata Electronics’ forthcoming outsourced semiconductor assembly and test (OSAT) facility, elephant movements pose potential operational risks. Their footfalls generate ground vibrations that could affect sensitive equipment, potentially causing measurement errors, pattern distortions and operational disruptions in chip production, particularly given the nanometre-scale […]
Semiconductor push: India plans fiscal incentives across 25 categories; mandates to spur chip usage in consumer electronics
I examine the complex architecture of a semiconductor chip, marveling at its miniature components and precise design. The government is evaluating specific fiscal incentives for chipset development across 25 electronic categories whilst implementing rigorous domestic sourcing requirements for select items, including televisions and air-conditioners, to ensure uptake of locally manufactured semiconductors, according to informed sources.The […]
Urban Company IPO opens: Retail portion of issue fully subscribed within an hour- Should you invest?
Urban Company IPO open for investors Urban Company’s Rs 1,900 crore initial public offering (IPO)’s retail, employee portion was fully subscribed within the first hour of opening on Wednesday, driven by robust interest from retail investors. Bidders placed orders for 62 million shares, or 58 per cent of the 107 million shares on offer. Within […]
Strong domestic demand: Fitch revises India’s GDP growth outlook upwards to 6.9%; expects another RBI rate cut this year
According to Fitch, India’s economic activity showed significant momentum, with real GDP growth climbing to 7.8% yoy in April-June quarter. (AI image) Fitch Ratings has revised India’s GDP growth outlook for FY 2025-26 upwards to 6.9% from 6.5% in its latest report on World GDP Forecasts. Fitch is of the view that while the 50% […]