Amid coal imports, government says production to touch 900 million tonnes this fiscal

All efforts are being made by Coal India (NS:) Ltd (CIL) and its subsidiaries to achieve this goal, he said at a function here. The target is ambitious, considering the fact that CIL’s production in 2021-22 was 622 million tonnes. However what is more significant is the fact that owing to a huge spike in … Read more

ASOS Shares Rise as Group Reports Improved Trading to Start 2023 Fiscal Year

By Scott Kanowsky — Shares in ASOS PLC (LON:) surged on Wednesday after the online fashion retailer unveiled an uptick in performance to begin its 2023 fiscal year and laid out a timeframe to return to positive cash generation despite soaring inflation weighing on consumer spending. The U.K.-based group said trading in September showed a … Read more

European Stocks Edge Higher; U.K. Outperforms Ahead of Fiscal Update

By Peter Nurse – European stock markets edged higher Monday, with the U.K. outperforming, following the news that the new Chancellor will bring forward the announcement of his fiscal plans to shore up market confidence after weeks of turmoil. By 03:40 ET (07:40 GMT), the in Germany traded 0.1% higher, the in France rose … Read more

Dollar Slips, Sterling Gains as U.K. Brings Forward Fiscal Plans

By Peter Nurse – The U.S. dollar weakened in early European trading Monday, while sterling gained on the news that the U.K. will bring forward its tax and spending plans in a bid to reassure markets after the turmoil associated with the start of new Prime Minister Liz Truss’s premiership. At 03:10 ET (07:10 … Read more

European Stocks Higher; Potential U.K. Fiscal U-Turn Boosts Sentiment

By Peter Nurse – European stock markets traded sharply higher Friday, continuing the global rebound after the latest U.S. inflation data, while speculation mounted that the U.K. government will abandon its plans for massive unfunded tax cuts. By 03:50 ET (07:50 GMT), the in Germany traded 1% higher, the in France rose 1%, and … Read more

Pound Rises as BoE’s Pill Says Fiscal News Needs “Significant” Policy Response

By Geoffrey Smith — The U.K. government’s new package of unfunded tax cuts will most likely require higher interest rates, a top Bank of England official said on Wednesday. The outlook for the U.K. has changed abruptly in the wake of Kwasi Kwarteng’s so-called ‘mini-budget’, Reuters reported the Bank’s chief economist Huw Pill as … Read more

NBFCs AUM to grow 11-12% by end of this fiscal: CRISIL

Mumbai, Sep 12 (IANS) The assets under management (AUM) of the non-banking finance companies (NBFC) to grow 11-12 per cent, a four-year high, to Rs 13 lakh crore by the end of this fiscal, riding on macroeconomic tailwinds, ratings agency CRISIL (NS:) said. Disruption in business and economic activity amid Covid-19 had constrained AUM growth … Read more

India’s strategy of fiscal prudence has paid off while US and Europe’s massive stimulus backfired

New Delhi, Sep 10 (IANS) While the US, UK and EU are facing a double whammy of unprecedented inflation and negative growth there is a school of thought which argues that India’s prudent fiscal policy has paid off. Over 2022-23, India’s growth will average 7 per cent, the strongest among the largest economies, contributing 28 … Read more