News Overview

After previously describing U.S. economic growth as modest, the Federal Reserves latest Beige Book said economic activity has been about flat or up slightly since mid-October. The report said interest rates and inflation continued to weigh on activity, with many contacts expressing greater uncertainty or increased pessimism regarding the economic outlook. Non-auto consumer spending eked out slight gains on balance, the Fed said, as inflation […]

The US Fed Chief Jerome Powell stated that the Federal Reserve will slow the pace of interest rate rises next month in an otherwise hawkish speech warning the US central bank has a long way to go in its fight against inflation. The time for moderating the pace of rate increases may come as soon as the December meeting, the Fed chair said during an […]

The US Energy Information Administration (EIA) reported a crude oil inventory decline of 12.6 million barrels for the week to November 25. At 419.1 million barrels, oil inventories are 8 percent below the five-year average for this time of the year. Gasoline inventories added 2.8 million barrels in the reporting period, with production averaging 9.4 million bpd. This compared with a build of 3.1 million […]

Wipro: Wipro announced the launch of Wipro Data Intelligence Suite, a one-stop solution for accelerating cloud modernization and data monetization, focused on modernizing data estates, including data stores, pipelines and visualizations, running on Amazon Web Services (AWS). Zydus Lifesciences: Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Topiramate extended-release capsules, 25 mg, 50 mg, 100 mg, […]

US Federal Reserve Chairman has indicated to slowing of interest rate hikes in December

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 90.50 points at the opening bell. On the macro front, Indias gross domestic product (GDP) grew at 6.3% year-on-year (YoY) in the second quarter (Q2) of the current financial year (Q2FY23), latest data released by the the Ministry of Statistics and Programme Implementation on Wednesday stated. […]

U.S. West Texas Intermediate crude futures increased by 16 cents, or 0.2%, to $80.71 and Brent crude prices increased by 5 cents, or 0.06%, to $87.02 per barrel.

Private sector job growth in the U.S. fell well short of economist estimates in the month of November, payroll processor ADP revealed in a report. ADP said private sector employment increased by 127,000 jobs in November after surging by an unrevised 239,000 jobs in October. ADP said job creation slowed by the most since January 2021, led by construction and other interest rate-sensitive sectors. The […]

The drug will be manufactured at the groups formulation manufacturing facility at Ahmedabad SEZ, India.

Revised data released by the Commerce Department on Wednesday unexpectedly showed the U.S. economy grew by more than previously estimated in the third quarter. The report said real gross domestic product spiked by 2.9 percent in the third quarter compared to the previously reported 2.6 percent surge. The upwardly revised jump came after GDP fell by 0.6 percent in the second quarter and slumped by […]