“We are closely monitoring the action on ground, which is concentrated in South Israel. Haifa port in northern part of Israelis operational. We have taken measures to ensure safety of our employees and all of them are safe. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality,” a spokesperson from the firm stated.
Moreover, foreign fund outflows from the domestic equity markets also weakened the local currency. The rupee has breached the 83-level against the dollar for the fifth time since August 14.
Despite a loss of growth momentum, the manufacturing sector still expanded strongly in the month. There were softer, albeit sharp, increases in factory orders and output, while business confidence towards the year-ahead outlook strengthened, S&P Global said.
While consumer price index (CPI) -based inflation for FY24 is expected to be at 5.4 per cent, for the first three quarters of 2024-25 it is projected at 4.6 per cent, according to the ‘State of the Economy’ article published in the RBI’s December bulletin.
In both lahsun and pyaaz, a real respite to consumers can come only after March, when their rabi crops are harvested. But there are worries even on that front, due to depleting groundwater tables, particularly in Maharashtra and Karnataka.
According to Reserve Bank of India (RBI) data, fund outflow under the RBI’s Liberalised Remittances Scheme (LRS) shot up to $3.89 billion (Rs 32,000 crore) in June as against $ 2.88 billion (Rs 23,900 crore) in May this year. LRS outflows in June 2022 were just $ 1.98 billion (Rs 16,430 crore).
The rupee oscillated between an intra-day low of 83.24 and a high of 83.12 against the greenback and finally settled at 83.16, higher by 8 paise from its previous close of 83.24.
Meesho’s first profit comes at a time when Indian startups have been struggling to raise funds due to a funding squeeze worsened by higher interest rates and a global tech market rout.
The increase in Europe’s largest economy comes a day before the release of inflation figures for the entire 20-country area that uses the euro currency.
MoS IT Rajeev Chandrasekhar said the Data Protection Board and guidelines for the eight rules, including consent management, will be put in place within a month.