 "Federal Reserve, US Fed")
US Fed decides unanimously to hike key benchmark rates by 25 bps
US Federal Reserve on Wednesday raised interest rates by 25 basis points (25 bps) or 0.25 per cent s widely expected and hinted that it may pause further increases.
According to the statement released by Federal Open Market Committee (FOMC) chaired by Jerome Powell, Chair of the Federal Reserve of the United States, the decision to rise the key benchmark rates was "unanimous". Read more...
Indian-origin Ajay Banga confirmed as next president of World Bank
The World Bank's board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, ushering in an Indian-born finance and development expert to revamp the lender to tackle climate change and other global crises.
Banga, 63, was nominated for the post by US President Joe Biden in late February and was the sole contender to replace departing World Bank chief David Malpass, an economist and former US Treasury official who served in the Trump administration. Read more...
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Pratt & Whitney's engine woes cost Go Air 47 years worth of flying time
Faults with engines supplied by Pratt & Whitney to Go Airlines India Ltd. forced the budget carrier to keep its brand-new Airbus SE jets on the ground for 17,244 days since in the past three years, according to a legal filing in a Delaware court. Read more...
WTO ruling against India in tech tariffs dispute with European Union
India will hit back at the European Union (EU) in case the trade bloc decides to invoke its domestic law to impose retaliatory tariffs on the nation, a senior official said, amid tensions between the two sides after a recent World Trade Organization (WTO) ruling against New Delhi over imposition of import duties on ICT (information communications technology) products. Read more...
After Ola, three others to repay customers for 'off-board charger'
Days after Ola Electric agreed to reimburse customers for paying for “off-board chargers”, three other companies — Ather Energy, TVS and Hero MotoCorp’s Vida — have followed suit. All three electric two-wheeler manufacturers wrote to the Ministry of Heavy Industries on Wednesday expressing their willingness to repay customers.
The total amount to be reimbursed by all four defaulter OEMs (original equipment manufacturers) is Rs 287 crore. Read more...
