The Monetary Policy Committee of the Reserve Bank of India on Wednesday has kept the repo rate unchanged at 6.5 per cent for the tenth consecutive meeting, with a majority vote of 5-1.

RBI MPC meet: Repo rate unchanged at 6.5%

Luxury carmaker Audi India expects sales to be back on track next year after witnessing supply chain disruptions that hampered its performance in 2024, a top company executive said on Thursday.
The German carmaker, which on Thursday introduced a new version of its flagship SUV Q7, expects its sales to grow by 8-10 per cent next calender year, recovering from supply chain challenges it faced in the first two quarters of this calender year.
"We anticipate luxury car industry growth next year to be in the range of 8-10 per cent. For Audi also we expect similar kind of growth," Audi India Head Balbir Singh Dhillon told PTI in an interaction.
He noted that the industry sales growth has tapered down after witnessing huge growth in the last three years.
In January-September this year the industry growth has been around 5 per cent, down from over 30 per cent year-on-year growth witnessed in the last three years.
"Still we believe that the luxury car industry will cross the 50,000 unit-mar

The German carmaker, which on Thursday introduced a new version of its flagship SUV Q7, expects its sales to grow by 8-10 per cent next calender year, recovering from supply chain challenges

The acquisition, according to industry sources, is seen as RIL's attempt to gain further understanding and explore potential in the helium-related segment

Connected Experiences feature, which analyses user content to provide suggestions and recommendations, has raised questions about whether Microsoft is using customer data to train its AI models

Amazon said that brands like Apple, Samsung, Sony, LG and more are participating in its first Black Friday sale in India

The Union Housing and Urban Affairs Ministry has received 28 proposals from 23 states for incubation of new cities, which are currently with the competent authority for examination, the Lok Sabha was informed on Thursday.
In February 2021, the ministry announced that the central government would develop eight new cities to meet the demand for expansion of urban areas.
The 15th Finance Commission, set up by the government, has recommended an outlay of Rs 8,000 crore for developing new eight cities in eight states. A state may have only one new city through this fund.
In a written response to a question, Union Minister of State for Housing and Urban Affairs Tokhan Sahu said that the amount available for each proposed new city is Rs 1,000 crore.
In line with the recommendations of 15th Finance Commission, the HUA ministry constituted an expert committee (EC) for finalisation of bid parameters for incubation of new cities, the minister said.
The committee finalised minimum eligibility

The committee finalised minimum eligibility conditions and bid parameters, and a Request for Proposal (RfP) was circulated to all states. The ministry received 26 proposals from 21 states up to the

Karnataka Home Minister G Parameshwara on Thursday said there are also talks regarding change in state Congress president along with the cabinet reshuffle, and it is for the party leadership to decide on these matters.
Deputy Chief Minister D K Shivakumar, who has completed four years as president of the Karnataka Pradesh Congress Committee (KPCC), is currently on an extension in the post.
"State Congress president (Shivakumar) has gone to Delhi. I have come to know that the Chief Minister (Siddaramaiah) is also going today. There is a Congress working committee meeting tomorrow. They are going for that. After the meeting, I don't know whether they will discuss with the high command regarding the cabinet reshuffle," Parameshwara said in response to a question.
Speaking to reporters here, he said, "Along with that (cabinet reshuffle) we are also hearing talks about changing the state Congress president. So, on these two things, what decision the CM and the president will take in ...

Karnataka Deputy Chief Minister D K Shivakumar, who has completed four years as president of the Karnataka Pradesh Congress Committee (KPCC), is currently on an extension in the post

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

The Andhra Pradesh government is expected to present the state budget on Monday, during the assembly session starting tomorrow, according to official sources.
The budget is expected to be presented with just over four months remaining in the FY 2024-25.
The TDP-led NDA government had previously promulgated an ordinance approving a Vote-on-Account budget of Rs 1.3 lakh crore for the period from August to November.
Earlier, the previous YS Jagan Mohan Reddy-led YSRCP government had presented a Vote-on-Account budget in February covering April to July, ahead of the state polls.
As a result, two Vote-on-Account budgets have accounted for the majority of this financial yeareight months in total.
According to the August 1 ordinance by the TDP-led government, the state opted for another Vote-on-Account budget for four months (August to November) due to the new NDA government taking office. The other constituents of the coalition government are Janasena and the BJP.
Meanwhile, the Financ

The budget is expected to be presented with just over four months remaining in the FY 2024-25

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

RBI MPC meet: Repo rate unchanged at 6.5%

The Monetary Policy Committee of the Reserve Bank of India on Wednesday has kept the repo rate unchanged at 6.5 per cent for the tenth consecutive meeting, with a majority vote of 5-1.

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