US Inflation likely to remain elevated at 8% levels in Oct; 50-75 bps rate hike not off table for Fed
CPI inflation in the US for October is expected to remain elevated, in close proximity to the previous month’s level of 8.2 per cent, making it unlikely for the US Federal Reserve to pause aggressive interest rate hikes. Economists expect consumer-based inflation to stay at or above 8 per cent, keeping yet another 50-75 basis points hike on the table for the US Fed’s meeting scheduled on December 14. The US inflation shot up to 9.1 per cent in June before falling to 8.2 per cent in September. The US Fed has raised the interest rate by 375 basis points this year, in efforts to tame inflation rate and bring it to below 2 per cent.
CPWD to seek ‘professional expertise’ to monitor progress of projects under Central Vista redevelopment plan?
The CPWD will engage “professional expertise” to track progress of all the projects being executed under the Modi government’s ambitious?Central Vista?redevelopment plan, with the agency floating a request for proposal (RFP) for project monitoring consultancy at Rs 12 crore for four years. According to the CPWD, the agency that comes under the Union housing and urban affairs ministry, a project support unit (PSU) will be set up and it will have technical manpower to monitor the progress of the Central Vista redevelopment project.
Govt to scrap incentive plan for services exporters
The government has decided to do away with incentives to services exporters under the flagship Services Exports from India Scheme (SEIS). The next foreign trade policy (FTP) won’t include a scheme replacing the SEIS, official and trade sources told FE. The FTP is expected to be unveiled in March 2023 and implemented from the next fiscal.
Given the limited resources, the government may also refrain from providing exporters the SEIS benefits for FY22 and this fiscal, one of the sources said.
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Apple rolls out 5G support with latest beta update for Jio, Airtel iPhone users
iPhone users can finally start using 5G Internet services. Apple has finally released the iOS 16.2 beta update for compatible iPhones. The update brings 5G network support for Airtel and Jio iPhone beta users.
The beta software update will be compatible with iPhone 12, iPhone 13, and iPhone 14 series as well as iPhone SE (3rd Generation). Note that this software update is available only for beta users and an overall rollout is expected in December.
Maruti Suzuki Grand Vitara crosses 75,000 bookings: Waiting period explained
Maruti Suzuki, India’s largest car manufacturer, launched the all-new Grand Vitara mid-size SUV in September this year. Pre-bookings for the same commenced on July 11 and it garnered over 57,000 bookings even before an official launch. Now, the company has revealed that the Maruti Suzuki Grand Vitara has crossed the 75,000 bookings mark and over 13,000 units have been delivered.?