Formal job creation shrinks in October
However, more new establishments came under the ESIC month-on-month in October, according to the data released by the labour and employment ministry. As per the data, 23,468 new establishments were recognised under the ESIC in October, compared to 22,544 new establishments in the month before. Employees aged up to 25 years made up 47.76% of the total workforce employed under the ESIC scheme in October, a shade lower than 47.98% in September. Key Points
Economic TimesWeather update: Heavy rains triggers waterlogging in Kerala; IMD issues yellow alert in 9 districts. Check forecast here
Kerala rains: Normal life was disrupted as heavy rains lashed several parts of Kerala, leading to waterlogging in many areas. IMD predicts thunderstorm and heavy rains in the state till 18 October. Key Points
mintService activity expansion slows down to a seven-month low in October; future outlook dented
In October, India's services sector growth decelerated to a seven-month low due to intense competition, subdued demand, and rising price pressures. The S&P Global India Services PMI Business Activity Index dropped to 58.4, reflecting a loss of business confidence Key Points
Economic TimesMarket in October: Nifty 50 records largest monthly drop in CY23; 35 stocks in the red
The Nifty 50 tumbled 2.84% in October, marking the largest monthly drop in CY23. From its all-time high of 20,222 points, the index is currently down by 6.04%. Key Points
mintUS job openings hit more than 2-1/2-year low as labour market cools
The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday also showed that there were 1.34 vacancies for every unemployed person in October, the lowest since August 2021 and down from 1.47 in September Key Points
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FPI selloff in Indian shares hits nine-month high in October - NSDL data
Foreign portfolio investors (FPIs) sold Indian equities worth 245.48 billion rupees ($2.95 billion) in the month of October, the most in nine months, data from the National Securities Depository (NSDL) showed. Key Points
ReutersServices sector activity in India hits 7-month low in Oct on softer increase in output, new business: PMI
The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March. The services sector growth in India fell to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures, a monthly survey said on Friday. Key Points
The Tribune IndiaUS employers tighten hands adding 1,50,000 jobs in October, unemployment rate rises
The employers in the US tightened their hand as the US Fed decided to keep the benchmark rates unchanged 5.25%-5.50% range, with no signs of reductions.The US unemployment rate increased from 3.8% to 3.9% in October Key Points
mintSUVs steer festive season sales
The festival season brought cheers to passenger vehicle makers having a wide range of SUVs and MPVs in their portfolio, as they experienced strong sales momentum in the category. This is evident from auto wholesales or dispatches to dealerships from the factory floor in October. Key Points
The TribuneEquity mutual fund inflows surge by 42% to Rs 19,957.17 crore in October
The ELSS category received the lowest inflow in October. The category received a total inflow of Rs 266.35 crore, compared to an outflow of Rs 141.15 crore in September. Key Points
Economic TimesIndia's manufacturing sector continues with robust performance in Nov on easing price pressures: Survey
New Delhi, Dec 1 (PTI) India’s manufacturing sector continued with its robust performance in November, mainly on the back of substantial easing in price pressures and strengthening demand from clients, a monthly survey said on Friday. The strong performance of the manufacturing sector is expected to continue in 2024 as well. The seasonally adjusted S&P […] Key Points
ThePrintSterling weakens after retail sales shake faith in the UK consumer
International Business News: UK retail sales unexpectedly fell in October, causing concern about the strength of consumer spending. Sales volumes dropped 0.3% month-on-month, foll Key Points
Times Of IndiaServices sector growth falls to 7-month low in October. Here's why
The S&P Global India Services Purchasing Managers' Index (PMI) fell to 58.4 in October, down from September's 61.0. Key Points
India TodayIndian shares set to rise as Fed triggers rise in global stocks
Indian shares are set to open higher on Thursday, tracking a rise in global stocks after the U.S. Federal Reserve kept rates unchanged and Chair Jerome Powell hedged on the possible end of the rate hiking cycle. Key Points
ReutersGerman import prices down 14.3% in September
International Business News: German import prices fell by 14.3% in September compared to the previous year, according to the country's statistics office. This decline, which is lo Key Points
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