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The Fed raised the interest rates by another 75bps yesterday, as expected. This is the third back-to-back 75bps rate hike this year by the US central bank. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3.0%-3.25% and is the highest since January 2008. The FOMC revised the median FFR at the end of 2022 up by 100bps to 4.4% from 3.4% in June, indicating a cumulative rate hike Read More

IdeaForge Technology Pvt., India’s largest drone maker backed by Qualcomm Inc., is considering an initial public offering in Mumbai that could raise about $125 million, according to people familiar with the matter. The company is working with financial advisers on the potential listing, which could happen in the first quarter of 2023, the people said. The Mumbai-based firm is seeking a valuation of about $700 million in the share sale, which could mostly consist of Read More

The rupee appreciated 16 paise to 79.65 against the US dollar in early trade, in line with a positive trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 79.70 against the dollar. Since the beginning of this year, the Reserve Bank of India (RBI) has been defending the local currency relentlessly from the onslaught of US dollar outflows. Unless US Fed takes a dovish pivot, sharp appreciation in the rupee Read More

Sebi is looking to boost surveillance of social media and other platforms through a web intelligence tool using artificial intelligence and data analytics to probe violations of various securities laws by individuals, groups, and other entities.In this regard, the capital markets regulator has invited Expression of Interest (EOI) from solution providers to implement, install and maintain a ‘Web Intelligence Tool’, according to public notice. Noting that internet usage has risen exponentially over the last few Read More

The Indian rupee is expected to remain sideways on Friday amid falling crude prices, risk aversion in global equity markets, and a strong dollar. The USDINR pair is having resistance at 79.90 and 80.15, while the support has shifted to 79.40 from 79.05, according to analysts. In the previous session, the rupee declined due to strong demand for the U.S. dollar from oil companies, while markets braced for a big rate hike from the U.S. Read More