Here is a collection of the most important stories this evening:
RBI Bulletin | Fight against inflation will be dogged, prolonged
The fight to bring down stubbornly high inflation will be “dogged and prolonged” considering the lags with which monetary policy operates and the uncertainties involved, the Reserve Bank of India (RBI) said in its monthly bulletin released on October 17.
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Former Infosys President Ravi Kumar S to join Cognizant
Former Infosys President Ravi Kumar S, who resigned from Infosys last week, will join Cognizant on January 16, 2023, as President of Cognizant Americas. Sources Moneycontrol spoke to suggested that Ravi Kumar's appointment as President could be a precursor to becoming Cognizant CEO in the future. Moneycontrol could not independently verify this.
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Justice DY Chandrachud appointed 50th CJI, to take oath on Nov 9
President Droupadi Murmu has appointed Justice Dhananjaya Yashwant Chandrachud as the next Chief Justice of India with effect from November 9, 2022, according to the government notification issued on October 17. Justice Chandrachud will be sworn in on November 9, and will remain in office till November 10, 2024.
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OFI Global, other Invesco-managed funds to sell 5.29 crore equity shares in Zee
OFI Global China Fund and other Invesco-managed funds will sell a total of 5.29 crore equity shares held in Zee Entertainment Enterprises Ltd, CNBC TV-18 reported on October 17. The deal size, of 52,935,068 equity shares, represents around 5.51 percent of the total shares outstanding in the company.
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Gujarat govt cuts VAT on CNG, PNG prices by 10%
Gujarat government on October 17 announced that it has cut value-added tax (VAT) prices on compressed natural gas (CNG) and piped natural gas (PNG) by 10 percent, announced Gujarat Minister Jitu Vaghani. As per mypetrolprice.com, the average CNG price in Ahmedabad is Rs 83.9 today, Rs 82.16 in Gandhinagar and Rs 81.15 in Vadodra. After reducing VAT on CNG, consumers will benefit from Rs 6 to 7 per kg, while in PNG consumers will benefit from Rs 5 to 6 per kg.
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China delays release of Q3 GDP data
China said Monday it will delay the release of growth figures for the third quarter along with a host of other economic indicators expected this week, as the country's leadership gathers for a meeting set to hand President Xi Jinping a historic third term in office. Beijing's National Bureau of Statistics announced that the release of the economic data would be "postponed", without specifying a reason or timeline for the figures to be released.
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New UK Finance Minister Jeremy Hunt scraps tax plan, reins in energy support
New UK Finance Minister Jeremy Hunt sought to rebuild investor confidence in Britain on Monday by reversing nearly all of Prime Minister Liz Truss's mini-budget that had sparked market turmoil, and reining in a vast energy subsidy plan. Tasked with halting a bond market rout that has raged since the government announced huge unfunded tax cuts on September 23, Hunt said the country now needed to increase taxes and cut spending to rebuild stability and confidence.
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