On dirham basis, Indian rupee is now at Rs20.45 and looks like going down further.
The Indian rupee has breached the 74 per dollar mark and experts feel that with continued global economic concerns and possibilities of further plunge in financial and oil markets, it may continue to witness volatility in the coming days.
Indian shares tumbled on Friday, as banking stocks came under pressure after the country’s central bank placed troubled lender Yes Bank under a moratorium and took over its board.
The S&P BSE Sensex and NSE Nifty 50 indices suffered their biggest single-day selloff ever in absolute terms as the Indian markets entered a bear phase.
Attended by Sheikha Shamma Bint Sultan Bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability, the UAE Circular Economy Council convened its meeting, presided over by Mariam Bint Mohammed Almheiri, Minister of Climate Change and the Environment to discuss ‘Year of Sustainability’ initiatives and COP28.
The Federal Tax Authority (FTA) has launched the ‘Tax Support’ initiative to raise tax awareness among business sectors in the UAE through direct and sustained contact, as a means to enhance compliance with tax laws and regulations. The first workshop for 2023 under the initiative was held on Jan.24 and 25 as a collaboration
US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week.