Daily News Snippets- 3 March 20221 min read
1) US Fed Reserve has said that it will take interest rate hike measures as planned earlier. The ongoing tension between Russia-Ukraine will not affect the interest rate hike decision. This announcement led the US stock market to rise by 1.5%-1.7%.
2) Since the being sanctions are being imposed n Russia, the trade between India and Russia can withstand based on a Rupee-Ruble basis. The exposure of the country’s export and import to Russia is quite low at the range of 1%-1.5%.
3) To control the wild swings of the Rupee-Dollar equation, the Central Bank of India- Reserve Bank of India supplied Dollars worth $2 billion or Rs. 200 Cr.
4) The Indian 10-Year G-Sec Yield is currently at 6.81%
5) Firms to give 9.1% salary increments in 2022 looking to beat the pre-covid levels.
6) LIC IPO might be deferred to the early part of FY23. This delay in the IPO will be mainly due to the subdued performance of the market due to the impact of the Russia-Ukraine War.
7) The Indian Railway Minister- Mr. Ashwini Vaishnaw has said that in the coming 7-8 days a policy will be introduced to promote Research & Development (R&D) in the private sector in the Railways.
8) Manufacturing Purchasing Manager’s Index (PMI) stood at 54.9% in February 2022. The Manufacturing PMI above 50 indicates the expansion of the economy, and below 50 indicates the contraction of the economy.
9) Vedanta Limited declared the 3rd dividend for the FY22 of Rs. 13.