Business

By Lalit K Jha

Washington, Oct 12 (PTI) President Donald Trump has intensified his attack on the US Federal Reserve following this week's plunge in stock prices, saying the central bank is "out of control" in raising interest rates, but ruled out firing its head Jerome Powell.

Trump's remarks on Thursday were the latest in series of recent barrages he has unleashed at the Fed.

The Fed under his hand-picked chairman Powell has been gradually raising rates as the economy has strengthened to prevent a run-up in inflation.

NUSA DUA, Indonesia; 11oct 2018; (AP) — The heads of the World Bank and IMF on Thursday urged the U.S. and China to play by world trade rules and de-escalate a dispute over Beijing’s technology development strategy that threatens to do lasting damage to the global economy.

Christine Lagarde, managing director of the International Monetary Fund, said she would advise Beijing and Washington to cool down, fix aspects of the world trading system that need fixing and “don’t break it.”

WASHINGTON; 11oct 2018; (AP) — President Donald Trump says the U.S. is looking into the fate of a Saudi writer missing and feared murdered but expressed reservations over calls to withhold further U.S. arms sales to Saudi Arabia, warning that such a move “would be hurting us.”

New Delhi, Oct 11 (PTI) The Amrapali group Thursday informed the Supreme Court that its nine properties in Noida, Greater Noida, Rajgir and Buxar in Bihar have been sealed in compliance with the court's order.

A bench of Justices U U Lalit and D Y Chandrachud asked the Amrapali group to file an undertaking with regard to sealing of its properties by 2 PM today.

The bench also sought presence of two forensic auditors Ravi Bhatia and Pawan Kumar Aggarwal at 2 PM to ascertain their satisfaction with regard to the documents to be audited.

Washington, Oct 10 (AFP) A severe recession would slash US public wealth by about USD 5 trillion, causing vastly more damage to Washington's finances than just an increase in debt and deficits, the IMF has warned.

Yet governments around the world, many of which face similar dangers, do not clearly publicise their overall net worths, the International Monetary Fund said in a new report Tuesday.

This creates a potential blind spot for policymakers who could use this knowledge to head off economic risks, it said.

Brussels, Oct 10 (AFP) Top EU officials were warned Wednesday to make plans to cope with the fallout from a "no-deal" Brexit as their chief negotiator said talks with Britain must make more progress before next week's crunch summit.

New Delhi, Oct 10 (PTI) Congress president Rahul Gandhi Wednesday raised questions on Defence Minister Nirmala Sitharaman's France visit, alleging that work has begun to justify the prime minister's decision to buy Rafale fighter aircraft.

He took to Twitter to say while the Supreme Court has asked for the details of the Rafale decision-making process, the decision to buy the fighter aircraft was taken by Prime Minister Narendra Modi. Gandhi alleged that processes to justify Modi's decision are being invented.

New Delhi, Oct 10 (PTI) The government Wednesday cut excise duty on jet fuel or ATF to 11 per cent from current 14 per cent in a bid to give relief to the aviation industry that has been hit hard by high fuel prices.

A notification issued by the Revenue Department of the Finance Ministry said the duty change would "come into force with effect from the 11th day of October, 2018.

Gurgaon, Oct 10 (PTI) The Shiv Sena and another Hindu organisation claimed to have forcibly shut around 400 meat and chicken shops at different locations here on Wednesday, demanding that they remain closed during Navaratri.

Chief of Shiv Sena's Gurgaon unit Gautam Saini told PTI that around 300 members of different Hindu organisations assembled at the Lord Shiva temple located at the Old Railway road on Wednesday morning and headed to different places to close meat shops.

KANPUR: A defence products exhibition is planned at CSA Kanpur from October 16 to 18. Uttar Pradesh Expressway Industrial Development Authority and IIA will jointly hold the programme.

It is important occasion due to the establishment of the Defence Industrial Corridor in the state.