The business wrap: Ian and Greg Chappell oppose Adani's Australia project, and 9 other top stories
In other headlines: US Federal Reserve hiked key rates by 0.25%, and that led National Stock Exchange Nifty to end at a record high.
A look at the headlines in this sector right now:
- US Federal Reserve hikes rates by 0.25% supported by improved jobs market and inflation gains: The central bank projected two more raises in rates in 2017, indicating it aims to tighten monetary policy as the economy inches closer to its inflation target.
- Nifty ends at record high, Sensex soars after US Federal rate hike: Adani Ports and Tata Steel were the biggest gainers in the morning trade, while Bharti Airtel and Idea Cellular made losses in both indices.
- Cricketing icons Ian and Greg Chappell among Australians opposing Adani’s coal mine project: In a letter that will be delivered at the company’s headquarters in Gujarat, the signatories warned of health risks and damage to the Great Barrier Reef.
- India’s Aadhaar system is most sophisticated, says World Bank’s chief economist: It could be good for the world if this became widely adopted, said Paul Romer.
- Telecom tribunal refuses to stay Jio’s free promotional offer: The court has, however, asked the Telecom Regulator Authority of India to ‘re-examine’ issues.
- Centre hikes Dearness Allowance from 2% to 4%: Nearly 50 lakh Central government employees will receive the additional funds, effective from January 1, 2017.
- Karnataka government focuses on making entertainment, alcohol and food cheaper in budget: The Siddaramaiah government will spend Rs 100 crore to set up canteens that will provide breakfast for Rs 5, and lunch and dinner for Rs 10 in Bengaluru.
