Erratic rains put potato and rice on hot plate

Even though the government has banned exports of non-basmati rice, prices have shot up by 15% amid increased demand from south India where patchy rains in Karnataka have reduced kharif rice production. On the other hand, unpredictable rainfall in October has impacted sowing of the new potato crop, which will delay the arrival of the new crop, pushing up prices of the old stock of potatoes.

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India's pharma business can reach $130 billion by 2030: Industry experts

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Byju's CTO Anil Goel quits after 3 years

Top level exits at troubled edtech startup Byju's continue. The firm's chief technology officer (CTO) Anil Goel is leaving the company after three years, amid a broad restructuring process that India CEO Arjun Mohan is spearheading. In a statement on Monday, the firm said Jiny Thattil has been elevated as the new CTO. Thattil had been serving as the senior vice-president, engineering at Byju's and has also worked with companies like Amazon, InMobi and GE Healthcare in the past.

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Lab2Market: JNCASR to set up India’s first CO2-to-methanol plant in Telangana

Bengaluru's Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) is setting up India's first plant to convert CO2 into methanol at a power plant in Telangana. The plant, commissioned by the Central Mine Planning & Design Institute Limited (CMPDI) with a recommendation from Coal India Limited, is expected to be completed in 2024. The technology, developed by JNCASR's startup Breathe Applied Sciences, will help control environmental pollution by converting CO2 into methanol, reducing the need for imports from China.

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BRS asks EC to reconsider farmers' scheme freeze

"The Congress conspiracy against Rythu Bandhu has been revealed once again. Even after the Election Commission gave permission to distribute crop assistance to farmers, the Congress conspired. The decision was taken on the basis of a complaint given to the Election Commission...," T Harish Rao wrote on social media platform X.

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Deregulation helps ONGC command premium over Brent on Mumbai crude

Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over global benchmark Brent for Mumbai offshore oil in spite of attempts by buyers, also from the public sector, to beat down prices by leveraging discounts on Russian supplies. ONGC produces 13-14 million tonnes per annum of crude oil from its fields in the Arabian Sea, off the Mumbai coast.

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India, 20 others to talk agriculture subsidies at WTO tomorrow

Around 80 WTO members opposed this proposal by the Cairns Group, which has 19 members including Argentina, Australia, Brazil and Canada. Last month, the European Union had shown willingness to negotiate the public stockholding issue with India. The move was seen as a significant breakthrough on the issue which has been deadlocked for the past 10 years.

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'Core inflation may bottom out around 4%'

Core inflation eased to 4.3% in October, according to official data. "Core inflation internals remain favourable with decline led by services inflation that is typically less volatile. But the scope for a meaningful and sustained fall in core may be limited unless growth softens materially," said Abhishek Upadhyay, senior vice president and economist, ICICI Securities PD.

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Take FPI custody services out of GST: Lenders to government

The issue cropped up during the GST audit of some foreign banks and lenders expect tax demands notices since 2017 when the new indirect tax was rolled out in due course. Assets under custody (AUC) stood at ₹48.7 lakh crore in March 2023, declining from ₹50.94 lakh crore in March 2022, shows data.

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