WPI Inflation At 13 56 As Firms Fight Rising Costs

India’s annual wholesale price-based inflation eased marginally in December to 13.56%, but remained in double digits for a ninth successive month, reflecting rising input costs for firms, many of which are steadily passing on costs to consumers.

December’s figure was marginally lower from the previous month’s 14.23%, which was the highest in more than a decade, government data showed on Friday.

Rising input costs for products such as fuel, metals and chemicals have pushed up wholesale prices, a proxy for producers’ prices, in recent months, while headline retail inflation is hovering around 5%, still within the 2%-6% target of Reserve Bank of India (RBI).

The RBI left the benchmark repo rate (INREPO=ECI) unchanged at 4.0% for a ninth consecutive meeting last month as economic growth remains a challenge amid rising COVID-19 cases.

Consumer price-based inflation, the main gauge monitored by the monetary policy committee of RBI, rose to a five-month

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UN Forecasts Lower Global Economic Growth for 2022 and 2023 | Business News

By EDITH M. LEDERER, Associated Press

UNITED NATIONS (AP) — The United Nations forecast lower global economic growth for 2022 and 2023 on Thursday, saying the world is facing new waves of coronavirus infections, persistent labor market challenges, lingering supply chain issues and rising inflationary pressures.

The U.N. said that after expanding 5.5% in 2021 — the highest rate of global economic growth in more than four decades — the world economy is projected to grow only 4% in 2022 and 3.5% in 2023.

Liu Zhenmin, the U.N. undersecretary-general for economic and social affairs, said at a news conference releaseasing the economic report that two years after the start of the COVID-19 pandemic “we are still living in a time of great uncertainty.”

“At the start of 2022, the global economic picture in the market is still murky,” he said. “Job creation has not yet made up for the earliest

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3 Tips To Optimise Your ULIP Experience

ULIP’s were all the rage between 2005 and 2009. Bankers and Insurance Advisors cashed in on the soaring equity indices and recommended ULIP’s by the dozen, raising questions on whether customer interests were being kept at heart. Ironically, once ULIP commissions were rationalised by the IRDA in 2009, their share within the overall Life Insurance have only fallen in the years that followed – only serving to validate this suspicion!  

ULIP’s have actually come a long way in the past few years, and are not quite the bane they used to be prior to 2009 – when anything from 20 to 70 per cent of your first-year premiums was slashed away as ‘distribution costs’ (read: commissions) and, like the proverbial lame horse, your money didn’t quite stand a chance to race ahead! According to research portal Morningstar, 5 years returns from large-cap ULIP funds have averaged a neat 16% plus

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Supreme Court Halts COVID-19 Vaccine Rule for US Businesses | Business News

By MARK SHERMAN and JESSICA GRESKO, Associated Press

WASHINGTON (AP) — The Supreme Court has stopped a major push by the Biden administration to boost the nation’s COVID-19 vaccination rate, a requirement that employees at large businesses get a vaccine or test regularly and wear a mask on the job.

At the same time, the court is allowing the administration to proceed with a vaccine mandate for most health care workers in the U.S. The court’s orders Thursday came during a spike in coronavirus cases caused by the omicron variant.

The court’s conservative majority concluded the administration overstepped its authority by seeking to impose the Occupational Safety and Health Administration’s vaccine-or-test rule on U.S. businesses with at least 100 employees. More than 80 million people would have been affected and OSHA had estimated that the rule would save 6,500 lives and prevent 250,000 hospitalizations over six months.

“OSHA has never

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