*Business & Economy news*
*INDIA-RELATED :*
* IMF cuts India FY23 GDP growth estimate by 60 bps to 6.8% (Informist)
* RBI allows asset recast cos to act as resolution applicant under IBC (Informist)
* RBI issues revised norms for banks on borrowers' unhedged FX exposure (Informist)
* RBI tightens NPA, provisioning divergence disclosure norms for banks (Informist)
* RBI sets threshold to classify 'middle layer' non-bank lenders (Informist)
* CP supply by NBFCs jumps 32% in Sep, issuances by others fall (Informist)
* Infosys President Ravi Kumar resigns effective today (Informist)
* Suzlon Energy aims to cut debt by 5.84 bln rupees by end of October (Informist)
* Govt nudges Apple, Samsung and others to release 5G updates (RTR)
* Global coffee prices fall 0.2% on month to 199.63 cents a pound in Sep (Informist)
* Brigade Enterprises announces succession planning, splits CMD post (Informist)
* M&M, Jio-bp in pact to set up charging network for electric vehicles (Informist)
* Housing project launch to gain pace in festival season, says report (Informist)
* Govt ups base import price of silver by $67/kg, keeps gold unchanged (Informist)
* China’s BYD enters India's passenger car market amid global push (RTR)
* Govt may sell residual stake post strategic disinvestment in IDBI Bank to public (BL)
* India offers 26 blocks for producing oil, gas in mega offshore bid round (ET)
* Railways revenue up by 92% in passenger segment (Mint)
*FROM OVERSEAS :*
* IMF retains 2022 global GDP growth view, warns of recession feel 2023 (Informist)
* Putin says Russia not working 'against anyone' in energy markets (RTR)
* Russia’s financial monitoring agency adds Meta to ‘extremists’ list (RTR)
* Biden re-evaluating US relationship with Saudis after OPEC decision to cut production (RTR)
Biden's labor rule to shake up gig economy that relies on contractors (RTR)
* Goldman Sachs says too early to price in a Fed policy pivot (BB)
* Bank of England widens bond purchases as it warns of financial stability risk (FT)
* AstraZeneca nasal spray vaccine for COVID fizzles in small, early trial (BB)
* Nissan takes $687 mln loss on sale of Russian business to state-owned entity for 1 euro (RTR)
* Japan’s FX reserves fall by record $54 bln (FT)
* US Supreme Court spurns McKinsey & Co appeal in bankruptcy conflicts case (RTR)
* General Motors broadens electric goals with new division (AP)
* Renault CEO seeks partner on hybrids to bring scale, cut costs (RTR)
* Australia to cap work hours for international students again (ET)
* Sri Lanka to keep ‘middle-income’ status but seek concessional loans (RTR)
By: via Allies Fin Serve Stock Market
