While it is likely that omicron is more transmissible, early reports suggest it may also be less deadly, which would fit into the pattern of virus evolution observed historically, JP Morgan strategists Marko Kolanovic and Bram Kaplan wrote in a note Wednesday.

Wall Street's major averages fell more than 1% on Wednesday after a morning rally faded as investor angst about the latest coronavirus variant soared with the first US case confirmation while the market also digested Fed comments on inflation.

The central government on Wednesday challenged the Maharashtra government's revised guidelines on quarantine for international passengers in view of concerns over the Omicron variant, saying that the state's new airport arrival rules are 'in divergence' with health ministry guidelines.

International digital payments major Visa has announced new leadership for India and South Asia, with the incumbent TR Ramachandran being relocated to Singapore from next year to lead its newly created new payment flows business.

Scheduled international flights are unlikely to resume from December 15, due to the evolving situation of the Omicron Covid variant. India had last week announced a graded resumption of regular international flights from December 15, 2021, nearly 21 months after being suspended on March 23, 2020. Air bubbles, that gave limited flights to some countries, were supposed to burst on December 14.

Israels Tel Aviv has leapfrogged Hong Kong and Singapore to become the worlds most expensive city to live in, according to the Economist Intelligence Unit (EIU). The Israeli city climbed from fifth place last year to top the Worldwide Cost of Living 2021 report for the first time, pushing Paris down to joint second place with Singapore. Zurich and Hong Kong rounded out the top five.

Compiled by IHS Markit, the Purchasing Managers' Index rose to 57.6 in November from 55.9 in October. The reading was the highest since January and the fifth straight month above the 50-mark that separates growth from contraction.

India Q2 GDP growth: A comparison of the GDP data to the pre-pandemic 2019 era is important to understand the extent of recovery.

The Dow Jones Industrial Average fell 652.22 points, or 1.86%, to 34,483.72, the S&P 500 lost 88.27 points, or 1.90%, to 4,567 and the Nasdaq Composite dropped 245.14 points, or 1.55%, to 15,537.69.

The unemployment rate in urban areas in the January-March quarter of 2020-21 was 9.4%, lower than the 10.3% recorded in the October-December quarter of the previous year, data showed on Thursday. The rate cooled down after being in double digits for the past three quarters.

The countrys economy grew by 8.4% in the July-September quarter, broadly in line with expectations, led by a steady farm sector and double-digit expansion in public administration, defence and other services as the impact of the base effect waned and weighed on the overall numbers.

The average price of tomato has shot up 25 percent in the last two months while it has shot up by 50 per cent in the last on year.

Marta Ortega will replace Pablo Isla, who has been chairman since 2011, in April, the company said in a statement. He was deputy chairman between 2005 and 2011.

Anticipating a harsher winter this year, discoms have estimated that the national capital's power demand will go up to 5400 MW, surpassing the peak winter demand in the previous two years, officials said.

It is a defeat for economic sense and a victory for undeserving vote banks. Far from acting as the autocrat that critics accuse him of being, Prime Minister Narendra Modi has chickened out of his...