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Top news of Dec 3: India's strategy to tackle Omicron; key personal finance changes in December and more

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Here are the top news from the world of business, economics, politics and more, handcrafted for you by the CNBC-TV18.com team

Top news of Dec 3: India's strategy to tackle Omicron; key personal finance changes in December and more
Market erased opening gains to end at day's low on Friday-- with both Sensex and Nifty closing over a percent lower. The Union government has urged people not to panic and instead follow COVID-19-appropriate behaviour and get vaccinated without delay. A bevvy of changes will come into effect in December ranging from a possible hike in term insurance premiums to a rise in SBI credit card EMIs. Here are some top news of the day
ECONOMY
Government tables second batch of supplementary demands for grants
The Centre has tabled its supplementary demands in the Parliament, seeking a net additional spend of Rs 2.99 lakh crore for the financial year 2022. CNBC-TV18 had earlier reported that the additional spend this year could be more than Rs 2.5 lakh crore. Read more
Rural slowdown due to inflationary pressures
NielsenIQ's fast-moving consumer goods (FMCG) snapshot for the second quarter of FY22 showed that inflation has dragged down demand for consumer goods, with growth slowing to 12.6 percent - significantly lower than the 36.9 percent recorded the previous quarter. Read more
Telecom department starts returning bank guarantees 
Implementing the decision taken to provide relief to telcos, the telecom department has started returning bank guarantees to companies. As part of this, the telecom department is releasing bank guarantees of Rs 20,000 crore issued by Bharti Airtel and Vodafone Idea. Read more

MARKETS
Indian equity markets snap 2-week losing streak
Market erased opening gains to end at day's low on Friday-- with both Sensex and Nifty closing over a percent lower. For the week, market ended higher as it snapped the 2 week losing streak. IT was the top gaining index while pharma was the top losing one. Experts discuss road ahead for investors.
CLSA downgrades Maruti to 'sell'
CLSA has downgraded Maruti Suzuki India to sell from underperform with a target price of Rs 6,420. The stock was marginally under pressure during market hours. Here's why
Saurabh Mukherjea's financial stock picks
Saurabh Mukherjea, Founder of Marcellus Investment Managers, believes it is a good time to invest in well-run financial companies now, instead of more speculative spaces such as realty, travel, transport, infra and aviation. Check out the stock tips.

INDIA
Cyclonic storm to reach west-central Bay of Bengal tomorrow
likely to intensify further and reach west-central Bay of Bengal off north Andhra Pradesh – south Odisha coasts by tomorrow, the 4th December morning. Read updates
How is India responding to Omicron
The Union government has urged people not to panic and instead follow COVID-19-appropriate behaviour and get vaccinated without delay. Read more
Here’s why Dam Safety Bill 2019 is important
The Bill gains importance in the backdrop of the many lives lost earlier this year following a devastating glacier event and a dam collapse in Uttarakhand’s Chamoli district. Read more

INTERNATIONAL
Highest drop in H-1B visa holders in a decade
The count of immigrants holding high-tech jobs under the H-1B visa program has dropped by 9 percent in the US, the highest in a decade. Continue Reading
IMF warns of economic collapse in poor nations
The International Monetary Fund (IMF) has urged advanced economies to suspend debt-service obligations and renegotiate terms with low-income countries, which may otherwise face “economic collapse". Read more
Growth in US service sector reaches new heights 
Growth in the services sector, where most Americans work, hit an all-time high in November, surpassing the previous record set in October. Read more
 

YOU & I
Key personal finance changes in December
A bevvy of changes will come into effect in December ranging from a possible hike in term insurance premiums to a rise in SBI credit card EMIs. The interest rates on PNB's savings account also will see a revision. Check out the list here.
You will have to pay more for ATM transactions
Customers will have to pay more if they exceed the free ATM transaction limit from January 1, 2022. Read details
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