BUSINESS
Vistara sees signs of recovery, remains optimistic
Vistara's Chief Executive, Vinod Kannan, said till now pandemic has triggered uncertainty and reiterated the importance of staying "agile". Nevertheless, he cited that the airline is observing a steady increase in traffic in February 2022 compared to the previous month.
Worker compensation talks at Ford India inconclusive
According to a senior worker at Ford India, the younger workers want the remaining years of service to be the factor in calculating the compensation while the normal practice is to take the completed years of service. However, the workers who have age on their side, want some sort of parity in the compensation amount paid for loss of jobs. The management also wants a cap on the compensation paid per worker.
US seizes 94K stolen Bitcoins worth $3.6 bn in biggest ever crypto haul
The couple -- Ilya Lichtenstein, 34, and Heather Morgan, 31 -- faces charges of conspiring to launder money and to defraud the US government, facing up to 25 years in prison if convicted. They were arrested in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion.
Govt imposes stock limits on oils, oilseeds till June 30
The Stock Limit Order, notified on February 3, empowers the Union Government and all states/UTs to regulate storage and distribution of edible oils and oilseeds. This would also help the government in checking hoarding of edible oils and oilseeds in the country, a statement from the Ministry of Consumer Affairs, Food & Public Distribution said on Wednesday.
Equities rise in early trade; majority of Nifty50 stocks in green
At 9.34 a.m., Sensex traded at 58,318 points, up 0.9 per cent or 510 points from the previous close of 57,809 points. It opened at 58,163 points. Nifty traded at 17,415 points, up 0.9 per cent or 148 points from the previous close of 17,267 points. It opened at 17,370 points.
Indian hospitality sector witnessed a 100.3 percent YoY RevPAR growth
The Revenue Per Available Room (RevPAR) witnessed a growth of 100.3 percent year-on-year (YoY) in Q4, 2021. The quarterly RevPAR of Q4 (October-December) was at 41.9 percent , according to JLL's Hotel Momentum India (HMI) Q4, 2021. The last quarter of 2021 (Q4 2021) also witnessed a significant increase in international arrivals as compared to the same time in the previous year.
EU presents 15bn-euro plan to ease semiconductor chip shortage, dependency
The European Commission will "enable 15 billion euros ($17.11 billion) in additional public and private investment until 2030" in semiconductor production, senior EU officials said in Brussels on Tuesday as they presented the Commission's "European Chips Act". "Without chips, no digital transition, green transition, technological leadership," said Thierry Breton, European Commissioner for the internal market.
Bangladesh sees 6.94% economic growth in 2020-21 fiscal year
Bangladeshi Planning Minister, M.A. Mannan on Tuesday announced the gross domestic product (GDP) data released by the Bangladesh Bureau of Statistics. He told a press conference that the economic growth exceeded the government's provisional estimate of 5.43 per cent for the last fiscal year, Xinhua news agency reported.
Pfizer 2022 guidance comes shy of expectations despite strong growth projection
Pfizer expects to realise $98-102 billion of revenues in 2022 and the mid-point of the guidance range represents a 23-per cent growth from that in 2021. Pfizer would have $103.2 billion of revenues of consensus estimate, according to market information supplier FactSet. Pfizer raised its forecast on revenues from Covid-19 vaccine in 2022 by $1 billion to $32 billion, which is still lower than FactSet consensus estimate of $34.8 billion and $33.79 billion of consensus forecast.
US trade deficit hits record high in 2021
US imports rose by 20.5 percent to $3.39 trillion in 2021 while exports climbed by 18.5% to $2.53 trillion, according to the department. The trade gap represented 3.7% of US gross domestic product in 2021, up from 3.2% in 2020, Xinhua news agency reported. "A surge in imports to fuel domestic demand for goods caused the trade deficit in goods and services to widen 27% in 2021 and reach its largest annual deficit on record".
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