BUSINESS
Renewables power Nov all-India electricity generation
Accordingly, the total all-India generation increased marginally by 2 per cent to 99.4BU (billion units) in November 2021. "The overall increase in generation was, however, supported by a 16.4 per cent YoY increase in the generation from renewable sources and a 16 per cent YoY rise in generation from hydro power sources," Ind-Ra said. "Whereas, the generation from coal-based thermal power plants reduced by 0.3 per cent YoY."
Govt asks Apple to manufacture goods worth $50 billion/year in India over next 5-6 years: Report
According to the report, a high-level meeting was held between top government officials and the senior functionaries from Apple. The iPhone maker company was asked to develop India as a global sourcing base and manufacture fully-built products in the country that could later be exported from India to countries across the world, similar to its operations in China.
Firm dealing in cryptocurrency fined Rs 49.20 crore
"The GST of Rs 40.5 crore was not paid. Along with interest and penalty, on December 30, a total of Rs 49.2 crore has been recovered from WazirX," a GST official said. "WazirX exchange is managed by Zanmai Labs Pvt. Ltd and cryptocurrency WRX is owned by Binance Investment Co. Ltd, Seychelles. The Goods and Services Tax (GST) officials also found that the rate of commission was different for both the transactions.
India's Q2FY22 current account deficit at $9.6 bn
The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter. On a YoY basis, the country's Balance of Payments was in surplus of $15.3 billion in Q2FY21. "The deficit in the current account in Q2:2021-22 was mainly due to widening of trade deficit to $44.4 billion from $30.7 billion in the preceding quarter and an increase in net outgo of investment income," the RBI said in a statement.
Lower demand post festive season sequentially eases India's Nov core sector growth
The Index of Eight Core Industries' (ICI) readings for last month showed a slower rate of expansion at 3.1 per cent (provisional) from a rise of 8.4 per cent (provisional) reported for October 2021. However, on a year-on-year basis, the ICI reading during the period under review was higher than (-) 1.1 per cent reported for November 2020. The ICI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), comprising coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
US stocks fall on New Year's Eve
The Dow Jones Industrial Average fell 59.78 points, or 0.16 per cent, to 36,338.30. The S&P 500 was down 12.55 points, or 0.26 per cent, to 4,766.18. The Nasdaq Composite Index dropped 96.59 points, or 0.61 per cent, to 15,644.97. Six of the 11 primary S&P 500 sectors ended in green, with consumer staples up 0.71 per cent, outpacing the rest. Communication services slipped 1.21 per cent, the worst-performing group
India's forex reserves decline by $587 mn
The Reserve Bank of India's forex reserves decreased to $635.080 billion from $635.667 billion.
FII outflows countered rising exports, dented Indian rupee in 2021
Besides, high crude oil prices along with US Fed's tapering measures added to the woes of the Indian currency.
Indian equities end year on positive note with all sectoral indices up
The Sensex and Nifty settled at 58,253 points and 17,354 points, up 0.8 per cent and 0.9 per cent from their previous close, respectively.
Equities settle on positive note; Sensex, Nifty rise over 20% in 2021
The Sensex and Nifty settled at 58253 points and 17354 points, respectively, up 0.8 per cent and 0.9 per cent from their previous close.
Don't Miss
Advertisement