BUSINESS
Diesel, petrol prices steady on Sunday
Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively. In the financial capital Mumbai, the prices were unchanged at Rs 94.14 and Rs 109.98. Prices also remained static in Kolkata at Rs 89.79 and Rs 104.67.
82 unicorns, $39bn funding & counting: Indian startups come of age
The global pandemic resulted in a digital transformation and adoption of technology at a societal level. Moreover, tech sector regulatory changes/crackdowns in China, availability of large pools of private capital were all positive factors for the Indian startup ecosystem to grow and produce a record 40 unicorns in 2021 alone. Today, India has 82 unicorns with a total funding of over $38.4 billion (from 2014 till December 4, 2021), according to data provided by leading startups publication Inc42.
Hope to introduce drone delivery services soon: SpiceJet
Accordingly, the airline plans to introduce 'SpiceXpress' drone delivery service to strategically expand its logistics platform while building a unique supply chain competence. It plans to introduce customised drones of different payloads including 0-5 kg, 5-10 kg and 10-25 kg which have the potential to change supply chain capabilities thereby making it more resilient and sustainable.
17mn US workers hit by Covid-triggered economic setback
This is the figure as of October this year, Xinhua news agency quoted the report published by the Ascent, a website focused on financial services, using data from the Washington-based think tank Economic Policy Institute. Among those people who had suffered some sort of economic setback resulting from the pandemic, 7.4 million were, at some point, officially unemployed.
Inflation trend, US Fed rate decision to set course for equities
Besides, investors will look out for other major factors like global oil prices along with progression of Covid-19's Omicron variant. Last week, both the key indices - S&P BSE Sensex and NSE Nifty50 - gained the most in eight weeks on a relief rally from the overwhelming fears about Omicron variant of the coronavirus. However, the bounce ran out of energy towards the end of the week and just ahead of the US inflation data.
Speedbreaker: Semiconductor issues still hurting but supply constraints easing says Hyundai
Besides, the automobile major expects healthy demand to sustain during the initial phase of next year. In conversation with IANS, Hyundai Motor India's Director Sales and Marketing Tarun Garg said though it is hard to give a timeline for normal supply of semiconductors, however, the shortages have eased. "Semiconductor and input cost issues are global in nature but things are getting better. "
PM to address depositors in bank deposit insurance programme
Deposit insurance covers all deposits such as savings, fixed, current, recurring deposits, among others in all commercial banks, functioning in India. Deposits in State, Central and Primary cooperative banks, functioning in States or Union Territories are also covered. In a path-breaking reform, bank deposit insurance cover was enhanced from Rs 1 lakh to Rs 5 lakhs.
Indian-origin CEO Vishal Garg 'taking time off effective immediately': Report
According to Motherboard, the digital mortgage company's board of directors said in an email that the company has also hired an outside firm to "do a leadership and cultural assessment". The company did not immediately respond to a request for comment.
US consumer prices rise at fastest annual pace in almost 40 yrs
The consumer price index (CPI) last month rose 0.8 per cent from the previous month and 6.8 per cent from a year earlier, the largest 12-month increase since the period ending June 1982, Xinhua news agency quoted the Department as saying on Friday.
India's foreign exchange reserves down over $1.7 bn
The Reserve Bank of India's forex reserves decreased to $635.905 billion from $637.687 billion reported for the week. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
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