BUSINESS
EU court upholds $2.8 bn fine against Google for anti-trust practices
In a 2017 ruling, the European Commission had said that Google abused its dominant position on the market for online general search services in 13 countries in the European Economic Area, by favouring its own comparison shopping service, a specialised search service, over competing comparison shopping services.
India IT services market grows by 7.3% in first half of 2021
Overall, the Indian IT and business services market was valued at $6.96 billion and recorded a 6.4 per cent year-over-year (YoY) growth in the January-June period, compared to 5.1 per cent in the first half of 2020, according to the International Data Corporation's (IDC) worldwide semi-annual services tracker.
Airtel, Oracle ink Cloud & data centre deals to boost digital economy
To support the increasing demand for cloud services in India, Oracle will expand its India (Mumbai) region capacity with Nxtra by Airtel -- the data centre subsidiary of Airtel, the company said in a statement. The expanded Oracle Cloud Mumbai Region will be available in 2022.
Paytm IPO oversubscribed 1.33 times so far with half a day left
As per data available on the exchange at 1.47 p.m., Paytm IPO has been subscribed 1.33 times so far, with the QIB tranche being 1.88x subscribed. A total of 6,41,16,546 Paytm shares have been bid for as opposed to the 4,83,89,422 shares available. Earlier, on Day 1, Paytm's IPO had secured the highest ever retail percentage subscription for IPOs with retail sizes in excess of Rs 1,000 cr, over the last decade, which was subsequently oversubscribed early on Day 2.
Electric vehicle sales set to jump 80% in 2021: Report at COP26
The Factbook documents the progress that has been made towards global net-zero emissions in the road transport sector, and shows that the future is brighter than ever for zero-emission vehicles. In the first half of 2021, sales of passenger electric vehicles (including battery electric, plug-in hybrid and fuel cell vehicles) were 140 per cent higher than the same period in 2019, reaching seven per cent of global passenger vehicle sales.
General insurers log Rs 17,679 crore premium in Oct
According to IRDAI, the 31-non-life insurers had earned a premium of Rs 17,679.98 crore last month up from Rs 15,906.71 crore earned in October 2020. Government owned The New India Assurance Company Ltd led the industry earning Rs 2,705.84 crore followed by ICICI Lombard General Insurance Company Ltd with Rs 1,675.29 crore and HDFC Ergo General Insurance with Rs 1,236.10 crore.
India's Covid vax campaign, teeming festivities lend renewed optimism to economic recovery: Finance Minister
The Monthly Economic Review for October, 2021 released by the Department of Economic Affairs (DEA) on Wednesday said that with India's Covid-19 vaccination campaign crossing new milestones in rapid succession and teeming festivities lending renewed optimism to India's ongoing economic recovery, further demand stimulation, fuller restoration of supply chains, narrowing of demand-supply mismatches and greater employment generation, are in the offing.
P&G Health reports higher sales in Sept quarter, profit falls marginally
The company has recorded a strong performance with sales of Rs 267.8 crore, up 4 per cent vs a year ago. The Profit After Tax (PAT), however, fell marginally to Rs 55.4 crore against Rs 59.3 crore a year ago. Milind Thatte, Managing Director, Procter & Gamble Health Limited said: "We delivered a strong performance in our first quarter of fiscal 2022 focused on executing our strategies of offering superior brands, driving productivity, increasing reach, and improving awareness.
Iloilo: First city in Asia where 3 properties were sold for cryptocurrencies
Iloilo, located in the Panay region of the Philippines, has a population of just over 2 million. World renowned for its Spanish colonial churches and old houses, it is the premier city in the Asia Pacific where three properties have been sold in exchange for Bitcoin and Litecoin according to several reports from LeapRate, Asia Property Awards, and Asia's largest online property portal group, Property Guru's Property Report.
Fuel prices remain unchanged even as global oil rates firm up
Accordingly, petrol and diesel prices continued to be stable for sixth consecutive day on Wednesday under the daily price revision mechanism followed by oil marketing companies. The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on Tuesday from previous day's Rs 110.04 a litre, remains the same. The diesel prices also remained unchanged in the capital at Rs 86.67 a litre. In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre, while diesel is being sold at Rs 94.14 a litre.
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