BUSINESS
Petrol, diesel prices remain unchanged for 5th straight day
Accordingly, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on November 4 from the previous day's Rs 110.04 a litre, remained the same on Tuesday. The diesel prices also continued to be stable 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 and diesel Rs 94.14 a litre.
Vistara commences non-stop flights between Delhi and Paris
Vistara is scheduled to fly twice a week between the two cities - on Wednesdays and Sundays. "Paris is one of the most popular destinations in Europe and CDG an important airport for any airline intending to serve the region," Vistara Chief Executive Officer Leslie Thng said. "Given the strong economic and cultural ties, there is a high demand for direct connectivity between India and France, and therefore Paris fits our network very well."
Over 1,700 consignments of uncleared/seized hazardous imports disposed off
Hazardous consignments are often goods whose import is restricted in terms of extant policy such that they may require license for import. Such goods may also be in the nature of banned materials not allowed to be imported, which are attempted to be smuggled into the country. Such seized hazardous goods need to go through a quasi-judicial process which also has appeal provisions, which tends to make the disposal process take more time.
Reliance exits shale operations in North America
With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America. A purchase and sale agreement (PSA) was signed between REUHLP and Ensign on November 5 for this sale. The sale is at a consideration higher than the current carrying value of the assets.
India's FY22 GDP expected to grow at 10-10.5%: Brickwork Ratings
According to the ratings agency, Q2FY22 GDP is expected to grow at 8.3 per cent year-on-year on the back of a faster-than-expected revival in economic activities as well as a decline in new Covid cases, leading to sustained improvement in growth prospects.
Prices per unit to be printed on pre-packaged goods now
This is being done to safeguard the interest of consumers, according to the Department of Consumer Affairs under the Ministry of Consumer Affairs, Food and Public Distribution. The Ministry has decided to omit Rule 5 of the Legal Metrology (Packaged Commodities), Rules 2011 defining the Schedule II prescribing the pack sizes of various types of commodities.
With base effect advantage waning, September IIP expected to decelerate
As per the report, the deceleration in September IIP numbers would largely be on account of normalisation of base effect. The disruptions caused by Covid pandemic has pushed down IIP numbers sharply last year. The IIP numbers for September along with CPI inflation numbers are expected to be announced on November 12.
Blockchain to drive $10bn savings in cross-border payments by 2030
The report forecasts Blockchain adoption to increase over the next decade, with an expected two billion cross-border transactions facilitated by Blockchain in 2030, "Blockchain implementation in cross-border settlement will enable stakeholders to leverage improved payment transparency and traceability, a critical advantage in an omni-channel payments market."
APEC region's economy to grow by 6% in 2021
According to the latest APEC Regional Trends Analysis (ARTA), the Asia-Pacific expanded by 8 per cent during the first half of 2021, following a 3.7 per cent contraction in the first half of 2020. However, growth among member economies continues to diverge and uncertainties remain substantial, Xinhua news agency reported on Monday.
L&T valuation doesn't capture multi-year investment cycle
"The former is probably not correct since the market is very excited about the prospects of a multi-year investment cycle in India and LT is well-positioned to participate in the same. The latter may require restructuring LT's conglomerate structure," it said. "In our view, LT's valuation does not adequately capture a potential multi-year investment cycle and LT's unique position in a large market opportunity."
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