BUSINESS
Samsung is our most important partner on Android: Sundar Pichai
In an interview with The Verge, Pichai said that Samsung is a big partner for Google's devices and services team as well. Under the hood, the smartphones are powered by a Tensor chipset, which has been developed in-house by Google. The Tensor chip houses the Titan M2 security chip that Google says has the most layers of security.
India to see salary hike at 9.3% in 2022: Report
This is an increase of 8 per cent compared to 2021, revealed the latest report by advisory, broking and solutions company Willis Towers Watson. India is followed by Sri Lanka (5.5 per cent), China (6 per cent), Indonesia (6.9 per cent), and Singapore (3.9 per cent) for the highest salary increase for 2021 in the Asia Pacific region.
Inflationary concerns subdue market; metal stocks fall
Accordingly, rising crude oil prices along with mixed Asian markets had dented investors' sentiments. However, the key two indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening but fell thereafter. Globally, Asian markets were largely down following inflation worries due to surging energy prices.
US will not unfreeze Afghan foreign assets
US's deputy minister of Finance Wally Adeyemo said that it is important to keep pressure on the Taliban, but added that the people of Afghanistan should not be harmed. Adeyemo said that new means must be sought in order to provide Afghan people with humanitarian aid.
IMF Chief Economist Gita Gopinath to return to Harvard University
Harvard University had extended Gopinath's leave of absence on an exceptional basis by one year, which has allowed her to serve as Chief Economist at the IMF for three years. In announcing Gopinath's intention to retire from the Fund, Georgieva stated: "Gita's contribution to the Fund and our membership has been truly remarkable, quite simply, her impact on the IMF's work has been tremendous.
Pakistan rupee tumbles to fresh all-time low
The Pakistani rupee on Wednesday tumbled to a fresh all-time low at Rs 173.50 against the greenback. The greenback gained 37 paise at the start of the trading day. On Monday, the rupee closed at Rs 172.72 against the US dollar. Rising demand for the US dollar is driving up its value despite a number of measures introduced by the State Bank to ease the pressure on the exchange rate.
Better performance for ASEAN markets compared to extremely expensive India: UBS
UBS has been underweight Chinese equities since summer 2020. A recovered economy and expensive market faced tighter monetary policy while the rest of the region offered better cyclical recovery prospects and more attractive valuations. UBS said the major thematic call from mid 2020 through mid 2021 was to overweight the cyclical markets.
Fuel rates hiked again, petrol at Rs 106.19 a litre in Delhi
The price of petrol in Delhi rose to its highest-ever level of Rs 106.19 a litre and Rs 112.11 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel now comes for Rs 102.89 a litre; while in Delhi, it costs Rs 94.92 a litre. The fuel prices remained static on Monday and Tuesday, but had risen for four straight days by 35 paise per litre each before (October 13-16).
IMF revises down Asia economy growth forecast to 6.5%
"The resurgence of the pandemic, amid initially low vaccination rates, slowed the recovery in the Asia-Pacific region, especially in emerging market and developing economies," Chang Yong Rhee, director of the IMF's Asia and Pacific Department was quoted as saying by Xinhua news agency.
After Tanishq, Fabindia forced to withdraw advertisement
Ironically, the collection which paid homage to Indian culture received criticism from senior BJP leaders who accused the brand of 'Abrahamisation' of the Hindu festival of Diwali by using an Urdu term. As per the company 'Jashn-e-Riwaaz' stands for a celebration of rituals or festive celebrations.
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