BUSINESS
Global airlines' net losses expected at $11.6 bn in 2022: IATA
"The magnitude of the Covid-19 crisis for airlines is enormous. Over the 2020-2022 period, total losses could top $200 billion. To survive, the airlines have dramatically cut costs and adapted their business to whatever opportunities were available," said IATA's Director General, Willie Walsh. According to IATA, domestic travel demand will near pre-crisis levels in 2022.
SEBI mandates exchanges to make monthly disclosure of complaints against them
In a circular, the market regulator has said that such disclosures will have to be made by 7th of the succeeding month in proper format that has been circulated to the exchanges. These disclosure requirements are in addition to those already mandated by SEBI. The provisions of the current circular will come into effect from January 1, 2022, the circular said.
SEBI bars TV anchor, market expert, others for fraudulent and unfair trades
It also issued directions for impounding gains of Rs 8.4 crore made by the operators in their fraudulent deals. "There is a repeated pattern of such fraudulent and unfair trading activity being carried out by these entities," Sebi whole-time member Madhabi Puri Buch said in an interim order. "The directions are preventive in nature as Pandya has the potential, in view his association with the media channels, to possibly be part of other shows/channels/media giving recommendations/contributing to any activities related to the securities market. Pandya and Alpesh Furiya have also appeared on a show hosted by the spouse of Pandya," the order said.
SEBI proposes HNI sub-categorisation for IPO allotment process
Accordingly, SEBI in a consultation paper expressed concerns over the proportionate allotment methodology in the case of NIIs. At present, the minimum bid size for HNI application is above Rs 200,000. "It is observed that a few large NIIs are able to crowd out smaller NIIs for allotment in an IPO," the consultation paper said.
Expectations of healthy quarterly results push-up indices; realty stocks rise
Globally, markets remained on a back foot weighed by ongoing concerns over the health of property giant China Evergrande Group and ahead of an OPEC meeting. Sector wise, realty, power, metals, capital goods and healthcare indices gained whereas consumer durables index fell. Consequently, the 30-scrip sensitive index closed at 59,299.32 points up 533.74 points or 0.91 per cent.
Myntra registers biggest-ever opening day for its Big Fashion Festival
The opening day saw an overwhelming response with over 19 million visitors from across the country, making it Myntra's highest-ever Day 1 of BFF thus far. The first day of the eight-day event witnessed customers shopping over 4 million items, of which 40 per cent of the orders were from Tier 2 and 3 cities and beyond.
Flipkart set to lead smartphone, fashion shopping in festive season
Since its launch in 2014, Flipkart has led spending during the festive month due to its strength in the smartphone and fashion categories, which account for over 50 per cent of total online retail sales in India
Now buy, sell Bitcoins via UPI in Indian currency on Unocoin
To trade on the Unocoin platform, a minimum top-up of Rs 1,000 is required. The maximum that the user can deposit can range up to Rs 2 Lakh via UPI mode and Rs 1.5 crore via bank IMPS/UPI/NEFT/RTGS mode, the startup said in a statement.
New CBDT chief divested of investigation, ex Mumbai DGIT takes charge of position
Being the head of the tax administration board, the CBDT Chairman will coordinate and exercise overall supervision of the body, including getting updates on matters related to tax investigations. In an office order issued by the Department of Revenue, CBDT's Member, Investigation, has been made sole authority to exercise supervision over all Directorates General of Income Tax (Investigation), Chief Commissioners of I-T and Directorates General of Income Tax (Intelligence & Criminal Investigation).
Demolition of twin towers: SC junks Supertech's plea seeking modification
A bench of Justices D.Y. Chandrachud and B.V. Nagarathna noted that grant of such a relief is in the nature of a review of the judgement passed by the top court, as it held that its judgment directing demolition of twin towers specifically affirmed the directions which were issued by the Allahabad High Court for the demolition of the towers - T 16 and T 17.
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