BUSINESS
Flipkart sees 40% growth in early access Big Billion Days sales
More than 2 million customers pre-booked close to 5 million products just prior to Early Access by paying just Re 1. Nearly 45 per cent of customer demand has been from tier 3 cities and beyond, signalling a strong preference for high-value goods/items, the commerce platform said in a statement.
Flipkart, Amazon log record early sales as festive week begins
More than 2 million customers pre-booked close to 5 million products just prior to early access by paying just Re 1.
Nearly 45 per cent of customer demand has been from tier 3 cities and beyond, signalling a strong preference for high-value goods/items, Flipkart said in a statement.
"This year, TBBD has started off seeing upbeat participation by customers and sellers. We will expand and strengthen our ecosystem of sellers and MSMEs, enabling better income and livelihoods for millions and expand our reach across the country," said Nandita Sinha, Vice President, Customer and Growth, Flipkart.
After oil, gas price may see surge upsetting CNG, PNG rates
As per an assessment of the gas market done by Kotak Institutional Equities (KIE), domestic gas price are expected to more than double to $6.6-7.6/million BTU in 1HFY23E from the current level of $3.2/million BTU available during 2HFY22.
Market volatility to continue with some initial surge in markets
The Indian Rupee lost 42 paisa or 0.57 per cent to close at Rs 74.12 to the US Dollar. Dow Jones lost 471.54 points or 1.36 per cent to close at 34,326.46 points. A large part of the losses was reversed on Friday when Dow Jones gained 482 points. Had that not happened, loses would have been close to 950 points.
Petroleum taxes to take govt's excise collections to historic high levels in FY22
As per latest government data, central excise duty collection has already touched Rs 1,37,236 crore till August in FY22. This is a growth of almost 37 per cent over Rs 1,00,398 crore excise revenue collected by the Centre in the first five months of FY21.
Tesla sales continue to surge in face of chip shortages
The company released its third-quarter delivery and production numbers -- confirming it achieved new records again, reports Elektrek. According to the report, it looks like this quarter's delivery wave was successful as Tesla reported record deliveries of 2,41,300 electric cars in the third quarter of 2021.
Three-tier GST rate structure likely by next fiscal
Sources working on the GST rate rational said that a three rate tax structure may become a reality early next fiscal after the views of a group of ministers (GoM) set for purpose is presented before the GST Council. The idea is, sources said, to move away from the present broad five rate structure of zero, 5, 12, 18 and 28 per cent to just three of 5, 18 and 28 per cent.
Centre notifies rules to scrap retrospective tax clause
Accordingly, the amendment bill notified on October 1, 2021, will enable the scrapping of the contentious retrospective tax demand provisions. Significantly, the notification of the bill is expected to end the much stretched tax disputes with UK's Cairn Energy, and Vodafone Plc.
Pakistan sells rice by maligning India
Disinfolab said in a report that taking advantage of this campaign, from September 30, the Pakistani accounts started another campaign to malign India by boycotting Indian Food products. The 'boycott business' come with an economic logic, it added. Analyzing this campaign gave interesting details about the mechanics of Pakistan troll factories.
Supply crunch morphing into full-blown global crisis
All the problems are in one way or the another tangled up in the surge of post-pandemic consumer demand, but taken together they threaten what one leading economist calls a "stagflationary wind" that could blow the global economy off course, the report said.
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