BUSINESS
Indian businesses suffer more cyber attacks with remote working
While 38 per cent of respondents from India continue to be very concerned about the security risks while working remotely, globally, this figure stands at 39 per cent, according to '2021 Thales Global Data Threat Report', a commissioned study conducted by 451 Research, part of S&P Global Market Intelligence.
Profit booking, global cues subdue indices
Accordingly, after a healthy buying spree, the market breadth turned weak due to profit booking and negative European cues. Initially, the key indices had a gap-up opening. The two key domestic indices gradually rose to touch record high levels intra-day. Consequently, the NSE Nifty50 touched a record high of 16,701.85 points, while the S&P BSE Sensex reached 56,118.57 points during the session. But profit booking and negative European cues dented the sentiments.
Oil palm sector welcomes govt's moves to boost production in India
The Oil Palm Developers and Processors Association (OPDPA) said the slew of measures announced by the government on Wednesday will make it viable for the industry to operate and ensure the country is self-sufficient in meeting its edible oil requirements. The Union Cabinet on Wednesday cleared the setting up the Rs 11,040 crore National Mission on Edible Oils-Oil Palm to boost palm oil production in India and reduce dependence on expensive imports from Southeast Asia.
Reclusive Radhakishan Damani breaks into top 100 richest list
Damani, who grew up in a humble background is now ranked 98 on the Bloomberg Billionaires Index with a net worth of $ 19.2 billion. The Bloomberg Billionaires Index is a daily ranking of the world's richest people. The other Indians in the top 100 are Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar, Lakshmi Mittal.
Govt sensitive about petroleum prices: Hardeep Puri
Puri blamed the previous Congress government's decisions for the current increase in prices of petroleum products. Addressing a press conference at the BJP's Delhi unit office on the third day of 'Jan Ashirwad Yatra', Puri said, "We are sensitive towards it (prices of petroleum products) and are taking all the possible steps including blending of ethanol which the government will increase to 20 per cent.
2nd wave of Covid slows profit growth rate of financial cos
According data in the Reserve Bank of India's (RBI) Bulletin for August, the growth in net profit of financial companies rose was 40.5 per cent in the April-June quarter, compared to the 594.4 per cent growth in January-March quarter. Expenditure growth remained subdued, reflecting the easy cost conditions in the economy as a result of the Reserve Bank's measures to expand liquidity and ease financial conditions.
India Inc credit outlook turns positive, upgrades rise: Crisil
The increase in coverage of vaccinations should mitigate the impact of a third wave if it comes about, the agency said. "The credit ratio (upgrades to downgrades) in the first four months of this fiscal improved to more than 2.5 times," the agency said. "It had touched a decadal low of 0.54 time amid the first wave in the first half of fiscal 2021, before recovering to 1.33 times in the second half, buoyed by a rebound in demand."
India's GDP expected to grow by 20% YoY in Q1FY22: ICRA
ICRA also expects the gross value added (GVA) at basic prices at constant 2011-12 prices at 17 per cent in Q1FY22. The ratings agency said that the trend has been supported by healthy Central and state government capital spending, robust merchandise exports and resilient demand from the farm sector. Muted base of last year's nationwide lockdown has aided in concealing the impact of the second wave of Covid-19.
RBI announces Open Market Purchase under G-sec Acquisition Programme 2.0
The open market purchase was announced by the RBI after the Monetary Policy Review meeting early this month. It had said that it will conduct auctions of Rs 25,000 crore each on August 13 and August 26. In the fresh auction, the RBI will purchase government securities through a multi-security auction using the multiple price method. The purchase will be of securities maturing between January 2026 and June 2035.
21st Welcomhotel from ITC Hotels opens in Katra, targets pilgrims, adventure sport lovers
Announcing the launch, Anil Chadha, COO, ITC Hotels, said, "Katra truly offers the best of enriching experiences for both pilgrims and leisure tourists." He added that ITC hotels follow the globally acknowledged DNV Platinum-certified WeAssure health and hygiene protocols so that travellers "enjoy their holiday with complete peace of mind." The hotel is located 45km from the Jammu airport.
Don't Miss
Advertisement