BUSINESS
HDFC Bank commits to becoming carbon neutral by 2031-32
The Bank will continue to incorporate and scale up the use of renewable energy in its operations. As part of its ESG (Environmental, Social and Governance) strategy, the Bank will also focus on offering loans for green products like electric vehicles at lower interest rates and incorporating ESG scores in its credit decisions. The Bank is also working on a framework for issuing green bonds.
Musk attributes Tesla price hikes to 'supply chain pressure'
"Prices increasing due to major supply chain price pressure industry-wide," the CEO tweeted in response to a complaint about the changes. "Raw materials especially," Musk added. The CEO followed up to say that "microcontroller chips" are a particular challenge right now, The Verge reported.
App Store helped developers log $643B in commerce in 2020: Apple
The number of small developers worldwide has grown by 40 per cent since 2015 -- and they make up more than 90 percent of App Store developers. An independent study by economists from the Analysis Group defines small developers as those with fewer than 1 million downloads and less than $1 million in earnings across all their apps in a given year.
Nifty record run continues, Sensex cross 52K
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Index has opened in fine form this morning. We should be targeting the level range of 15,900-16,000. The overall trend is positive and hence any intra-day correction should be positively utilised to enter into long positions."
Fintech lending startup KreditBee raises Rs 60 cr from India SME
The Bengaluru-headquartered KreditBee in February concluded its Series C equity round worth $75 million (about Rs 545 crore) from Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures consisting of both primary and secondary investment. KreditBee is focused on providing financial inclusion in India via digital lending solutions in the form of personal loans.
US suspends tariffs on 6 nations for digital service tax negotiations
US Trade Representative (USTR) Katherine Tai said in a statement on Wednesday that the final determination in the one-year Section 301 investigations of DSTs adopted by the six countries is to impose additional tariffs on certain goods from these countries, reports Xinhua news agency.
RIL's strong balance sheet, high liquidity to boost Jio, Retail, O2C: Mukesh Ambani
His statement in RIL's annual report for FY20-21 noted that strong operating cash flow and the largest ever capital raise have further strengthened its balance sheet, enabling the company to deleverage and meet its net-debt zero commitment ahead of stated timeline. "We now have a strong balance-sheet with high liquidity that will support growth plans for our three hyper-growth engines - Jio, Retail and O2C," Ambani said.
ICICI Bank offers instant facility for cross-border inward remittances
The beneficiary gets the credit to the bank account instantly. This makes ICICI Bank the first bank in Asia-Pacific and second globally to offer the facility, called 'SWIFT gpi Instant', for cross-border inward payments. This service that offers instant credit works by connecting 'SWIFT gpi', the high-speed cross border rails with a real-time domestic payments infrastructure.
Medical stores witnessed a 32% transaction growth this year
The primary reason for this moderate impact has been absence of a national lockdown this year as compared to a harsh lockdown in March 2020 which forced several businesses to shut down. This year however, states have taken a more relaxed approach towards lockdowns keeping the economy in mind.
Global IoT market to surpass $1 trillion mark by 2024: Report
The global IoT market was worth $622 billion in 2020, up from $586 billion in 2019, and will grow to reach $1,077 billion by 2024, with a compound annual growth rate (CAGR) of 13 per cent over the period, according to data and analytics company GlobalData. The dominance of the enterprise IoT will continue for the foreseeable future. The enterprise IoT dominates the overall IoT market, generating 76 per cent of total revenue in 2020.
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