BUSINESS
Shapoorji's $1.2 billion deal with ADIA put on hold
Recently, the group defaulted on repayment to its listed subsidiary, Sterling & Wilson, which has given it another year to repay the loans.
Tatas to take over 76% stake in AirAsia
Tatas are likely to integrate AirAsia with its low-cost subsidiary, Air India Express by potentially converting the debentures into equity at a later stage.
EXPLAINED: NBFCs and banking license race
Recently, according to recommendations of an internal working group of RBI released on 20th November, non-banking lenders with asset sizes of Rs. 50,000 crore might be given the permission to convert into banks.
Payments firm Cashfree raises $35mn led by Apis
Cashfree said it has been profitable since its first year of operations and counts more than 50,000 businesses amongst its merchants including leading internet companies such as Cred, BigBasket, Zomato, HDFC Ergo, Ixigo, Acko, Zoomcar, and Delhivery, among others.
Petrol, Diesel prices hiked for 2nd straight day
The price of petrol has been increased to Rs 81.38 from Rs 81.32 per litre in the national capital on Friday. Similarly, price of diesel has been increased by 20 paisa per litre to Rs 70.88 per litre in Delhi.
India's FY22 GDP growth forecast raised to 8.5%: Barclays
Barclays stated that the flattening of Covid-19 curve in the country and the chances of an effective vaccine early next year alongside high seroprevalence of antibodies across the population are the major contributing factor for a more durable economic recovery.
Microsoft's new programme to aid healthtech startups grow in India
Microsoft has collaborated with startup incubator Social Alpha to facilitate the growth of participating startups. The initiative focuses on helping participating entrepreneurs with technical support as well as resources for co-selling and co-building tech tools to achieve better results across the healthcare sector.
Sensex reclaims 44,000 level, Nifty up by 41.50 point
At around 2 pm, Sensex was trading at 44,112.37, higher by 159.66 points or 0.36 per cent from its previous close of 43,952.71.
Vaccine Hopes: Sensex breaches 44,000, Nifty hit record highs
Moderna on Monday said that its experimental vaccine is 94.5 percent effective in preventing Covid-19, boosting hopes of the economy emerging from a year of pandemic-induced downturn. Healthy buying was witnessed in banking, finance, and metal stocks.
EXPLAINED: What leads to a 'technical recession'
In simple words, recessionary phase for an economy arises when overall output of goods and services, i.e. GDP, contracts from one quarter to another, and it becomes 'recession' when the phase keeps on happening repetitively over several quarters.
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