BUSINESS
Adani Group acquires 23.5% stake in Mumbai International Airport
In a regulatory filing, Adani Enterprises said that AAHL has acquired 28.20 crore equity shares of MIAL. AAHL is also a wholly-owned subsidiary of Adani Enterprises. "Adani Airport Holdings Ltd has acquired 23.5 per cent equity stake i.e. 28,20,00,000 equity shares of Rs 10 of Mumbai International Airport Ltd from ACSA Global Ltd and Bid Services Division (Mauritius) Ltd," the filing said.
Business confidence improves in India: NCAER survey
The NCAER Business Confidence Index (BCI) rose 29.6 per cent on a q-o-q basis during the third quarter of FY 2020-21. "The BCI rose further by 29.6 per cent on a q-o-q basis, rising from 65.5 in 2020-21:Q2 to 84.8 in 2020-21:Q3," and NCAER statement said. However, business sentiments remained worse than they were during the corresponding period in the previous year, it added.
Global sales of 4G, 5G-enabled PCs hit record 10M units in 2020
The global sales of cellular-enabled mobile PCs hit a new record as homeworkers sought improved connectivity in response to the closure of office facilities during the Covid-19 pandemic, according to the latest analysis from Strategy Analytics. The global shipments increased by 70 per cent to 10.1 million, the highest ever annual total.
AWS again leads global Cloud infrastructure market in Q4 2020
Total global expenditure was over $3 billion higher than the last quarter and nearly $10 billion more than Q4 2019, according to data provided by global research firm Canalys. Microsoft's Azure growth rate accelerated once again, up by 50 per cent to boost its market share in the global cloud services market to 20 per cent at the second spot.
Why surging Ether cryptocurrency is next best bet after Bitcoin
According to industry players, Bitcoin which is hovering around $40,000 is beyond the reach for most investors while Ether that has touched an all-time high is still within reach. "Now that Bitcoin has hit a record high and is consolidating, investors are adding Ether. Together the two cryptocurrencies constitute nearly 80 per cent of the total crypto market cap," Pagidipati said.
30 Chinese mobile games raked in $9.24B in 2020, PUBG leads
The top 30 profitable Chinese mobile games raked in $9.24 billion from the App Store and Google Play last year, up 47 percent year on year from $6.3 billion in 2019, the firm said. A total of 37 Chinese mobile games became earners of more than $100 million in overseas markets, 12 more than in 2019.
Petrol and diesel prices unchanged for 2nd consecutive day
Diesel prices also remained unchanged on Sunday. Prices of the fuel in Delhi, Mumbai, Kolkata and Chennai were Rs 77.13, Rs 83.99, Rs 82.33 and Rs 80.71 respectively. Petrol and diesel prices have largely been elevated amid reviving crude oil prices. The benchmark Brent crude oil is currently around $59 per barrel.
Delhi Metro facing financial distress owing to Covid-19 pandemic
At the same time, operating expenses including Operation and Maintenance (O&M) costs had to be continuously paid for the upkeep of the metro network which spans 285 stations and a total track length of 389 km. Additionally, there had been a decline in the non-fare revenue garnered from advertisement as well as shop rentals for the months when metro operations had been suspended.
Vaccine rollout increases hopes for air transport: Ind-Ra
Accordingly, the agency's India logistics sector report said: "While passenger numbers for airlines are still down on a YoY basis, the start of vaccination drives in several countries globally and the Indian government allowing 80 per cent of fleet to be deployed are key positives recently."
Large fiscal deficit could be inflationary but not an immediate threat: Crisil Research
Accordingly, the budget has replaced fiscal consolidation as a priority with expansion, well into the medium term. Besides, the fiscal glide path "itself has become footloose" with a deficit at 9.5 per cent for FY21, 6.8 per cent in FY22 and 4.5 per cent by fiscal 2026.
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