BUSINESS
China was largest recipient of FDI in 2020: Report
The United States came second with $134 billion, the United Nations Conference on Trade and Development (UNCTAD) said in a report released on Sunday. In 2019, the United States had received $251 billion in inflows and China got $140 billion.
Indian billionaires increased their wealth by 35% during Covid-19 lockdown: Oxfam Report
The 1,000 richest people on the planet recouped their Covid-19 losses within just nine months, but it could take more than a decade for the world's poorest to recover from the economic impacts of the pandemic, reveals the report titled 'The Inequality Virus,' published on the opening day of the World Economic Forum's 'Davos Agenda'.
19 IPOs worth $1.84 billion in Dec 2020 show great momentum despite COVID-19 slump in India
There were a total of 10 Initial Public Offers (IPOs) in the main market and 9 in the SME (Small and Medium Enterprises) segment in 2020 Q4, the report said. There were 19 IPOs recorded in the latest December quarter which were valued at USD 1.836 billion with the largest amongst them being Gland Pharma with an issue size of 869 million US dollars. There were just 11 IPOs in the year-ago period.
CII pushes for Digital Infra Fund with more Govt investment, for inclusive growth and employment
The industry body has suggested that the Government make a token budgetary allocation of Rs 5,000 crore in the upcoming Budget 2021-22 towards building the Broadband Infrastructure Fund. It has highlighted that a rapid acceleration in the creation of digital infrastructure will be an effective tool for inclusive digitalisation which will help add to economic growth and employment.
Government's primary spending to grow 2nd lowest in two decades in FY22
According to a report on the state of economy by Motilal Oswal Institutional Services, the government would be able to narrow fiscal deficit to 5.5 per cent of GDP in FY22 from expected level of over 7 per cent in FY21, but this would assume a 19 per cent growth in total receipts in FY22 and an increase of just 5.6 per cent in total spending by the Central government.
13th Instalment of Rs 6K cr released to States to meet GST compensation shortfall
Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council.
Fuel prices rise hold for 2nd consecutive day
Accordingly, the pump price of petrol remained at Rs 85.70 a litre in Delhi while diesel prices in the capital was unchanged at Rs 75.88 a litre. Across the country as well the fuel prices maintained the same price line. So, petrol is priced at Rs 92.28 a litre in Mumbai, Rs 88.29 a litre in Chennai and Rs 87.11 a litre in Kolkata.
Tesla sues ex-employee for allegedly stealing trade secrets
The lawsuit against Alex Khatilov alleged that he stole filed from Tesla's internal Warp Drive software. The back-end software system by Tesla automates "a range of business processes involved in manufacturing and selling its cars." The company also accused him of "deleting possible evidence when security teams confronted him", the report said on Sunday.
Mukesh Ambani made Rs 90Cr/hr amid pandemic while 24% people earned under Rs 3000/month: Oxfam
As per the Oxfam Inequality Report called this year as "The Inequality Virus Report" because of the pandemic said the pandemic has also widened the existing social, economic and gender-based inequalities. During pandemic, on the day when Indian billionaire, Mukesh Ambani, rose to become the fourth richest man in the world, a farmer, Rajesh Rajak, and his three daughters died by suicide as a result of his job loss.
Share Market: Sensex sheds gains amid volatile trade
Selling pressure was witnessed in oil and gas, energy and auto stocks. Buying in banking and finance stocks, however, curbed the losses. Around 10 a.m., Sensex was trading at 48,791.59, lower by 86.95 points or 0.18 per cent from its previous close of 48,878.54.
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