BUSINESS
RBI releases circular on risk-based internal audit for NBFCs, UCBs
It intends, to provide the essential requirements for a robust internal audit function, which include sufficient authority, stature, independence, resources and professional competence, so as to align these requirements in larger NBFCs, UCBs with those stipulated for scheduled commercial banks, said an RBI statement.
Worldwide semiconductor revenue up 5.4% in 2020: IDC
The market for semiconductors in computing systems, such as PCs and servers, outpaced the overall semiconductor market, growing 10.9 per cent year over year to $152 billion in 2020, said the report. The semiconductor market will reach $476 billion in 2021, a 7.7 per cent year-over-year growth rate as the various Covid-19 vaccines are disseminated and economies begin to open and gradually recover, according to a forecast by IDC.
Rs 6K Cr given to states to meet GST compensation shortfall
Till now, 76 per cent of the total estimated GST compensation shortfall has been released to the states and UTs with the Legislative Assembly. Out of this, a number of Rs 76,616.16 crore has been released to the states and a number of Rs 7,383.84 crore has been released to the three UTs with the Legislative Assembly.
Union Budget 2021: 10 things individual taxpayers should know
The budget contains various relief measures and proposals to facilitate ease of compliance for the taxpayers. Senior citizens who are aged 75 or above, earning only pension or bank interest income, are not required to file income tax return. T
Sensex, Nifty hit fresh record highs
BSE Sensex touched a high of 50,231.39, and the Nifty50 touched a record high of 14,754.90 points during the initial trade. Healthy buying was witnessed in healthcare, consumer durables and IT stocks. The market has, however, trimmed gains and has declined from its record levels. Around 9.40 a.m., Sensex was trading at 49,930.61, higher by 132.89 points or 0.27 per cent from its previous close of 49,797.72.
Union Budget 2021: Sector-wise allocation of funds
Nirmala Sitharaman has also introduced the concept of bad banks in this budget which will help other lenders and other financial institution to help clear their balance sheets. One of the key challenges that finance ministers over the years is the increasing amount of bad loans of the banks.
AWS head Andy Jassy to replace Jeff Bezos as Amazon CEO
Andy Jassy, who is the CEO of the company's profit-making Cloud arm Amazon Web Services (AWS), will replace Bezos. The news came as Amazon registered its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday December quarter amid the Covid-19 pandemic.
Uber acquires alcohol delivery service Drizly for $1.1B
Drizly is the leading on-demand alcohol marketplace in the US, available in more than 1,400 cities. After the completion of the transaction, Drizly will become a wholly-owned subsidiary of Uber. "By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead," said Uber CEO Dara Khosrowshahi.
Google Cloud lost over $5.5B in 2020, still growing fast
Google Cloud's sales revealed a $5.6 billion annual loss in 2020, but a nearly 50 per cent jump in revenue ($13 billion) compared to 2019. Google Cloud reported $3.8 billion in sales in the fourth quarter -- a 46 per cent jump from the fourth quarter of 2019. Alphabet stock was up nearly 8 per cent in extended trading on Tuesday.
Amazon surpasses $100B in quarterly revenue for 1st time
The company doubled its net income to $7.2 billion for the quarter, compared to $3.3 billion for the same period in 2019. Amazon's full-year 2020 net sales were up 38 per cent, to $386.1 billion. Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO of AWS, will become Chief Executive Officer at that time.
Don't Miss
Advertisement