BUSINESS
China to become world's largest Internet of Things market in 2024: Report
China's spending on IoT is expected to reach around $300 billion by 2024, with the compound annual growth rate to stand at 13 per cent in the next five years, data from global market research firm International Data Corporation (IDC) showed. In 2024, the country's spending on IoT will account for 26.7 per cent of global spending in the sector, followed by the United States at 23.8 per cent and western Europe at 23.4 per cent, IDC data showed.
Will agitate against complex, arbitrary GST system: CAIT
According to CAIT, the GST has become a hurdle in the smooth retail trade because of the complexities and arbitrariness of its provisions. In a statement on Sunday, the traders' body said that it will convene a three-day conference of trade leaders of all states from February 8-10 at Nagpur to chalk out the future course of action. About 200 prominent trade leaders from across the country are likely to participate.
Rising trade deficit to dampen rupee's prospects
"The 25-month high trade deficit may put brakes for strong rupee appreciation. Equity markets also look stretched and a cool-off looks imminent now. Eyes will be on the budget and the ballooning fiscal deficit, which can be a challenge for the local currency," said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities.
ONGC's plan to merge MRPL with HPCL may have to wait till FY24
The process is now expected to be completed by FY24 as ONGC has decided to consolidate its refining and petrochemicals business around MRPL first before pushing for its merger.
Bill Gates is America's biggest farmland owner
Bill and Melinda Gates amassed 242,000 acres of land in the US, with the largest holdings in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588 acres), according to The Land report.
RBI remains 'steadfast' to take necessary steps to support economy: Guv
Delivering the Nani Palkhivala Memorial Lecture on Saturday, Das said that RBI's principal objective during the pandemic was to support economic activity and the policies have helped in easing the severity of the economic impact of the pandemic.
Financial markets need to be prepared for sudden decline: RBI Guv
Delivering the Nani Palkhivala Memorial Lecture on Saturday, Das said: "While abundant capital inflows have been largely driven by accommodative global liquidity conditions and India's optimistic medium-term growth outlook, domestic financial markets must remain prepared for sudden stops and reversals, should the global risk aversion factors take hold."
Mi 10i sets new benchmark in mid-price phone segment
Part of the premium flagship Mi 10 series portfolio, Mi 10i features a the 108MP camera coupled with Qualcomm Snapdragon 750G and future-proof 5G technology. According to the company, the "i" stands for India and the device is customised specifically for the domestic market.
Petrol, diesel prices unchanged across metros
In the national capital, petrol was sold at the record high level of Rs 84.70 per litre. Prices in Mumbai, Chennai and Kolkata were Rs 91.32, Rs 87.40 and Rs 86.15 per litre, respectively. Across the country, pump price of petrol and diesel remained static on Saturday.
Forex reserves up by USD 758 mn to lifetime high of USD 586.082 bn
In the previous week ended January 1, the reserves had increased by USD 4.483 billion to USD 585.324 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Don't Miss
Advertisement