BUSINESS
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.
Home sales improves by 50% in Oct-Dec: Report
A total of 21,800 units were sold during the last quarter of 2020 across eight major cities, it said. The '99acres.com Insite' report attributed the improving home buying sentiment, to the widened negotiation window, competitive home loan interest rates and festive demand.
IPO proceeds in India rises 61% in 2020, sentiments revive in Q4
The 'EY India IPO Trends Report: Q4 2020' showed that the increase in IPO proceeds came despite the fact that the number of IPOs in 2020 was just 43, down 33 per cent from 2019. It said that the fourth quarter of 2020 saw a strong rebound in IPO activity and market sentiment remains positive.
Financial health of Indian telcos to impact 5G launch: CCI Report
The 'Market study on the telecom sector in India' noted that spectrum ownership creates a competitive advantage for operators providing wireless access services and access to a larger quantum of the contiguous spectrum can increase operational efficiency.
Amazon penalised Rs 45,000 for cancelling student's laptop order
Amazon has been penalised by the Odisha State Consumer Dispute Redressal Commission (Commission) as compensation to law student Supriyo Ranjan Mahapatra. According to Amazon, the deal was between a third-party seller and the customer on their platform and that Amazon was not a party to their contract.
Textile body seeks customs duty hike on man-made yarns in Budget
According to the industry body, monthly average imports of Virgin Polyester Spun Yarn have increased manifold from 2015 to 2020. Imports from Vietnam alone have increased over 100 times, as per NITMA. Sanjay Garg, President of NITMA said that representations regarding the import concerns have been sent to the ministries of finance and textiles.
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