BUSINESS
Qualcomm buys chip design startup Nuvia for $1.4 bn
The addition of Nuvia CPUs to Qualcomm Technologies' already leading mobile graphics processing unit (GPU), AI engine, DSP and dedicated multimedia accelerators will further extend the leadership of Qualcomm Snapdragon platforms.
Sensex slips 200 points, IT stocks plunge
Heavy selling pressure was witnessed in IT and metal stocks. Around 10.20 a.m., Sensex was trading at 49,292.97, lower by 199.35 points or 0.40 per cent from its previous close of 49,492.32 points. It opened at 49,432.83 and has touched an intra-day high of 49,487.86 and a low of 49,182.37 points.
India's medium-term growth to slow to around 6.5% after initial rebound: Fitch
India's economy had been losing momentum even ahead of the shock delivered by the COVID-19 crisis. The rate of GDP growth sank to a more than ten-year low of 4.2 per cent in 2019, down from 6.1 per cent the previous year. The pandemic bought a human and an economic catastrophe for India, with nearly 1.5 lakh deaths. Though the deaths per million are significantly lower than in Europe and the US, the economic impact had been much more severe.
Vijay Mallya denied permission to appeal in UK bankruptcy case
The 65-year-old businessman, who remains on bail in the UK, had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings until the debt issue before the Supreme Court in India was decided upon.
Government to sell up to 10% stake in SAIL via OFS
"Offer for Sale (OFS) in SAIL opens on Thursday (14.1.2021) for non-retail investors. 15th January (Friday) is for retail investors. GoI would divest 5 per cent equity with a 5 per cent greenshoe option," said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) on Twitter.
Gold ETFs log record 877 tonnes inflow in 2020: WGC
The WGC said that all regions registered significant growth in assets under management (AUM), more than the foreign reserve holdings of any central banks except for the US.
Maharashtra stops automatic adoption of Centre's GST circulars
A circular issued by the Maharashtra Goods and Service Tax Department (MGSTD) on January 12 says that the state would examine all circulars issued by the Central Board of Indirect Taxes and Customs (CBIC), and upon examination, issue a separate circular regarding its applicability for the implementation of the MGST Act.
Wipro reports 21% growth in Q3 net profit
The company had reported a net profit of Rs 2,455.9 crore during the corresponding period of the last fiscal (FY2019-20). Its revenue increased by 1.3 per cent during the period under review to Rs 15,670 crore.
FPIs may be allowed to get tax treaty benefits on dividend income
The move is expected to facilitate foreign portfolio investors (FPIs) as they will not need to claim a tax refund for surplus taxes withheld by Indian corporates, while filing their annual income-tax returns in India.
Dream run for metal segment should continue in Q4, earnings shine
According to the report on metal and mining sector by the brokerage, the current run of rising metal prices in line with demand revival in autos, white goods, infrastructure segment and trade re-stocking with lower coking coal prices should result in dream profitability for most companies that witnessed one of the worst phases during the lockdown period last year.
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