BUSINESS
India in no hurry to seek US nod for oil supplies from Iran, Venezuela
Sources privy to the development said that with oil market globally turning into a buyer's market amid oversupplies and Covid-19 related demand destruction, India sees no point in immediately seeking exemption from sanctions but would rather wait for an opportune time to make its case.
Vaccine High: Sensex to summit 50,000 mark, budget to give added boost
Besides, seasonal factors such as active FII inflows, abundant global and domestic liquidity as well as rising consumption trend, have investors glued to their stock holdings. Even volatility induced via profit booking is not hampering the market's up moves as every dip is seen as a buy in opportunity into the never ending bull run.
NYSE says no longer intends to delist 3 Chinese telecom players
Meanwhile, the NYSE Regulation division will continue to evaluate the applicability of a federal government's executive order to the issuers and their continued listing status, said the NYSE. The NYSE said last week that it has started the process of delisting the American Depositary Shares (ADSs) issued by the three telecom firms, invoking an executive order signed in November 2020.
Jack Ma’s Alibaba to shut down music app Xiami, speculations rife over company scaling down businesses
Alibaba’s music arm announced that Xiami music platform’s services will be halted from next month onwards. This shutdown will translate into a major setback for Alibaba as its plan to enter the Chinese entertainment industry will take a hit. "Due to operational adjustments, we will stop the service of Xiami Music from February 5,” the music arm of Alibaba said in a statement.
Hotel occupancy levels improved to 35% in November 2020: JLL
According to JLL, occupancy levels have grown month-on-month since September 20 to cross 35 per cent sector-wide in November 2020 (as per STR or Smith Travel Research data), which is the highest since the beginning of the nationwide Covid-19 lockdown in March 2020.
Microsoft Azure helps IRCTC chatbot boost user experience by 70%
Developed by conversational AI platform CoRover, the virtual assistant uses technologies like artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) to answer passenger queries. Following the success of AskDISHA, IRCTC is partnering with CoRover to co-sell and re-sell AI products and services to government and private organisations across industries, the company said in a statement.
Buying on Dips: Markets bounce back after initial slide, IT stocks shine
The market's up-move comes after global cues subdued investors' sentiments. Subsequently, investors dived into the market to buy stocks in decline which triggered another uplift. Amongst sectors, some losses were witnessed in the Metal, Auto and Realty indices. However, IT, Banking and Financial Services spaces traded in the green. Besides, FIIs continued their buying streak, at the same time, DIIs continue selling.
India witnessing V-shaped recovery since June: Finance Ministry Report
The Monthly Economic Recovery for December by the Department of Economic Affairs (DEA) also noted that the impending vaccination is set to spur the momentum in economic activity globally. The agricultural sector remains the bright spot of Indian economy, with healthy year-on-year growth of 2.9 per cent in rabi sowing, accelerating tractor sales, and reservoirs' live storage at 122 per cent of decadal average.
Replace Commercial Director Meenakshi Malik as she faces conflict of interest: Air India pilots
Air India pilots have asked the management to immediately replace the airline's Commercial Director Meenakshi Malik who is heading a consortium bidding for the national carrier.
FCA India to expand local product line-up with $250 mn investment
Accordingly, the all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and global-first three-row Jeep SUV, the Jeep Wrangler, and next generation Grand Cherokee flagship, which will both be locally assembled in FCA's joint venture manufacturing facility in Ranjangaon.
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