BUSINESS
Bitcoin reaches all-time high record after surging to $28,600 mark
The broad bull run in the cryptocurrency market and PayPal’s approval of Bitcoin has expanded the possibility of its usage, surging the demand of the cryptocurrency. The world's most popular cryptocurrency was last up 6.94 per cent at $28,119. Bitcoin has witnessed an exponential surge by almost half since crossing the $20,000 mark for the first time on December 16.
China's GDP growth rate down to 6% after manufacturing output reduces
China’s nominal GDP was 98.7 trillion yuan in 2019. The largest change was witnessed in the manufacturing sector with value-added output reducing by 503.8 billion yuan from an earlier estimate. The other sectors with large change include finance, transportation and construction sectors, according to the latest estimates.
Share markets all set for best year since 2017 as Nifty rise by 15%
The NSE nifty 50 indexes rose by 0.06 per cent at 13,99195 by 0444 GMT and the S&p BSE Sensex was 0.07 per cent higher at 47,784.31. Nifty rose for the seventh straight session and is about to hit it's highest of 13,997.85.
Boeing 737 MAX makes a return to the US skies
After two horrifying crashes that killed hundreds of passengers, the plane was grounded worldwide leading the airplane manufacturer into a crisis. Because the MAX was Boeing's top selling aircraft, after it was barred from skies, the company plunged into losses and struggled through two years, worsened by the Covid-19 hit pandemic.
ICEA urges for GST and import duty cuts, PLI for laptops
In its recommendations for the upcoming Union Budget, the industry body has also sought production-linked incentive (PLI) schemes for manufacture of laptops, tablets, printed circuit board assembly (PCBA), and wearables. ICEA Chairman Pankaj Mohindroo is of the view that imports are no longer a threat and duty of 20 per cent can be brought down since large-scale manufacturing is well on the way and the Indian industry can face competition.
Nifty hits 14,000 for the first time, Sensex touches new high
It opened at 47,753.11 and has touched an intra-day high of 47,865.56 and a low of 47,602.12 points. Nifty was trading at 13,993.70 points, higher by 11.75 points or 0.08 per cent from its previous close. The top gainers on the Sensex were HDFC, ICICI Bank and Maruti Suzuki India, while UltraTech Cement, TCS and Tech Mahindra.
Out of Rubble: Realty sector hopeful of high demand, recovery in 2021
Market participants expect a rise in demand in both residential and commercial real estate going ahead. Anuj Puri, Chairman of Anarock Property Consultants noted that the Indian residential real estate market proved its resilience in 2020, and 2021 holds promise for commercial office and residential real estate, as well as warehousing and data centers.
Loan apps scam: Chinese national who headed the operations arrested
So far, the cops have arrested 4 Chinese nationals out of which, three people, Yi Bai, Liang TianTian and the recently arrested Lambo were directly connected to the instant loan app scam. The 4th one, The fourth, Yah Hao, was arrested in August in connection with running an online gambling racket in which a large number of Indians had lost crores of rupees.
Samsung heir faces 9 years in prison over bribery case
The de facto leader of the country's top conglomerate was initially sentenced to five years in jail in 2017 for bribing a longtime friend of former President Park as he sought the government's help in succeeding his father and securing control of Samsung Group.
Wadhawan approaches RBI, CoC with revised offer for DHFL
In a letter to RBI Governor Shaktikanta Das, DHFL administrator R. Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of Rs 9,000 crore in cash and Rs 31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5 per cent per annum interest.
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