BUSINESS
Indian ABS performance risks remain despite better collections: Moody's
"As payment moratoriums came to an end in August, collections in rated Indian ABS improved markedly in September and October, although they remain below pre-coronavirus levels," said Dipanshu Rustagi, a Moody's Assistant Vice President and Analyst.
India and China to lead global economic recovery after COVID crash
India has already shown great incentives in economic recovery thanks to the festive season business towards the end of 2020. It is currently leading the world’s economic recovery with GDP growth rate set to reach 9% in 2021. The festive season helped the economy to bolster a 12.5% forecast increase in private consumption.
Shopping feature arrives on Instagram Reels globally
Businesses and creators will be able to tag products when they create Reels, and viewers can tap through those tags to buy or save them, reports The Verge. "A branded content tag is also available for influencers who are paid for their posts", the report said.
Walmart commits to export $10 bn India-made goods each year by 2027
In a statement, Walmart said that its new export commitment is expected to provide a significant boost to micro, small and medium enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programs.
Anti-trust probe initiated against ACC, Ambuja Cements
Both Ambuja Cement and ACC said in regulatory filings that the CCI has initiated an investigation against cement companies in India, including Ambuja Cements and ACC Ltd.
Circulate Capital invests to scale India's circular economy for plastic waste
Established in partnership with PepsiCo, Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company, and Chevron Phillips Chemical, CCOF is the world's first investment fund dedicated to combating ocean plastic in South and Southeast Asia.
Insurance sector's growth momentum fizzled out in November
"The improvement witnessed in August-October 2020, after the unlocking, fizzled out in November 2020 as the industry reported APE degrowth of 44.4 per cent YoY," Emkay Global Financial Services said.
IRCTC shares fall 8% as government offers stake sale of 20%
IRCTC's shares on the BSE were trading at Rs 1,481.50, at around 12 p.m., which is lower by Rs 136.55 or 8.44 per cent from its last time. Shares of IRCTC fell as the company announced OFS of up to 2,40 crores share with an option of additional sell of 0.8 lakh shares with floor prices of Rs 1,367 per share.
PM SVANidhi scheme: Swiggy to onboard 36,000 street vendors
In partnership with the Prime Minister Street Vendor's AtmaNibhar Nidhi (PM SVANidhi) scheme, Swiggy has created a team to explore and identify popular street vendors on the platform. The company has also created a special destination on the app where consumers can discover their favourite street food vendors.
Maruti Suzuki plans to increase prices of all models from January 2021
The automobile major said that the cost of vehicles has severely been impacted because of many input costs and it has become necessary to pass on some of the impacts on customers. In a regulatory filing, the company said that price increase shall vary for different models.
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