BUSINESS
India's Business Activity Reaches 7-Month Peak in February
The flash India Composite Purchasing Managers' Index (PMI) by HSBC, compiled by S&P Global, climbed to 61.5 this month from 61.2 in January, marking the 31st consecutive month above the 50-mark, indicating expansion.
India on track to become world's third-largest, USD 10 trillion economy: WEF President Borge Brende
Acknowledging geopolitical challenges worldwide, the WEF president commended India's resilience and highlighted the necessity of identifying areas for collaboration amid global uncertainties. He lauded India's economic growth rate, particularly its resilience amidst global economic fluctuations, contrasting India's growth with that of the United States.
Cabinet Approves 8% Increase in Sugarcane Price, Benefiting 5 Crore Farmers
Significantly higher than the A2+FL cost of sugarcane by 107 percent, the revised FRP aims to bolster the economic well-being of sugarcane farmers.
Byju's Successfully Subscribes $200 Million Rights Issue
According to a shareholders' letter obtained by IANS, Byju's founder and CEO Byju Raveendran expressed that the $200 million raised through this rights issue would provide the necessary capital to address existing liabilities and fuel the company's growth trajectory, aiming to restore its previous success.
Foreign Institutional Investors Offload $30 Billion in Financial Stocks in January
Breaking down the sector-wise selling trend for FIIs in January 2024, the report reveals that financials bore the brunt of the selling spree, followed by FMCG stocks totaling $2.7 billion. On the flip side, FIIs showed strong interest in the IT sector, making notable investments amounting to $4.5 billion. Even on a year-to-date basis, FIIs remained net sellers in financial stocks.
US Delegation's Visit to Ayodhya's Ram Temple
Arriving in Ayodhya on Wednesday morning, Pandya underscored the significance of Ayodhya not only within the Hindu faith but also in Jainism, Buddhism, and Sikhism. He emphasized that the legacy of Lord Ram transcends religious boundaries, serving as a symbol of India's rich cultural heritage and universal values of love and sacrifice cherished by millions worldwide.
Record-Breaking Lottery Win: Chinese Businessman Claims USD 96 Million Prize
The fortunate winner, whose identity remains undisclosed as per routine protocol for prize recipients, made a strategic investment in 133 lottery tickets, each priced at two yuan (USD 28 cents) apiece. Placing his bets on a consistent set of seven numbers across all tickets, his calculated gamble paid off handsomely when each of his entries secured a prize of 5.16 million yuan (USD 725,000), as reported by the local television station.
Shark Tank India Season 3: D'chica Secures Rs 80 Lakh Deal for Puberty Essentials Targeting Teen Girls
Taking the stage to propel D’chica to greater heights of success, its co-founders, Richa Kapila and Vani Chugh, hailing from Delhi, made their debut on the business reality show.
Forecast: India's AI Market Expected to Hit $17 Billion by 2027, Talent Demand Set to Surge, Says Nasscom
Key drivers of this growth include increasing enterprise technology spending, a burgeoning AI talent pool in India, and a significant rise in AI investments, as outlined in the report.
RBI Bulletin Forecasts Robust 7% GDP Growth for India in Q4, Anticipates Surge in Corporate Investments
According to the bulletin, the Indian economy continues to maintain the momentum achieved in the first half of the fiscal year 2023-24, as evidenced by various high-frequency indicators. Consumer confidence notably strengthened in January 2024, particularly buoyed by optimism surrounding the overall economic situation and employment conditions, as revealed by the latest household survey conducted by the RBI.
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