BUSINESS
US Economy Caps Off Strong Year as Democrats Enter Festive Season
Wall Street began its celebrations early, igniting the question: will this buoyant momentum persist through the week?
RBI Enforces Stricter Guidelines for Banks and NBFCs' Investments in AIFs
Effective immediately, the RBI demands regulated entities to divest their AIF investments within 30 days if the fund invests in an existing borrower.
Global Positivity Aids Equities as Consolidation Marks Second Consecutive Day
The broader market saw slight losses, with Midcap100/Smallcap100 dipping by 0.4%/0.1%, respectively. Notable activity occurred in PSUs, FMCG, and energy sectors, all showing over 1% gains.
Sky One and SpiceJet Express Interest in Acquiring Go First Amid Liquidation Concerns
The acquisition interest comes amid Go First facing challenges, with a significant number of employees not reporting to work due to non-payment of salaries, as stated in an affidavit submitted by the resolution professional overseeing the insolvency process.
Jaishankar: Emphasizing India's Moment at Book Launch by JGU Professor
He highlighted India's unique developmental pathway, offering social safety nets efficiently through digital infrastructure, and envisioned India becoming a $10 trillion economy with inclusive growth, transitioning from a balancing to a leading power globally. The event took place at O.P. Jindal Global University, celebrating its growth as a leading institution in higher education.
BharatPe Reports Widened Net Loss of Rs 941 Crore in FY23
The positive EBITDA is attributed to growth in the lending and payments business. The company has also reduced cash burn, averaging Rs 60 crore per month in 2022-23, to achieve a positive EBITDA.
Financial position of unlisted corporate sector has weakened in post-Covid period
According to Motilal Oswal Financial Services, the unlisted corporate sector is not only much bigger than its listed counterpart, the latter has moved in a different direction vis-a-vis the former as per MOFSL estimates. What is more interesting is that while the financial position of listed sector has improved markedly in the post-Covid period (FY20-FY23), this is clearly not the case for the aggregate corporate sector. It means that the financial position of the unlisted corporate sector has weakened in the post-Covid period.
OpenAI Empowers Board with Veto Power to Safeguard Against AI User Harm
The updated "Preparedness Framework" involves investing in rigorous capability evaluations and forecasting to detect emerging risks. OpenAI will conduct evaluations, produce risk scorecards, and implement additional security measures to ensure the safety of its models. Regular safety drills and collaboration with external parties are also part of the strategy to enhance AI safety.
India's Growth Rate Expected to Remain Strong, Current Account Deficit Set to Decline: IMF Report
The IMF Directors commend India's prudent policies, economic performance, and call for sustained stability and key structural reforms to unlock the country's potential.
Current Fiscal Year Sees Direct Tax Collections Surge by 21%, Exceeding Rs 13.7 Lakh Crore
This robust collection comprises Corporation Tax at Rs 6,94,798 crore (net of refund) and Personal Income Tax, including Securities Transaction Tax (STT), at Rs 6,72,962 crore (net of refund).
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