BUSINESS
India's Forex Reserves Reach 4-Month High
In the week ending November 17, the reserves had already seen a boost of $5.077 billion, reaching $595.397 billion.
India's Tech Startups Witness Lowest Funding in 5 Years, Produce Only 2 Unicorns in 2023
Funding reductions spanned all stages: late-stage saw a 73% dip, followed by early-stage (70%) and seed-stage (60%).
Zomato Sees Share Deal Worth Rs 1,125 Crore, With SoftBank Possibly as Seller
This transaction involved the exchange of about 1.06 percent stake in the company, equivalent to 9.35 crore shares, during the early trading session.
Nifty Surges Past 21,000 Mark, Sets New All-Time High
As anticipated, the RBI Governor's decision to maintain key lending rates at 6.50 percent was already factored into market expectations.
RBI Keeps Repo Rate Unchanged At 6.5% For Fifth Consecutive Time | 10 Points
RBI projects Consumer Price-based Inflation (CPI) at 5.4 percent for the current fiscal year. Against a backdrop of declining inflation to 4.87 percent in October, the MPC meeting anticipates the November inflation figures to be released next week. The government mandates the RBI to maintain CPI inflation at 4 percent with a 2 percent margin on either side.
ED Files First Charge Sheet Against Vivo India and Others in Money Laundering Case
The financial probe agency submitted the charge sheet in court on Wednesday, listing Guangwen Kyang (also known as Andrew Kuang), a Chinese national; Hari Om Rai, the Managing Director of Lava International; Rajan Malik; and Nitin Garg, the Chartered Accountant, as accused parties. The comprehensive charge sheet spans 400 pages.
SoftBank Reportedly Considering Sale of Zomato Shares Worth Rs 1,125 Crore
This potential sale comes after SoftBank sold a 1.09% stake in Zomato in October through a bulk deal worth Rs 1,040.5 crore via its venture capital fund SVF Growth. In August, SoftBank also sold a partial stake in Zomato through bulk deals, generating Rs 947 crore.
Steve Jobs Handwritten 1976 Check Fetches Over $36K in Auction
This check, bearing the "Apple Computer Company" account details from a Wells Fargo Bank branch, adds to the growing market for Jobs' signature and memorabilia.
IBA Reaches Agreement with Unions, Secures 17% Increase in Bank Staff Pay
This wage revision, effective from November 1, 2022, will span a period of five years. The IBA and bank unions formalized a Memorandum of Agreement at their meeting, outlining the terms of the agreement. The 17% increase in pay slip cost, additional loading of three percent post-dearness allowance merger, and improved pension for pensioners from 1986, including retirees under the proposed 12th bipartite settlement, were key elements of the agreement.
Sitharaman Encourages India Inc to Harness Start-ups Tech Advancements for Manufacturing Boost
Sitharaman underscored the immense market potential in India, equivalent to that of several jurisdictions combined, emphasizing the rarity of finding such a large market within a single country.
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