BUSINESS
Music label giant Saregama acquires stake in Pocket Aces
In a stock exchange filing, Saregama mentioned that is paying about $20 million for a 51.82 per cent stake in Pocket Aces and plans to invest an additional $1.8 million in the startup.
Neobanking startup Fi cuts 10% of its staff in restructuring exercise
The company will offer departing employees comprehensive support, including multiple months of severance, extended healthcare provisions, and extended ESOP vesting, reports Entrackr.
Money laundering via illicit trade hovering at 5% of India’s GDP: FICCI study
A report released by the FICCI on Thursday based on data from international agencies states that the impact of India’s illicit financial flows works out to around 5 per cent of the country’s GDP.
India sees marked improvement in Global Terrorism Index: FICCI CASCADE report
Addressing the inaugural of the two-day 9th edition of ‘MASCRADE 2023’, organised by FICCI CASCADE, Agarwal said: “Illicit trade undermines national security, risks legitimate manufacturing, leaks government revenue, jeopardises public health and safety, and erodes the trust of consumers and investors alike.
Nifty falls 165 points on selling pressure as oil prices surge
Nifty fell by 165 points (-0.8 per cent) to close at 19,551 levels, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said.
ICICI Lombard stock reacts after company receives GST show cause notice of Rs 1728 crore
Additionally, Coforge also received a tax demand notice for Rs. 82.9 billion for FY2019–20, he said.
India’s external debt edges past $629 billion
"The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023," RBI said.
28% GST on online gaming, casinos & horse racing from Oct 1: CBIC chief
“We are fully prepared to bring it into effect from October 1. As per the decision taken in the last meeting of the GST council, the related notifications are under process,” the CBIC chairman told media persons.
Father of India's Green Revolution MS Swaminathan passes away at 98
The Padma Bhushan awardee, popularly known as MS Swaminathan, passed away at Chennai at the age of 98.
FIIs sold Rs 21,640 cr in cash market in Sep
Even though the market is showing resilience, the undercurrent is weak, he said, adding that the dollar index at 106.59, the US 10-year bond yield at 4.62 per cent and Brent crude above $97 are strong headwinds that can pull the market down.
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