BUSINESS
ECB to tackle inflation with more rate hikes
Addressing the annual ECB Forum in Sintra, Portugal, she said that "the nature of the eurozone inflation challenge is changing", reports Xinhua news agency. According to the ECB President, the so-called "second phase" of the inflationary process "is getting stronger," pointing to a wage recovery.
Price hikes and affordability woes: Tomatoes and pulses pinch shopkeepers, consumers
While the arrival of the Southwest monsoon in India has brought much-needed relief from the intense heat, it has also led to a surge in tomato prices across the country. In numerous locations across the national capital, including Azadpur Mandi, tomatoes are being sold at or above Rs 70 to 90 per kg.
Competition Commission approves acquisition of TCNS Clothing by Aditya Birla Fashion and Retail Ltd
Aditya Birla Fashion is a listed company and part of the Aditya Birla conglomerate. It is engaged in retailing of branded products within the apparel, footwear and accessories segment, through its retail stores, online retail platforms and e-commerce marketplaces.
India's current account deficit narrows to $1.3 bn in January-March 2022-23
According to RBI data released on Tuesday, the moderation was because of slowdown in trade deficit and rise in services exports.
The $1.3 billion deficit for the fourth quarter of 2022-23 means that India recorded a CAD of $67 billion in 2022-23 against a deficit of $38.7 billion in 2021-22.
Fintech company Lendingkart raises Rs 200 cr from EvolutionX Debt Capital
The company said it will use the funds to drive its growth as it looks to build on its profitable yearly numbers in FY23 and drive its core business growth by enabling financing for a much higher number of MSMEs across the country. Lendingkart will continue to invest in its tech capabilities which bolster its lending platform which in turn will further partnerships with marquee banks and NBFCs of India.
India likely to see 147 unicorns in next 5 years: Report
India is currently home to 83 unicorns, 51 gazelles (most likely to go unicorn within three years) and 96 cheetahs (to achieve unicorn status in five years), according to the 'ASK Private Wealth Hurun India Future Unicorn Index 2023' report. It is a ranking of India’s startups founded in the 2000s, worth at least $200 million, not yet listed on a public exchange and most likely to ‘go Unicorn’ in the next five years.
ThoughtSpot acquires Mode Analytics for $200 mn, expands India footprint
With the acquisition, 31 employees of Mode Analytics in Kolkata will now come onto the rolls of ThoughtSpot. ThoughtSpot recently announced $150 million investment in India between 2022 and 2027, which includes 30 per cent headcount growth in the market, and follows the opening of its third R&D centre in the region in Thiruvananthapuram in 2022.
Retaliatory duty removal on US apples imports not to affect domestic growers, says government
The decision will not result in any negative impact on domestic apple producers and will result in competition in premium market segment ensuring better quality at better prices for consumers, Commerce Ministry sources said.After removal of this duty, the apples from the US would compete on level playing field with other countries.
All Adani portfolio companies listed on Indian bourses: Adani Group
The notice said: “In our listed portfolio, six of our companies - Ambuja, ACC, AWL, NDTV, APL and ATGL are purely domestic issuers and listed on the Indian exchanges. “Four of our portfolio companies - AGEL, ATL, APSEZ and AEL issue global capital market papers with only APSEZ being a corporate issuer. AGEL has one instrument issued on corporate basis. All of the other issues are restricted group issuances.
J Swaminathan takes charge as RBI Deputy Governor
The government on June 21 had appointed him to the post of Deputy Governor for a period of three years from the date of joining the post or until further orders, whichever is earlier. Swaminathan was the Managing Director, Corporate Banking and Subsidiaries, of the State Bank of India (SBI) before being appointed as Deputy Governor.
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