BUSINESS
Ukraine's GDP falls 29.2% in 2022
The economic decrease reflected depressed household consumption, a decline in investment activity, and negative pressure on export and import operations caused by the Russia-Ukraine war, the government-run Ukrinform news agency reported on Tuesday. Ukraine's GDP performance last year was better than the initially estimated.
Panic subsides on Wall Street as regional bank stocks rebound
Regional bank stocks rebounded Tuesday morning after being pummelled in a Monday selloff that was fuelled by a mix of contagion fears and a pile-on of short-sellers who profit when stocks lose value, CNN reported. Even after the federal government's intervention on Sunday to backstop deposits in two failed lenders, Silicon Valley Bank and Signature Bank, Wall Street had remained wary of smaller and midsize banks that are seen as having similar risks.
Vimal Kapur becomes CEO of US-based Honeywell as Indian-origin glory continues
Having graduated from the Thapar Institute of Engineering in Punjab's Patiala as an electronics engineer with a specialization in instrumentation, Kapur was also appointed to the company's board of directors, effective March 13. Adamczyk will continue to serve as Executive Chairman of Honeywell, said the company, adding that these moves ensure a seamless leadership transition and position Honeywell for continued outperformance versus peers.
India Inc sees only 89 deals worth $1.8bn in Feb; down 54% from last year
"US economic data has been pointing towards a slowdown; however, the recession is not confirmed yet. China has seen an accelerated reopening, and that has provided a boost to the commodity market," said Shanthi Vijetha, Partner-Growth at Grant Thornton Bharat.
Noida airport's 1 runway, terminal likely to be operational by 2024
Delivering the look and feel of a haveli, a courtyard will allow fresh air and sunlight into the terminal building. Inspired by the important rivers of the region, a white, translucent, wavy roof will give the effect of a flowing river. The passenger terminal will feature intricate ornamental lattice screens, inspired by Indian architecture. Noida International Airport will showcase a grand entry to the state of Uttar Pradesh.
TheGreenBillions eyeing Australia for its first overseas expansion in green hydrogen & sustainable energy solutions
The company has announced its collaboration with the India Australia Strategic Alliance (IASA), an Industry body for the Australian and Indian Business communities, which will provide TheGreenBillions with the platform, resources and guidelines to effectively and efficiently conduct trade.
General Motors may bring ChatGPT-like digital assistant for cars
According to Semafor, citing sources, the voice-activated chatbot will be powered by Microsoft's Azure cloud service, which owns the OpenAI tech that powers ChatGPT. In addition, Scott Miller, GM's vice president of software-defined vehicle and operating system, confirmed that the company is developing an artificial intelligence assistant in order to go beyond current voice commands.
Asian markets fall amid SVB fallout fears
Japan's Nikkei 225 tumbled 2.19 per cent to post its third straight day of declines. Hong Kong's Hang Seng briefly dropped 2.5 per cent, before trimming losses in the afternoon. Korea's Kospi lost almost 3 per cent. China's Shanghai Composite shed 0.65 per cent, CNN reported. Banks were the hardest hit sector across the region, CNN reported.
Indian Web3 industry to reach $1.1 bn by 2032: Report
In India, the market size of metaverse is $2.4 billion and it is expected to record a CAGR of 39.2 per cent from 2022-2030 to reach $33.9 billion by 2030, according to a white paper released at the 'Entrepreneur Web3 Summit' in Bengaluru. In India, the market size of Blockchain is expected to record a CAGR of 47.3 per cent, increasing from $0.28 billion in 2019 to reach $4.3 billion by 2025.
Life Mission case: Not worried if my name is discussed, says billionaire bizman Yusuff Ali
"It's quite common that when someone does something for the poor and weaker sections of the society, their names will be discussed and I am not going to be worried because of that," said Ali. His name came to the fore after the chat messages between Swapna Suresh and M.Sivasankar, the now jailed former principal secretary to Kerala Chief Minister Pinarayi Vijayan, got out.
Don't Miss
Advertisement