BUSINESS
Modi, Singapore PM to witness launch of cross-border connectivity of payments interface
The launch will be done by RBI Governor Shaktikanta Das and Ravi Menon, managing director of Monetary Authority of Singapore. India has emerged as one of the fastest-growing ecosystems for fintech innovation. The linkage of these two payment systems would enable residents of both countries in faster and cost-efficient transfer of cross-border remittances.
Moderation in India's trade deficit could be transitory: Acuite Ratings
Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23 added that there could be cushion in the form of: increased dependence on Russia for oil imports and re-exports, improvement in IT/ITeS service exports and slowing of domestic demand due to monetary policy measures.
Govt to meet bank heads to discuss emergency credit line guarantee scheme
The meeting would discuss the possibilities of using the schemes to help businesses impacted by the Coronavirus pandemic, the sources said. To ensure that the ECLGS is helpful for such businesses, the meeting is likely to discuss extending the scheme beyond March 31, 2023.
Shining outlook for gold in 2023
"The yellow metal has already posted over three per cent gains in the month of January, 2023. The current setup seems to indicate a re-run of 2022. Gold seems to be poised to open a new chapter in term of its price trajectory," Emkay Global Financial Services said in a report. According to Quantum Mutual Fund report, gold started the new year on a cheery note, up about six per cent in January in dollar terms and about four per cent in rupee terms.
Economic pact with UAE given boost to Indian entrepreneurs: PM Modi
Modi said in a tweet that it has also deepened India's ties with UAE. He was responding to a tweet by commerce minister Piyush Goyal, who had said on Saturday that February 18 marked one year of signing of India-UAE CEPA. Goyal along with UAE's minister of state for foreign trade Thani Al Zeyoudi had co-authored an article on completion of one year of CEPA.
New Twitter Files claim thousands of moderation requests from US govt
He said that the real story emerging in the Twitter Files is about a "ballooning federal censorship bureaucracy" that's not aimed at either the left or the right per se, but at the whole population of outsiders, who are being systematically defined as threats. "Feds mistaking both conservatives and leftists for fictional Russians, even Twitter deciding on paper to cede moderation authority to the 'US intelligence community,' Taibbi posted in a Twitter thread.
Fintech startup ESOPDhan eyes Rs 500 cr loan book to fund ESOP buys
So far, ESOPDhan has lent Rs 20 crore to 15 Bengaluru and Hyderabad-based employees of two US-based high growth tech companies. Set up by veteran investors Shravan Shroff and Nitin Agarwal, the firm seeks to ease the acquisition of stock options by employees of high-growth SaaS startups.Our experience with startup teams over the years threw up many concerns of employees rewarded with ESOPs.
Starlink offers global roaming satellite internet for $200 a month
The globalising roaming internet service will utilise Starlink's inter-satellite links (space lasers) to provide connectivity around the globe. "You are invited to try Starlink Global Roaming service, which allows your Starlink to connect from almost anywhere on land in the world," the company said in a message to its users.
Volatile markets to remain rangebound
Last week, they lost on the first day of the week, gained on the next three and ended on the last day of the week with losses. BSESENSEX gained 319.87 points or 0.53 per cent to close at 61,002.57 points, while NIFTY gained 87.70 points or 0.49 per cent to close at 17,944.20 points. The broader markets saw BSE100 and BSE200 gain 0.33 per cent and 0.01 per cent while BSE500 lost 0.07 per cent. BSEMIDCAP lost 0.82 per cent while BSESMALLCAP was down 0.77 per cent.
US proposes $175K fine on Musk's SpaceX for failure to give launch data
The case pertains to the August 19, 2022, launch of the Starlink Group 4-27 mission. The FAA said in a statement that launch collision analysis trajectory data is used to assess the probability of the launch vehicle colliding with one of the thousands of tracked objects orbiting the Earth. "SpaceX was required to submit the data to the agency at least seven days prior to an attempted launch," said the administration.
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