BUSINESS
Chinese app TikTok sacks entire India staff: Report
According to a report in The Economic Times, the ByteDance-owned platform, banned in India in June 2020 over national security concerns, told its employees they would receive up to nine months of severance package. However, most of the staff will only get three-month severance. In June 2020, the government banned TikTok along with 59 other Chinese apps citing security concerns.
Electric 2-wheelers grew 300% in India in 2022: Report
By 2025, the share of E2Ws and connected 2-wheelers (C2W) will both cross 50 per cent. The share of C2Ws grew over 20 per cent YoY last year and the high-speed electric vehicles market grew 90 per cent, according to CyberMedia Research (CMR)'s 'India Electric 2 Wheelers (E2W) Report'. "In CY2022, there has been a growing momentum towards electric mobility.
Paytm launches G20-theme QR Code, celebrates India's presidency
The QR code was launched by Ashwini Vaishnaw, Union Minister for Railways and IT, during the 'Digital Payments Utsav' at the India Habitat Centre here. Paytm has played an important role in the mobile payments revolution in India, as the pioneer of QR code payments. The special commemorative QR Code features logos of MeitY's 'DigiDhan Mission', along with those of the G20 2023 and 75th year of India's independence.
India's green bonds show policy focus on climate mitigation: Fitch Ratings
"We expect the bonds to be held largely by domestic investors, incentivised by the national climate policy to mobilize financing resources for green activities," Fitch Ratings added. The first issuance in January 2023 comprised two tranches, with five-and 10-year maturities, totalling Rs 80 billion (USD one billion). A second offering.
Phone tapping case: Delhi HC grants bail to ex-NSE chief Chitra Ramkrishna
The ED in September last year, had filed a charge sheet in the Rouse Avenue Courts in connection with a Prevention of Money Laundering case pertaining to phone tapping of NSE employees between 2009 and 2017. The charge sheet was filed against NSE's Ramkrishna and Ravi Narain, and former Mumbai Police Commissioner Sanjay Pandey.
Uttar Pradesh rolls out red carpet for Global Investors Summit 2023
Prime Minister Narendra Modi will inaugurate the three-day event which has already attracted memorandums of understanding (MoUs) and investment proposals of more than Rs 22 lakh crore as the state aims to become a trillion-dollar economy in next five years. More than 10,000 delegates, including more than 400 participants from 41 countries, top industry leaders, Union Ministers, Ministers/diplomats from 10 partner countries and CEOs of leading companies and banks are expected to attend the 34 sessions during the event at the Vrindavan Yojana in Lucknow.
Domestic investor holding touch another all-time high
According to Pranav Haldea, Managing Director, Prime Database Group, this was the fifth consecutive quarter where the holding has increased, having come up from 22.37 per cent as on September 30, 2021, and showcases the rising dominance of domestic investors.
Government willing to give cooking gas subsidy if global prices come down: Hardeep Puri
"There is a (existing) subsidy of Rs 200. What is this subsidy? It is tax payer's money... The ones who are most vulnerable, we are always ready to help if it is left to this House and the honourable Prime Minister. It would be ideal if the international or the Saudi Contract Price could further come down from $750. It would enable domestic LPG to be sold at even more economical rates," he said.
LIC announces net at Rs 22,970 cr, to meet Adani group officials
The life insurer has about four per cent of its equity investment portfolio in Adani Group companies. According to LIC, for the nine months ending December 31, the company had logged a total premium of Rs 3,42,244 crore (Rs 2,83,673 crore in 9 months ending December 31, 2021) and a net profit of Rs 22,970 crore (Rs 1,672 crore).
World's fastest accelerating e-car unveiled at Hyderabad E-Motor Show
The pure-electric hyper GT Battista was unveiled for the first time in India at the show organised as part of the E-Mobility Week and it adds an important milestone, as the city gears up for India's first Formula E Grand Prix on February 11. Designed, developed, and made by Automobili Pininfarina, the Italian luxury car brand wholly owned by Mahindra & Mahindra, the Battista combines the pinnacle of legendary Italian design and unprecedented EV performance.
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