BUSINESS
India's economy already 10% more energy efficient than G20 average: IEA
Just hours ahead of Prime Minister Narendra Modi inaugurating the three-day India Energy Week in Bengaluru to showcase India's rising prowess as an energy transition powerhouse, the IEA said the adoption worldwide of the kinds of actions and measures targeted by LiFE (Lifestyle for Environment), including behavioural changes and sustainable consumer choices.
Technology sector cuts most jobs in January in US: Report
It is 440 per cent higher than the 19,064 cuts announced in the same month in 2022, according to a report by global outplacement and business and executive coaching firm, Challenger, Gray & Christmas, Inc. The technology sector announced the most cuts with 41,829, 41 per cent of all cuts, announced in January.
RBI to continue or hit the pause button on rate hike?
According to Pathak, the bond market should react positively. "We expect bond yields to go down gradually though elevated bond supply will limit the downside of yields." Retail inflation for December 2022 fell to a year's low of 5.72 per cent, mainly due to low food prices, especially those of fruits and vegetables.
Global smartphone revenue fall by 9% in 2022: Report
"The smartphone market remained under pressure in the fourth quarter of 2022 as the cost-of-living crisis, shortage in the labour market and a decline in consumers' purchasing power resulted in double-digit declines in the shipments of each of the top five smartphone players," said Senior Analyst Harmeet Singh Walia.
Hackers stole $3.8 bn from crypto investors in 2022
According to Blockchain analytics platform Chainalysis, October was the biggest single month ever for cryptocurrency hacking, as $775.7 million was stolen in 32 separate attacks. DeFi (Decentralised Finance) protocols as victims accounted for 82.1 per cent of all cryptocurrency stolen by hackers -- a total of $3.1 billion -- up from 73.3 per cent in 2021.
Markets post budget to remain range bound
At the end of the volatile week, we did see sharp gains on expected lines with our markets gaining on every day of the week, with the best reserved for Friday. BSESENSEX gained 1,510.98 points or 2.55 per cent to close at 60,841.88 points while NIFTY gained 249.70 points or 1.42 per cent to close at 17,854.05 points. The broader markets saw BSE100, BSE200 and BSE500 gain 1.24 per cent, 0.41 per cent and 0.52 per cent respectively. BSEMIDCAP was up 0.45 per cent while BSESMALLCAP was up 0.86 per cent.
Higher capex, infra push, green initiatives to drive up demand for bank funds
For the banking sector which is seeing an increased credit offtake in the recent times, is expecting more business due to increased allocation for capital investment and also inflow of cash with the increase in rebate for tax payers under the Income Tax Act which is expected to bring them some low cost funds. While that is for the bankers, Sitharaman too had announcements for the investors and banking public.
From savings to spending: What new IT rules tell us about govt's intentions
It is also being said that Finance Minister Nirmala Sitharaman's budget 2023-24 proposal of taxing the maturity and surrender amount of non-ULIP policies (purchased after April 1, 2023, if the total premium paid by an individual under such polices is more than Rs 5 lakh in a year, is a step towards the new IT regime. Presenting her budget on February 1, 2023, Sitharaman said the new IT regime will be the default one but those tax payers wanting to continue with the old one can still do so.
Sustained capex push key to infra growth, job creation: Experts
The key announcement by Union Finance Minister Nirmala Sitharaman on February 1 during her budget speech was welcomed by all including the Industry and experts. The minister said capital expenditure has thus increased to more than 2.2 times the expenditure of 2019-20 and it would be 2.9 per cent of the GDP in 2022-23.
Chinese Internet firms log 1st revenue decline amid regulatory crackdown
According to the South China Morning POst, the combined revenue of Chinese Internet firms decreased 1.1 per cent to 1.46 trillion yuan ($217 billion) last year, marking a sharp contrast to double digit growth in the previous six years. The data by the Ministry of Industry and Information Technology showed that the internet services firms in ride-hailing, travel, financial and flat rental sectors were hit the hardest.
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