BUSINESS
Tech jobs still hot in US amid mass layoffs, finds report
According to data by job portal Indeed, the tech jobs in high demand are full-stack developers at the top spot, followed by data engineers, cloud engineers, senior product managers and back-end developers, among others. Almost half, about 44 per cent, of the top 25 were tech jobs in the US market, reported CNBC, citing the data.
Global smartphone shipments suffer biggest fall in holiday quarter
According to an IDC report, the Q4 2022 drop contributed to a steep 11.3 per cent decline for the entire year. The year 2022 ended with shipments of 1.21 billion units, which represents the lowest annual shipment total since 2013 due to significantly dampened consumer demand, inflation, and economic uncertainties.
`FY24 budget should be favourable to EV like the FY23 budget'
Like last year's Union Budget which was positive for the EV industry, this year too she expects it to favour the sector. "2022 was a significant year for the EV sector in India. The industry saw EVs outnumbering ICE (internal combustion engine) in the three-wheeler sector, a significant rise in sales of EVs, and the initiation of EV component manufacturing in the country," Motwani said.
BharatPe losses swell in FY22 after change in fair value of CCPS
In FY21, the company had posted a net loss of Rs 1,619.2 crore. Apart from the CCPS cost, the company's adjusted loss grew 2.2 times to Rs 828.2 crore in FY22, from Rs 227.3 crore in the earlier fiscal year, according to its financial statement with the Registrar of Company (RoC).
Tesla reports record Q4 net income, announces $3.6 billion investment for Nevada truck manufacturing
The announcement of the expansion was made on Tuesday by Nevada Governor, Joe Lombardo, after he met with Tesla CEO, Elon Musk. In a tweet, Lombardo said, "This is an incredible investment in our state." The White House also issued a statement, hailing the expansion as proof of a continued "manufacturing boom" since President Joe Biden took office two years ago.
Pakistan rupee reaches all-time low after devaluation
Commenting on the development, Arif Habib Limited's Head of Research, Tahir Abbas, said that the rupee's steep fall has triggered a positive sentiment in the market, Geo News reported. "The driving factor behind the market is the rupee's market-based exchange rate. This has helped clear the uncertainty that was surrounding the investors," Abbas said.
Pakistan's economy at risk of collapse
According to the report, rolling blackouts and a severe foreign currency shortage are making it difficult for businesses to continue operations. Shipping containers full of imports are piling up at ports as the buyers are unable to secure the dollars to pay for them, it added, Geo News reported.
US economy grows at 2.9% in Q4, exceeds market expectation of 2.6%
This was slightly higher than the market expectation of 2.6% and followed the 3.2% growth recorded in the previous quarter. The BEA attributed the increase in real GDP to a variety of factors, including an increase in private inventory investment, consumer spending, and government spending.
Global output growth to fall to 1.9% in 2023 from 3%: UN report
It has listed a series of severe and mutually reinforcing shocks - the Covid-19 pandemic, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, as well as the climate emergency behind the expected deceleration in global output growth in 2023. The report titled "The World Economic Situation and Prospects 2023" has been released by the United Nation's department of economic and social affairs.
Hyundai Q4 net more than doubles on improved chip supplies, SUV demand
Net profit for the three months ended Dec. 31 jumped to 1.709 trillion won (US$1.38 billion) from 701.37 billion won during the same period of last year, the South Korean carmaker said in a statement. "An improved product mix, low incentives, the won's weakness (against the dollar) buoyed the quarterly bottomline despite high inflation and global economic slowdown," Seo Gang-hyun, executive vice president in charge of Hyundai's finance and accounting division, said in the company's earnings conference call.
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