BUSINESS
FM participates in 'Halwa' ceremony to mark final stage of budget preparations
The ceremony was held within North Block premises, which houses the finance ministry. A customary Halwa ceremony is performed every year before the 'lock-in' process of budget preparation begins. Like the previous two budgets, Union budget 2023-24 will also be delivered in paperless form.
Adani evaluating remedial and punitive action against Hindenburg Research
"The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens", Jatin Jalundhwala, Group Head, Legal, Adani, said. "Clearly, the report and its unsubstantiated contents were designed to have a deleterious effect on the share values of Adani Group companies as Hindenburg Research.
9 out of 10 individual traders in F&O segment making losses
There has been a significant increase of over 500 per cent in the number of individual traders in the equity F&O segment in FY 2021-22, as compared to FY 2018-19. Ninety-eight per cent of individual traders in the equity F&O segment traded in options during FY 2021-22. On average, loss makers registered net trading loss close to Rs 50,000 in FY 2021-22.
Philippines' GDP growth led ASEAN at 7.6% in 2022
Chief of the Philippine Statistics Authority (PSA) Dennis Mapa told reporters here on Thursday that the 2022 gross domestic product (GDP) growth is the highest since 1976, reports Xinhua news agency. The sectors which contributed the most to the growth were wholesale and retail trade, repair of motor vehicles and motorcycles, manufacturing and construction.
Dell acquires Cloud services startup Cloudify for '$100 million'
According to reports, Dell spent close to $100 million in buying the startup to boost its its cloud services business, specifically its offerings in DevOps. A company spokesperson told TechCrunch that Dell Technologies "has completed the acquisition of Cloudify. "This transaction allows Dell to continue to innovate our edge offerings," said the spokesperson.
India top producer of millets, followed by Nigeria, Niger, China
Millets encompass a diverse group of small-grained, dryland cereals, including foxtail, barnyard and fonio, among others. As whole grains, millets are a good source of essential nutrients. These crops, rooted in ancient cultures and ancestral traditions, have long survived harsh growing conditions. Their climate resilience and adaptability offer opportunities for strengthening food security and bolstering economic growth.
Bank of Canada hikes policy interest rate by 25 basis points
The country's inflation declined from 8.1 per cent in June to 6.3 per cent in December, reflecting lower petrol prices and, more recently, moderating prices for durable goods, the Bank of Canada said, adding that despite this progress, Canadians are still feeling the hardship of high inflation in their essential household expenses, with persistent price increases for food and shelter.
'Budget should be pet, poultry and industry friendly'
"With the 2023 budget, we expect an increase in the healthcare sector which is the need of the hour, especially for animals and some species that are on the brink of extinction. The healthcare sector is important for both humans and animals. The first and foremost area that needs to be focused on is an increase in financial support for veterinary services," said Anushka Iyer, Founder and CEO, Wiggles.
India keeps rank as world's fastest-growing economy with 5.8% rate
The UN's World Economic Situation and Prospects (WESP) report sliced off 0.2 per cent from the 6 per cent gross domestic product growth projection made last May without affecting India's rank as the country faces headwinds from the global economy. Overall, the report said: "Growth in India is expected to remain strong at 5.8 per cent.
Global economy projected to grow 1.9% in 2023: UN report
The UN World Economic Situation and Prospects 2023 report, launched on Wednesday, predicted global growth to moderately pick up to 2.7 per cent in 2024, as some macroeconomic headwinds are expected to begin to subside next year, Xinhua news agency reported. Amid high inflation, aggressive monetary tightening and heightened uncertainties.
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