BUSINESS
Asset quality of Indian banks will be stable in 2023: Moody's
Indian banks will benefit from a stable operating environment and significant improvements in their solvency metrics, the report notes. According to Moody's, the rising interest rates amid high inflation will lead to gradual increases in margins, supporting banks' revenue.
Elon Musk stands to lose billions over 2018 Tesla tweets in US trial
The plaintiffs argued that Musk's tweets about taking Tesla private, in which he said he had "funding secured", led them to lose millions of dollars. In a class-action lawsuit, Tesla shareholders who traded the company's stock in the days after Musk's tweet sued him "for billions of dollars in damages", reports The Verge.
Japan logged record trade deficit in 2022 amid soaring energy prices, weak yen
According to the Finance Ministry, the country logged a 19.97 trillion yen ($155 billion) deficit for 2022 -- the largest amount for a year since comparable data became available in 1979, reports Xinhua news agency. Imports in the recording period leaped 39.2 per cent to a record 118.16 trillion yen, while exports were up a record 8.2 per cent to 98.19 trillion yen, the Ministry's preliminary reports showed.
11 G20 meetings to be held in UP in Feb
Varanasi will organise six, Agra three, Lucknow one and Greater Noida one. Under its Presidency, India is expected to hold more than 200 meetings at various levels in the run-up to the G20 Summit.
The participation of representatives of about 40 countries
Collapsed crypto exchange FTX claims $415 mn hacked
FTX CEO John J. Ray III said that about $323 million was hacked from its international exchange and $90 million from its US platform. "We are making important progress in our efforts to maximise recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," he said.
'Bullish trends dominant in run up month to Budget'
The BSE Sensex corrected sharply by 7.5 percent in 2016 in the one-month run-up to the budget that year, reports citing markets data said. In 2013, the benchmark had fallen 6.2 per cent, while in 2012, it had slid by 3.8 per cent.
India presents itself as resilient economy at World Economic Forum in Davos
Taking forward the strategy and presence of India during WEF Annual Meeting in May 2022, the Department for Promotion of Industry and Internal Trade (DPIIT) has taken the initiative to further strengthen India's presence through three lounges with focus on investment opportunity, sustainability and inclusive approach to compliment economic growth official sources said.
India-Australia ECTA to 'double bilateral trade' to $45bn
Tapan Mazumder, Additional Director General of Foreign Trade, Department of Commerce, Union Ministry of Commerce and Industry, said the major boost for India would be in its labour-intensive sectors, which are currently subject to import duty of 4-5 per cent by Australia.
Take urgent action, says Antonio Guterres at WEF
Taking note of a range of critical threats facing the world, from the economic crisis to war and pandemic, Antonio Guterres said: "We are looking into the eye of a Category 5 storm." On climate change, he called on world leaders to put forward credible and transparent transition plans to achieve net-zero emissions and to submit their plans before the end of the year.
Jyotiraditya Scindia says emergency exit was opened by mistake in IndiGo flight
IndiGo had said on Tuesday that a passenger accidentally opened the emergency exit of a plane at the Chennai airport on December 10. The passenger had apologised, said the airlines. While the airline did not name the passenger, few opposition parties have reacted on the matter, claiming that the person responsible for the act was BJP MP from Bengaluru South, Tejasvi Surya.
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