BUSINESS
HDFC Bank Q3 net at Rs 12,259 cr
According to the HDFC Bank, it has posted a net profit of about Rs 12,259 crore for the quarter ended 31.12.2022 up from Rs 10,342 crore logged in the previous year corresponding quarter. The bank had earned a total income of about Rs 51,207 crore for the period under review up from about Rs 40,651 crore earned during Q3FY22.
US could default on its debt as soon as June
The US will reach the debt limit on January 19 on January 19 and then "extraordinary measures" will need to be taken, Treasury Secretary Janet Yellen wrote in a letter to House Speaker Kevin McCarthy. She said that the Treasury Department will pursue those measures, but they will only last a limited amount of time
'Bank deposits growth trails credit growth'
In a research report, BNP Paribas said that the deposits are generally weak and CASA (current account, savings account) weaker. "With system deposit growth in high single digits y-y, materially trailing credit growth, we expect most deposit growth within our coverage universe to have come from term deposits
Inflation hits 40-yr high in Finland in 2022: Statistics
"Inflation in 2022 was exceptional compared to ... past decades. Similar figures were last seen in the early 1980s," said Kristiina Nieminen, chief actuary at Statistics Finland. The previous inflation record for the 21st century was set during the global financial crisis in 2008
Cryptocurrencies equivalent to gambling: RBI Governor
Addressing a media event here, Das called for a ban on cryptos, saying there is no underlying value in it. Those supporting it call it an asset or a financial product, but there is no underlying value in it, he added. To counter the growth of cryptocurrencies, the central bank recently launched in pilot mode, its own e-rupee or central bank digital currency (CBDC).
Piyush Goyal calls upon countries of Global South to help build resilient supply chains
Addressing the virtual Voice of the Global South summit, Piyush Goyal said that India is providing unilateral duty-free market access to least-developed countries (LDCs) since 2008 through the duty-free tariff preference (DFTP) scheme, and therefore it is also open to enter into preferential trade agreements (PTAs) with interested countries in the South.
Great opportunity to look at sectors like green hydrogen: G20 Sherpa Amitabh Kant
"The stars are aligned in favour of India," he said while referring to India's G20 presidency while delivering the third annual lecture of Public Affairs Forum of India. With the G20 summit scheduled to take place in September in Delhi, Kant said India holds an advantage in terms of demographics, digitalisation, decarbonisation and deglobalisation to be a major power and become a voice of the Global South.
CCI order strikes a blow to accelerating digital adoption in India: Google
Google said that foundational disruptions at this stage could set us back years and undo the deep investments and effort made by original equipment manufacturers (OEMs), developers, and the industry overall. "It is a crucial moment for India - and our hope is that we, along with all the stakeholders of this vibrant ecosystem, can continue to build on top of this foundation," said the company.
China to take 'golden shares' in two of its biggest tech firms Alibaba and Tencent
Beijing's move marks a shift away from imposing hefty fines and sanctions in its two-year tech crackdown, which was launched after Alibaba founder Jack Ma criticised regulators. The crackdown has proved tumultuous for Chinese tech firms, with billions wiped off their value, and moves including blocking the flotation of Ma's financial services firm, Ant Group, which would have been the world's biggest IPO, The Guardian reported.
Gold shines brighter on Friday as prices rise
According to Quantum AMC's Fund Manager- Alternative Investments Ghazal Jain, gold prices are on uptrend since November 2022 amid moderating US CPI numbers and anticipation of a less aggressive Federal Reserve. The US dollar as well as US yields have begun to cool off, which has been supporting gold.
Don't Miss
Advertisement