BUSINESS
Despite global headwinds, Indian economy among fastest growing in the world: Finance Ministry
As per the World Economic Outlook (WEO) October 2022 report of the IMF, the economies around the world were facing recessionary trends due to the aforementioned reasons. The slowdown of global output had also made IMF lower the growth forecast for India's economy, sources informed, adding that domestic economy was projected to grow 6.8 per cent in 2022 and 6.1 per cent in 2023.
India's growth rate to be 6.4% for next 5 years: UK-based Centre for Economics and Business Research
This is going to lead India to the third spot in global ranking by 2037 from the existing fifth in the World Economic League Table in 2022.The Cebr has made this prediction in its annual World Economic League Table 2023 on Monday.The UK-based consultancy has suggested that in the current fiscal, growth is expected to be 6.8 per cent, despite rise in key rates and falling global demand.
Fintech firm Money View raises $75 mn to scale core credit biz
With over 40 million app downloads, the company is currently operating at an annualised disbursal run rate of $1.2 billion, managing assets under management (AUMs) of over $800 million.The current funding also saw participation from Tiger Global, Winter Capital and Evolvence.
CBI arrests Venugopal Dhoot, Videocon Chairman in loan fraud case
Dhoot was placed under arrest following the questioning of Kochhars. His arrest was made in Mumbai.
Adani Wilmar is best performing IPO of the year post listing
As per data by Prime Database, Adani Wilmar which listed in January this year gave returns of 15.30 per cent on listing day and returns of 155.59 per cent as on 21 December market price. Venus Pipes gave returns of 128.53 per cent while Hariom Pipe Industries gave a post listing return of 112.58 per cent while Veranda Learning has given returns of 93.80 per cent.
Trend seems to have reversed
On Friday, one failed to understand the colour of festivities associated with Christmas Red, which was there all over Dalal Street, but it was blood on the streets. Markets fell a massive 980 points on BSESENSEX and 320 points on NIFTY. Surprising was the fact that there was no indication of this kind of carnage anywhere else in the world.
Traders' body to launch 3-month-long stir, seeks streamlining of e-commerce rules, GST rationalisation
"It is a matter of great regret that even after spending more than three years, the Central Government has not been able to bring e-commerce policy and e-commerce rules under Consumer Protection Act whereas the foreign e-commerce companies are bent upon in violating the law and the FDI policy quite openly under the nose of the government and no action has been taken so far," a statement issued by CAIT said.
Twitter not go to bankrupt, but isn't secure yet: Musk
Farzad Mesbahi, a YouTuber who covers future technologies, tweeted: "On today's All In podcast @elonmusk says, We've gotten the expenses (of Twitter) under control, so the company isn't on the fast lane of Bankruptcy anymore". To which Musk replied: "Twitter isn't secure yet, just not in the fast lane to bankruptcy. Still much work to do".
Government must move fast on EU regulations to save Alang's ship recycling industry
Though Union Finance Minister Nirmala Sitharaman, while presenting the 2020-21 budget, had envisaged doubling ship recycling capacity by 2024, it does not seem to be happening till European Union regulations are met. This is possible, but unfortunately the government machinery is working at a very slow pace in meeting the EU regulations on hazardous waste management and other conditions.
Chanda Kochhar: From Kamath's angel to jail
It is some seven years after the first of the complaints surfaced that the Central Bureau of Investigation (CBI) bit the bullet to nab the Kochhar couple in connection with the alleged massive Rs 3,250 crore loan fraud involving the defunct Videocon Group. Among other things, the CBI has accused Chanda Kochhar, 61, of irregularities, flouting banking rules and laws in a series of loans sanctioned to industrialist Venugopal N.
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