BUSINESS
World Bank upgrades India's GDP growth to 6.9% for current fiscal
In its India Development Update, the global financial institution said that the revised update was mainly due to greater resilience shown by the Indian economy against global shocks and better September quarter figures. The World Bank has revised its GDP estimate downwards for 2023-2024 from 7 per cent to 6.6 per cent.
Slack CEO to quit Salesforce in Jan 2023
Cloud computing giant Salesforce acquired Slack for $27.7 billion in July last year, reports The Verge. Butterfield's departure was announced in a Slack channel, only a few days after Salesforce CEO Bret Taylor also revealed that he was leaving the company. "This has nothing to do with Bret's departure," Butterfield wrote in a Slack channel.
Pluckk becomes India's 1st certified 'Plastic Neutral Brand' in FnV space
Pluckk which is one of the fastest growing D2C brands in the Fruits & Vegetables (FnV) category, will now recycle more plastic than it consumes thereby becoming the first Indian company in FnV space to receive this certification.
Cement makers plan to hike price by Rs 10-15/bag in Dec
According to a report by the company, in November the prices went up by about Rs 6-7/bag. While the prices remained flat in Western and Central parts of the country, the rates hardened in Northern, Eastern and Southern regions, Emkay Global said. According to the report, the cement companies are attempting further price hikes of Rs 10-15/bag across the country this month.
Denmark saw record number of bankruptcies in Nov
SMVdanmark, which represents 18,000 small and medium-sized enterprises in the country, said in the report published on Monday that since the summer "businesses have been hit hard by high inflation, soaring energy bills and, not least, fears about the future of the economy, which have sent consumers' appetite for buying into a tailspin", reports Xinhua news agency.
Violence, harassment at work affect nearly 23% of people globally: ILO
The survey, titled 'Experiences of Violence and Harassment at Work: A global first survey', published on Monday, found that only half of victims worldwide had disclosed their experiences to someone else, and often only after they had suffered more than one form of violence and harassment, reports Xinhua news agency.
UPI transactions see 650% rise at semi-urban, rural stores: Report
There was a growth of 25 per cent and 14 per cent in value and volume, respectively, in assisted financial transactions across semi-urban and rural retail counters in the country in 2022, according to the report by branchless banking and digital network PayNearby. While there was a 25 per cent increase in the demand for micro-ATMs and mPOS instruments, the EMI collections for financial institutions and NBFCs saw a steep growth of over 200 per cent.
Musk converts several rooms at Twitter HQ into bedrooms for employees
The beds are prepared for remaining "hardcore" staffers to be able to stay overnight at the office, reports Forbes. As employees came to the office on Monday, they saw several rooms in the office being converted into "small sleeping quarters", the report mentioned, citing sources.
Meta threatens to ban news on its platform in US over journalism bill
Andy Stone, Meta's head of policy communications, said on Twitter that if the Congress passes an "ill-considered journalism bill" as part of national security legislation, "we will be forced to consider removing news from our platform altogether rather than submit to the government-mandated negotiations that unfairly disregard any value we provide to news outlets through increased traffic and subscriptions".
Commercial losses of power discoms fall by 5% in one year
This is a sharp reduction from the last two years, when AT&C losses of discoms were in the range of 21 per cent to 22 per cent. According to official sources, the reduction in AT&C losses was calculated after analysis of the data of financial year 2022 of 56 discoms, contributing to more than 96 per cent of input energy.
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