BUSINESS
Will RBI get more teeth to regulate PSU banks?
A throwback to this anomaly is when former RBI Governor Urjit Patel in a speech titled 'Banking Regulatory Powers Should Be Ownership Neutral' in March 2018 threw into stark relief that though the RBI is the banking regulator, the powers to regulate PSBs are held by the government.
Microsoft India hikes prices of products, services by up to 11%
The company said the "Indian rupee pricelist changes to harmonise its prices for commercial on-premises software and online services between India and the Asian region, effective February 1, 2023". "Starting February 1, 2023, Indian rupee prices for commercial on-premises software will increase by 4.5 per cent, online services will increase by 9 per cent, and Windows GGWA will increase by 11 per cent to realign close to prevailing USD pricing levels in the Asian region," said Microsoft in an official announcement.
Takeaways from RBI's MPC meeting can be more than repo rate hike
Economic experts expect the MPC to hike the repo rate by 25-35 basis points (bps) with industry lobby body ASSOCHAM also urging the central bank to do the same. Further it will also be interesting to see whether there will be unanimity amongst the members of the MPC on the decisions taken at the ensuing meeting.
Momentum in markets is setting in
BSESENSEX gained 574.86 points or 0.92 per cent to close at 62,868.50 points while NIFTY gained 183.35 points or 0.99 per cent to close at 18,696.10 points. The broader markets fared much better and we saw BSE100, BSE200 and BSE500 gain 1.18 per cent, 1.42 per cent and 1.50 per cent respectively. BSEMIDCAP was up 2.84 per cent while BSESMALLCAP gained 2.43 per cent.
Chinese EV maker BYD widens market leadership gap with Tesla in Q3
On the other hand, Tesla's global sales grew only 43 per cent YoY in Q3 2022 to over 343,000 units, according to Counterpoint Research. "The smoothing production ramp in Tesla's Berlin factory helped deliver a record number of Model Ys in Germany this quarter. However, deliveries fell short of expectations due to logistics bottlenecks," the report mentioned.
Apple 'fully resumed' advertising on Twitter, says Musk
According to Bloomberg, during a two-hour Twitter Spaces Musk also mentioned that Apple was Twitter's largest advertiser, reports MacRumors. The tech giant reportedly spends more than $100 million a year on advertising on the micro-blogging platform. Meanwhile, Musk had criticised the App Store cut on November 18, by calling it a "hidden 30 per cent tax on the Internet".
Elon Musk advises Joe Biden to just buy a Tesla
Joe Biden recently announced the release of the first round of funding for a nationwide EV charging network, financing the construction of stations in 35 states. "We're building 500,000 electric vehicle charging stations across the country. The great American road trip will be fully electrified," posted Biden on Twitter.
Indian aviation safety records significant jump in ICAO global ranking
A senior official of the aviation regulator on Saturday said that it is a quantum leap from its 102nd rank four years ago. With a view to check its effective implementation (EI) of critical safety elements, the International Civil Aviation Organisation (ICAO) had last month audited the Indian Directorate General of Civil Aviation (DGCA).
Government issues guidelines for PLI scheme on drones
These guidelines cover aspects like the definitions, qualification and eligibility application and online portal project management agency (PMA), empowered group of secretaries (EGoS) and competent authority. To make India a global hub for research and development, testing, manufacturing, and operation of drones under the Aatmanirbhar Bharat Abhiyan, the liberalised Drone Rules, 2021 were released to create a growth-oriented regulatory framework for drones.
Pakistan repays $1b bond, dismisses perception of default
As per the actual schedule, the country was to return the maturing investment in the US dollar-denominated global bond on Monday, The Express Tribune reported. "Yes, we have made the payment of $1 billion," State Bank of Pakistan (SBP) spokesperson Abid Qamar confirmed to The Express Tribune. The bank has made the payment to Citigroup, which will transfer the funds onward to the investors.
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