BUSINESS
UK to be second weakest performer of world's big economies next year
The Paris-based Organisation for Economic Cooperation and Development (OECD) said of the members of the G20 group of leading developed and developing nations, only Russia would suffer a bigger contraction than Britain in 2023, The Guardian reported
Elon Musk cuts Twitter's employee perks
Meanwhile, Elon Musk has publicly expressed a desire to improve the social network's direct messages work. According to The Verge, Musk told his employees that the company would encrypt DMs and work to add encrypted video and voice calling between accounts.
Automotive firm Ultraviolette raises $24 mn led by Qualcomm Ventures, Lingotto
"As we countdown to the commercial launch of the F77 in India, this investment is a testament to the fact that we have been able to create a distinct identity for Ultraviolette and the F77 and build aspiration for the product across global audiences," said Narayan Subramaniam, Co-Founder and CEO, Ultraviolette.
India records 13-month high in mobile, fixed broadband download speed
The fixed broadband median download speed for India also hit a 13-month high of 48.78 Mbps from 48.59 Mbps, according to the data from Ookla, the global leader in network intelligence and connectivity insights. According to the October Speedtest Global Index, Macau registered the highest increase in rank, gaining 15 spots globally with the UAE at the top spot for overall global median mobile speeds.
Australia clears FTA with India
Taking to Twitter, Australian Prime Minister Anthony Albanese said: "BREAKING: Our Free Trade Agreement with India has passed through Parliament."
The pact is likely to be implemented on a mutually agreeable date. According to Australian law, the India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needs ratification by that country's parliament before its implementation.
OYO Q2 profitability to get impacted due to slower budget travel recovery
The key drivers of this recovery, according to the information filed by the company, were higher monthly revenue per hotel due to increase in occupancy rates and more homes being added to the platform.
Delhi HC junks Future's plea to stall proceedings before Singapore tribunal
Justice C. Hari Shankar said the arbitration the before SIAC will continue and did not express any opinion on the merits of the arguments in the matter. The legal battle between Amazon and Future Group was going on for over two years in various courts in India and in Singapore following a 24,713-crore deal to sell the latter's retail, wholesale, logistics, and warehousing assets to Mukesh Ambani's Reliance Industries Ltd.
Pakistan's default risk worsens
According to a research house, the CDS had been at 4.2 per cent in January 2021, The Express Tribune reported. Finance Minister Ishaq Dar and many financial experts have reiterated that Pakistan will not default on any of the international payments and that volatility in the CDS had nothing to do with the country's default risk.
Amagi acquires Streamwise to boost its streaming data analytics solutions
The acquisition will help Amagi to enhance its data solutions capabilities with comprehensive, more streamlined reporting and dashboards. "Together, we can enable content brands to shape their programming, optimise their distribution and generate better ROI (return on investment)," said Baskar Subramanian, CEO and Co-founder, Amagi.
Pakistan's current account deficit narrows 68% in Oct: Central bank
In a statement on Monday, the SBP said the current account deficit was $0.57 billion in October compared with a deficit of $1.78 billion in the same month last year, reports Xinhua news agency. During the first four months (July-October) of fiscal year 2022-2023, the current account deficit was $2.8 billion, down from $5.3 billion in the corresponding months of the last fiscal year, the figures showed.
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