BUSINESS
SoftBank writes off $100 million investment in bankrupt crypto exchange FTX
According to MarketWatch, the investment is now marked down to zero with SoftBank saying "it would not face a material markdown in the value of its stake".
Sri Lanka's 2023 budget aims a way out of current economic crisis
Anticipating an International Monetary Fund (IMF) $2.9 billion bailout, Wickremesinghe said that negotiations are currently in progress and the government is "in dialogue with India and China on debt restructuring". "We are confident that these discussions will lead to positive outcomes," he said.
Retail inflation slides to 6.77% in October
Though food inflation in October fell to 7.01 per cent from 8.6 per cent in the previous month, prices of meat and egg, milk, vegetables, and cereals rose. Retail inflation in October though was at a three-month low from a five-month high of 7.41 per cent in September.
'LIC drove industry's growth in Oct, performance of pvt players lacklustre'
The life insurance sector registered new business premium (NBP) and annualised premium equivalent (APE) growth of 15.3 per cent and 10.3 per cent year-on-year (YoY), respectively, while the month on month (MoM) got moderated, Axis Securities said.
China's real estate crisis could be over
Key measures include allowing banks to extend maturing loans to developers, supporting property sales by reducing the size of down payments and cutting mortgage rates, boosting other funding channels such as bond issues, and ensuring the delivery of pre-sold homes to buyers.
Year 2023 will be year of disinflation in Asia: Morgan Stanley
"We expect 2023 to be a year of disinflation. Asia's inflation, which had more of a cost push element, has already peaked in 3Q22. For 90 per cent of the central banks in Asia, inflation will return to target/comfort zone by 3Q23. In contrast, inflation will remain somewhat above target in the US and Euro Area," Morgan Stanley said.
SpaceX buys big ad campaign on Twitter for Starlink
According to internal records from the platform viewed by CNBC, the campaign will advertise Starlink, a satellite internet service owned and run by SpaceX, on Twitter in Spain and Australia. A Twitter 'takeover' is the term used to describe the advertising campaign which SpaceX has brought to promote Starlink.
Wholesale inflation eases to 8.39%, consumers may not benefit
It was also less compared to 10.70 per cent in September, mainly due to a slide in commodity prices. This was also the first time that the WPI fell below a double-digit mark in 18 months.
Air India joins industry bodies FIA, AAPA
In the domestic arena, the flag carrier has rejoined the FIA which FIA works with regulatory authorities, government departments and other stakeholders to highlight key areas of concern, including safety, passenger amenities, ground services and aviation protocols, among others, with an overall objective of fostering safety & growth in the country's aviation sector.
Prime Minister's involvement and constitutional status, key to uplift ECCE in India: Pencil Power Report
It is the brainchild of Ashish Jhalani, Head Global Operations at Square Panda, who had also co-authored a report released by the PM's Economic Advisory Council, titled 'The State of Foundational Literacy and Numeracy in India' in December 2021.
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