BUSINESS
'Tyres with a muscle', MRF posts lower net
The 'tyres with muscle' is one of the popular taglines of MRF tyres. The Board of Directors of MRF at their meeting on Tuesday declared an interim dividend of Rs 3/share for FY23 and also approved the enhancement in the issue of Non-Convertible Debentures through private placement from Rs 100 crore to Rs 150 crore.
India saw 6% decline in hiring in Oct amid funding winter: Report
Month-on-month job postings also saw a 5 per cent decline in the country. However, with companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors.
Snap to pay sound creators up to $50K a month in India
Snap has partnered with DistroKid, an independent digital music distribution service, to facilitate and distribute payments for up to 20 artists per month at $2,500. Snap in India launched the 'Snapchat Sounds Creator Fund' -- a new grant programme designed to recognise emerging artists in the country in driving video creations and defining cultural moments on Snapchat and Spotlight alike.
EC advances digital euro with legislative proposal
The conference, held by the EC and the European Central Bank (ECB) in Brussels, focuses on the legislative framework for the digital euro, reports Xinhua news agency. "The European Commission has been working together with the ECB to respond to the growing demand for online payments," Valdis Dombrovskis, EC executive vice-president, said at the conference.
Inflation, rising costs to slow down digital transformation: Report
About 63 per cent of healthcare and pharmaceutical industry professionals in North America expected a disruption to digitalisation initiatives in their business units due to inflation. The same opinion was expressed by 55 per cent of industry professionals in Europe and 47 per cent in the Asia-Pacific region, according to Global Data, a leading data and analytics company.
US seizes over 50K Bitcoin worth $3.3 bn stored in popcorn tin
The 32-year-old James Zhong from Georgia fraudulently obtained the Bitcoin from The Silk Road -- a site on the dark web once called "the Amazon of drugs" -- in 2012. Zhong has now pleaded guilty to committing wire fraud in September 2012, when he unlawfully obtained over 50,000 Bitcoin from the Silk Road dark web internet marketplace, the US Department of Justice said in a statement late on Monday.
Pakistan's oil sector warns of looming petrol, diesel crisis
"Keeping in view the ongoing sales trend, we foresee product (petrol, diesel) availability challenges in various pockets of the country in days to come due to inadequate imports and limited local avails," said the OCAC, a representative body of the oil sector in the country.
EU officials warn of economic slowdown
"If we look at high-frequency indicators and the economic sentiment, we see that many things point to a contraction in economic activity this winter," Gentiloni said at a press conference of the Eurogroup on Monday. Paschal Donohoe, president of the Eurogroup, said everyone knows that the economy within the euro area is slowing down. In October, economic growth for the area stood at 0.5 per cent, Xinhua news agency reported.
Paytm records revenue growth of 76% to Rs 1,914 crore
Paytm has reported robust traction across all its businesses, which has helped it achieve stronger revenue growth, with improvement in EBITDA before ESOP cost (improvement of Rs 200 crore in the last two quarters). It also witnessed a sustained increase in contribution profit of 224 per cent YoY and 16 per cent QoQ to Rs 843 crore.
SBI to issue electoral bonds through 29 branches between Nov 9-15
The bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the electoral bond is deposited after expiry of the validity period.The electoral bond deposited by an eligible political party in its account shall be credited on the same day, official sources said.
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