BUSINESS
Buyer-seller relationship with Russia, says Hardeep Puri on crude purchases
On fuel prices being stable for the past five months in the country, the minister said that though prices of oil and gas have been rising globally, the prices have not risen by that much in India. "With quiet confidence we will navigate the situation," Petroleum Minister Hardeep Puri said.
Growing trade between Russia and India opens a new era for Silk Road
The Ministry of Industry and Trade of India reported that trade turnover between Russia and India exceeded $18.2 billion in the first five months of the fiscal year. The surge in trade between the two countries made Russia the country's seventh largest trade partner, rising from 25th place with a total trade turnover of $13.1 billion in 2021.
RBI has to publish decision, minutes of MPC meeting as per law
As per the section, when the RBI fails to meet the inflation target, it shall send a report to the Central government listing: (a) the reasons for failure to achieve the inflation target, (b) remedial actions proposed to be taken by it, and (c) an estimate of the time-period within which the inflation target shall be achieved pursuant to timely implementation of proposed remedial actions.
Binance CEO invests $500 mn in Elon Musk's Twitter to support free speech
Changpeng Zhao, famously known as CZ, told an audience at the Web Summit in Lisbon that "when we invest in a deal, we're very comfortable if the deal goes through. We're very comfortable if the deal doesn't go through. We always want to get to a point where we're in that position".
Karnataka best for industries moving out of China, Europe: Nirmala Sitharaman
"They are moving out to other destinations which are offering more than just tax incentives. Karnataka is the major job generator in the country. While contributing 8.8 per cent to the national GDP, whilst its population is just five per cent of total national population, 10 per cent of all formal jobs are created here," Nirmala Sitharaman explained.
Mahindra Holiday & Resorts books lower net in Q2 shares down
According to Mahindra Holidays & Resorts India Ltd, for Q2FY23 it had logged a profit of about Rs 30.90 crore (Q2FY22 profit about Rs 40.55 crore) on an operational revenue of about Rs 283.60 crore (Rs 237.66 crore). The company's total expenditure for the period under review went up by about Rs 49.75 crore during Q2FY23 as compared to the same period the previous year.
Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability
These legal issues involve a cumulative liability of Rs 22,000 crore, and they need quick resolution for the successful closure of RCAP's resolution plan. According to sources, the bidders are likely to make a condition precedent of these issues to any payment to the lenders.
Hyundai, Kia's US sales up 7.9% amid chip shortage
Hyundai Motor, its independent Genesis brand, and Hyundai's smaller affiliate Kia sold a combined 123,233 vehicles in the world's most important automobile market in October, up from 114,128 units a year ago, according to the companies' sales data.
Twitter rival Koo surpasses 50 million downloads
Koo is available in 10 languages including Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, Telugu, Assamese, Bengali and English. According to the platform, there are more than 7,500 high-profile people, millions of students, teachers, entrepreneurs, poets, leaders, writers, artists, actors, etc. actively posting in their native languages.
Business confidence drops to lowest level in Pakistan
The Gallup Pakistan Business Confidence Index showed 65 per cent of business owners believe their businesses are facing bad conditions, Dawn news reported. Industrial machines businesses are doing the best out of all types of businesses, with 75 per cent of them believing that conditions are good.
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