BUSINESS
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.
Airtel surpasses 1 mn customers on it 5G network in less than 30 days
"Our network is being built every day even as all 5G devices are now capable of working on the Airtel 5G Plus network barring a few exceptions which should also be done in the coming weeks. We will continue to advance our network with a vision to connect the entire country," said Randeep Sekhon, CTO, Bharti Airtel.
Rupee has behaved in an orderly manner, says RBI Governor
Shaktikanta Das, while addressing industry body FICCI's banking summit in Mumbai, said that capital flows will resume as the US Federal Reserve will not resort to tightening of rates for a long time. The RBI Governor's comments on the rupee came just hours before the US Fed is scheduled to meet later in the day to review key rates.
Indian CV sector to log volume growth
The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report. The sector recovered 26 per cent in the fiscal 2021-22 after being hit by Covid-19. During the current fiscal, the CV majors are logging good growth driven mostly by goods carriers while sales of buses is also picking up.
Don't Miss
Advertisement