BUSINESS
76% Indians now prefer UPI as payment mode for online checkouts
As the physical, digital and virtual worlds are converging, Indians are willing to explore and purchase within apps/browsers as well from the social media platforms, according to new research from financial services technology provider FIS.
India has conditions in place for an economic boom: Report
These drivers will make it the world's third-largest economy and stock market before the end of the decade, Morgan Stanley said in a report titled, "The New India: Why This Is India's Decade". India's GDP is likely to surpass $7.5 trillion by 2031, more than double current levels, making it the third-largest economy and adding about$500 billion per annum on an incremental basis over the decade, the report said.
Ex-Tata Steel MD Jamshed Irani passes away
"Dr J.J. Irani was a quintessential Tata man. He was a towering corporate personality whose contribution to the steel industry was immense. Dr Irani will be deeply missed by all of us at Tata Group and we pray for his departed soul," N. Chandrasekaran, Chairman, Tata Sons, said.
Pakistan's economy still in ICU with forex level at record low
Ishaq Dar, Finance Minister of the country, who replaced Miftah Ismail a month ago has had little impact on the situation. Local newspaper Dawn in its report said that forex reserves held by the country's central bank were close to nil. Of the total amount, $2.3 billion has been credited by China, $3 billion was deposited by Saudi Arabia and $1.2 billion came from the International Monetary Fund (IMF).
Iran signs gas contracts worth $6.5bn with Russia
The newly signed deals are parts of the memorandum of understanding (MoU) valued at $40 billion signed between the National Iranian Oil Company (NIOC) and Russia's Gazprom in July, that have recently turned into contracts, Xinhua news agency quoted Deputy Foreign Minister for Economic Diplomacy Mehdi Safari as saying on Monday.
Q3 2022 gold demand shines in India
According to the WGC, the gold demand in India was at 191.7 ton (value Rs 85,010 crore) during Q3 2022 as against 168 ton (Rs 71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year.
Eurozone inflation hits 10.7% in October
Driven mainly by increasing energy prices, October's year-on-year inflation rate is expected to climb to 10.7 per cent in the eurozone, from 9.9 per cent in September, Xinhua news agency reported citing the estimate released on Monday as saying.
RBI to launch digital rupee pilot project today
The central bank further informed that "the first pilot in Digital Rupee - Retail segment (ea,-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants. The details regarding operationalisation of ea,-R pilot shall be communicated in due course".
Elon Musk is Twitter CEO as company braces for deeper layoffs
Musk earlier tweeted that he has "no idea" who the CEO of Twitter is, the latest US Securities and Exchange Commission (SEC) has revealed that Musk is now the sole "reporting Person" at Twitter. The "Reporting Person" is the Chief Executive Officer of the post-merger Company.
RBI imposes Rs 5 lakh penalty on LIC Housing Finance
"This penalty has been imposed in exercise of powers vested in the RBI under the provisions of clause (b) of sub-section (1) of section 52A read with clause (aa) of sub-section (3) of section 49 of the National Housing Bank Act, 1987 (NHB Act)," a statement issued by the RBI said.
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