BUSINESS
Over Rs 1.25 lakh cr sale for retail traders this festive season
On the call of CAIT this year, the traders celebrated the festival as "Apni Diwali - Bhartiya Diwali" with all emphasis on selling exclusively Indian products, which has led to robust sales for small scale industries, local businesses,craftsmen, artistes, artisans etc. did a splendid business for the products made by them.
5G service revenue to reach $315 billion globally in 2023
This represents growth of over 60 per cent in a single year for operator-billed 5G service revenue, according to Juniper Research.
"Despite the growth of the Internet of Things, revenue from consumer connections will continue to be the cornerstone of 5G operator revenue increase," said research co-author Olivia Williams.
Wheat exports shrink this year after imposition of curbs
According to Ministry of Food and Consumer Affairs data, the couuntry exported 24.08 lakh metric tonnes (LMT) of wheat between May 15 and September 30. This was 10.3 per cent more than 21.83 LMT of wheat which was exported between April 1, 2021 and May 14, 2021.
Adani Defence and Aerospace, Israel Weapon Industries unveil India's first AI-based futuristic firing System
But now with advances in artificial intelligence (AI), arms control is a challenging but very promising application. India is prioritising AI as a key component of its national security strategy given US & China's significant advancements in AI-based research. India is well promoting its AI-based innovation and building infrastructure that is AI-ready in order to secure its strategic and national security interests.
Chinese LED lights swarm Indian homes this Diwali despite ban calls
Traders in China rushed to catch up for their last shipments and the orders remained strong, the report quoted industry insiders and experts as saying. An employee from Lulin Light Decoration, a local exporter for LED decors based in Taizhou, East China's Zhejiang province, told the Global Times that they started delivering festive products to Indian clients from April.
Automobile sales to witness 40% jump during run-up to Diwali
Auto dealers say that between Navratri and Diwali, nearly two lakh passenger vehicles are likely to be sold while around 8 lakh units so far have been booked. According to Federation of Automobile Dealers Associations (FADA), the retail sales segment witnessed 57 per cent growth during Navratri period.
Pakistan seeks $6.3b China debt rollover
Another proposal was also under consideration to seek a fresh Chinese loan to repay the maturing bilateral debt during the fiscal year 2022-23, ending on June 30, The Express Tribune reported. The issue of rollover and refinancing of nearly $6.3 billion commercial loans and the central bank debt was discussed in a meeting between Chinese Ambassador to Pakistan Nong Rong and Finance Minister Mohammad Ishaq Dar.
Global smartphone sensor market logs $6.4 billion in revenue, Sony leads
According to the Strategy Analytics report, the market for smartphone image sensors experienced a decline of more than 5 per cent year-over-year in the first half. Sony Semiconductor Solutions captured the top spot with 44 per cent revenue share, followed by Samsung System and Omnivision in the same period. Sony, Samsung and Omnivision captured nearly 83 per cent revenue share in the global smartphone image sensor market.
India smartphone shipments fell 6% in Q3, Xiaomi leads
Ultra-premium category smartphones, especially older generation flagships, also experienced strong demand momentum amid price cuts. Samsung offered deep discounts on its older generation Galaxy Z Fold3 and latest Galaxy S22 series in online and offline channels. "Similarly, demand for the aggressively discounted iPhone 13 outstripped the latest iPhone 14, whose value proposition is very similar to the former," said Chaurasia.
Manipulation of financial statements by Bombay Dyeing created misleading share price movement
Thus, when the financial statements of BDMCL for the period from FY 2011-12 to 2017-18 are found to present inflated figures of sales and profits, their disclosure as �true and fair' is an act patently fraudulent and unfair trade practice for the investors in securities, because investors rely on the financial disclosures made by the company, to make their investment/disinvestment decisions, the order said.
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