BUSINESS
Why India's exports to Europe could see a big jump following Ukraine war
Until February this year, Russia was one of the main trade partners of the European Union. In 2021, Moscow was the EU's fifth largest trade partner, representing 5.8 per cent of the region's total trade in goods with the world. Besides oil and gas, EU's imports from Russia comprised wood, iron and steel, fertiliser, machinery and equipment, motor vehicles, pearl, and precious stones among other items. The EU is already India's second largest trading partner after the US.
'Diwali festive sales likely to witness growth of Rs 60K crore rupees over 2019'
The buying season of Diwali is considered to start from the first Navratri and last till Tulsi Vivah, to be marked on November 5 this year. CAIT Secretary General Praveen Khandelwal claimed that Prime Minister Narendra Modi's campaign of Vocal for Local and Atmnirbhar Bharat has had a huge impact on consumers across the country, and that customers now demand only Indian products in the markets.
Vodafone Idea's board approves issuance of Rs 1,600 crore debentures to ATC Telecom
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and Rs 2,400 crore to ATC. There was however no word on clearing Indus Towers' dues in the meeting. Indus Towers is said to have asked Vodafone Idea to clear its outstanding dues and pay every month on time for continuity of business post-November 2022. Friday's meeting was held to finalise plans for raising funds.
Akash Ambani to launch 5G services in Rajasthan from Shrinathji temple on Sat
As per the information received, Akash Ambani will reach Udaipur on Saturday morning by a special plane, from where he will travel to Nathdwara to launch 5G services in the desert state. Ambanis have immense faith in Shrinathji -- the deity of the Ambani family -- from whose temple it had launched Reliance Jio 4G services earlier.
RIL shareholders to get shares on 1:1 basis in soon to be listed JFSL
JFSL would be listed on the Indian stock exchanges. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-deposit taking systemically important (ND-SI) non-banking financial company (NBFC). Pursuant to the scheme, shareholders of RIL will receive one equity share of JFSL of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.
RIL posts Rs 15,512 crore net for Q2
For the period ended September 30, 2022, RIL had posted a gross revenue of Rs 253,497 crore up from Rs 191,532 crore logged for the period ended September 30, 2021. The company had registered a net profit of Rs 15,512 crore for the period ended September 30, 2022 up from Rs 15,479 crore posted for same period the previous year.
'Autonomous cars won't soon take the role of human drivers on Lyft'
According to TechCrunch, John Zimmer said he "can't imagine anytime in the next decade-plus where we would need any less drivers". He noted that he envisions autonomous vehicles handling anywhere from 1 per cent to 10 per cent of rides in the future. "What we do in our industry represents maybe 1 per cent of vehicle miles traveled," Zimmer was quoted as saying.
Hindustan Unilever logs Rs 2,616 crore PAT in Q2
Hindustan Unilever Ltd 's Board on Friday, approving the accounts, also declared an interim dividend of Rs 17 per equity share of face value of Re 1 each.For the period under review, HUL had posted a revenue of Rs 14,514 crore (Rs.12.516 crore for Q2FY22) and a net profit of Rs 2,616 crore (Rs.2,187 crore).
HDFC Life logs Rs 326.23 crore profit in Q2
The company said it had earned a net premium of Rs 13,110 crore (Rs 11,443 crore in Q2FY22) and an after tax profit of Rs 326.24 crore (Rs 274.16 crore) for Q2FY23. During the period under review, the company's net investment income stood at Rs 9,782.62 crore (Rs.8,873.38 crore).
Government gets dividends from IRFC, NALCO, CONCOR
This was tweeted by Secretary in the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey. Two days back, the government had received Rs 197 crore, Rs 48 crore and Rs 10 crore, respectively, from Uranium Corporation of India Ltd, KIOCL and Shipping Corporation of India as dividend tranches.
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