BUSINESS
India at no. 3 on list of centi-millionaires, to overtake China by 2032: Report
Out of the world's 25,490 centi-millionaires, India has 1,132, beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs, and heirs.
Austria's inflation hits 70-year high
Statistics Austria said on Wednesday that the September inflation rate was 1.2 percentage points above that registered in August and exceeded the high inflation levels "during the oil crisis in the 1970s", reports Xinhua news agency.
Competition Commission penalises OYO, GoIbibo, MakeMyTrip
"Based on the complaints filed by us back in 2019, Oyo and Go-MMT were under investigation by the CCI for indulging in anti-competitive conduct. The CCI had then identified a case for investigations into both the entities' business practices under Section 26(1) of the Competition Act, 2002. Today, the CCI has imposed penalties of Rs 223 crore and Rs 168 crore on Go-MMT and Oyo for anti-competition practices.
Tesla doubles net income to $3.3 bn in Q3, automotive sales up 55%
In a letter to the shareholders, the electric car-maker said late on Wednesday that the third quarter was another strong quarter with record revenue, operating profit, and free cash flow. "In the last 12 months, our free cash flow exceeded $8.9 billion. Our operating margin reached 17.2 per cent in Q3," the company said in a statement.
Israel to issue govt bonds on blockchain platform for 1st time
The pilot issuance of digital government bonds will be conducted by the digital-asset technology companies VMware and Fireblocks, Xinhua news agency reported, citing the statement. As part of the issuance, leading international and local banks will participate in a live test, during which they will be connected to a dedicated blockchain system. The new platform for the trading and clearing of digital assets, based on the innovative technologies of blockchain, smart contracts, and tokenization, will be developed by TASE and selected technology vendors.
Musk says overpaying for Twitter but it has 'incredible potential'
In an earnings call after posting strong Tesla quarterly results, Musk said late on Wednesday that Twitter has "incredible potential". "The long-term potential for Twitter, in my view, is an order of magnitude greater than its current value," he told analysts. "I am excited about the Twitter situation because obviously, I know that part incredibly well.
Indigo tops with 57.7% market share in Sep, Vistara, Air India second and third
As per the aviation regulator's data for September, Indigo carried 59.72 lakh air passengers during the month while Vistara carried 9.96 lakh air passengers. Air India was at third position with 9.49 lakh passengers and 9.2 per cent market share. Similarly, Go Air, with 8.15 lakh air passengers, had a market share of 7.9 per cent during September.
SpaceX could spin off Starlink as public company by 2025: Report
According to tech analyst firm CCS Insight, as Starlink's "revenue becomes more predictable and it gains more and more users, the company is spun off to raise capital to expand its constellation of satellites" to meet the growing demand for its services, reports CNBC.
Mineral production rose 4.2% cumulatively in April-August 2022-23
Production level of important minerals in August, 2022 were coal at 580 lakh tonnes, lignite at 29 lakh tonnes, natural gas (utilised) at 2,829 million cubic metres, petroleum (crude) at 24 lakh tonnes, bauxite at 1,450 thousand tonnes and chromite at 1,46,000 thousand tonnes, among others.
FCI to build steel silos at 249 spots in 12 states
In the first phase, silos of 34.875 LMT capacity at 80 locations would be constructed by the FCI. Out of this, 10.125 LMT at 14 locations would be under the develop build operate and transfer (DBFOT) mode and 24.75 LMT at 66 locations would be under the develop build own and operate (DBFOO) mode.
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