BUSINESS
Prime Minister Narendra Modi to launch 5G services on Saturday
The new technology will provide seamless coverage, high data rate, low latency and highly reliable communications. It will increase energy, spectrum and network efficiency. Meanwhile, the IMC 2022 will run from Saturday to October 4 under the theme of "New digital Universe".
RBI increases repo rate by 50 basis points
The RBI Governor Shaktikanta Das, heading the MPC, announced the hike to subdue the inflation.According to him there may be price pressure on wheat, rice and pulses due to lower sown acreage. The vegetable prices may also go up.
No hirings, more layoffs soon: Mark Zuckerberg to employees
According to The Verge, Zuckerberg made these comments during an internal call to employees. Zuckerberg mentioned during the last Meta earnings call that "Our plan is to steadily reduce headcount growth over the next year. Many teams are going to shrink so we can shift energy to other areas."
GST evasion worth Rs 824 cr unearthed, ICICI Prudential among 15 entities under probe
According to sources privy to developments, these companies were reportedly found to be availing input tax credit (ITC) without underlaying supply of goods and services. Sources informed that on the basis of specific inputs received against ICICI Prudential Insurance for reportedly availing ineligible ITC without underlaying supply of goods and services, certain other common intermediaries were also identified.
India jumps to 40th place in global innovation index
"We were 46 last time the ranking was done. We have also maintained first rank in ICT services exports over the years," he said. Goyal said this while delivering a virtual message to mark the launch of the Global Innovation Index 2022 by the World Intellectual Property Organization (WIPO). The minister said that GII has established itself as a tool for governments across the world to reflect upon policies and their impact.
Porsche shares rise on first trading day in largest European listing for a decade
The German carmaker Volkswagen listed 12.5 per cent of Porsche's shares to raise the billions of euros needed to invest in electric cars -- as well as hoping the sports car company would be able to match its Italian rival Ferrari, which has been able to attract a valuation more typical of luxury fashion brands, The Guardian reported.
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India
The proposed combination involves the acquisition of power assets namely Essar Power Hazira Ltd and Gandhar Hazira Transmission Ltd, port assets like Hazira Cargo Terminals Ltd, Ibrox Aviation & Trading Private Ltd, Essar Bulk Terminal Ltd, Essar Bulk Terminal Paradip Ltd and Essar Vizag Terminals Ltd, as well as other assets.
Competition Commission approves Adani Power's acquisition of Diliigent Power, DB Power
A public listed company incorporated in India with its shares listed on BSE Ltd as well as the National Stock Exchange of India Ltd, Adani Power has eight operational power plants in India. It has power generation capacity of 13,650 mw comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a 40 mw solar power project in Gujarat.
Government to borrow Rs 5.92 lakh crore in second half of current fiscal
The full-year borrowing target was brought down to Rs 14.21 lakh crore from the original Rs 14.31 lakh crore which was mentioned in the Union Budget for 2022-23. The borrowing plan for the second half of the current fiscal includes raising Rs 16,000 crore through issuance of sovereign green bonds (SGrBs) as per the announcement made in the Union Budget 2022-23.
India's external debt rises 7% to $617 bn in June 2022
US dollar-denominated debt remained the largest component of India's external debt, with a share of 54.7 per cent at end-June 2022, followed by debt denominated in the Indian rupee (30.4 per cent), SDR or special drawing rights (6.3 per cent), yen (5.1 per cent), and euro (2.8 per cent).
Don't Miss
Advertisement