BUSINESS
PFC raises Rs 3,000 cr via 47-month bonds at 7.13%
Power Finance Corporation Ltd raised Rs 3,000 crore through bonds maturing in 47 months at a coupon rate of 7.13 per cent, market participants have said. The company had planned to raise Rs 3,000 crore, which included Rs 2,500 crore in greenshoe. The bidding for the bonds has taken place on electronic bidding platform of the National Stock Exchange of India.
New VR jobs die down at Meta, Google amid hiring freeze: Report
The VR job postings have also slowed down at other Big Tech companies like Apple and Google amid the hiring frezz and layoff season owing to the global economic meltdown, according to workplace research platform Revelio Labs. Since Meta's rebranding in October 2021, the number of new job postings mentioning virtual reality (VR) skyrocketed in early 2022.
LIC Housing Finance hike prime lending rate by 50 basis point
The new rates of LIC Housing Finance will be effective from Monday. The move was inline with the central bank, which hiked repo rate by 50 basis points in the recent monetary policy to tame inflation that is hovering above the upper tolerance band for consecutive months.
AT1 bond issuances likely to fall to around Rs 200 billion in FY2023: ICRA
"Public sector banks are expected to raise Rs 201 billion in AT-I bonds during FY2023, but private sector issuances are expected to remain modest depending on market opportunities. Unlike in FY2022, when issuances were mostly driven by rollover requirements, issuances by public banks in FY2023 are primarily driven by growth requirements," said Anil Gupta, Vice President, ICRA.
Affordable Housing sales dip, luxury segment up
Latest ANAROCK Research data finds that of nearly 1.84 lakh units sold in these cities in H1 2022, about 14 per cent (approx. 25,700 units) were in luxury homes. Contrastingly, of 2.61 lakh units sold in the whole of 2019, just 7 per cent (approx. 17,740 units) were in the luxury category. Mumbai metropolitan region (MMR) and NCR have led luxury homes sales with H1 2022 seeing nearly 17,830 units sold in these two cities alone. In 2019, they accounted for a mere 11,890 luxury homes sold in the entire year.
Report suggesting 'India on the verge of capex recovery' gets mixed response
However, Kotak Securities in its report, citing the Reserve Bank of India (RBI), said that the capex led loan demand is not visible as yet. "The current visibility of capex loan demand is still not comfortable to establish the view that growth from corporate sector is on an upswing. Infrastructure (power and roads & bridges) remains a preferred destination for bank funding, but mega projects have been out of favour," Kotak Securities said.
Paytm shares jump after Vijay Shekhar Sharma reappointed as MD, CEO
At 11.00 a.m., shares of One97 Communications were trading at Rs 785.55 a share, up 1.74 per cent.
In a shareholders meeting on August 21, Vijay Shekhar Sharma was reappointed as MD & CEO of Paytm. A total of 99.67 per cent majority votes were recorded in favour of the resolution, Paytm said in a statement.
Qantas issues apology, refunds to millions of customers amid disruptions
"On behalf of the national carrier, I want to apologise and assure you that we're working hard to get back to our best," Qantas CEO Alan Joyce said statement. Joyce has been under intense scrutiny as the airline has suffered severe worker shortages, mass cancellations and delays of flights, and misdirected luggage, reports Xinhua news agency.
No service charge on UPI, clarifies Centre
"UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means," the Finance Ministry said in a tweet.
Facebook losing its grip as 'Top 10' app in US: Report
According to an analysis of iPhone App Store data, as younger consumers shift to newer social networking experiences like TikTok and now BeReal, the tech giant's app has lost traction in the App Store's Top Charts, reports TechCrunch. As per the report, last year, Facebook only fell out of the Top 10 free iPhone apps in the US seven times. But in 2022, that figure has already soared to 97 -- an indication that Facebook may be losing ground as new apps push their way into the App Store's top rankings.
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