BUSINESS
Tesla surpasses 3 mn car production mark: Elon Musk
Tesla cars have so far achieved over 40 million miles and the company expects to reach 100 million miles at the end of this year. "Congrats Giga Shanghai on making the millionth car! Total Teslas made now over 3 mn," Musk tweeted late on Sunday. Earlier this month, Musk hinted that Tesla would probably build "at least 10 or 12 gigafactories" in years to come. Musk said that the long-awaited Cybertruck (announced in 2019) will also be unveiled soon, though he did not give further details.
Hyundai ranks 3rd in global vehicle sales in 2022 1st half
Hyundai Motor, its independent Genesis brand and Hyundai's smaller affiliate Kia Corp. sold a total of 3.299 million vehicles in global markets in the January-June period, following Toyota Motor Group's 5.138 million units and Volkswagen Group's 4.006 million units, according to their sales data. In the first six months, increased sales of Genesis models, the all-electric Hyundai IONIQ 5 and the pure electric Kia EV6 pushed up the Korean carmaker's sales ranking, reports Yonhap news agency.
Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company
Jhunjhunwala, who understood the future of online gaming in India when the industry was still in its infancy, owned 10.03 per cent or 65.88 lakh shares in Nazara Technologies, whose partnership with global e-sports platforms, game publishers and brands have made it the leading e-sport company in the country. Nazara is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, e-sports and gamified early learning ecosystems.
Push for agro export promotion to achieve USD 23.56 billion target for 2022-23
Officials said that nearly 300 events will be organised under the plan in the current year for boosting exports. The APEDA (Agricultural and Processed Food Products Export Development Authority) has planned to create awareness among stakeholders of food export by highlighting its impact on human life through various online platforms, including social media platforms.
Akasa Air founder, top broker Rakesh Jhunjhunwala passes at 62
A Chartered Accountant by qualification and training, he was 62 and is survived by his wife Rekha and two children. Oft referred to as the 'King of Bulls' in the stock markets, Jhunjhunwala's latest venture Akasa Air's maiden flight took off exactly a week ago on August 7, last Sunday. He had also shot into the limelight for his palace-like new residence coming up at Malabar Hill in south Mumbai, and had been on the board of several top companies.
CCI approves merger of HDFC Bank, HDFC Ltd
"Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter on Friday. Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices.
'Harnessing four engines of growth, India can imagine 11 per cent growth'
Addressing an event organised by the Reserve Bank of India (RBI) to celebrate Azadi Ka Amrit Mohotsav, he identified the the four challenges that need to be addressed as the loss of livelihood due to Covid pandemic, bridging the infrastructure gap, development of high quality workforce, and a greener and cleaner India with the focus on renewable power.
ED freeze on Rs 370 cr bank assets 'unfortunate': Crypto firm Vauld
Vauld, which last month suspended all withdrawals, trading and deposits on its platform owing to "financial challenges", said that despite extending its cooperation, "the Enforcement Directorate has proceeded to pass a freezing order, pursuant to which crypto assets in the pool wallets of the company have ordered to been frozen to the extent of approximately Rs 2,040 million".
Russia's economy shrinks significantly in Q2
Gross domestic product (GDP) fell by 4.0 per cent in the period from April to June compared to the corresponding quarter of the previous year, dpa news agency quoted the national statistics office as saying on Friday. Economists had expected a sharper decline of 4.7 per cent. Economic output has thus fallen back to the level of 2018.
The see-saw battle of bulls and bears since 2020
"Indian equity markets have seen a fair amount of ups and downs over the last two years, largely on account of the Covid-19, the lockdowns that were put in place to restrain it, and its consequent impact on the global economy," the blog said. The Nifty 50 sank to a low of nearly 7,500 points in March 2020 post which it started its upward climb to more than 18,500 points in October 2021.
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