BUSINESS
Russian gas shutdown would send some EU countries into recession: IMF
Amid speculation that Russian President Vladimir Putin will keep the Nord Stream 1 pipeline closed when routine annual maintenance ends later this week, the IMF said Europe lacked a comprehensive plan to cope with shortages, further increases in energy prices and the impact on growth, The Guardian reported. The Washington-based fund identified Hungary, Slovakia and the Czech Republic as the three EU countries likely to suffer most, but said that Italy, Germany and Austria would also suffer significant effects, the report said.
After IndiGo bans top CPI-M leader, airlines' bus confiscated for tax dues
The bus, which operates in Kozhikode airport, was impounded by the MVD around noon on Tuesday. The airlines was told that once it pays the dues along with the fine, the bus will be released. Chief Minister Pinarayi Vijayan on Tuesday slammed IndiGo Airlines for imposing a three-week travel ban on Jayarajan.
No GST on food items when sold loose, clarifies Sitharaman
The Finance Minister released a list of items that will not attract any GST, when sold loose, and not pre-packed or pre-labeled. In a series of tweets, she said: "Recently, the GST Council in its 47th meeting recommended to reconsider the approach for imposition of GST on specified food items like pulses, cereals, flour, etc.
STL wins Rs 250 cr deal to build Indian telco's optical network for 5G
STL will provide specialised optical fibres and deployment services to build the service provider's network across nine telecom circles across the country. According to industry sources, STL will help Airtel deliver a world-class customer experience through enhanced scalability, reduced latency and improved bandwidth.
Explained: How GST rates will affect the monthly budget
As per the available data it is estimated that household budgets are likely to increase by more than Rs 1,000 per month. Flour, rice, dals to be costlier. For example a 20 kg bag of flour will cost Rs 630 to Rs 650 which was earlier Rs 600 per bag, and refined flour will cost Rs 5 to Rs 6 per kg. Similarly rice which cost Rs 1300 to Rs 1600 for a 25 kg bag will cost Rs 1400 to Rs 1800.
GoAir flights grounded after technical glitches
GoAir A320 aircraft VT-WGA flight G8-386 from Mumbai to Leh was diverted to Delhi, and GoAir A320 aircraft VT-WJG flight G8-6202 from Srinagar to Delhi was turned back to Srinagar due to EGT over-limit in the engine. The first plane was diverted to Delhi due to an EIU (Engine Interface Unit) fault in engine number 2.
Rupee depreciates to 80 against US dollar
As predicted earlier, the Indian rupee on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts. Experts also said though the rupee has depreciated against the dollar, it has appreciated against other currencies.
Global smartphone shipments fall 9% in Q2 amid economic downturn
Apple came second with a 17 per cent market share as the iPhone 13 remained in high demand. Xiaomi, OPPO and vivo continued to struggle in China, suffering double-digit declines to take 14 per cent, 10 per cent and 9 per cent market shares, respectively, according to research firm Canalys. Demand has started to wane following economic headwinds and regional uncertainty, the report noted.
UP targets Rs 10 lakh crore investment in global summit
According to a government spokesman, the state had emerged as a dream destination for industrial investment in the country and Chief Minister Yogi Adityanath has directed the officials across departments to pull up their socks to propel the growth bandwagon to the next level now. The chief minister told officials to target investment of Rs 10 lakh crore in the state through the event.
Shiprocket acquires Arvind's omnichannel tech biz 'Omuni' for Rs 200 crore
The deal will leverage both companies' technology and resources to enable quick, efficient, hassle-free deliveries from the closest store/warehouse in a larger D2C commerce enablement segment,, Shiprocket said in a statement. "Omuni's SaaS products will allow us to unify inventory, order, catalog, content, pricing, and data across physical and digital storefronts for the best possible e-commerce experience for customers,".
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