BUSINESS
All about 5G spectrum auction; key dates and other features
The Cabinet announced various progressive options with regard to the spectrum to be acquired by bidders through the forthcoming spectrum auction for facilitating ease of doing business. For the first time ever, there would be no mandatory requirement to make upfront payment by the successful bidders. Payments for spectrum can be made in 20 equal annual instalments in advance at the beginning of each year.
Indian private equity investments reach $70 billion in 2k deals in 2021
Indian investments grew by 96 per cent over 2020 (excluding the mega deals of Jio Platforms and Reliance Retail). Much of the deal activity was in consumer tech and IT/ITES sectors. The two sectors combined represented more than 60 per cent of the year's deal value, at nearly $44 billion, according to the annual India Private Equity Report 2022 by Bain & Company.
Is the US economy on a tailspin into recession?
Judging by analysis by various economic experts, billionaires, investors, players in the stock market, and even officials in the government, the economy is going into a tailspin and markets are set to plunge 40 per cent, a cause for concern as at least six out of 10 Americans put their savings in the stocks hoping to grow their earnings. But 'Don't Panic' is the advice of players in the stock market.
US Fed makes biggest rate hike since 1994
The rate hike was announced at the end of the two-day policy meeting of the fed. It ran contrary to smaller rate hikes of 0.50 percentage points that had been indicated by several members of the fed's top decision making committee, the Federal Open Market Committee. "We thought that strong action was warranted at this meeting and we delivered on that," Federal Reserve Chair Jerome H. Powell said in a news conference announcing the decision.
Several online platforms down for Indian users as Cloudflare suffers outage
Cloudflare said in a system status update that it was suffering from "Network Performance Issues in the India region," and "continuing to work on a fix for this issue". It later said that the "issue has been identified and a fix is being implemented". "Cloudflare is investigating issues with network performance in the India region. Impacted customers may experience an increase in 5xx errors," the company informed.
Turkey seeks to persuade Russia, Ukraine into grain deal to prevent food crisis
Ukraine is a major grain exporter to Africa and the Middle East. As the Russia-Ukraine conflict drags on, disruption to the shipments is pushing prices higher, fuelling an international shortage of food, Xinhua news agency reported. Meanwhile, international maritime insurance companies have placed the region on a "high risk" list, which would result in significantly higher shipping prices for agricultural products.
NFTs, crypto are '100% based on greater fool theory': Bill Gates
The theory is a financial concept that even overpriced assets can make money as long as you find a bigger idiot to sell them to. Gates said he rather preferred investing in assets with tangible outputs, like farms or factories, "or a company where they make products". He was speaking at an event on climate change hosted by TechCrunch.
Global markets brace for sharpest rise in US interest rates in 30 years
After days of frenzied investor speculation and signs of growing central bank anxiety, the Federal Reserve is expected to increase the official cost of borrowing by 0.75 percentage points for the first time since 1994. The Fed meeting will be preceded by an emergency meeting of the European Central Bank (ECB) to discuss crashing bond prices in Italy, Spain, Portugal and Greece.
Bank of Baroda hikes interest rates on term, savings deposits
Interest rates have also been hiked on saving deposits of Rs 100 crore and above to less than Rs 200 crore and Rs 500 crore and above by 5-10 basis points. The upward revision in interest rates comes close on the heels of the RBI's hike in repo rate by 50 basis points at its latest monetary policy review, which was part of the central bank's measures to address rising domestic inflation as well as inflationary expectations.
Qualcomm wins battle against EU regulator's $1 bn anti-trust fine
The EU had issued the fine in 2018, and said payments Qualcomm had made to Apple between 2011 and 2016 to exclusively use its chips were illegal under EU antitrust rules. Apple sued Qualcomm in 2017 for nearly $1 billion over royalties, with Cupertino-based tech giant alleging the wireless chipmaker did not give fair licensing terms for its processor technology.
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