BUSINESS
Financial fraud case: Religare Enterprises Ex-CEO Krishnan Subramanian gets bail
Manpreet Singh Suri, a representative of Religare Finvest Ltd (RFL), had filed a complaint against Malvinder Singh, Shivinder Singh, Sunil Godhwani, and others holding key managerial posts, alleging that having absolute control over Religare Enterprises Limited and its subsidiaries, these persons put Religare Finvest Limited (RFL) in poor financial condition by way of disbursing loans to companies having no financial standings.
Lumax moves Delhi HC over trademark infringement dispute
Justice Jyoti Singh, while allowing the petition on Monday, clarified that the court has not expressed any opinion on the merits of the case and the trial court shall decide the applications independent of any observations or narrative of facts given in the present order, which are limited to the disposal of the present petition.
US federal deficit totals $360bn in first 7 months of FY2022
That amount is about one-fifth of the $1.9 trillion shortfall recorded during the same period in fiscal year 2021, the CBO said in its monthly budget review released on Monday. Revenues were $843 billion, or 39 per cent higher and outlays were $729 billion, or 18 per cent lower than a year ago, the report showed.
Mayhem in crypto market as Bitcoin drops below $30,000-mark
Bitcoin was more than 55 per cent down since its all-time high of $69,000 in November last year. Other digital coins also suffered double-digit-percentage drops, led by Cardano (20 per cent), Solana (16 per cent), XRP (13 per cent), BNB (16 per cent), and Ethereum (10 per cent), Decrypt reported. Experts said that rising interest rates, along with weakening economic activity, has created a risk-off environment.
No agreement reached between Hungary, EU over Russian oil embargo
"This evening's discussion with PM Viktor Orban was helpful to clarify issues related to sanctions and energy security," von der Leyen tweeted on Monday night following the 90-minute-long working dinner at the Hungarian leader's residence in the Castle District of Budapest. "We made progress, but further work is needed. I will convene a VC (video conference) with regional players to strengthen regional cooperation on oil infrastructure," she added.
Equities steady in opening deals as rupee appreciates marginally
Rupee too took a breather as it has appreciated from its all-time low of 77.42 the previous day to 77.25 this morning. Rupee has been under-pressure after global central banks started normalising policy and last week RBI too raised key interest rates. At 10.27 a.m., Sensex was 0.02 per cent down at 54,456 points, whereas Nifty was 7 points up at 16,309 points.
Global 5G IoT shipments to overtake 4G by 2028
5G shipments is set to overtake 4G by 2028 to become the leading technology in the global cellular IoT module market, according to Counterpoint Research. China leads in 5G adoption in the global cellular IoT module market. However, North America and Europe will have great potential in the future, the report mentioned.
GST Council mulling 28% tax on Bitcoin, other cryptocurrencies
The services such as crypto mining along with sales and purchases are likely to attract the 28 per cent GST if the proposal goes through in the next GST meeting, according to reports. The date of the next GST meeting is yet to be finalised.
Equities settle low on weak rupee, possible global policy hardening stance
Tightening lockdowns in China to curb Covid spread also weighed on the market sentiment. "The relentless rise in the US dollar index owing to interest rate hikes and rising US treasury yield hammered investor's risk appetite. Strong US jobs data indicated possibilities of faster rate hikes forcing investors to opt for safe-haven assets," said Vinod Nair, Head of Research at Geojit Financial Services.
Tod's S.p.A, Reliance Brands enter into multi-year franchise agreement
Tod's has been operational in India since 2008 with mono brand stores in DLF Emporio, New Delhi, and Palladium, Mumbai and multi-brand ecommerce platform Ajio Luxe. The management of existing channels will be taken over by Reliance Brands Ltd and the focus will be on enhancing the brand's potential in the market and strengthening their digital presence.
Don't Miss
Advertisement