BUSINESS
Russian central bank lowers key rate to 14%
Recent data has demonstrated a slowdown in price growth rates against the backdrop of the strengthening of the ruble, and a cooling of consumer activity, it said. Further inflation movements will be shaped by such impactful factors as the efficiency of import substitution processes and the scale and speed at which imports of finished goods, raw materials and components will be recovering, according to the central bank.
Sri Lankan inflation rises 29.8% in April
Prices of items in the non-food category recorded increases mainly due to price increases observed in sectors such as transport, water, electricity and gas, while prices of items in the food category increased due to hike in prices of milk powder, rice, bread, dal, sugar and dried fish during the month.
Samsung ends deadlock with workers, agrees to 9% pay raise for 2022
The world's largest memory chip and smartphone maker reached an agreement with representatives of its employees over wages and other labour policies, including paid leave. The announcement was said to be made internally earlier in the day, according to the sources, reports Yonhap news agency. The pay raise is about 1.5 percentage points higher than the 7.5 percent wage hike in 2021, the highest in a decade.
Equities close week in red amid volatility in global market
Domestic market reduced exposure ahead of the shortened next week and opening of India's largest IPO, he said. Besides, dips are encouraging investors to accumulate quality stocks with focus on defensives and domestic growth sectors like manufacturing and capital goods. On Friday, Sensex closed at 57,061 points, down 0.8 per cent or 460 points, while Nifty ended at 17,102 points, down 0.8 per cent or 142 points.
US Fed behind curve, significant recession likely by late next year: Deutsche Bank
Notably, the US is currently witnessing a rise in inflation. "Inflation is too high and unemployment has moved too low to be consistent with stable inflation," the report said. The US Fed's Misery Index has jumped to four decade highs, the report said. "It is noteworthy that in the past, every time this index has moved noticeably above zero, the economy has gone into recession within a few years as a result of monetary tightening."
Now Zilingo fraud saga threatens India's great startup run
After the long-drawn Ashneer Grover-BharatPe saga that put corporate governance on top of the stakeholders' minds, Singapore-based fashion-tech startup Zilingo asked Bose - who co-founded Sequoia Capital-backed Zilingo as a 23-year-old in 2015 -- to stay out of office till May 5, accusing her of inflating revenues.
Amazon Fire TV Cube now supports audio streaming for hearing aids
The company said that this makes Fire TV the first-ever streaming media player to support ASHA. "With this feature, your hearing aids connect with Fire TV at the system level, so you can not only enjoy audio from your favourite apps but also Alexa, music, navigational sounds, and more," the company said in a blogpost.
Samsung ends deadlock with workers, agrees to 9% pay raise for 2022
The world's largest memory chip and smartphone maker reached an agreement with representatives of its employees over wages and other labour policies, including paid leave. The announcement was said to be made internally earlier in the day, according to the sources, reports Yonhap news agency.
'GST Council's GoM to recommend best practices to tax online gaming, horse racing'
Speaking to reporters ahead of the GoM in the national capital on May 2, Godinho, the state's representative to the Council, also said that after the recommendations made by the GoM, the GST council would take a final call on the taxation policy for the three services.
GST Council meet: Extension of compensation cess to be in focus
Among the many items on the Council's agenda, the extension of the GST compensation cess to states could turn out to be a contentious issue if the government refuses to accede to the request, given its vociferous demand from several opposition-rules states.
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