BUSINESS
Debt payment to exports ratio highest in Pakistan, Sri Lanka
The World Bank also improved Pakistan's GDP growth prospects up to 4.3 per cent from the earlier projection of 3.4 for the current fiscal year and 4 per cent for the next fiscal year 2022-23. "Indicators of ability to pay, such as the ratio of public external debt service to exports and remittances, is the highest in Pakistan and Sri Lanka.
Diesel set to rise above Rs 200/litre for the first time in Pak
In the second fortnight of current month starting April 16, the newly formed Pakistan government would be required to either jack up the price of diesel by Rs 60.54 per litre or enhance subsidy to maintain the existing price, officials said. If the leadership chooses to increase the price, the per-litre diesel cost will jump to Rs 204.69.
Video chat app Zoom unveils new products as its stock nosedives
The demand for Zoom soared in the two years of the pandemic as companies shut offices and employees had to work from home. Remote learning and telemedicine also gave a boost to Zoom Video's cloud-based services. Now, the growth of Zoom has slowed down as in-person meetings resume and schools/colleges reopen.
WhatsApp gets NPCI nod to extend payments service to 100 mn Indian users
With this approval, WhatsApp will now be able to expand the service to 100 million users out of more than 400 million in the country. In November last year, the NPCI approved increasing the user cap for WhatsApp's payment service from the current 20 million to 40 million users.
India may see less MSP procurement as wheat exports could increase: US report
The US Department of Agriculture's 'Grain and Feed Annual - 2022' report for India, released late on Tuesday night (India time) dwells on market possibilities, sowing area, and record productions. Pointing out that India is heading for a record wheat harvest this marketing year (MY), it said the Foreign Agricultural Service, New Delhi forecasts MY 2022/2023 wheat production at a record 110 from 30.9 million hectares, and up from last year's record 109.6 MMT from 31.1 million hectares.
Q4 Results: Infosys reports highest annual growth in last decade
An official communication stated on Wednesday that the growth was broad-based, supported by continued momentum in large deal wins with a TCV of $9.5 billion. Infosys had reported a profit of Rs 5,076 crore in the corresponding quarter of the previous year. The company delivered $16.3 billion in revenues with the highest annual growth in the last decade of 19.7 per cent in constant currency with a robust operating margin of 23 per cent.
India's March merchandise exports rise over 19%, imports 24%
Exports during March 2021 stood at $35.26 billion. "Non-petroleum and non-gems & jewellery exports in March 2022 were $30.67 billion, registering a positive growth of 9.4 per cent over non-petroleum and non-gems & jewellery exports of $28.03 billion in March 2021 and a positive growth of 80.90 per cent over non-petroleum and non-gems & jewellery exports of $16.95 billion in March 2020," the Union Ministry of Commerce and Industry said.
Govt should purchase only indigenous products: NITI Aayog Member
He also said Prime Minister Narendra Modi's push for indigenous products is going to change the electronics manufacturing scenario in the country. During an interaction with IANS, Saraswat said that the government should create a market for Indian manufacturers by making a policy that it will only purchase indigenous products.
Economic crisis: India may help Sri Lanka with $2bn more
Last week, Ministry of External Affairs spokesperson Arindam Bagchi said: "We are neighbours and a close friend. There has been an evolving economic situation as well as other developments. To help mitigate the economic situation there, we have extended assistance -- $2.5 billion, in the past two to three months, including credit facilities for fuel and food which are most required."
Bharat Dynamics, NDTV, Adani Green among outperformers in Q12022, Kaiser Corp top mover
Bharat Dynamics, NDTV, Kiran Syntex, Adani Green Energy, Adani Wilmar, Kaiser Corporation, BLS Infotech, Khoobsurat, and Madhusudhan Securities are some of the stocks that helped their respective investors accumulate hefty returns. Out of these mentioned stocks, Kaiser Corporation rose a whopping 2,651 per cent so far in 2022.
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