BUSINESS
Political upheaval in Pak raises significant uncertainty over policy continuity: Moody's
Commenting on the ouster of Imran Khan through a no-confidence vote and the subsequent confirmation of Shehbaz Sharif as the new PM until August 2023, Moody's said that "the political upheaval reflects the volatility that besets Pakistan's political environment and raises significant uncertainty over policy continuity, at a time when Pakistan is encumbered with surging inflation, widening current account deficits and declining foreign-exchange reserves".
Cash-strapped Sri Lanka rescued by India, Pak economy struggles sans foreign help
After the international rating agencies had predicted in January that Sri Lanka was on the verge of an economic crisis, Colombo asked Beijing to reschedule its huge Chinese debt burden. However, Beijing rejected the request and asked the island nation to "overcome the temporary difficulties" as soon as possible. Sri Lanka is under tremendous pressure to pay the debt back to China, which was used to build mega infrastructure projects.
India's March retail inflation at 17-month high of near 7%
The trend assumes significance as retail inflation rate remained well above the target range of the Reserve Bank of India, which has a CPI target range of 2 to 6 per cent. As per the NSO data, the rate of rise in the Consumer Food Price Index, which measures the changes in retail prices of food products, increased by 7.68 per cent last month from 5.85 per cent in February 2022 and 4.87 per cent in March 2021.
Industry hails TRAI recommendations to slash prime 5G spectrum base price
According to industry experts, the TRAI has mooted the concept of sharing of spectrum between the satellite and 5G industry in a harmonious manner. "These are one of the most holistic, far-sighted and balanced recommendations in the last 25 years of the Indian telecom industry," said T.V. Ramachandran, President of Broadband India Forum (BIF).
7 Reasons Why You Need to Get a Critical Illness Health Insurance
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HDFC entities merger can trigger spate of M&As in banking sector: Fitch
According to it, the merger between HDFC Bank and its shareholder HDFC may have long-term implications for the nation's banking and non-bank financial institution (NBFI) sectors. Besides, it said that the proposed merger could redefine the competitive landscape for banks, and increase the prominence of M&A among banks seeking to close the market-share gap with the merged HDFC Bank. "It could also influence the evolution of the NBFI sector, particularly for large entities that have nurtured banking ambitions amid tightening sector regulations," the agency said.
Equity indices decline for second straight day
For fresh cues, investors await inflation data for March which will be released later on Tuesday evening. The Sensex settled at 58,576 points, down 388 points or 0.66 per cent, whereas Nifty settled at 17,530 points, down 145 points or 0.82 per cent, from their previous close.
Adani Green shares up 5% as Co becomes 10th largest on BSE
On Tuesday, the shares of the company settled 5.1 per cent higher at Rs 2,800. Notably, the Adani Group company became the 10th largest firm on the Bombay Stock Exchange in terms of market capitalisation. Commonly referred to as market cap, market capitalisation is the aggregate valuation of the company based on its current share price and the total number of outstanding stocks.
Meta onboards Sequoia India to boost SMBs' growth
"Meta and Sequoia India are both working towards the common goal of unlocking more growth opportunities for small businesses in India," said Archana Vohra, Director, Small and Medium Businesses India at Meta. Meta's VC Brand Incubator Initiative was launched in 2019 as an industry-first initiative to boost the growth of startups.
Action against hoarders of edible oils, oilseeds to keep tab on price rise
Prices of cooking oil are on an upwards swing globally due to the Ukraine-Russia war. "The domestic prices of edible oils have been following the international suit and the prices have increased considerably over the past one month which may be attributed to the current geopolitical condition," officials said. Inspections have revealed very large hoardings of soybean and mustard seeds in Dewas, Shajapur and Guna districts of Madhya Pradesh.
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