BUSINESS
Ukraine conflict, climate action play major role in Canada's 2022 budget
The budget she tabled on Thursday includes more than $6.4 billion in new funding over five years to better equip the Canadian Armed Forces; increase Canada's contributions to the North Atlantic Treaty Organization (NATO) and the North American Aerospace Defense Command (NORAD); and reinforce Canada's cyber-security strategy to prevent and defend against attacks, including those against government agencies and critical infrastructure.
Shares of HDFC twins erase entire post-merger gains
In a major development on Monday, housing loan firm Housing Development Finance Corporation (HDFC) on Monday approved the merger of its wholly-owned subsidiaries HDFC Investments and HDFC Holdings with the HDFC Bank. On the same day, both the shares rose nearly 10 per cent each. From Tuesday to Thursday, they erased entire Monday's gains and reached the pre-merger levels.
In Elite Club: M3M India's Basant Bansal enters Hurun Real Estate Rich List 2021
With 75 per cent growth in wealth, Basant Bansal and family gained eight spots and to be ranked seventh in the list. Basant Bansal and family also ranked first in Gurugram and second in Delhi, as per city-wise ranking. Known for premium and luxury housing projects, M3M India's Basant Bansal has also been ranked fourth in the categories of 'Top Property Developers with a focus on Premium Housing', and 'Top Residential Property Developers in India'.
Taiwan's Hong Fu group to invest Rs 1,000 cr in TN for footwear factory
In a statement issued here, the government said the Hong Fu group, which makes sports shoe brands like Nike, Puma, Converse, Vans and others, has signed an MoU to set up a footwear manufacturing facility and is scouting for a place to locate its factory.
BharatPe hits back at Ashneer, says registered 4X sales growth in Q1 2022
"On a sequential-quarter basis, the growth has been 30 per cent, despite the third wave of Covid-19," a BharatPe spokesperson told IANS. "Comparing month-on-month, all our metrics have grown at the fastest pace -- merchant total payments value (TPV) (17 per cent), consumer TPV (39 per cent), loans facilitated (31 per cent), and revenue (21 per cent) in March over February," the spokesperson informed.
Meta planning 'Zuck Bucks' digital currency as crypto dream fails
According to a report in The Financial Times citing sources, Facebook's financial arm called 'Meta Financial Technologies' is exploring a virtual currency for metaverse, dubbed "Zuck Bucks". "The company is seeking alternative revenue streams and new features that can attract and retain users, as popularity falls for its main social networking products such as Facebook and Instagram -- a trend that threatens its $118 bn-a-year ad-based business model,"
'Challenges in increasing supply will likely keep electricity prices high'
Traditionally, electricity demand in India peaks during the warmer months of April to August, subject to weather patterns. "We expect monthly electricity demand in 2022 to peak at around 132 billion kWh, 15 per cent higher than the average monthly demand in 1Q22, similar to 2021 and 2019 when peak monthly demand was 15 per cent and 19 per cent higher, respectively, than average monthly demand in 1Q21," the credit rating agency said.
Indian equities settle low, MPC outcome in focus
Sensex settled at 59,034.95 points, down 575.46 points or 0.97 per cent, whereas Nifty at 17,639.55 points, down 168.10 points or 0.94 per cent. For fresh cues, the outcome of the Reserve Bank of India's upcoming Monetary Committee Policy (MPC) meeting, which is expected to be revealed on Friday morning, would be eyed by the investors.
Indian digital consumers become more protective about personal data
The trend has been captured in the backdrop of the post-pandemic era, which has increasingly seen a rise in digital consumption across segments including grocery, fashion, health and beauty, consumer electronics travel, sports and fitness, crafts and creative and alcoholic beverages. "Seventy-five per cent of the Indian consumers (59 per cent globally) are evolved and are more aware and protective of their personal data," said Somick Goswami, Partner at PwC during the India D2C (direct-to-consumer) summit here.
Righteous GST implementation to bolster online skill gaming sector in India
India's share is currently at 1-2 per cent of the global gaming market with a market size of $1.8 billion of which Real-Money gaming has the largest constituent of revenue pool driven by higher user paying propensity (around 20 per cent of total market size). The total number of users of gaming services are close to 433 million and is expected to touch 650 million by 2025. However, apart from fine-tuning the regulatory mechanism, there's an urgent need to look at the GST levied on the sector.
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