BUSINESS
Centre has room to isolate consumers from 15% hike in crude prices: MOFSl
According to the brokerage house's estimates, the Centre has the financial capacity to take the hit on its own income statement without breaching the fiscal deficit targets. "Considering our revised crude oil prices forecasts of $80 per bbl in FY23 (from $70 per bbl earlier), if the GoI decides to take the entire burden, it would cost $12-13 billion (or 0.4 per cent of GDP) next year," the brokerage house said in a report.
Global smartphone display panel market reaches $46 bn in 2021
OLED display panels saw increased adoption in the supply chains of leading smartphone OEMs (original equipment manufacturers), according to Strategy Analytics. "We note more than 600 million OLED panels for smartphones were shipped to OEMs," said senior analyst Jeffrey Mathews. The smartphone display panel recorded more than 5 per cent annual revenue growth.
Govt preparing to auction 5G spectrum services this year
Minister of State for Communications Devusinh Chauhan said a Committee of Secretaries of various ministries discussed the spectrum allocation among various users in the context of spectrum needs of emerging technologies/users (5G/IMT) and recommended the spectrum allocation in relevant key bands.
SEBI proposes to reduce timelines for share buy backs, open offers
The regulator has proposed changes to various procedural activities involved in the 'buy back' tender offers which would help reduce the overall time required in the 'open offer' process from 43 working days to 36 working days. Besides, other proposed amendments would help reduce the overall time required in the 'open offer' process from the existing timeline of 62 working days to proposed timeline of 42 working days.
Emirates to reinstate pre-pandemic flight frequency to India
The airline will be operating 170 weekly flights to nine cities in the country, including 35 weekly flights to Mumbai, 28 to New Delhi, 24 to Bengaluru and 21 to Chennai amongst others. "The move comes on the back of the decision by the Indian government to restore international flights to and from the country in line with established bilateral agreements from the end of March 2022," the airline said in a statement.
BMW India to increase prices from April 2022
Luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 per cent across its model range effective from April 1. The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates. Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in price of its entire model range effective from April 1.
Corporate tax reduction helped economy: FM
Replying to the debate on the Finance Bill, the minister told the Lok Sabha that corporate tax collections stood at Rs 7.3 lakh crore so far this fiscal. Besides, Sitharaman pointed out that the Central government did not increase taxes last year or this year. She cited that 32 countries like Germany, France, Canada, UK among others increased taxes.
Akasa Air plans to launch first flight in June
India's newest budget airline Akasa Air plans to launch its first commercial flight in June. The airline's chief executive Vijay Dube said on Friday that they are working with the Ministry of Civil Aviation (MoCA) and Directorate General of Civil Aviation (DGCA) to get the required clearances for commencing the air operations.
Flavour of India's wheat must capture world's taste buds: Modi
Prime Minister Narendra Modi has said the flavour of India's wheat must capture the entire world's taste buds and help increase the country's wheat exports, the Rajya Sabha was informed on Friday. Union Minister for Commerce and Industry, Piyush Goyal informed this while replying to the supplementary question related to wheat export during the Question Hour. Goyal was responding to a question raised by Congress MP Anand Sharma.
China seeks bumper wheat harvest amid fears of global food crisis
The notice, coming at a time when the protracted Russia-Ukraine conflict has stretched the global food supply ranging from corn and wheat to potash fertiliSers, and pushed their prices to record highs, highlighted the latest of a concrete effort from the Chinese government to secure the spring ploughing of staple grains and bumper harvest against the potential impact of geopolitical tensions.
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