BUSINESS
World food prices in Feb at all-time high
The benchmark gauge for world food prices went up in February, reaching an all-time high, led by vegetable oils and dairy products, the UN's Food and Agriculture Organization (FAO) said. The FAO Food Price Index averaged 140.7 points in February, up 3.9 per cent from January, 20.7 per cent above its level a year earlier, and 3.1 points higher than reached in February 2011.
Microsoft acquires AI giant Nuance for $16 billion
Tech giant Microsoft has completed its $19.7 billion of Nuance, a company that specialises in artificial intelligence that also has a strong foothold in the medical industry. Microsoft initially announced its agreement to purchase Nuance for $19.7 billion back in April 2021. The deal has since gone through the required regulatory approvals, reports Windows Central.
India a priority market, says Amit Kothari, Regional Marketing & Communications Manager, South Asia, H&M
The spring season at H&M Home is all about colour, preparing for the brighter days ahead and creating springtime zen in your home. This Spring, it opens its doors to India by inviting light into living spaces with bright hues and playful shapes marking a new start for homes with optimism and joyfulness in focus.
Lenders of Reliance Naval staring at 90% to 95% haircut
Lenders of Reliance Naval and Engineering Ltd. (RNEL), which is undergoing debt resolution process under IBC, are set to face a haircut of whopping 90 per cent to 95 per cent, if the resolution plan of either of the two resolution applicants is accepted by them. The lenders are currently voting on the resolution plans of the two shortlisted resolution applicants, i.e., Hazel Mercantile-Swan Energy consortium and Navin Jindal led JSPL.
PayPal shuts down services in Russia
Payments company PayPal has announced that it is suspending its services in Russia in the wake of Ukraine invasion.Ukraine's vice prime minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Schulman, confirming the company's decision to shut down its operations in Russia. Visa and Mastercard have also announced to suspend all operations in the country in the wake of Ukraine invasion.
A 'bad precedent': BharatPe episode surprises startup capital Bengaluru
The BharatPe episode, which shocked the startup industry, has startled Bengaluru, known as the startup capital of India.The incident has also rang alarm bells among many startups, which are going easy on financial discipline. Industry insiders feel that while the investors want to double their money, founders of startups want to settle down as soon as they get investments, without even bothering to think about the future of the workforce.
With top dollars flowing in, Indian startups need to reset their moral compass
The Ashneer Grover-BharatPe tussle that hogged the limelight since January has brought to the fore the need to fix corporate governance while maintaining moral integrity at the very top in the burgeoning Indian startup ecosystem. The Ashneer Grover-BharatPe tussle that hogged the limelight since January has brought to the fore the need to fix corporate governance while maintaining moral integrity at the very top in the burgeoning Indian startup ecosystem.
Price shocks due to war in Ukraine will have impact worldwide: IMF
Energy and commodity prices-including wheat and other grains-have surged due to the war in Ukraine, adding to inflationary pressures from supply chain disruptions and the rebound from the Covid-19 pandemic, the IMF has said. Price shocks will have an impact worldwide, especially on poor households for whom food and fuel are a higher proportion of expenses.
Seesaw: Sharp FIIs outflow matched by DIIs' inflows
As per MOFSL report, FIIs continued to remain sellers in India as the global risk-off sentiment and the geopolitical situation have added to concerns of inflation, higher bond yields, and global rate hikes. "This has resulted in $14.1 billion of outflows from the Indian market since Oct'21. This has been offset by DII buying of $16 billion over the same period."
Gold Rush: Ukraine war to push global prices to $2k
Accordingly, the fears of supply shortages along with robust demand has kept prices higher. Besides, sanctions on Russia which is a major producer of Gold is expected to reduce supply. Last week, MCX gold prices increased sharply by 4.66 per cent to Rs 52,559 levels. Besides, 'Spot Gold' prices increased by 4.30 per cent to $1,970.35 per ounce.
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