BUSINESS
Amazon shuts over 60 retail stores, to focus on grocery & fashion shops
Amazon has announced to shut down most of its brick-and-mortar storefronts, including Amazon Books, across the US and the UK, as the e-commerce giant aims to shift its focus on opening more fashion and grocery stores.
Sunflower seeds import from Ukraine affected, domestic market banks on mustard
There is some uncertainty and prices of some of the edible oils have gone up by $200 in the international market. India imports sunflower seeds from Ukraine as imports are relatively cheaper even when India's sunflower seed production ranges between 60,000-75,000 tonnes. With a view to keep prices in check and also check the rise in prices of domestic edible oils due globally hike.
Indian equities trade positive in opening session
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- rose marginally in the opening session on Thursday possibly due to some value buying after the recent decline in the indices. India's key indices -- S&P BSE Sensex and NSE Nifty50 -- rose marginally in the opening session on Thursday possibly due to some value buying after the recent decline in the indices.
Vedanta board approves third interim dividend for FY22
Multinational mining company Vedanta's Board on Wednesday approved the third interim dividend of Rs 13 per equity share for the financial year FY22.It would cost the company around Rs 4,832 crore, it said in a regulatory filing to the exchanges.Since the start of 2022, the shares rose around 10 per cent, exchange data showed.
Sanctions against Russia could stall Europe's economic growth
The war in Ukraine and the ensuing sanctions against Russia could harm Europes energy supplies and stall its economic growth, European Commissioner for Economy, Paolo Gentiloni, warned on Wednesday. Speaking at a press conference in Brussels, he said Europe may encounter problems in the supply of energy resources more precisely, the supply of Russian gas and needs to be ready for such an outcome.
India bans Sea Ltd's Free Fire, ripple effect felt in Chinese stock market
Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market. Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market.
Oil India shares surge 10% as global crude prices touch multi-year high
Shares of state-run Oil India jumped nearly 10 per cent on Wednesday due to skyrocketing global crude oil prices. Lower supplies as well as hostilities between Russia and Ukraine pushed Brent crude oil price to nearly an 8-year high at $111 per barrel. In just the last two days, crude prices have risen nearly 15 per cent. At present, Russia is the third largest producer of crude oil in the world and sanctions against Russia may hurt global supply.
Russian giant Severstal stops delivery of steel to Europe
Russian metallurgical giant Severstal has stopped deliveries of steel to European customers amid Ukraine-related sanctions, the country's media reported citing company sources, RT reported. According to reports, the cessation follows the refusal of European customers to purchase Severstal steel after the EU sanctioned the company's main shareholder, Alexei Mordashov.
India's Feb 2022 exports up 22%, imports rise 35%
India's merchandise exports in February 2022 rose to $33.81 billion, higher by 22.36 per cent on a year-on-year basis, preliminary data showed on Wednesday. Exports in February 2021 stood at $27.63 billion. According to the data furnished by the Commerce and Industry Ministry, last month's exports rose by 21.88 per cent over February 2020.
Can Ukraine crisis hit manufacture, exports of Russia's Sputnik vaccine?
The economic sanctions imposed by the US on Russia amid ongoing conflict with Ukraine are expected to slow down the production of Russia's Sputnik vaccines in India. The economic sanctions imposed by the US on Russia amid ongoing conflict with Ukraine are expected to slow down the production of Russia's Sputnik vaccines in India.
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