BUSINESS
'MWC 2022' organisers ban Russian firms from tech show
Russia's participation at the 'MWC 2022' is being restricted by the organisers GSMA following the country's invasion of Ukraine. With airspaces being shut over certain parts of Europe, especially eastern, amid the ongoing Russia-Ukraine war, MWC 2022 is in a tight spot and may barely sail through. The 'MWC 2022' is scheduled to begin -- with a mix of in-person and virtual events -- in Barcelona on February 28 and will end on March 3.
India's 61,400 startups and 83 unicorns will boost realty: Pankaj Bansal
As per Orios Ventures Partners report, the Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year. The Indian government has also recognized 14,000 new startups in 2021. As on January 2022, India has 83 unicorns with a total valuation of $277 billion.
IMF Chief says repercussions of Ukraine situation pose 'significant economic risks'
The IMF Chief said she met earlier on Friday with IMF Executive Board to brief Executive Directors on the initial assessment of the unfolding situation, and as the situation in Ukraine evolves, the multilateral lender will continue to discuss with the authorities how it can best assist them, Xinhua news agency reported.
Russia-Ukraine war throws out Elon Musk from coveted $200 bn club
Musk was the second person, after Amazon founder Jeff Bezos, to reach the hallowed $200 billion mark. The Tesla CEO's net worth was roughly $199 billion while Bezos' net worth was around $176 billion, according to the Bloomberg Billionaires' index. Tesla's shares fell for the fifth-straight day to $700 late on Thursday, its lowest evaluation since August as the war erupted. It later rebounded to $768 a share.
India's forex reserves rises by over $2.7 bn to $632.952 bn
The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.496 billion to $567.060 billion. Similarly, the value of the country's gold reserves increased by $1.274 billion to $41.509 billion.
BharatPe investors not buying Ashneer Grover's stake for Rs 4,000 crore
Reliable sources told IANS on Friday that Grover has wrongly valued Delhi-based merchant payments and financial services provider at nearly $6 billion while its actual valuation, after it raised $370 million in Series E round led by Tiger Global, was $2.85 billion in August last year. The company then became a unicorn (with valuation of $1 billion and above).
Global smartphone revenue hits $450 billion in 2021
Smartphone average selling price (ASP) grew 12 per cent YoY to reach $322, mainly due to a higher share of 5G smartphones, which have a significantly higher ASP than the 4G models, as well as Apple's successful launch of its iPhone 13 devices, according to Counterpoint.
GDP growth likely to be around 8.3% in FY22: Brickwork Ratings
The ratings agency had earlier given a forecast of 8.5 to 9 per cent for FY22. In addition, there have been production constraints caused by a semiconductor shortage in electronic and automobile industries, along with supply shortages in coal and power outages causing a slowdown in the manufacturing sector."
Moody's raises India's GDP forecast from 7% to 9.5% for 2022, predicts 8.5% growth for FY23
“We have raised our 2022 calendar year growth forecast for India to 9.5 per cent from 7 per cent, and maintained our forecast for 5.5 per cent growth in 2023. This translates into 8.4 per cent and 6.5 per cent in fiscal years 2022-23 and 2023-24, respectively,” Moody’s said in a statement.
Indian equities rebound; Sensex closes up over 1,300 pts
Thursday's bloodbath in the financial markets was triggered after Russia announced a military operation in Ukraine. Reacting to the news, benchmark indices Sensex and Nifty fell 4.7-4.8 per cent. Coming to Friday, Sensex settled 2.4 per cent or 1,329 points up at 55,859 points, whereas Nifty 2.5 per cent or 410 points up at 16,658 points.
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