BUSINESS
India likely to defer import curbs on PC, laptop manufacturers by 9-12 months
The move is set to be a breather for companies like HP, Apple, Dell, Lenovo and others who rely on imports to meet the surge in demand in the country for their PCs, laptops and tablets, especially in the festive season ahead.
FIIs selling to the tune of Rs 16,934 cr in Sep
The spike in the dollar index to 105.52 and the US 10-year bond yield shooting up to a 16-year high of 4.5 per cent are negative for equity markets, particularly emerging markets, he added.
Economic outlook remains bright in current fiscal as activity maintained momentum: FinMin document
The monthly economic review released by the finance ministry on Friday stated that the monsoon deficit of August has been partially plugged in September and that is good news.
SEBI eases borrowing norms for large corporates
The SEBI Board raised the monetary threshold to define large corporates, and removed the penalty for not meeting the mandate of raising at least 25 per cent of incremental borrowings for a financial year through the capital markets.
RBI proposes 6-month deadline for banks to identify wilful defaulters
The RBI identifies 'wilful defaulters' as those who have the ability to pay a bank's dues but do not or divert bank funds. The RBI did not earlier have a specific timeline within which such borrowers had to be identified.
Tesla exploring to build battery storage factory in India: Report
According to a report in Reuters, citing sources, the electric car-maker proposed supporting the country's battery storage capabilities with its “Powerwall" during recent meetings.
India continues to help SL’s crippled railway, completes projects worth over $1bn
Continuing its support to the crisis hit neighbour, India on Thursday signed an agreement to install signaling system for 66 km railway track from North Central city of Anuradhapura to North-Western province’s Mahoat a cost of nearly $15 million.
Pakistan will have the highest inflation rate in Asia
The Asia Development Outlook, the flagship publication of the Asian Development Bank (ADB), has slightly revised downward the economic growth forecast to 1.9 per cent, but it has significantly increased the inflation projection to 25 per cent for the current fiscal year, The Express Tribune reported.
GenAI to generate economic value worth $2.6-$4.4 trillion annually: Report
Emerging GenAI use cases will drive productivity, growth for tech services players with reimagined service offerings over next 5 years, according to the report by Nasscom in association with McKinsey & Company.
Cisco to acquire cybersecurity leader Splunk for $28 bn in GenAI era
Upon close of the acquisition, Splunk’s CEO, Gary Steele, will join Cisco’s Executive Leadership Team, reporting to Cisco Chairman and CEO Chuck Robbins.
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