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BUSINESS
Union Budget 2023 might be presented in new Parliament building
According to sources, the construction work for the new Parliament House is almost complete and is expected to be ready by the end of January. Therefore, preparations have also started for the upcoming Budget session to be held at the new Parliament building.
Global PC shipments fell 28% in Q4 of 2022: Report
According to Counterpoint Research, the macroeconomic headwinds, increasing inflation pressure, and frozen PC demand affected the global PC market in 2022. Lenovo continued to lead the market in Q4 2022 but with a flattish 23.7 per cent share. Its shipments declined 17 per cent (year on year) in 2022 to take a 23.7 per cent market share.
Indian startups hail SC ruling on Google-CCI case
Google had moved the apex court after the setback at the NCLAT, which did not stay the CCI order on abuse of dominant position in multiple markets in the Android mobile device ecosystem case. Rohan Verma, CEO and ED at homegrown MapmyIndia said that they are extremely grateful to the Supreme Court for their order against Google's appeal.
Indigo tops with 54.9% market share, Vistara, Air India second with 9.2%
As per the latest data of December of aviation regulator DGCA, Indigo carried 69.97 lakh air passengers during the month while Vistara and Air India carried 11.70 lakh and 11.71 lakh air passengers. Go Air, with 9.51 lakh air passengers, had a market share of 7.5 per cent during December.
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Elon Musk to lay off more Twitter employees
About 50 employees in the company's product organisation are set to be let go in the coming weeks, reports Business Insider, citing sources. Hundreds of workers in Twitter's advertising, trust and safety, and monetisation departments were laid off two weeks ago, and layoffs in Singapore and Australia occurred just last week.
US becomes largest export market for Indian gold jewellery
According to WGC, the US became the largest market for Indian gold jewellery due to additional tariffs on Chinese jewellery to the US, which made the Indian exporters more competitive. Secondly, the UAE's implementation of a 5 per cent import duty in 2017 and 5 per cent Value Added Tax (VAT) in 2018 have negatively impacted its competitiveness.
PhonePe raises $350 mn at $12 billion valuation
Marquee global and Indian investors also participated in the round. The investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
Samsung eyes 75% sales from 5G smartphones in India this year
"We will not only launch more 5G smartphones but also ensure wider distribution of our 5G smartphones in the country with the objective of securing 75 per cent sales from 5G devices this year," Raju Pullan, Senior Vice President, Mobile Business, Samsung India, told IANS.
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Cryptocurrency broker Genesis expected to file for bankruptcy
It would make the firm the latest crypto casualty following the spectacular downfall of Sam Bankman-Fried's FTX, where the company held some of its funds, Daily Mail reported. According to people familiar with the matter, Genesis is currently in the final stage of its Chapter 11 paperwork as it works toward a deal with creditors, Daily Mail reported.
Domestic air traffic continues to rise, records annual growth of nearly 47%
As per the data released by the aviation regulator DGCA on Thursday, nearly 1.27 crore passengers were carried by the domestic airlines during December in the country as against 1.12 crore during the same period last year. The passenger load factor or occupancy of the airlines remained on the higher side in the range of 80 to 90 per cent.
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