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Tech layoffs, economic slowdown hamper office space demand in India
IANS -
Leasing by flex space operators in Q1 2023 inched closer to that of technology companies for the first time ever, according to the report by Colliers India. Flex space occupiers leased 2.1 million square feet of space, accounting for 20 per cent, a little behind the technology sector's share at 22 per cent.
Real estate sector worried about further increase in repo rate
IANS -
"Over the past three quarters, the interest rate on home loans has risen to over 9 per cent, representing a 40-50 per cent increase from the historical low of 6.5 per cent per annum. As a result, many home loan borrowers are feeling the impact of this significant increase in interest rates," Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd said.
Fourth quarter of 2022-23 sees lowest IPO fundraising in 9 years
IANS -
According to Pranav Haldea, Managing Director, Prime Database Group, as many as 25 out of the 37 IPOs came in just three months of the year (May, November and December), which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity.
India's PC, tablet market grew 5% to reach 19.6 million units in 2022
IANS -
While notebook shipments fell by 7 per cent to 11 million units, desktop and tablet shipments increased significantly by 37 per cent and 21 per cent to 3.2 million and 5.4 million units respectively, in 2022, reports market research firm Canalys. HP led the Indian PC (excluding tablets) market, with more than 30 per cent market share in both Q4 and full-year 2022. Lenovo took the second place but suffered a large shipment decline of 31 per cent in Q4 of 2022.
India's tech SME sector revenue to reach $40 billion by FY30: Report
IANS -
With growing tech demand, the tech SME sector is expected to contribute 7-9 per cent to the overall FY23E tech industry revenue at $15-$20 billion, higher than the pre-pandemic share of the tech industry at 4-6 per cent. In terms of headcount, the Indian tech SME sector is estimated to close FY23 with 740,000 employees, with hiring for digital skills growing 2 times faster than traditional tech talent in FY20, according to the report by Nasscom, in collaboration with ProHance.
'Life insurers to cut costs to grow under new tax regime'
IANS -
According to the report authored by sectoral experts Avinash Singh and Mahek Shah, the life insurers for a long period of time have been selling their policies on one or more 'E' of EEE - Exempt, Exempt and Exempt- tax treatment (premium and proceeds are tax exempt).
Global financial stability at risk from banking turmoil: IMF chief
IANS -
Georgieva said rising interest rates had put pressure on debts, leading to "stresses" in leading economies, including among lenders, the Guardian reported. She said the world economy would expand by just 3 per cent in this year as rising borrowing costs, combined with the war in Ukraine and scarring from the Covid-19 pandemic, would suffocate growth.
Finance bill proposes hike in securities transaction tax on options & futures trading
IANS -
This will lead to those trading in futures and options (F&O) paying higher STT. In a way, the move is likely to discourage F&O traders, as government aims to tax them more since turnover is high in such transactions.
Cement Cos. may hike price in April, fuel costs go down
IANS -
Based on the interaction with the channel partners, MOFS said the cement manufacturers may announce discounts/schemes to meet their year end volume target. In a research report, MOFS said the cement companies may hike their prices early April, 2023. The cement players attempted price hikes in Feb-Mar'23; however, a significant portion of the hikes was reversed by offering discounts, incentives and price cuts.
S&P Global Ratings to answer questions on Adani Group
IANS -
In a statement issued, S&P Global said investors seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. "Like much of the market, we are waiting for more information about the Adani Group before deciding the direction of our ratings. We believe further details on governance and funding risks over the next 12-24 months would drive the ratings," said Credit Analyst Abhishek Dangra.
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