Trade

The investment, said the company, will enable it to accelerate its plans to attain leadership in the smartwatches category, scale up its business both within and outside India and further strengthen its R&D and design capabilities.

In the third quarter (Q3), Meta's revenue declined 4 per cent year over year to hit $27.7 billion. The company posted a net income of $4.395 billion, down from $9.194 billion year over year. This decline is owing to Meta's huge losses in Reality Labs, Meta's virtual reality division, which lost $3.672 billion in Q3.

With new funds, Flipkart's valuation is set to soar to more than $40 billion, giving a fillip to the Indian funding scene which is going through a harsh winter. Flipkart Group in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India. The investment valued the group at $37.6 billion post the money then.

The chipmaker's third-quarter net income was 1.1 trillion won ($769.4 million), down 66.7 percent from a year earlier, according to a regulatory filing. Operating profit for the three months ending in September came to 1.65 trillion won, compared with 4.17 trillion won a year ago. Sales fell 7 percent to 10.98 trillion won.

Imports plummeted by 15.7 per cent in this period to $180 billion, First Deputy Head of Russia's Federal Customs Service Ruslan Davydov told a press conference. This led to "a record" trade surplus of $251 billion, almost doubling from the number in the first nine months of 2021, he was quoted as saying by Xinhua news agency. Russia's foreign trade turnover amounted to $611 billion in the first three quarters, up 9.6 per cent year on year, Davydov added.