BUSINESS
India placed 7th on standardisation by Global Quality Infrastructure Index
India has been placed at 7th position on standardisation aspect, 9th for accreditation activities and 19th for the metrology related activities, by the Global Quality Infrastructure Index (GQII), a study conducted by the German government, an official statement said on Wednesday. Apart from these rankings, India scored 95.6 out of 100 and is ranked at 10th place in the world for overall quality infrastructure environment in the country in the GQII brought out by the German Federal Ministry for Economic Affairs.
Air travel to get costlier as jet fuel prices rise further
In the national capital, the price of jet fuel was raised to Rs 90,519.79 per kilolitre from Rs 86,038.16 per kilolitre. In the other metro cities of Kolkata, Mumbai and Chennai, the price was increased to Rs 94,888.70, Rs 88,987.20 and Rs 93,371.18 per kilolitre, respectively. The hike is expected to impact aviation companies' finances that are under huge stress amid high debt.
Yes Bank co founder Rana Kapoor, two others granted bail
Additional Sessions Judge M.G. Deshpande granted them bail. Senior advocate Mahesh Jethmalani appeared for Thapar and Sandeep Kapur for Hariharan. The case pertains to criminal conspiracy for obtaining illegal gratification to the tune of Rs 307 crore by Rana Kapoor, the then MD & CEO of Yes Bank Ltd by acquiring a property located at New Delhi's Amrita Shergill Marg at a price of Rs 378 crore against the alleged declared value of Rs 685 crore.
Now ED lodges money laundering case against ABG Shipyards
The case was lodged on the basis of the FIR filed by the CBI on the State Bank of India's complaint against the company and its directors for cheating a consortium of banks to the tune of Rs 22,842 crore. The ED had asked the CBI to hand them over the relevant documents connected to the case, and initiated its probe into the matter. After conducting a preliminary probe and taking legal opinion, the ED decided to lodge a PMLA case.
Indonesia to promote local currency settlement in G20 meeting
Indrawati said she will raise the issue about the LCS scheme during the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting scheduled for February 17-18, Xinhua news agency reported. "If the LCS can be implemented at a wider global level, this could create a financial safety net among countries and could reduce the risks caused by the global economic and financial instability," Indrawati told a seminar ahead of the FMCBG meeting.
Israel's GDP grows 8.1% in 2021, highest since 2000: Report
The country's GDP increased by 3.6 per cent in 2019, and decreased by 2.2 per cent in 2020 due to the Covid-19 pandemic, Xinhua news agency reported. In October-December 2021, there was an annualised 16.6 per cent surge in Israel's GDP compared to the third quarter, the highest figure ever in the fourth quarter.
ED attaches property worth Rs 354.25 cr in coal block scam
The Enforcement Directorate (ED) on Wednesday said that they have provisionally attached immovable properties worth Rs 354.25 crore in connection with a money laundering case pertaining to coal block allocation scam involving Ramsarup Lohh Udyog Ltd. The ED initiated money laundering investigation on the basis of the FIR registered by the CBI against the company and its Promoter-Director.
Record food grains production of 316.06 mn tonnes estimated
Record food grains production of 316.06 million tonnes (MT) is estimated, as per the Second Advance Estimates of production of major crops for 2021-22, released by the Agriculture and Farmers Welfare Ministry on Wednesday. This is higher by 5.32 million tonnes than production of food grain during 2020-21 and the production during 2021-22 is higher by 25.35 million tonnes than the previous five years' (2016-17 to 2020-21) average production of food grains, a Ministry statement said.
FY22 current account deficit faces mild upside risk: Acuite Ratings
The wider merchandise trade deficits pulled India's Q2FY22 current account into the negative territory. The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter.On Tuesday, official data showed that the country's merchandise trade deficit widened by 20.23 per cent on a year-on-year basis to $17.42 billion in January 2022 from $14.49 billion in the like period of 2021.
Economic activity gaining strength, job landscape to improve: RBI Bulletin
It also said that domestic macroeconomic conditions are striking a different path than global developments."In India, the recovery in economic activity is gaining strength and traction as it emerges from the third wave. Both manufacturing and services remain in expansion with optimism on demand parameters and uptick in consumer and business confidence," the bulletin said.
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