BUSINESS
Intel acquiring Israeli chip maker Tower for $6 bn: Report
According to a report in the Wall Street Journal, citing people familiar with the matter, a deal could be unveiled as soon as this week, "assuming the talks don't fall apart". Tower Semiconductor develops chips for customers that don't have their own factories, at multiple factories in Israel, Italy and the US.
India, Italy discuss bilateral trade & investment agreements in Rome
Discussions also covered regional and global issues of mutual interest, including multilateral cooperation at various international fora. They reaffirmed their commitment to enhancing consultation and cooperation bilaterally and in regional and multilateral context.
Dutch competition regulator fines Apple another $5.6 mn
The Netherlands' competition watchdog has fined Apple another $5.6 million for failing to comply with its order on dating-app providers. The ACM said the revised conditions that Apple has imposed on dating-app providers are unreasonable, and create an unnecessary barrier. According to the competition regulator, in its revised conditions, Apple imposes a considerable number of conditions on dating-app providers that wish to use an alternative method of payment.
Airtel deploys Oracle Cloud to streamline supply chain
With the integrated Oracle Cloud ERP and Oracle Cloud SCM applications, Airtel will transform its shared services operations, which focus on driving productivity and agility across the company. "With Oracle Cloud Applications, Airtel will be able to leverage the latest technology and innovation to meet shifting customer expectations and revamp their business operations," said Shailender Kumar.
Global EV sales up 109% in 2021, Tesla leads with 14% share
The total global car market grew just 4 per cent in 2021 as it continued to struggle with Covid-19 restrictions and chip shortages, while EV sales represented 9 per cent of all passenger car sales last year, according to market research firm Canalys.
Jio Platforms to invest $200 mn in Glance
According to Jio, the proposed investment is aimed at accelerating Glance's launch in several key international markets outside of Asia such as the US, Brazil, Mexico and Russia. Notably, Glance is aiming to create the world's largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally.
Rising Costs: Jan inflation levels at elevated levels; CPI crosses 6%
Notably, high commodities cost especially of transport fuel prices triggered a wider inflationary trend. As a result, India's main inflation gauge -- Consumer Price Index (CPI) -- which denotes retail inflation surged on a sequential as well as year-on-year basis. The index rose to 6.01 per cent last month from 5.66 per cent in December 2021 and 4.06 per cent recorded for January 2021.
G20 finance ministers, central bank governors to meet in Jakarta
High-profile topics to be discussed in the first Finance Ministers and Central Bank Governors (FMCBG) meeting would be about inflation, policy normalization and digitalization to help G20 members recover their economy from the pandemic situation, Xinhua news agency quoted Perry Warjiyo, Governor of Bank Indonesia.
Adani Enterprises' attributable consolidated Q3FY22 net loss at Rs 12 cr
The company had posted a net profit of Rs 297 crore in Q3FY21. The company's total income increased to Rs 18,963 crore due to improved realisation on the back of higher index prices in the IRM segment.
Russia-Ukraine crisis boosts gold, crude oil prices
As global equity indices slid, commodities, including crude oil, surged as geopolitical risks over Ukraine rippled through global markets. The Brent-indexed Crude oil prices crossed $96 per barrel, the highest in seven years.
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