BUSINESS
Centre selects 20 Cos under auto PLI scheme
Last year, the Centre had approved the PLI scheme for enhancing the country's manufacturing capabilities for 'Advanced Automotive Technology' (AAT) products with a budgetary outlay of Rs 25,938 crore. The AATs based vehicles include types that are capable of running on hydrogen and electricity. Accordingly, the scheme proposes financial incentives to boost domestic manufacturing of AAT products and attract investments in the automotive manufacturing value chain.
Conmen made $1.3 bn via romance scams in 5 years, crypto biggest lure
According to the US Federal Trade Commission (FTC), the numbers have skyrocketed in recent years, and 2021 was no exception as reported losses hit a record $547 million for the year. "That's more than six times the reported losses in 2017 and a nearly 80 per cent increase compared to 2020. The median individual reported loss in 2021 was $2,400," the FTC said in a statement on Thursday.
India's forex reserves rises over $2 bn
The Reserve Bank of India's forex reserves increased to $631.953 billion from $629.755 billion reported for January 28. The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
Lower manufacturing eases India's Dec 2021 industrial production sequentially, YoY
The Index of Industrial Production (IIP) for December 2021 rose by only 0.4 per cent from a rise of 1.34 per cent reported for November 2021. Similarly, the production rate was lower on a year-on-year basis. In December 2020, the IIP had risen by 2.2 per cent.
Crypto firm Binance to take $200 million stake in Forbes
Forbes, known for its ranking of billionaires, said the deal would help make it a leader supplying information about digital assets, like Bitcoin. But news of the investment sparked questions among media watchers about potential conflicts of interest, the report said. Binance sued Forbes in 2020 for defamation, later dropping the case.
India's Dec 2021 industrial production eases sequentially, YoY
The Index of Industrial Production (IIP) for December 2021 rose by only 0.4 per cent from a rise of 1.34 per cent reported for November 2021. Similarly, the production rate was lower on a year-on-year basis. In December 2020, the IIP had risen by 2.2 per cent.
Tata Sons Board renews Chandrasekaran's term as Executive Chairman
The decision took place during a board meeting held on Friday. Accordingly, the Board reviewed the last five years' performance of the group and considered the reappointment of Chandrasekaran. In a statement, Tata Sons said that Ratan N. Tata, who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran.
Equities settle sharply low on global cues; Nifty IT, realty among losers
On Friday, Sensex settled at 58,153 points, down 1.3 per cent or 773 points, whereas Nifty settled at 17,375 points, down 1.3 per cent or 231 points. All the Nifty sectoral indices declined sharply on Friday, with Nifty IT, PSU Bank, and realty declining the most, exchange data showed.
EU economy should be back on track after winter slowdown: Official
"The EU as a whole reached its pre-pandemic level of GDP in the third quarter of 2021 and all Member States are projected to have passed this milestone by the end of 2022," said a statement on the forecast.The EU's economy grew by 5.3 per cent in 2021.
Review of 'serious allegations' on, trust the Board: New BharatPe CEO
Assuring them to have a "trust" in the Board, Suhail said that it is his "commitment, also on behalf of the wider leadership, that we'll emerge stronger from all this". He said the company will set up a town-hall meeting towards the end of this month to "share updates about governance review" and other announcements.
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