BUSINESS
'This Budget forward looking, has vision for India at 100': Nirmala Sitharaman
Replying to the general discussion on the General Budget 2022-23, she said that stable and sustainable recovery was one of the motives for this Budget and highlighted the importance of emphasizing digital technology in governance that will help in transparency in governance beyond easing the process for the common man.
US inflation hits fresh record in nearly 4 decades
The consumer price index (CPI) last month rose 0.6 per cent from the previous month and 7.5 per cent from a year earlier, the largest 12-month increase since June 1982, according to the Department's Bureau of Labour Statistics. The latest data marked a new high after the CPI in December rose 0.5 per cent from the previous month and 7.0 per cent from a year earlier, reports Xinhua news agency.
Biden allocates $5bn for EV charging network amid China threat
The US Congress has approved $7.5 billion for EV charging infrastructure as part of the bipartisan infrastructure law, $5 billion of which will be available to states to create a "network of EV charging stations along designated Alternative Fuel Corridors, particularly along the Interstate Highway System", the administration said late on Thursday.
Equities trade negative in early trade; Sensex, Nifty slip over 1%
Friday's decline is evidently due to profit booking. At 9.40 a.m., Sensex traded at 58,269 points, down 1.1 percent or 657 points from the previous close, Nifty traded at 17,398 points, down 1.2 percent or 207 points from the previous close. Among stocks, Infosys, Tech Mahindra, Wipro, Titan, and Bajaj Finance were the top five losers in the early trade, NSE data showed.
Karan Adani meets Mamata Banerjee, discusses investments
The meeting comes soon after Gautam Adani had met Banerjee. Senior state government officers, including Chief Secretary H.K. Dwivedi were present at Thursday's meeting. The meeting, prior to the state government's annual global business meet, is significant because sources in the CMO said that the duo had discussions regarding the construction of the proposed deep-sea port at Tajpur.
Thums Up puts 'Thunder' into Coke India's performance, becomes $1 bn brand
As per the Coca-Cola company's global 'Fourth Quarter and Full-Year 2021' results, the cola brand has put the "Thunder" back into Coke India's performance. The brand was introduced in India at the time of Coke's departure from the country in 1977. It was bought by Coca-Cola India in 1993 after it made the re-entry into the country post economic liberalization.
Hero MotoCorp's standalone Q3FY22 net profit down 36.71%
The company's standalone net profit during the period under review fell to Rs 686 crore from Rs 1,084 crore reported for Q3FY21. Besides, the company's consolidated PAT for the quarter decreased to Rs 704 crore from Rs 1,708 crore during the corresponding period of FY21.
Growth Oriented: RBI's MPC retains rates, accommodative stance
The MPC of the central bank maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent. Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the 'Bank Rate' at 4.25 per cent.
CAIT urges Centre to withdraw 12% GST rate on textiles
In the GST Council meeting in late 2021, it was unanimously decided to defer the hike in tax rate on textiles from 5 per cent to 12 per cent and the matter was sent to the tax rate rationalisation committee which will submit its report by February. Currently, the textiles sector is being taxed at 5 per cent tax rate, the traders' body said.
China faces Covid blues as Lunar New Year sales fall
Stringent Covid-19 induced restrictions created confusion among people forcing them to opt for short distance trips. Just ahead of the festive week, several local authorities imposed travel restrictions which included mandatory quarantines. This has not only impacted consumption around this otherwise busy time of the year but has also had an impact on the country's tourism sector.
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