BUSINESS
Govt imposes stock limits on oils, oilseeds till June 30
The Stock Limit Order, notified on February 3, empowers the Union Government and all states/UTs to regulate storage and distribution of edible oils and oilseeds. This would also help the government in checking hoarding of edible oils and oilseeds in the country, a statement from the Ministry of Consumer Affairs, Food & Public Distribution said on Wednesday.
Equities rise in early trade; majority of Nifty50 stocks in green
At 9.34 a.m., Sensex traded at 58,318 points, up 0.9 per cent or 510 points from the previous close of 57,809 points. It opened at 58,163 points. Nifty traded at 17,415 points, up 0.9 per cent or 148 points from the previous close of 17,267 points. It opened at 17,370 points.
Indian hospitality sector witnessed a 100.3 percent YoY RevPAR growth
The Revenue Per Available Room (RevPAR) witnessed a growth of 100.3 percent year-on-year (YoY) in Q4, 2021. The quarterly RevPAR of Q4 (October-December) was at 41.9 percent , according to JLL's Hotel Momentum India (HMI) Q4, 2021. The last quarter of 2021 (Q4 2021) also witnessed a significant increase in international arrivals as compared to the same time in the previous year.
EU presents 15bn-euro plan to ease semiconductor chip shortage, dependency
The European Commission will "enable 15 billion euros ($17.11 billion) in additional public and private investment until 2030" in semiconductor production, senior EU officials said in Brussels on Tuesday as they presented the Commission's "European Chips Act". "Without chips, no digital transition, green transition, technological leadership," said Thierry Breton, European Commissioner for the internal market.
Bangladesh sees 6.94% economic growth in 2020-21 fiscal year
Bangladeshi Planning Minister, M.A. Mannan on Tuesday announced the gross domestic product (GDP) data released by the Bangladesh Bureau of Statistics. He told a press conference that the economic growth exceeded the government's provisional estimate of 5.43 per cent for the last fiscal year, Xinhua news agency reported.
Pfizer 2022 guidance comes shy of expectations despite strong growth projection
Pfizer expects to realise $98-102 billion of revenues in 2022 and the mid-point of the guidance range represents a 23-per cent growth from that in 2021. Pfizer would have $103.2 billion of revenues of consensus estimate, according to market information supplier FactSet. Pfizer raised its forecast on revenues from Covid-19 vaccine in 2022 by $1 billion to $32 billion, which is still lower than FactSet consensus estimate of $34.8 billion and $33.79 billion of consensus forecast.
US trade deficit hits record high in 2021
US imports rose by 20.5 percent to $3.39 trillion in 2021 while exports climbed by 18.5% to $2.53 trillion, according to the department. The trade gap represented 3.7% of US gross domestic product in 2021, up from 3.2% in 2020, Xinhua news agency reported. "A surge in imports to fuel domestic demand for goods caused the trade deficit in goods and services to widen 27% in 2021 and reach its largest annual deficit on record".
No manufacturing in India, no tax relief, says Govt on Tesla
"We can't grant subsidies or relaxation in taxes to the said company as they don't want to set-up their manufacturing and other operation bases here. Why should we favour a company which creates jobs in China and mints profit from our markets? Our Prime Minister has a vision for all such foreign companies, if you want to sell your product in our country, then manufacture them here only," Minister of State for Heavy Industries Krishna Pal Gujjar told the Lok Sabha.
IRCTC's Q3FY22 net profit from continuing ops at over Rs 208 cr
The 'Mini Ratna' Central Public Sector Enterprise's net profit from continuing operations rose to Rs 208.80 crore during the quarter under review from Rs 78.08 crore in corresponding period of the previous fiscal.
Time for 20 bps hike in reverse repo rate but outside MPC: SBI Ecowrap
The rate is the interest banks earn on the deposit of their surplus funds with the RBI. The monetary policy review is slated for February 8-10. It is widely expected that the RBI's MPC will maintain status quo in the key lending rates. At present, the MPC of the central bank has maintained the repo rate, or short-term lending rate, for commercial banks at 4 per cent.
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