BUSINESS
Bank loan fraud case: ED to quiz KSBL's Chairman and MD C. Parthasarathy in police custody
The agency has got five-day custody of the alleged accused. Parthasarathy is currently lodged in Chanchalguda jail from where he will be taken into custody. He was lodged with Bengaluru jail and shifted to Chandhalguda jail on a prisoner transit warrant.
Hike in premium exemption, indication on GST cut on premium budget expectations of insurers
Senior industry officials also urged the government to take steps to increase insurance penetration in the country. Even though the GST rates do not form part of the union budget, insurers want an indication towards slashing of the rates on insurance premiums in Finance Minister Nirmala Sitharaman's budget speech.
Unilever to cut thousands of jobs globally
Consumer goods giant Unilever is set to announce thousands of worldwide job cuts this week, the BBC reported. The Marmite and Dove soap maker will slash the positions in more than 100 countries, with cuts in the "low thousands" planned, the BBC report cited a source as saying. It comes a week after the firm failed in its bid to buy the consumer health division of GlaxoSmithKline (GSK) for 50 billion pounds.
IBM bets big on Kyndryl to boost revenue stream in 2022
The company posted solid revenue performance in Q4 2021, up nearly 9 per cent, and this includes the incremental revenue from the new commercial relationship with Kyndryl. IBM reported revenue of $16.7 billion, up 8.6 per cent (including about 3.5 points from incremental external sales to Kyndryl).
Smartphone sales in India grow 12% in 2021: Report
After a tough start to the year, due to the second wave of Covid-19, India recovered strongly in the second half, reports market research firm Canalys. Following a strong comeback in Q3, smartphone vendors shipped 44.5 million devices in Q4 for 2 per cent growth, despite a challenging supply chain.
US Fed expected to pave way for rate hike in March
The US Federal Reserve is expected to use this week's policy meeting to pave the way for raising interest rates in March for the first time since the onset of the Covid-19 pandemic, as the central bank has made a hawkish pivot to combat surging inflation, economists have said. "With the FOMC growing increasingly concerned about inflation, we look for January's post-meeting statement to signal the Fed funds rate could be lifted at its next meeting on March 15-16," Xinhua news agency quoted Jay H. Bryson
Equities reverse from sharp decline
On Monday, Senses and Nifty declined around 2.6 per cent each as FIIs sold portfolios worth Rs 3,751.58 crore on BSE, NSE, and MSEI in the capital market segment, data revealed. The gains came after five consecutive sessions of fall in the indices.
Budget FY23: Big boost to MSMEs expected
There are, in fact, reasons for it -- the poll-bound states have a good share of MSMEs, and the government would not take any chance to let the Opposition label it "as anti-poor, anti-small traders". It was not the first time that the opposition raised tough questions on the condition of MSMEs during the pandemic.
Budget FY23: Increase in trade infra spending to boost exports
Crisil Research said that an increased budgetary allocation in the form of 'grants-in-aid', as envisaged under the trade infrastructure for exports scheme, which seeks to create first or last-mile connectivity for export-oriented projects, will drive the objective of enhancing competitiveness.
West Bengal takes market loan for third time this month
According to the Reserve Bank of India, the state borrowed Rs 3,000 crore from the open market on Monday - the third time in this month taking the total borrowing to Rs 6,500 crore this month - making it second after Uttar Pradesh. Earlier the state had borrowed Rs 3,500 crore in two installments in this month.
Don't Miss
Advertisement