BUSINESS
Union Budget: Indian startups seek friendly policies, tax incentives
New reforms, policy assistance, and support mechanisms for establishing a focused approach in solving unmet financial needs through technology will significantly benefit the economy, they stressed.
Resident real estate sector poised for upcycle: MOFSL
India's resident real estate sector is poised for an upcycle, primarily buoyed by improved affordability, said Motilal Oswal Financial Services Ltd. As per MOFSL, decadal low interest rate regime and stagnant prices over last seven years have driven affordability quotient. "The ongoing industry consolidation led by concentration of capital, 400-600 bp advantage in cost of funding for large developers and buyers' trust on organised developers will further escalate growth for large listed developers," said brokerage house.
How trillion-dollar 'space economy' is threatened by debris
According to NASA, it is estimated that millions of pieces of space debris orbit around Earth. A major portion of these objects as well as active satellites reside in the low-Earth orbit region, at altitudes between 200 km and 1,000 km. In November last year, Russia destroyed one of its own satellites with a ground-based missile, creating thousands of pieces of debris that passed through the International Space Station (ISS).
ICICI Bank's Q3 standalone net profit up 25% YoY
On a standalone basis, the profit after tax grew to Rs 6,194 crore, compared to Rs 4,940 crore in the corresponding period of the previous fiscal. Similarly, the bank's net interest income (NII) rose during the quarter under review, growing by 23 per cent to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore in Q3FY21. "The net interest margin was 3.96 per cent in Q3-2022 compared to 3.67 per cent in Q3-2021 and 4 per cent in the quarter ended September 30, 2021 (Q2-2022).
Eye on Budget: Relief to individuals expected to mitigate inflation, unemployment
The government may increase the limits on standard deduction from Rs 50,000 to Rs 1 lakh, SMC Global Securities said in a report. It expects increase in tax benefit on home loan interest and principal repayment by Rs 50,000 each, higher from the current level of Rs 2 lakh and Rs 1.5 lakh, respectively. The government may provide interest subsidy of 3-4 per cent on home loan for three years.
Yes Bank's Q3 net profit up over 76% YoY
The bank's net profit rose to Rs 266 crore as against Rs 151 crore reported in the corresponding period of the previous fiscal. However, the bank's net interest income fell by 31.1 per cent for Q3FY22 to Rs 1,764 crore as against Rs 2,560 crore for Q3FY21. According to the lender, the gross NPA ratio improved to 14.7 per cent as on December 31, 2021, as against 15.4 per cent as on December 31, 2020.
Witnessing gradual recovery in CV segment demand says Tata Motors
In a conversation with IANS, Girish Wagh, Executive Director, Tata Motors, cited a gradual recovery in demand post the second wave. Accordingly, the recovery was triggered on the back of increase in economic activity, which along with a robust rural economy has driven the sales of CVs.
Record 43 unicorns among over 2200 startups India added in 2021, $24.1 billion raised: NASSCOM
The report titled “Indian Tech Start-up Ecosystem: Year of The Titans” hailed the Indian startups saying that it raised over USD 24.1 billion in 2021. 2021 saw startups securing thrice the number of valuable deals (counted as above USD 100 million) than it did in 2020. This is a testimony of investor confidence which boasted of over 2400 angel investors and the increasing appetite to take financial risks.
Global crypto market suffers $1 trillion loss as Bitcoin crashes
Bitcoin was hovering at $35,000 per coin and the largest digital asset by market value has lost nearly 50 percent since reaching its peak in November 2021.
Amazon faces probe for illegally firing a US worker: Report
The US National Labor Relations Board (NLRB) is preparing to issue a formal complaint against Amazon for illegally firing Daequan Smith who has since been homeless.
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