BUSINESS
Air India to commence normal ops to US from Friday
On Tuesday, the national carrier said that it will not be able to operate a number of US-bound flights due to the deployment of 5G communications in the US. As per industry insiders, the 5G network technology might cause certain crucial flight instruments to malfunction. The airline informed passengers via its official Twitter handle: "#FlyAI : Flight operations to/from destinations in USA were affected during last two days."
UN sends $32 mn in cash to Afghanistan
In a statement, Da Afghanistan Bank (DAB) said that the money was delivered to Afghanistan International Bank (AIB) on Thursday, reports Khaama Press. UN has sent $32 million in cash to the war-torn nation as part of the world body's humanitarian aid assistance, the media reported. Welcoming the UN aid, the DAB said the money is part of a process based on which the UN will provide $20 million weekly until March to the country.
'Indian MSMEs have manufacturing cost advantage in global value chain'
The MSME Ministry has been working closely with other Ministries and Departments to facilitate the ease of doing business for MSMEs, he said in his address at the inaugural session of MSME Conclave organised by EEPC India. MSMEs contribute around 30 per cent to India's GDP and have a 50 per cent share in the country's exports. MSMEs engaged in manufacturing engineering products are about 29 per cent of the 67 lakh MSMEs which have registered since July 1, 2020 on the Udyam registration portal.
Consumer Price Index numbers for Agri, Rural labourers up by 5 points in Dec 2021
The major contribution towards the rise in general index of Agricultural Labourers and Rural Labourers came from Fuel & Light group and miscellaneous group to the extent of 1.72 & 1.58 points and 1.02 & 1.06 points respectively mainly due to rise in prices of firewood, kerosene oil, medicine, barber charges, bus fare, toilet soap, washing soap, etc., a release from the Ministry of Labour and Employment said on Thursday.
India's B2B business to grow 10.3% in 2022 says American Express
A study conducted by American Express India and Invest India in partnership with the Centre for Business and Economic Research said: "Indian businesses saw spending grow three times faster than the expectations from its comparable peers in the other countries, establishing a lead that is likely to only consolidate."
FII outflows plunge equity indices; Sensex, Nifty settle 1% down
As per data, FIIs sold Rs 4,679.8 crore on BSE, NSE and MSEI in the capital market segment. Besides, global inflationary woes as well as rise in crude oil prices supported the downtrend. Consequently, Sensex settled at 59,464 points, down 1.06 per cent or 634 points, whereas Nifty settled at 17,757 points, down 1.01 per cent or 181 points, from its previous close.
Large firms have become larger at the cost of smaller firms: HSBC
Those earning their livelihoods from small and informal firms have suffered. This is a problem because 80 per cent of India's labour force is employed in the informal sector, and the roughly half of them who are in the non-agricultural sector have borne the economic brunt of the pandemic, the report added.
Centre releases Rs 95,082 cr to states as tax devolution
Poll bound states of Uttar Pradesh will receive Rs 17,056.66 crore, Uttarakhand Rs 1,063.02 crore, Punjab will receive Rs 1,718.16 crore and Goa is going to get Rs 367.02 crore along with all other states. The Government of India had released the first advance instalment of tax devolution amounting to Rs 47,541 crore to states on November 22, 2021.
Walmart invites Indian sellers to expand overseas via its US marketplace
The company said that its initiative expands on over 20 years of Walmart's engagement with Indian exporters. India is already one of Walmart's top sourcing markets, and the company has set an ambitious goal of exporting $10 billion from India each year by 2027. "Building on our long history of partnership with Indian exporters, Walmart is now offering Indian businesses the opportunity to further their export dreams as Marketplace sellers," Michelle Mi, Walmart Vice President, Emerging Markets and Business Development - Global Sourcing, said in a statement.
Job and income supporting measures to be watched in Union Budget
Some measures to support the rural economy, amid its weakening and the impending state elections, and any measures to revive the Residential Real Estate sector would be welcome.
Don't Miss
Advertisement