BUSINESS
US inflation rose at fastest pace in past 12 months since 1982
The consumer price index -- a measure of the prices Americans pay for a market basket of everyday goods and services -- jumped 7 per cent over the last 12 months, the Labor Department (DOL) said on Wednesday. This marks the largest one-year increase since the period ending in June 1982, the DOL noted, as per the report. The index climbed 0.5 per cent in December, a slight reprieve from the 0.8 per cent seen in November.
High food prices lift India's Dec retail inflation rate
Data furnished by the National Statistical Office showed that the Consumer Price Index rose by 5.59 per cent last month from 4.91 per cent in November 2021. Similarly, on YoY basis, the rise in last month's retail inflation was faster than the 4.59 per cent rise recorded for December 2020. The macro-economic data assumes significance as retail inflation has almost reached the range limit of the Reserve Bank of India's set target of 2-6 per cent.
Fintech platform Refyne raises $82 mn to simplify personal finance
The platform enables employees to withdraw their earned salary in real time before the payment is due, thus reducing debt traps by providing instant access to earned salary. The Earned Wage Access (EWA) solution provider said the since its inception (December 2020), it has raised a total of $106 million.
Bifurcating satellite bands for 5G may cost India $184 bn: SIA-India
It will result in Indian citizens being denied the benefits of high-demand, advanced satellite broadband services and risk lost GDP increases per annum to India's economy of up to $184.6 billion by 2030 and associated FDI and employment generation benefits, said SIA-India, the apex body representing satellite operators, satellite systems, launch vehicles and ground and terminal equipment manufacturers.
Crypto prices moving in sync with stocks, posing systemic risks
Given their relatively high volatility and valuations, cryptocurrencies' increased co-movement could soon pose risks to financial stability especially in countries with widespread crypto adoption, according to IMF research.
Fintech platform Refyne raises $82 mn to simplify personal finance
The platform enables employees to withdraw their earned salary in real time before the payment is due, thus reducing debt traps by providing instant access to earned salary.
Equities extend gains, Q3FY22 earnings in focus for fresh cues
At 10.13 a.m., Sensex traded at 60,972 points, up 0.6 per cent from its previous close of 60,616 points. It opened at 61,014 points. Similarly, Nifty traded at 18,156 points, up 0.6 per cent from the previous close of 18,055 points. It opened at 18,170 points.
Binance CEO becomes one of the world's richest billionaires
Zhao's projected fortune now is just below that of Oracle founder Larry Ellison and surpasses that of Mukesh Ambani, the Indian tycoon whose fortune has also soared over the last two years. The ascent of the Chinese-Canadian entrepreneur is emblematic of the rapid creation of wealth in the fast-moving world of digital currencies.
What is a Mudra Loan, its Eligibility, Interest Rate, and how to apply online?
MUDRA loan is one of the government loan schemes for small businesses in India. These loans have proved beneficial for businesses from profit and non-profit sectors, as they have low cost and worth of credit. Under the MUDRA scheme, an individual or an enterprise seeking a loan can get financial aid up to 10 lakhs. Here's all you need to know about eligibility, interest rate and online application.
Extreme weather events cost US $145bn in 2021: report
Each of those climate or weather events individually led to losses of at least $1 billion and they in all contributed to the deaths of 688 people across the US, showing that "we're not going to be able to adapt our way out of the increasingly violent climate," said the agency in its report released on Monday.
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