BUSINESS
FY22's fiscal deficit expected to come in at 6.6% of GDP: Ind-Ra
As per the agency, the data relating to the Union government finances show that tax collections so far have immensely benefitted both from growth and inflation.
Equity indices close flat on rising Covid cases, NPAs concerns
Accordingly, both the indices closed on a flat to negative note. The two key indices opened nominally higher but sold off in the first few minutes of trade but again clawed back.
Weak rural demand dents several large-cap stocks in 2021
Market participants believe large-cap stocks are safe as they have low risks associated with them and they usually give steady returns in the long-run.
RBI allows KYC updation till March 2022 amid Omicron uncertainty
The RBI, through a notification, said it is extending the deadline in view of the "prevalent uncertainty due to new variant of Covid-19".
Pramila Jayapal slams Elon Musk for bragging about paying tax
In a tweet, Jayapal said: "Elon Musk made $36 billion in one day, but wants to brag about paying an $11 billion tax bill. Oh yeah, he also added more than $270 billion in wealth just since the pandemic started.
Indian equities marginally up in early trade
At 10 a.m., Sensex traded at 57,882 points, up 0.1 per cent from its previous close of 57,806 points. It opened at 57,755 points. Similarly, Nifty traded at 17,228 points, up 0.1 per cent from the previous close of 17,213 points. It opened at 17,220 points.
Rising Covid cases, soft global cues subdue equities; metal stocks fall
Besides, rising domestic cases of Covid-19 also subdued investor sentiments. Initially, the indices opened lower amid softer global cues but recovered soon afterwards. However, they ceded all their gains and fell sharply during the last half hour of the day's trade. Globally, markets paused their Christmas rally as investors became cautious with rising Omicron cases.
Russia's Nord Stream 2 pipeline ready to pump gas to Europe
Gazprom has completed filling the second string of the Nord Stream 2 pipeline with gas, and both strings with sufficient pressure are fully ready for use, Miller said on Wednesday. "Now, of course, everything depends on our partners, consumers in Europe. As soon as they agree, large additional volumes of Russian gas will immediately begin to flow to Europe," Putin said. The launch of the Nord Stream 2 pipeline will lower gas prices on the spot market, he predicted.
Private cryptocurrencies pose risk, prone to frauds, illegal acts: RBI report
As per the cryptocurrencies pose immediate risks of frauds, to anti-money-laundering efforts, and fight aginst terror financing. Besides, these assets are prone to extreme price volatility, given their highly speculative nature, the RBI said in its latest Financial Stability Report. "Longer term concerns relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution," the report said.
Civil Aviation Ministry urges domestic airlines, airports to play Indian music
“Ministry of Civil Aviation is in receipt of request from ICCR on playing Indian music in the aircraft being operated in India and at airports following the regulatory requisites,” the ministry in a letter informed airlines and airport operators. The step has been taken with a aim to promote Indian music. The letter also mentions that music in India began as an “integral part of socio-religious life”.
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