BUSINESS
In affidavit, DMRC claims it has total funds worth Rs 5,800 cr
The DMRC has stated its fund position in an affidavit filed with the Delhi HC. The fund position of DMRC, as per its own affidavit, clearly exhibits its ability to pay the arbitral award to Reliance Infrastructure. The DMRC has already deposited Rs 1,000 crore in an escrow account with the Delhi HC, as per the directions of the court in its last hearing on December 6, 2021.
MapmyIndia sees strong exchange debut, lists 52% premium over issue price
Founded in 1995, the Delhi-based MapmyIndia is an Indian technology company that builds digital maps, geospatial software, and location-based IoT technologies. Shares of the company listed at Rs 1,565, against the issue price of Rs 1,033 per share. During the day, the shares of the company pared some of its intra-day gains and settled at Rs 1,375, up over 33 per cent from its issue price, NSE data showed.
Indian cybersecurity industry hits $9.8 bn in revenue: Nasscom
Currently, the cybersecurity services companies employ 2.18 lakh people while product companies have a 27,000-strong workforce in the country. The Indian cybersecurity industry is also expanding its global footprint, with a presence in the US, Canada, the UK, France, Australia, Singapore, and the UAE. According to the report, the cyber-security services industry grew from $4.3 billion in 2019 to $8.48 billion in 2021 at a CAGR of 40.33 per cent.
Pakistan: Debt Crises double up in last 3 years due to economic mismanagement under Imran Khan govt
The incumbent government has almost doubled Pakistan's external debt in just three years, adding 35.1 billion US dollars to take the total figure to an astonishing 85.6 billion US dollars. Last month, International Monetary Fund rejected pakistan's request to borrow from the central bank amid the ongoing financial crises in the country.
Acute coal shortage for domestic Captive Power Plant (CPP) based industries
The Non-Regulated Sector (NRS) in India consisting of Captive Power Plants (CPP) is struggling to retain cost-competitiveness and sustainable industry operations due to the ongoing situation of non-equitable treatment when compared to the Power Sector, specifically with regards to allocation, coal linkages, railway rakes, materialization, coal pricing etc.
Reliance tops Wizikey's News Score 2021 ranking
The recognition comes on the back of Exchange4Media Group's recognition recently to Reliance as one of India's Brands with Best In-house Communications Professionals 2021. Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company.
Turkey President Erdogan announces new measures to cope with currency depreciation
Speaking at a press conference after a cabinet meeting, Erdogan said Turkey would introduce new measures within the free-market economy to stop the fluctuations in the exchange rate, reports Xinhua news agency. Presenting a new mechanism for lira deposits, the president said the country will compensate lira deposit holders for their loss of wealth if the lira falls in value.
Indian auto component industry grows to Rs 1.96 lakh cr in H1
Exports of auto components grew by 76 per cent to Rs 68,746 crore in the first half of 2021-22 from Rs 39,003 crore in the first half of 2020-21. Europe accounting for 31 per cent of exports, saw an increase of 81 per cent, while North America and Asia, accounting for 32 per cent and 25 per cent respectively also registered increase of 81 and 73 per cent respectively.
Pakistan Railways in a horrific mess
According to a report for the Ministry of Railways, while the departmental deficit ballooned to a whopping 46 billion PKR in 2021, during the current Pakistan Tehreek-e-Insaf (PTI) led government's tenure, total losses incurred for railways stand at 1.19 trillion PKR. As far as accidents are concerned, 270 people lost their lives and a further 396 were injured in 455 train accidents between 2018 and 2021.
Italy, Germany likely to bring positions closer over EU fiscal rules
The two countries have long held different views on the EU's budget and public debt rules (i.e. on how the bloc's member states should manage their public spending), with Italy pursuing a more flexible approach and Germany a stricter one, reports Xinhua news agency. "Next Generation EU" recovery instrument -- the Italian Prime Minister said the bloc needed to proceed further with its integration process and find an agreement on the rules of the Stability and Growth Pact.
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