BUSINESS
Sensex falls 1,170 points; oil stocks down
The barometer 30-scrip Sensex fell sharply to 58,465 points, down by 1,170.12 points or 1.96 per cent. Similarly, the broader 50-scrip Nifty closed the day at 17,416 points, down 1.96 per cent or 348.25 points. It touched a low of 17,280 points.
Ericsson to acquire global Cloud firm Vonage for $6.2 bn
The Cloud-based Vonage Communications Platform (VCP) -- accounting for approximately 80 per cent of Vonage's current revenues -- serves over 1,20,000 customers and more than one million registered developers globally. The merger agreement is expected to complete in the first half of 2022, the company said in a statement.
Petrol, diesel prices static as global oil rates remain depressed
Accordingly, petrol and diesel prices remained static for 18th consecutive day under the daily price revision mechanism followed by the OMCs. The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on the Diwali day on November 4 from previous day's level of Rs 110.04 a litre, remains at the same level. The diesel prices also remained unchanged at Rs 86.67 a litre. In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre and diesel at Rs 94.14 a litre.
US Federal Governor urges faster pace of tapering as inflation surges
"To me, the inflation data are starting to look a lot more like a big snowfall that will stay on the ground for a while, and that development is affecting my expectations of the level of monetary accommodation that is needed going forward," Waller said in an address at the Center for Financial Stability in New York.
Economic recovery to gain further traction during H2FY22: Ind-Ra
Consequently, it has maintained an "improving outlook" on domestic corporates for the second half of FY22. "Entities with a strong market share and healthy balance sheet will continue to show strong earnings, although margin may moderate. However, sectors which consume commodities will face challenges in the complete pass-through of input prices," the agency said.
AirAsia India resumes inflight F&B on all flights
The move, it said was is in line with relaxations in the regulatory guidelines issued on November 16, which had restricted meal service on flights less than 2 hours. "Guests can choose to pre-book their meals from a wide range of veg, non-veg and vegan hot meals and sandwiches or purchase light bites, hot and cold beverages and ready-to-eat meals inflight on flights above 75 minutes."
Alibaba, Tencent fined in China crackdown
The State Administration for Market Regulation (SAMR) slapped 500,000 yuan ($78,300) on each firm for the deals they were involved in, including Beijing Baidu Wangxun Technology Co and Nanjing Wangdian Technology Co's joint purchase of Nanjing Xinfeng Network Technology Co, Alibaba's acquisition of the equity of AutoNavi Software Holdings Co, and Tencent's acquisition of equity in China Medical Online Co.
Anand Mahindra says not invested a single rupee in crypto
The billionaire shared some screen grabs which claimed that he has made tons of money using a cryptocurrency investment platform. Sharing some screen-shots which claimed that Mahindra has made a lot of money using a crypto currency platform, the billionaire said that such news takes “fake news” to another level. He also asserted that he somehow has seen this news online which made him alert.
Vegetable prices soar in Delhi, consumers feel pinch
Tomatoes and green peas, considered as the main constituents of Indian food, are among the costliest vegetables. The retail prices of green peas on online grocery delivery platforms have soared to Rs 200-250 per kg in Delhi and the prices are Rs 120 at the local mandis.
India's foreign exchange reserves drop by over $760mn in November: RBI
India's forex reserves fell to $640.112 billion from $640.874 billion registered for the week ended November 5, RBI data revealed. Foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF, all together form the country's forex reserves.
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