BUSINESS
EU concerned about rights situation in Pak putting in doubt its preferred trade status
EU Parliament Member Luis Garicano explained the concerns over human rights issues in Pakistan following a visit to the country in a series of tweets. Garicano is a Spanish economist and politician who is a Member of the European Parliament (MEP) from Spain since 2019. "The @EUParl is very concerned about the deteriorating human rights situation, which puts into question the continuation of the preferred trade status of the country (GSP+)," Garicano said.
RBI removes restrictions on Diners Club International
In April, the RBI had imposed restrictions on Diners Club International from on-boarding new domestic customers onto its card network from May 1, 2021 for non-compliance of payment system data storage norms. Diners Club International is a direct banking and payment services company. It offers access to more than 1,300 airport lounges worldwide, and providing corporations and small business owners with a complete array of expense management solutions.
M&M's Q2FY22 YoY net profit rises to Rs 1,432 cr
During the same period last year, the company had reported a net profit of Rs 162 crore. Besides, M&M's Q2FY22 revenue zoomed 15 per cent on a year-on-year basis to Rs 13,305 crore. On a consolidated basis, Mahindra Group's net profit after an exceptional item rose 214 per cent to Rs 1,929 crore from Rs 615 crore. Furthermore, consolidated revenue rose to 12 per cent to Rs 21,470 crore during the period under review on a YoY basis.
India poised to achieve services export target of $1 tn: Piyush Goyal
Goyal said that services sector provides employment to nearly 2.6 crore people and contributes to approximately 40 per cent of India's total global exports. He also said that services trade surplus was $89 billion in FY 2020-21 and has been the largest FDI recipient (53 per cent of FDI inflows 2000-2021).
China's real estate problems could hurt global markets, warns US Federal Reserve
In its biannual report on financial stability, the Fed pointed specifically to the crisis at Evergrande, China's most indebted developer. The company has sparked fears of contagion since September upon warning that it could default on its debts of more than $300 billion. Several other real estate developers are also in trouble, the report added.
Zoomcar raises $92mn from SternAegis Ventures, other investors
SternAegis acted as the exclusive placement agent for this offering and ThinkEquity acted as special advisor. Zoomcar intends to use the proceeds from this financing to grow its car sharing marketplace in India and various select markets across Asia and the MENA region.
Crypto market cap hits $3tn mark for 1st time, Bitcoin on fire
Bitcoin and Ether created a new all-time high of $68,641.57 and $4,857.25 on Tuesday. Despite uncertainties and high volatility surrounding it, Bitcoin may touch the $100,000 mark by the end of this year. The Bitcoin market cap alone has crossed $2.5 trillion amid its rising adoption globally, particularly in India.
Petrol, diesel prices remain unchanged for 5th straight day
Accordingly, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on November 4 from the previous day's Rs 110.04 a litre, remained the same on Tuesday. The diesel prices also continued to be stable in the capital at Rs 86.67 a litre. In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre and diesel Rs 94.14 a litre.
Vistara commences non-stop flights between Delhi and Paris
Vistara is scheduled to fly twice a week between the two cities - on Wednesdays and Sundays. "Paris is one of the most popular destinations in Europe and CDG an important airport for any airline intending to serve the region," Vistara Chief Executive Officer Leslie Thng said. "Given the strong economic and cultural ties, there is a high demand for direct connectivity between India and France, and therefore Paris fits our network very well."
Over 1,700 consignments of uncleared/seized hazardous imports disposed off
Hazardous consignments are often goods whose import is restricted in terms of extant policy such that they may require license for import. Such goods may also be in the nature of banned materials not allowed to be imported, which are attempted to be smuggled into the country. Such seized hazardous goods need to go through a quasi-judicial process which also has appeal provisions, which tends to make the disposal process take more time.
Don't Miss
Advertisement