BUSINESS
India's furniture & home market to reach $40bn by 2026: Report
Over the next five years, online furniture and home sales are expected to be growing at a strong 39 per cent CAGR. The online home category includes home decor, furnishings, mattresses and lighting. The online furniture category will foresee 3X growth in shoppers in the next five years with a 1.8x jump in annual spending per shopper.
58% Twitter followers tell Musk to sell 10% of his Tesla stock
The world's wealthiest person had tweeted out a poll over the last weekend, asking his Twitter followers whether he should sell Tesla stock in order to pay more tax. While 57.9 per cent of more than 3.5 million participants had voted "yes," 42.1 per cent voted "no". "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock," Musk tweeted.
Markets opened on a positive note and turned negative
The Sensex of the BSE opened at 60,385.76 points and touched a high of 60,434.38 points. The Sensex touched a low of 59,979.48 points. The Sensex had previously closed at 60,067.62 points. The Sensex is trading at 59,940.78 points down by 126.84 points or 0.21 per cent. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 18,040.20 points after closing at 17,916.80 points.
Future Retail independent directors writes to CCI over Amazon's 'evil non-desirable designs'
In a letter to CCI Chairman Ashok Kumar Gupta, the independent directors of FRL on Sunday urged CCI to intervene and stop Amazon's designs to make FRL bankrupt, make the Indian public sector banks write off Rs 30,000 crore, render 6,000 SMEs insolvent and make 50,000 employees and their families jobless.
Chinese aviation industry and tech acquisition by China
Reaching this level of proficiency in the aviation sector has not been easy for China as it has depended significantly on technology acquisition through discrete and unethical channels which has also impacted the image and credibility of Chinese companies and experts operating abroad.
China completes preparations for implementation of RCEP trade pact
China has completed all the necessary plans for implementing committed tariff reductions, adjustments on the rules of origin for goods and software system updates at customs authorities to ensure smooth tariff reductions, said Yu Benlin, Director-General of the Department of International Trade and Economic Affairs with MOFCOM.
'9 of 10 start-ups fail, I'm aiming to rectify that'
With nine out of 10 start-ups failing, Shirish Nadkarni, a serial entrepreneur with 20-plus years of experience in creating consumer businesses that have scaled to tens of missions of users worldwide, challenges that equation in his new book in which he lays down strategic and tactical methods "to change the world".
Markets to remain volatile and choppy
At the end of the three-days and Muhurat trading, BSESENSEX gained 760.69 points or 1.28 per cent to close at 60,067.62 points. NIFTY gained 245.15 points or 1.39 per cent to close at 17,916.80 points. The Indian Rupee gained 42 paisa or 0.56 per cent to close at Rs 74.46 to the US Dollar. Dow Jones had a good week and posted new closing highs and intra-day highs
Foreign Fund Flow: Rupee to gain strength on likely return of FIIs
Accordingly, the rupee is likely to touch the 74 to a USD mark during this period. The FIIs have been on a selling spree in India's equity market, however, the rate of off-load has significantly come down during the last few sessions. On last Thursday, during the hour-long 'Muhurat Trade Session', FIIs sold just Rs 328.11 crore worth of stocks on the BSE, NSE and MSEI in the capital market segment.
Pakistan takes costliest ever LNG to avert gas crisis
The Pakistan LNG Limited (PLL) had floated emergency bids for two cargoes to be supplied in November, as the firms involved, Gunvor and ENI, had defaulted on their commitments. The PLL has short- and long-term agreements with Gunvor and the ENI for one LNG cargo each every month, but both suppliers refused to honour their part of the agreements.
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