BUSINESS
India Sweden Innovation Day 2021: Concrete roadmap to create circular economy
The main highlight of the event was the implementation of the partnership of Vinnova, Sweden's Innovation Agency, the Indian Department of Science and Technology as well as The Department of Biotechnology. The stakeholders of both the nations agreed to invite the call for proposals that covers the important areas within circular economy.
Global cues lift sentiments; equity indices trade higher
At 9.45 a.m., the 30-scrip sensitive index traded at 59,661.74 points, up 35 4.81 points or 0.60 per cent. The Sensex opened at 59,577.48 points from its previous close of 59,306.93 points. Besides, the NSE Nifty50 traded at 17,794.85 points, higher by 123.20 points or 0.70 per cent. It opened at 17,783.15 points from its previous close of 17,671.65 points.
Fuel price rise continues unabated, petrol over Rs 115/ltr in Mumbai
Accordingly, the pump price of petrol in Delhi increased by 35 paise per litre to jump to Rs 109.69 a litre while diesel prices also increased by the same margin to reach Rs 98.42 a litre, according to a price notification of state-owned fuel retailers. In the financial capital Mumbai, petrol prices have now risen to Rs 115.50 per litre while diesel to Rs 106.63 a litre, the highest among all metros.
Co-op movement to play huge role in achieving $5 tn economy: Amit Shah
Amul was started in 1946 as a cooperative movement in Anand with the guidance of Sardar Vallabhbhai Patel and cooperative leader Tribhuvandas Patel, the founder of Kheda District Co-operative Milk Producers' Union, popularly known as Amul Dairy. Amul was an acronym for Anand Milk Union Ltd then. Now, it is a part of the Gujarat Cooperative Milk Marketing Federation (GCMMF), selling its dairy products with the brand name 'Amul'.
China's push to redistribute wealth unsettles luxury goods industry
Shoppers in mainland China are vital to brands such as LVMH, Hermes and Gucci. Last year, as the coronavirus pandemic took hold worldwide, China's case numbers remained relatively low and the country's share of the global luxury market roughly doubled, according to consultancy Bain.
US announces deal with EU to resolve steel, aluminium tariff disputes
"This agreement is significant in that it will reduce costs for American manufacturers and consumers," Raimondo said, adding the cost of steel for manufacturers in the US downstream industries has more than tripled in the past year, reports Xinhua news agency.
Same inflation but different burdens; urban poor suffer the most
According to a Crisil analysis of the impact that inflation on different segments of the population, poorer segments are facing the pressure from price rise more due to high prices of fuel and food, which have the highest weights for the bottom 20 per cent. Also, urban inflation in these two commodity groups was higher than that in the rural areas.
Huawei reports $71.3bn revenue in first three quarters of 2021
"Overall performance was in line with expectations. While our B2C business has been significantly impacted, our B2B businesses remain stable," Xinhua news agency quoted Guo Ping, Huawei's rotating Chairman as saying. The smartphone maker also announced that more than 150 million devices are now on 'HarmonyOS', making it the fastest-growing OS in history.
IDFC First Bank's Q2FY22 YoY net profit up 50%
As per the bank, its net profit during the period under review rose to Rs 152 crore from Rs 101 crore in Q2FY21. Besides, the bank's net interest income grew by 27 per cent on a YoY basis to reach Rs 2,272 crore in Q2FY22. The net interest margin increased to 5.76 per cent in Q2FY22 as compared to 4.91 per cent in Q2FY21. Furthermore, the bank's GNPA and NNPA stood at 4.27 per cent and 2.09 per cent, respectively. GNPA and NNPA reduced sequentially by 35 bps and 23 bps, respectively
'Squid Game' crypto jumps over 60,000% in less than a week: Report
According to CoinMarketCap, SQUID was worth $0.01 cent on Tuesday and rose to $6.27 on Friday morning -- a 62,600 per cent increase. 'Squid Game's' popularity spread like wildfire since it aired on Netflix last month, reports USA Today. The show features contestants playing deadly versions of childhood games to win a huge cash prize at the end.
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