BUSINESS
Global cues, oil prices dent Indian indices; banking stocks fall
Beside this, higher crude oil prices impacted investors' sentiments. Initially, both the key indices had a gap-down opening. They remained rangebound till mid-afternoon after which buying was triggered. However, after filling the opening down gap they soon ran into selling pressure and dipped back into the negative zone.
Centre to infuse Rs 1,650 cr into NEIA
Capital infusion in NEIA Trust will help tap the huge potential of project exports in focus market. "Government has today approved... contribution of 'Grant-in-aid' (corpus) of Rs 1,650 crore to NEIA over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026," an official comminuque said.
ECGC to get over Rs 4K cr investment in 5 yrs
The investments will be made from FY2021-2022 to FY2025-2026. Besides, the approved infusion, along with the company's listing process through the Initial Public Offering (IPO), is expected to increase the underwriting capacity of the ECGC to support more exports.
CPEC in doldrums, no work done in last three years
Chinese are very angry with the present dispensation of Pakistan led by Imran Khan. Out of 77 CPEC projects in the country, just 15 could be completed since it was started in 2015, according to media reports. Even Pakistan's Planning and Development Minister Asad Omar accepted the fact that Pakistan could complete the only first phase of the CPEC and is entering into the second phase.
Global cues dent indices; IT stocks fall
Besides, higher crude oil prices impacted investors' sentiments. Globally, Asian shares lost ground on Wednesday as worries over economic growth in China combined with fears of a global slowdown set in. Sector wise, power, oil and gas and metal indices gained the most while realty, IT and telecom indices fell the most.
Top 7 cities see 113% rise in housing sales in Q3 2021, new launches up 98%: Report
As per the report, increased sales also improved new launches as it rose in the top 7 cities by 98 per cent yearly - from approximately 32,530 units in Q3 2020 to approximately 64,560 units in Q3 2021. While MMR continued to see the highest number of new launches (of approximately 16,510 units) in the quarter, Hyderabad was close behind with a new supply infusion of approximately 14,690 units.
Chinese projects worth $843bn reveal major hike in 'hidden debt' for 42 nations
AidData, an international development research lab based at William & Mary's Global Research Institute, today released a trove of new findings about China's secretive overseas development finance program leveraging insights from a uniquely granular data that captures 13,427 projects across 165 countries worth $843 billion.
Musk slams Biden as 'not the friendliest' after WH EV summit snub
Musk's comments came during a Code Conference interview and followed a tweet in which the Tesla CEO mocked Biden using similar insults as former US President Donald Trump, reports The Verge. The Biden administration invited auto executives to the White House last month to discuss the shared goal of increasing the production of electric vehicles.
Govt considering lowering exchange rates given by banks to small exporters
Exporters have to deal with exchange rate variations for dealing in foreign currencies and its conversion into rupee. However, while large exporters get forex access at lower exchange rate from banks, smaller ones make payments at higher exchange rate thereby losing competitive advantage on their products and services.
Electric Moves: Tata's 'UniEVerse' accelerates EV adoption
The concept known as 'UniEVerse' has practically created the economy system for quick adoption of EVs in the country.
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