BUSINESS
Can China's debt ridden local govts rescue the falling real estate giant, Evergrande?
Even as the debt levels of these local governments rose steadily over the years, they escaped any major scrutiny. These local governments and their local government financing vehicles (LGFVs) have also been driving financing of the Belt and Road Initiative (BRI). LGFVs are financial arms set up by the local governments.
Apple, Tesla suppliers suspend ops due to power cuts in China
The disruptions might affect the industry chain and production of major electronic devices if the situation gets worse, said analysts, Global Times reported.
RBI sets WMA limit at Rs 50K cr
In financial parlance, the WMA is a mechanism used by the RBI, under its credit policy, to provide advances to states banking with it, to tide over temporary mismatches in the cash flow of their receipts and payments. This is repayable in each case, not later than three months from the date of making the advance.
Global cues keep Indian equity indices' stable, realty stocks rise
Globally, Asian shares ended higher on Monday, but fears of further waves of coronavirus outbreaks were clouding the economic outlook for the region, tempering the rally. European markets rose even as investors assessed whether global growth can withstand a slowdown in China and a global energy crunch.
Govt to borrow Rs 5.03 lakh cr in second half of FY22
Out of gross market borrowing of Rs 12.05 lakh crore projected for FY22 in the Union Budget, Rs 7.24 lakh crore (60 per cent) was planned to be borrowed in first half (H1). The effective borrowing in H1 of FY 2021-22 was, however, Rs 7.02 lakh crore. The government now plans to borrow the balance Rs 5.03 lakh crore in the second half year (H2) of FY 2021-22.
ICRA revises India's FY22 real GDP forecast upwards to 9%
The agency credited the upward revision in the GDP to the brightening prospects for H2FY22 which is expected to benefit from the rapid ramp-up in Covid-19 vaccine administration, healthy advance estimates of kharif output and easing of cash management measures related to the Central government's spending.
Vedanta Aluminium shines at the Perform, Achieve & Trade (PAT) Cycle-II scheme by Power Ministry
Perform Achieve and Trade (PAT) scheme is a regulatory instrument deployed by the Ministry of Power, to reduce specific energy consumption in energy intensive industries with an associated market-based mechanism to enhance cost effectiveness through certification of excess energy savings, which can be traded.
NABARD sanctions Rs 206 cr for 25 road projects in Odisha
The assistance has been sanctioned under the Rural Infrastructure Development Fund (RIDF) for 25 rural road projects in 11 districts across the state, said NABARD's Odisha region office in a statement. The projects with a combined length of 203 km will improve rural road connectivity for 20.48 lakh people in 1723 villages.
Panchjanya calling Amazon as East India Company corroborates CAIT's view
CAIT said that it's a matter of fact that the business model of these two companies are similar to that of East India Company selling goods at a cheaper rate irrespective of the quality dominating their choice and making them habitual of purchasing cheap goods, killing competition and then enter into crony capitalism and monopolise the market in their favour and then selling goods at a higher price.
India, Taiwan in bilateral talks to solve chip shortage; China on its toes
If an agreement is reached between both countries, tariffs on components for producing semiconductors would be reduced significantly by the end of the year. This move will anger China, which considers Taiwan as a part of its sovereign nation. Currently, Taiwan produces 23.75% of the world’s chips.
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