BUSINESS
Rising Trend: Macro-data expected to trigger equities' northward moves
Build-up of investors' hopes on faster economic recovery as well as easing Covid restrictions are likely to trigger this trend. However, rotational profit-booking could induce some volatility during the week ahead. "Nifty could rise some more in the coming week in the absence of any major negatives emerging," said HDFC Securities' Retail Research Head Deepak Jasani.
India offers Cairn Energy $1bn refund
The lower house of parliament on Friday approved a draft law introduced the previous day, cancelling a 2012 policy that enabled New Delhi to tax some foreign investments retrospectively. The upper house is expected to approve the law as early as next week. New Delhi would also drop $13.5 billion in outstanding claims against multinationals such as telecoms group Vodafone.
Fuel price pause remains
Global crude prices have swung in all directions in July starting with a low of $70 a barrel to quickly breaching to $77 a barrel, and then fall below $70 a barrel to crossing $75 a barrel later in the month. The oil prices have softened again to just over $70 a barrel on concerns of growing Covid cases, slowing industrial recovery globally and rising US oil inventory.
PM Modi asks diplomats to showcase India's 'manufacturing prowess' abroad
Addressing the Indian Missions across the globe virtually, Modi also called for close co-ordination among the diplomats, Commerce Ministry, Indian exporters and producers in a bid to boost exports from the country. He was of the view that now is the time to move ahead with targets in terms of 'Brand India'. The Prime Minister said that there is scope to increase the share of exports in the GDP.
IPO/FPO: SEBI eases lock-in norms for promoter shareholding
In its meeting on Friday, the SEBI board decided that the lock-in of promoters shareholding to the extent of minimum promoters contribution (20 per cent of post issue capital) shall be for a period of 18 months from the date of allotment in IPO/FPO instead of existing three years, if the object of the issue involves only offer for sale and if the object of the issue involves only raising of funds for other than for capital expenditure for a project.
Hiring in India surpasses pre-Covid levels in July: Report
The country's premier index on hiring trends grew by 11 per cent in July versus June, to touch 2,625, the highest it has ever been, including the pre-Covid timeline. The rapid digital transformation across all sectors drove up the demand for jobs in the IT sector by 18 per cent, the report showed. July also recorded a higher demand for jobs across all functional areas, with more job options for freshers.
Facebook's justification for banning US researchers inaccurate: US FTC
According to a report in The Washington Post on Thursday, Samuel Levine who is FTC's acting director for the Bureau of Consumer Protection has complained about the action on researchers to Facebook CEO Mark Zuckerberg. "Had you honoured your commitment to contact us in advance.
RBI panel's report on digital lending likely this month
Interacting with the media post the Monetary Policy Committee's meeting, RBI Governor Shaktikanta Das said that the report is in its final stages. "Report of the committee on digital lending is in final stages. That report may be submitted within this month. It took additiaonl time because the committee needed more time for the consultation process," he said.
TASL to manufacture Boeing 737 fan cowls in Hyderabad
TASL will supply 50 per cent of the monthly 737 fan cowl requirements from financial year 2025. Fan cowl doors provide an aerodynamic surface over the fan case of the engine between the inlet and the thrust reverser and protects engine mounted components and accessories.
Bernard Arnault overtakes Jeff Bezos as world's richest person
The French businessman's net worth is estimated at $198.9 billion, as per the Forbes Real-Time Billionaires List. Arnault had earlier become the world's richest person in December 2019, January 2020 and May 2021. As per the latest rankings, Bezos's net worth stood at $194.9 billion while Elon Musk is placed third. Tesla and SpaceX chief Musk's net worth is estimated at $185.5 billion.
Don't Miss
Advertisement