BUSINESS
Cisco to acquire threat assessment platform Kenna Security
This is the third acquisition by Cisco this week. The company announced its intent to acquire Sedona Systems and Socio Labs earlier this week, but did not disclose financial details. Kenna is the first significant acquisition for Cisco's security business since its $2.35 billion purchase of Duo Security in 2018. Kenna Security is a recognised leader in risk-based vulnerability prioritisation with over 14 million assets
India's forex reserves up by over $1 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $589.465 billion from $588.020 billion reported for the week ended April 30. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
India's April exports rise to over $30 bn
In April 2021, exports grew to $30.63 billion, higher by 195.72 per cent over the $10.36 billion reported in April 2020."As compared to April 2019, exports in April 2021 exhibited a positive growth of 17.62 per cent in dollar terms and 26.17 per cent in rupee terms," an official statement on foreign trade said. As compared to April 2019, the non-petroleum and non-gems and jewellery exports in April 2021 registered a positive growth of 20.47 per cent.
FIDC seeks relief for MSMEs benefited under RBI's Restructuring Framework 1.0
In a letter to RBI Governor Shaktikanta Das, Mahesh Thakkar, the Director General of FIDC said that the second wave of the Covid pandemic has created new uncertainties in the country's economic revival and MSME customers are the most affected category of borrowers, especially in sectors such as education (school and school bus operators), transportation (staff bus and route bus operators) and tourism.
India needs its own crypto unicorns: Experts
Framing an appropriate regulatory framework for cryptocurrencies and crypto assets continues to be a challenge with countries taking differing approaches to find a solution. The government earlier indicated that it would take a ‘calibrated approach' towards digital assets and formulating a Bill on cryptocurrencies. A final decision is yet to be taken.
PNB, DLF, Tata Steel top bought large cap stocks by MFs in April
Inflows into equity funds declined to Rs 3,400 crore compared to Rs 9,100 crore in March but the inflow trend remain, said a report by ICICI Direct. SIP flows are now back at pre-Covid levels with April inflow at Rs 8,590 crore, it said.
Sovereign Gold Bond Scheme 2021-22 to be issued at Rs 4,777 per gm
The government, in consultation with the Reserve Bank of India, has decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors, the issue price of the Gold Bond will be Rs 4,727 per gram of gold.
Covid resurgence subdues equities, auto, metal stocks fall
"Markets have traded on negatively after facing the resistance at higher levels in the market. Traders have taken the cautious route in the market after a lot of agencies have revised their GDP growth target after the second wave in India," said Gaurav Garg, Head of Research at CapitalVia Global Research.
Fuel prices rise sharply again after day's break
In Delhi, petrol now costs Rs 92.34 per litre and diesel is priced at Rs 82.95 per litre up from yesterday's level of Rs 92.05 and Rs 82.61 a litre respectively in the national capital. Across the country as well the petrol and diesel prices increased on Friday but its quantum varied depending on the level of local levies in respective states.
S Korea's logic chip capacity to further shrink as US expands
South Korea was expected to represent 20 percent of global wafer capacity of 10-nanometer (nm) and below nodes this year to rank second in the sector, but its share was projected to decline to 19 percent in 2025 and 17 percent in 2027 to lose its runner-up spot, according to the latest report from market researcher Counterpoint Research.
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