BUSINESS
FPIs pull out investments worth Rs 8,674cr from Indian equity
This reversal in trend comes around a year after a bull run on the Indian stock market and continuous inflow of foreign investments into the equities. So far in 2021, the net FPI investments into equities stand at Rs 47,068 crore, with net inflows of Rs 19,473 crore, Rs 25,787 crore and Rs 10,482 crore in January, February and March, respectively.
Snapchat acquired Fit Analytics for $124M
Snap acquired Fit Analytics in March and now, a filing has put a price tag on that deal, reports TechCrunch. The filing also revealed that Snap spent a total of $204.5 million on acquisitions in 2020.
Amazon to soon let sellers connect with customers directly
The e-commerce giant is currently testing this new feature called "Manage Your Customer Engagement" that will help sellers contact Amazon users who have specifically chosen to follow a particular company, reports CNBC.
Mi 11 Ultra creates strong buzz in tough India premium market
No doubt that there is a strong buzz around this ‘SuperPhone' in the country, which is aligned with the global markets as it houses some top-of-the-line specifications along with a couple of world's firsts.
RBI imposes restrictions on American Express, Diners Club
These entities have been found non-compliant with the directions on storage of payment system data, said an RBI statement. It added that the order will not impact existing customers. American Express Banking Corp and Diners Club International Ltd are payment system operators authorised to operate card networks in the country under the Payment and Settlement Systems Act, 2007 (PSS Act).
RBI directs banks to halve dividend payouts amid 2nd Covid wave
In a notification to all the commercial and co-operative banks, RBI said that in view of the continuing uncertainty caused by the ongoing second wave of Covid-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital as a bulwark against unexpected losses.
Major donor's link to slave trade, London biz school to change its name
Till such time the educational institution will be known as 'The Business School (formerly Cass)'. The name change is being effected after it was found that some of Sir John Cass's wealth was obtained through his links to the slave trade.
Equity indices flat, metal stocks rise
Around 10.50 am, Sensex was trading at 48,080.77, up by just 0.1 point from its previous close of 48,080.67. It opened at 47,863.81 and has touched an intra-day high of 48,125.57 and a low of 47,743.43 points.
Act against hospitals denying cashless claims to Covid patients: IRDAI
In a circular the Insurance Regulatory and Development Authority of India (IRDAI) told the insurers to take appropriate action against hospitals denying cashless facility as per their agreement. Cashless facility means direct settlement of hospital bills by the insurers.
Fitch Ratings affirms India's sovereign rating at 'BBB-', outlook negative
The affirmation of the negative outlook on India's Long-Term IDRs reflects concerns over high public debt levels and increasing risk to growth from the recent surge in coronavirus cases. "India's rating balances a still strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural factors," Fitch Ratings said.
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