BUSINESS
US economic growth in Q4 revised up to 4.3%
"Whether measured by Gross Domestic Product or by Gross Domestic Income, the economy has not yet completely crawled out of the pandemic-induced hole into which it tumbled a year ago," Jay Bryson and Shannon Seery, economists at Wells Fargo Securities, wrote in an analysis on Thursday.
Samsung denies reports of building network equipment plant in India
Foreign media recently reported that Samsung is looking to build the facility in Uttar Pradesh, east of New Delhi, to manufacture 4G and 5G network equipment. They added that the South Korean tech giant applied for the Indian government's production-linked incentive (PLI) scheme to get tax benefits.
RBI flags major concerns over cryptocurrency
Speaking at the Times Network India Economic Conclave, the Governor said that digital currency is one thing and the cryptocurrencies which are being traded in the market is something else. The statement from the central bank governor gains significance as the government is set to come up with a Bill on cryptocurrency wherein it is likely to ban all such cryptocurrencies.
Lok Sabha adjourned sine die, Budget Session cut short by 14 days
The Budget Session was originally scheduled to continue till April 8. The move comes after requests by floor leaders of various political parties to cut it short due to the Assembly elections in West Bengal, Assam, Tamil Nadu, Kerala and Puducherry, which will take place between Saturday to April 29.
Rajya Sabha passes National Bank for Financing Infrastructure and Development Bill
The Bill will enable the establishment of the National Bank for Financing Infrastructure and Development to support the development of long term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.
FY22 growth estimate of 10.5% need not be revised: RBI Governer
"The revival of economic activity which has happened should continue unabated going forward. My understanding and our preliminary analysis show that the growth rate in next year, which is at 10.5 per cent which we had given could not require, I repeat, would not require a downward revision," he said.
Uber joins hands with ScriptDrop for prescription delivery
"Being able to combine ScriptDrop's integrated interface with Uber's technology means that pharmacies of all sizes will be better equipped to improve prescription adherence and serve the most vulnerable of their communities," Amanda Epp, ScriptDrop CEO, said in a statement.
25 e-commerce players to attend today's FDI policy meeting
The meeting through video conference is being held under the Chairmanship of Secretary, DPIIT regarding FDI Policy on the e-commerce sector. The meeting is being attended by e-commerce players, including RIL, Amazon, Udaan, 1mg, Firstcry, Flipkart, Swiggy, Shopclues, Pepperfry, Snapdeal, Urbanladder, Paytm, Nykaa, Naukri, Netmeds, Bigbasket, Tata, Uber, Tata Unistore and Ola.
Government may seek details of interest on interest charged by banks
This follows the Supreme Court's observation given on Tuesday where it noted that the RBI and the government have not provided any rationale for the overall borrower's debt cap of Rs 2 crore for waiver of interest on interest and directed them to provide such relief to borrowers with the overall exposure of over Rs 2 crore as well.
Brent crude futures improve after 4% slump over Covid concerns
The May contract of Brent crude on the Intercontinental Exchange (ICE) is currently trading at $61.50 per barrel, 1.17 per cent higher than its previous close. The improvement in the crude futures comes after they fell over 4 per cent Tuesday, on the back of concerns over new pandemic restrictions in Europe as well as a stronger dollar.
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