BUSINESS
Cryptocurrency industry hopeful as RBI mulls over digital currency
The RBI made the remarks in a booklet titled "Payment and Settlement Systems in India" released this week. "Private digital currencies (PDCs) / virtual currencies (VCs) / crypto currencies (CCs) have gained popularity in recent years. In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks," said the booklet.
Hero MotoCorp to enter Mexico; targets rapid expansion
The two-wheeler major said following the agreement, both the companies have come together to form one of the largest distribution networks globally to 'sell competitive, high-quality products in the large Mexican market'. As per a company statement, in the first phase of operations, Hero MotoCorp will launch nine products, including motorcycles - for work (100cc), street (125cc), premium (150cc, 160cc) and on-off segments - and scooters.
Govt should eye better collections than raising taxes for funds: Survey
According to the pre-budget survey 2021-22, only 2 per cent of the respondents feel that raising taxes would be the solution to mobilise additional revenue for the government that sees an increase in its expenditure due to the pandemic.
SpaceX, Amazon spar over satellite Internet projects
Amazon's Project Kuiper has the aim of delivering fast, affordable broadband through a constellation of over 3,000 low Earth orbit satellites. SpaceX's Starlink project has similar goals as it plans to deliver high-speed Internet through a network of about 12,000 satellites.
RLDA invites bids for redeveloping Ernakulam railway station
According to RLDA, it conducted the online pre-bid meeting for the redevelopment of Ernakulam Railway Station in which calls for Request for Qualification (RFQ) took place and over 15 participants including Kalpataru Group, Anchorage Infrastructure, I Squared Capital, Adani Group, GMR Group, Omaxe Group and many more attended.
Bear Rampage: Fund outflows dent equities; banking stocks drown
Investors were seen cautious ahead of monthly F&O expiry as well as pre-budget speculations. Accordingly, the two key indices -- S&P BSE Sensex and NSENifty50 -- both fell around 2 per cent with the barometer index falling close to 1,000 points.
2 Indian companies join climate initiative at Davos summit
Run by the Energy Transitions Commission, Rocky Mountain Institute, the 'We Mean Business' coalition, and the World Economic Forum, the Mission Possible Partnership aims to accelerate several pathways for decarbonising heavy industry and transport by unifying the critical actors needed to influence and enable industry transformation at speed and scale.
Sensex plunges 1,000 points, Nifty below 14,000
Around 2.45 p.m., Sensex was at 47,310.81, lower by 1,036.78 or 2.14 per cent from its previous close.The Nifty50 also fell below the psychological 14,000-mark. It was trading at 13,944.25, lower by 294.65 points or 2.07 per cent from its previous close.
Budget 21-22 must set aside threat for India becoming dumping ground for global Al scrap
India has overtaken China as the world's largest importer of aluminum scrap, and the country has been adversely impacted due to recent global developments and US-China trade war further fuelled by China's National Sword Policy measures to cut Scrap Imports substantially with stringent scrap standards and inclusion in restricted list of imports, government quota for import, and 25 per cent tariffs aluminium Scrap imports from USA.
India's smartphone shipments hit over 150 million units in 2020
The high consumer demand post-lockdown, as well as strong promotions on online channels and new uses cases like e-learning and work from home, drove the smartphone market in the pandemic-hit year, said the latest research from Counterpoint's Market Monitor service.
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