BUSINESS
Pawan Hans' EoIs submission deadline extended to February 18
The original deadline for the submission of EoIs was January 19. After repeated failed attempts to disinvest public sector helicopter service provider, Pawan Hans, the Central government again initiated the process of its sale for the Mini Ratna company last month with the release of the Preliminary Information Memorandum.
Bank credit to manufacturing muted amid pandemic
According to the Financial Stability Report of the Reserve Bank of India for January, credit growth in the manufacturing sector in October 2020 contracted by 2 per cent, while that in construction witnessed a growth of 5.1 per cent and credit to trade, hotels and restaurants was up 13.9 per cent.
Share Market: New-age insurance, green energy stocks in queue for Nifty50 entry
The report cited ICICI Lombard, Adani Green and Info Edge as major contenders to get into the benchmark index in times ahead. It said that Nifty50 on the National Stock Exchange (NSE) continues to add consumer names. Tata Consumer Products is likely to enter the benchmark index in the next reshuffle in March replacing GAIL, it added.
Huawei to open its biggest flagship store in Saudi Arabia
Huawei has signed a leasing contract with Saudi Arabia's 'Kaden Investment' for the store that would allow the Chinese company to have direct access to consumers. With the growing demand for digital products and services in the country, Huawei could directly contact consumers, reports Gizmo Alpha. Saudi Arabia expects that by 2022, its internet usage would reach 82.6 per cent of the population from 73.2 per cent in 2017.
China to become world's largest Internet of Things market in 2024: Report
China's spending on IoT is expected to reach around $300 billion by 2024, with the compound annual growth rate to stand at 13 per cent in the next five years, data from global market research firm International Data Corporation (IDC) showed. In 2024, the country's spending on IoT will account for 26.7 per cent of global spending in the sector, followed by the United States at 23.8 per cent and western Europe at 23.4 per cent, IDC data showed.
Will agitate against complex, arbitrary GST system: CAIT
According to CAIT, the GST has become a hurdle in the smooth retail trade because of the complexities and arbitrariness of its provisions. In a statement on Sunday, the traders' body said that it will convene a three-day conference of trade leaders of all states from February 8-10 at Nagpur to chalk out the future course of action. About 200 prominent trade leaders from across the country are likely to participate.
Rising trade deficit to dampen rupee's prospects
"The 25-month high trade deficit may put brakes for strong rupee appreciation. Equity markets also look stretched and a cool-off looks imminent now. Eyes will be on the budget and the ballooning fiscal deficit, which can be a challenge for the local currency," said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities.
ONGC's plan to merge MRPL with HPCL may have to wait till FY24
The process is now expected to be completed by FY24 as ONGC has decided to consolidate its refining and petrochemicals business around MRPL first before pushing for its merger.
Bill Gates is America's biggest farmland owner
Bill and Melinda Gates amassed 242,000 acres of land in the US, with the largest holdings in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588 acres), according to The Land report.
RBI remains 'steadfast' to take necessary steps to support economy: Guv
Delivering the Nani Palkhivala Memorial Lecture on Saturday, Das said that RBI's principal objective during the pandemic was to support economic activity and the policies have helped in easing the severity of the economic impact of the pandemic.
Don't Miss
Advertisement