BUSINESS
Elon Musk surpasses Bezos, is richest person on the planet
A 4.8 per cent rally in Tesla's share price on Thursday took Musk past Bezos, with a net worth of $188.5 billion, 1.5 billion more than Bezos, who has held the top spot since October 2017. Musk's net worth increased by more than $150 billion this year and Tesla's share price surged a massive 743 per cent last year.
Covid Struck: India's FY21 GDP expected to contract by 7.7%
"Real GDP or GDP at Constant Prices (2011-12) in the year 2020-21 is likely to attain a level of Rs 134.40 lakh crore, as against the provisional estimate of GDP for the year 2019-20 of Rs 145.66 lakh crore, released on May 31, 2020," the First Advance Estimates of National Income for financial year 2020-21 said.
Rising joblessness: India's employment scenario worsens in December
The unemployment rate in the country increased sharply to 9.1 per cent in December from 6.5 per cent in November, as per the data. The numbers indicate that the stress in the economy is far from over and the road to normalcy would be longer.
SBI raises $600mn via 'Regulation S' bonds
Accordingly, the bank, acting through its London Branch, raised the sum for bonds benchmarked against the 5 year US Treasury and priced at a spread of 140 bps over the benchmark. "The bonds will be listed on SGX-ST and India INX. The issuance represented SBI's return to the international public bond markets after a gap of close to 2 years," the statement said.
IL&FS Solar Power clears debt worth Rs 845 crore
ISPL had undertaken construction and financing of a 100 MW AC solar power project in Bellary district, Karnataka, for Embassy Energy Private Limited (EEPL) that was commissioned in February 2018. ISPL had raised secured and unsecured loans for this power project. EEPL, as the owner of the project, was servicing ISPL through an EMI structure under the terms of Deferred Payment Agreement (DPA).
Indian businesses aim to tap consumers directly in 2021: Report
"They are hungry for growth and much more resilient than we could've imagined. Merchants have come to understand the diverse nature of consumers and that innovation is the key differentiator," said Akash Gehani COO & Co-founder, Instamojo.
Brent crude nears $55/bbl post Saudi's supply cut announcement
Further, the violence in Washington as supporters of US President Donald Trump stormed into the US Capitol also added to the rise in crude futures. The March contract of Brent on the Intercontinental Exchange (ICE) was at $54.70 a bbl, higher by 0.74 per cent from its previous close.
Hiring activity recovers in India by 14% in December 2020: Report
The overall hiring at year-on-year level showed a decline of only 10 per cent in December, according to Naukri.com ‘JobSpeak' report. The hiring in the insurance sector grew by more that 45 per cent in December, as Indians felt the need for securing their health and businesses in the post-Covid era.
Elon Musk racing ahead of Jeff Bezos to become world's richest
As of Wednesday, Musk's net worth stands at $181.1 billion, as a 2.8% rally in the electric carmaker's share price boosted him to within $3 billion of Bezos, said the report. Chief Executive Officer of SpaceX, Musk is also known to be a rival to Bezos, owner of Blue Origin LLC in the private sector race.
Petrol price breaches all-time high, tops Rs 84/litre in Delhi
Accordingly, petrol prices in Delhi increased by 23 paise a litre on Thursday, the second successive day of fuel price rise, to Rs 84.20 a litre from Rs 83.97 on the previous day. This is the highest level of retail price of petrol in the national capital after October 4, 2018 when its price had risen to Rs 84 a litre.
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