BUSINESS
Even $10 billion buyback plan fails to check slump in Alibaba Group’s shares | 5 points
There has been a continuous crackdown on Jack Ma’s e-Commerce empire by the Chinese authorities ever since he criticised governments regulatory policy claiming that these guidelines are gagging innovation.
Pakistan to buy costliest LNG amid increasing gas shortage
The Pakistan LNG Limited (PLL) has received high bid at 32.48 per cent of Brent with a gap of 31-days between tender opening and advertisement. LNG supplies were invited to bid for the supply of at least two LNG cargoes on delivered former ship bases at Port Qasim in Karachi, which attracted extremely high bids from two LNG cargoes for February 15-16, 2021, and at least four LNG suppliers for February 23-24, 2021.
Reliance Group refutes false and mischievous campaign on RCOM in social media
The statement said - It is being falsely and mischievously stated in a section of social media that RCOM Group of companies owe Rs. 86,188 crore to Indian banks and financial institutions. As per figures certified by the Resolution Professional appointed by the lenders, the RCOM group owed Rs.26,000 crore to Indian banks and financial institutions as on the date of filing before the NCLT.
Amazon invests Rs 11,400 crore in India in FY2019-20
The e-commerce giant has been investing millions of dollars towards promotions, building infrastructure and logistics as it woos customers to shop online, has seen its losses mount on account of higher expenses.
GST revenue expected to exceed Rs 1 lakh crore in December
Revenue from the tax has been on an uptrend after staying in contraction mode for six months since March because of the Covid-19 pandemic and the 68-day nationwide lockdown.
Indian economy could prove to be ‘most resilient’ in subregion over long term: UN
FDI inflows have been steadily increasing and positive, albeit lower, economic growth after the pandemic and India’s large market will continue to attract market-seeking investment,” the report said.
Sensex pares gains after touching fresh record high
The BSE Sensex touched an all-time high of 47,807.85 points during the initial trade before shedding the initial gains. Around 9.40 a.m., it was trading at 47,579.80, lower by 33.28 points or 0.07 per cent from its previous close of 47,613.08.
Overall auto segment's YoY wholesales expected to grow, barring few
As per the report, in December 2020, wholesale volumes are estimated to grow at 14.4 per cent for two wheelers on a low base and 5.4 per cent for passenger vehicles due to the year-end sales. Similarly, wholesale volumes for tractors are expected to grow. The volume is expected to zoom by 38.4 per cent YoY on robust demand and lower base.
Tata Sons to buy 32.67% stake of AirAsia Group in AirAsia India
The budget airline is a JV in which Tata Sons owns 51 per cent stake, while 49 per cent is held with AAIL. After the transaction, Tata's shareholding will go upto 83.67 per cent, while that of AAIL will come down to 16.33 per cent. In a regulatory filing made to Bursa Malaysia, AirAsia Group Berhad said the transaction via a share purchase agreement with Tata Sons was agreed by AAIL's Board.
Banks' GNPA ratio declines to 7.5% at September-end: RBI report
As per the report on 'Trend and Progress of Banking in India 2019-20', the SCBs' gross non-performing assets (GNPA) ratio declined from 9.1 per cent at end-March 2019 to 8.2 per cent at end-March 2020 and further to 7.5 per cent at end-September 2020.
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