BUSINESS
ED Files First Charge Sheet Against Vivo India and Others in Money Laundering Case
The financial probe agency submitted the charge sheet in court on Wednesday, listing Guangwen Kyang (also known as Andrew Kuang), a Chinese national; Hari Om Rai, the Managing Director of Lava International; Rajan Malik; and Nitin Garg, the Chartered Accountant, as accused parties. The comprehensive charge sheet spans 400 pages.
SoftBank Reportedly Considering Sale of Zomato Shares Worth Rs 1,125 Crore
This potential sale comes after SoftBank sold a 1.09% stake in Zomato in October through a bulk deal worth Rs 1,040.5 crore via its venture capital fund SVF Growth. In August, SoftBank also sold a partial stake in Zomato through bulk deals, generating Rs 947 crore.
Steve Jobs Handwritten 1976 Check Fetches Over $36K in Auction
This check, bearing the "Apple Computer Company" account details from a Wells Fargo Bank branch, adds to the growing market for Jobs' signature and memorabilia.
IBA Reaches Agreement with Unions, Secures 17% Increase in Bank Staff Pay
This wage revision, effective from November 1, 2022, will span a period of five years. The IBA and bank unions formalized a Memorandum of Agreement at their meeting, outlining the terms of the agreement. The 17% increase in pay slip cost, additional loading of three percent post-dearness allowance merger, and improved pension for pensioners from 1986, including retirees under the proposed 12th bipartite settlement, were key elements of the agreement.
Sitharaman Encourages India Inc to Harness Start-ups Tech Advancements for Manufacturing Boost
Sitharaman underscored the immense market potential in India, equivalent to that of several jurisdictions combined, emphasizing the rarity of finding such a large market within a single country.
CEA Nageswaran Urges Indian Corporates to Boost Investments Instead of Hoarding Funds
The CEA's message was unequivocal – corporations should proactively invest rather than hoard funds. He warned against waiting for demand to naturally rise before initiating investments, asserting that such a passive approach would only postpone the creation of favorable demand conditions.
India Records Highest Q2 Growth Globally: Statement by Finance Minister Sitharaman
Sitharaman emphasized India's position as the world's second most sought-after manufacturing destination and credited the Make in India program and Prime Minister Narendra Modi's schemes for the sector's significant 13.9% contribution to the economy. She underscored the growth across all sectors, pointing to the Purchasing Managers Index (PMI) in November, which stood at 56, indicative of sustained expansion.
Sarvam AI Secures $41 Million in Funding Led by Lightspeed, Marks Largest Investment for an Indian AI Startup
The company's full-stack approach is expected to accelerate the adoption of generative AI (GenAI) in India, especially for enterprises struggling to leverage its potential. Sarvam AI will focus on training AI models to support diverse Indian languages and voice-first interfaces.
Cautionary Signs: Small and Midcap Stocks in Potential Bubble Territory, Warn Analysts
The research report emphasizes a relative preference for large-cap stocks over mid-caps and small-caps on a top-down basis. While Paharia remains optimistic about the medium to long-term prospects of Indian equity markets driven by strong economic growth, he urges caution due to the recent sharp run-up in markets.
Government Plans Vote on Account on February 1, Sitharaman Hints at No Major Announcements
The vote on account serves as an interim budget, allowing the current government to seek Parliament's approval for necessary expenditures to sustain the country's operations until the new government assumes office.
Don't Miss
Advertisement