BUSINESS
Money laundering via illicit trade hovering at 5% of India’s GDP: FICCI study
A report released by the FICCI on Thursday based on data from international agencies states that the impact of India’s illicit financial flows works out to around 5 per cent of the country’s GDP.
X will be profitable in 2024 as advertisers return: CEO Linda Yaccarino
Speaking at the Code conference late on Wednesday, she said that since I have now immersed myself in the business, “we have a good set of eyes on what is predictable” and “what’s coming is that it looks like in early 2024, we will be turning a profit”.
Getting weaker by the day in jail, Naresh Goyal tells Mumbai court
Taking cognisance of Goyal’s grievances, the Special PMLA Judge has ordered the Arthur Road Central Jail chief medical officer to submit a status report on his health status since his remand to the jail, by Saturday. Appearing in the court via video-conferencing, Goyal, 74, contended that he was facing several health issues but the jail health authorities were not considering his medical issues nor submitting a report to the court.
Government to sell 50-year bonds for first time
This comes as a major development in the country’s financial sector as a fast-growing middle-class looks for long-term financial security and retirement planning through such investments. The new 50-year bonds, revealed in the borrowing plan released by the Reserve Bank of India on Tuesday, will add to the 30-year and 40-year tenor bonds that are being offered currently.
SAT reserves order on Zee promoter's plea against restrain by SEBI
SAT, reserving the order, directed the market regulator and Goenka to file any written submissions, if any, within a week.
UBS shares plunge as the bank faces widening probe by the US
The Swiss Stock Exchange said it had temporarily stopped trade in the stock, which had fallen as much as 8% before it was suspended, CNN reported.
Indian economy will double in 10 years: Tata Chemicals CEO
Addressing the 50th National Management Convention organised by All India Management Association (AIMA), he said that if India can build capacity in new economic areas, its GDP will double in a decade.
Mobile phone exports from India cross Rs 45,000 cr in April-Aug period, Apple leads
As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), accessed by IANS, the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.
Nomura sees softness in Indian markets driven by higher oil prices as opportunity to raise exposure
“We see recent softness driven by higher oil prices as an opportunity to raise exposure. While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long. Valuations are expensive but will likely remain so in a scenario of policy/government continuity," Nomura said in a report.
IT Department searches offices of Chinese electronic giant Lenovo in Mumbai, Bengaluru, Gurugram
"Yes, the teams of the IT Department are carrying out searches at premises of Lenovo in Mumbai, Gurugram and Bengaluru," an IT Department source told IANS.
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