BUSINESS
Rice prices soar to highest levels in almost 15 years in Asia
Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008, according to data from the Thai Rice Exporters Association, Bloomberg reported.
EID Parry gives bitter news of Q1 net loss of Rs 45.77cr
In a regulatory filing, EID Parry said during the first quarter of FY24 it had logged an operational income of Rs 698.41 crore (Q1FY23 Rs 719.07 crore) and a net loss of Rs 45.77 crore (net profit of Rs 13.14 crore).
Equity mutual funds saw net inflows dip sequentially in July
Net investments into actively managed equity schemes fell 11.7 per cent to Rs 7,626 crore in July from Rs 8,638 crore in June. SIP inflows stood at Rs 15,242.7 crore during July, a new record high, he added.
BigBasket’s B2B arm Supermarket Grocery Supplies’ losses swell 21%: Report
The unit registered a turnover of Rs 2,261.3 crore for the fiscal year, The Economic Times reported. In FY22, Supermarket Grocery Supplies’ losses were Rs 177.9 crore at an operating revenue of Rs 1,707.2 crore.
Top tech firms seek Nov 1 laptop import restriction deadline extended by a year
In a meeting with the Ministry of Electronics and Information Technology (MeitY) officials on Tuesday, also attended by leading industry bodies the Manufacturing Association of IT Hardware (MAIT) and the India Cellular and Electronics Association (ICEA), the tech companies conveyed to the government they need more time to set up manufacturing units in the country, according to sources.
Indian startups might see funding spring in 6-12 months: Report
Nearly 17 per cent of investors surveyed think the funding winter may end even sooner and the rest believe it would be 12-18 months or more before the funding winter passes, according to the report by Bengaluru-based market research firm Redseer.
China's economy slips into deflation
The official consumer price index, a measure of inflation, fell by 0.3 per cent last month from a year earlier, reports the BBC.
US regulators fine top banks $549 mn over use of WhatsApp, iMessage
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) fined the banks for being unable to produce those “off-channel” employee communications going back to at least 2019. The SEC charged 11 firms for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications.
Focus of market will shift from micros to macros
US CPI print expected soon and the MPC decision on 10th might give indication of the likely market trend. The MPC is likely to hold the rates and retain the stance but the tone is likely to be hawkish since inflation is high and expected to rise in July, V.K. Vijayakumar said.
Have ‘substantial doubts’ about our ability to stay in business: WeWork
The company, which reported a net loss of $397 million for the second quarter over the consolidated revenue of $844 million (up 4 per cent year-over-year) in its second quarter, projected a weak future amid losses, projected cash needs and increased member turnover.
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