BUSINESS
The 1000-point journey for Sensex jump took 144 sessions
Sensex crossed and closed above 64,000 points for the first time on Friday. The latest 5,000-point milestone took place in 443 sessions or 21.7 months, Sriram said. Sensex CAGR as measured by Price Return Index for the past 20 years stood at 15.5 per cent and by Total Return Index at 17.2 per cent.
UK warns in-depth probe into Adobe’s $20B Figma acquisition
Adobe has five working days to submit proposals to address the concerns else, the investigation will proceed to an in-depth phase 2 review, the UK’s Competition and Markets Authority said in a statement. “This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns,” said the CMA.
UK warns in-depth probe into Adobe’s $20B Figma acquisition
Adobe has five working days to submit proposals to address the concerns else, the investigation will proceed to an in-depth phase 2 review, the UK’s Competition and Markets Authority said in a statement. “This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns,” said the CMA.
Sensex jumps 800 points to record highs on FII buying, monsoon progress
Nifty opened gap up and strengthened throughout the day to close near the day’s high with gains of 213 points (+1.1 per cent) at 19,186 levels. The broader market too participated in the rally with the Nifty midcap 100 at a fresh record high. All sectors ended in the green, except metals, said Siddhartha Khemka, Head-Retail Research, Motilal Oswal Financial Services.
All platforms have to comply with Indian law: MoS IT on Twitter ruling
The court ruled that Twitter's petition was devoid of merit, and also imposed a cost of Rs 50 lakh on the microblogging platform. “All platforms have to be in compliance with the Indian law and Twitter under Jack Dorsey repeatedly refused to do so,” the Minister said in a tweet.
All platforms have to comply with Indian law: MoS IT on Twitter ruling
The court ruled that Twitter's petition was devoid of merit, and also imposed a cost of Rs 50 lakh on the microblogging platform. “All platforms have to be in compliance with the Indian law and Twitter under Jack Dorsey repeatedly refused to do so,” the Minister said in a tweet.
Ensure affordable credit to MSMEs to achieve $1 tn merchandise exports target: Piyush Goyal
He gave these directions during a meeting called recently to discuss the issue of increasing the availability of export credit to the MSME exporters. The meeting was attended by top officials of 21 banks including the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Central Bank of India among others.
Coromandel International acquires majority stake in drone company for Rs 204 crore
According to Coromandel International, its subsidiary Coromandel Technology will acquire a 32.68 per cent stake in the Rs 1.31 lakh equity based Dhaksha and another 18.34 per cent stake from Dare Ventures Ltd, another wholly owned subsidiary. The turnover of Dhaksha for FY 2021-22 was Rs 4.52 crore.
Indian economy presents picture of resilience, robust financial system boosting growth: RBI document
The report, which is a half-yearly report card of financial institutions' health, while presenting an overview of the financial sector, noted: "Sustained growth momentum, moderating inflation and anchoring of inflation expectations, a narrowing current account deficit (CAD) and rising foreign exchange reserves, ongoing fiscal consolidation and a robust financial system are setting the economy on a path of sustained growth."
Visa acquires fintech startup Pismo for $1 bn
Pismo has operations in Latin America, Asia Pacific and Europe. The fintech startup also has some customers in India, Southeast Asia and Australia. With the acquisition, Visa will be positioned to provide core banking and issuer processing capabilities across debit, prepaid, credit and commercial cards for clients via cloud native application programming interfaces (APIs).
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