BUSINESS
'This is the moment' to invest in India, Modi tells US biz
The Prime Minister said on Friday that this was the clear message from the technology handshake event at the White House earlier in the day in which he and President Joe Biden met leading CEOs from the US and India, which included Google's Sundar Pichai, Microsoft's Satya Nadella, OpenAI's Sam Alt.
India's forex reserves rise to $596.098 billion
The forex reserves had fallen $1.318 billion in the previous week. Also in the week ending June 16, foreign currency assets rose by $2.578 billion to $527.651 billion. During the week ending June 9, foreign currency assets had dipped by $1.128 billion.
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
In its monthly bulletin for June 2023, released on Friday, it observed on the basis of national accounts data and corporate results, that rising retail inflation has slowed down personal consumption expenditure, which has resulted in scaling down of corporate sales and reduction in private investment towards capacity creation.
Government may consider reducing import duty on wheat to curb rising prices, says FCI Chairman
Food Corporation of India (FCI) Chairman Ashok Meena told media persons that to bring down wheat prices, there are several options available and if need arises, then import duty on wheat may also be reduced. There is 40 per cent import duty on wheat currently.
Twitter resumes paying Google Cloud pending bills under new CEO
According to the Wall Street Journal, she intervened to mend Google relationship and the micro-blogging platform is now paying for Google Cloud services. "Twitter Chief Executive Linda Yaccarino intervened to help repair the relationship between the social-media company and Alphabet's Google, after a payment issue," the report said, citing a person familiar with the matter.
'Gold prices may dip for correction in short term'
According to Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities, prices of gold slightly recovered on Friday, with the spot gold price at Comex trading up by 0.17 per cent at $1,917 per ounce. The gold August future contract at MCX was trading up by 0.10 per cent at Rs 58,255 per 10 grams by noon.
Apple Pay on course to arrive in India soon after initial talks with NPCI
Sources told IANS on Friday that initial talks were done and the Cupertino-based iPhone maker may soon launch its Apple Pay services in India, a country which now sits at the top on the company's global map. The iPhone customers in the country may scan QR codes and perform unified payments interface (UPI) transactions the way they do with other digital payments apps, according to sources.
Only three Indian businessman on White House state dinner guest list
Deadline reported that the guest list for the White House State Dinner for Indian Prime Minister Narendra Modi includes a number of entertainment and media figures, including Netflix's Bela Bajaria, Universal's Donna Langley, director M. Night Shyamalan, Wasserman Media Group's Casey Wasserman and James Murdoch.
Bank of England raises interest rate to 5%
The decision was passed by the central bank's Monetary Policy Committee with an overwhelming majority, Xinhua news agency quoted an official statement as saying. It has been the 13th consecutive rate hike since December 2021 as the central bank is battling stubbornly high inflation, bringing the interest rate to the highest since 2008.
AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility
The tied-up facility will finance two data centres with an aggregate capacity of 67 MW that includes 'Chennai 1' campus with Phase 1 of 17 MW and Noida campus of 50 MW. India is one of the fastest-growing data centre markets in the world, and as per CRISIL estimates the data centre capacity in India is expected to double from ~870 MW in FY22 to 1700-1800 MW by FY25.
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