BUSINESS
At 7.2%, India's GDP numbers higher than expected: NSO
According to NSO, which comes under the Ministry of Statistics and Programme Implementation, the growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22. The GDP growth during the fourth quarter of 2022-23 was at 6.1 per cent, NSO said.
Government received Rs 1,70,501 crore in April as revenue
Non-debt capital receipts consists of recovery of loans of Rs 592 crore and miscellaneous capital receipts of Rs 9 crore. An amount of Rs 59,140 crore has been transferred to state governments as devolution of share of taxes by the Central government upto this period, which is Rs 11,548 crore higher than the previous year.
Indian stock markets go down after four days of uptrend
The Sensex of the BSE opened at lower note at 62,839.97 after closing at 62,969.12 on Tuesday. After touching a high of 62,876.77 points, it closed at 62,622.24 points, down by 346.89 points. Similarly, the Nifty 50 of NSE opened at 18,594.20, after closing at 18,633.85 points on Tuesday. It touched a high of 18,603.90 and closed at 18,534.40 points.
Twitter's worth down to just $15 bn under Musk: Report
Twitter has struggled financially since Musk took over. The financial services giant Fidelity estimated in its monthly report of portfolio valuations that Twitter is now worth just one-third worth of what Musk paid for the micro-blogging platform, reports Bloomberg.
Adani Ports Revenue and EBITDA jumps over 20% in FY23
Over the last 5 years, APSEZ's revenue and EBITDA have grown at a CAGR of 16-18 per cent, while the company's domestic market share jumped 800bps to 24 per cent in FY23. APSEZ did record investments of around Rs 27,000 crore in FY23, which includes six major acquisitions totaling around Rs 18,000 crore and organic capex of around Rs 9,000 crore.
Bezos prepares prenuptial pact with Sanchez to protect his $138 bn fortune
The engagement has now given their lawyers a riveting task, reports Hello! Magazine. "Following his divorce with Scott, which cost him $38 billion due to the lack of a prenuptial agreement, Bezos is likely to opt for extensive legal measures to protect his $138 billion fortune,
Indian bourses continue their upwards trend on Tuesday
The Sensex of the BSE crossed the 63,000 mark to touch a high of 63,036.12 points after opening at 62,839.85 points. It closed at 62,969.13 points, up by 122.75 points. Incidentally, the Sensex all-time high was 63,583.07 points achieved on December 1, 2022. Equity benchmark indices extended their winning streak.
Air India passenger assaults crew member on flight
In a statement issued by Air India, the airline said that a passenger on their flight AI882 on May 29 behaved in an unruly manner. "The said passenger verbally abused the crew members and then went on to physically assault one of them on board. On landing at Delhi airport, the passenger continued with the unprovoked, aggressive behaviour," said the Air India spokesperson.
Structural reforms to be sustained for improvement of India's medium term growth potential: RBI
The central bank said this in its annual report for 2022-23 citing the slowing of the global economic growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system. "It is mportant, therefore, to sustain structural reforms to improve India's medium-term growth potential," the annual report notes.
CoinSwitch facilitates nearly $25 mn in funding to 12 Web3 startups
The fund, launched under CoinSwitch Ventures last year, empowers early-stage startups developing Blockchain-based solutions for the Web3 landscape. In less than nine months, the fund has expanded its VC investor network from six to over 70 participants, the company said in a statement.
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