BUSINESS
SME loan delinquencies to increase for Indian finance companies: Moody's
According to Moody's, though the RBI has paused its rate hike cycle in April, the hikes effected over the past year have increased funding costs for non-banking finance companies (NBFCs). As their funding costs have risen, NBFCs have increased interest rates for loans against property (LAP) to small and medium-size enterprise borrowers, which is heightening repayment and refinancing risks for these loans.
India saw 88 bn payment transactions worth Rs 150 tn in 2022, UPI leads
The UPI Person-to-Merchant (P2M) and Person-to-Person (P2P) are the most preferred payment modes among consumers with a market share of 40 per cent and 44 per cent, respectively, in terms of transaction volume (UPI was 84 per cent in total).
Gold prices may test $2,020: Emkay Global
A higher probability is for gold to test the $2,100 level again and break through the same, Emkay Global added. "The only factor that may dilute this move (touching $2,100) would be a strong Dollar on the Dollar Index, and a more prolonged interest rate up-cycle. It is a bit too early to make any safe conclusions on this as geo-political conditions are not settled as yet, and market volatility is still rising," Emkay Global said.
Vedanta joins 20 Korean display firms for electronics manufacturing hub in India
The MoUs were signed at the recently-concluded 'Korea Biz-Trade Show 2023' event organised by KOTRA, the state-funded trade and investment promotion organisation operated by the South Korean government, in collaboration with Korea's Ministry of Trade, Industry and Energy.
BetterPlace acquires Malaysia-based TROOPERS to empower gig workforce
The acquisition marks BetterPlace's second major move this year, following its majority stake acquisition of blue-collar workforce fulfillment platform MyRobin in Indonesia earlier this year. The acquisition, for which the financial details were not disclosed, of TROOPERS will accelerate its presence in the region and establish a stronger foothold in Southeast Asia, BetterPlace said in a statement.
Apple previews its 1st retail store in India, to open for public on Tuesday
Located at Mumbai's bustling Bandra Kurla Complex (BKC) financial, arts, and entertainment district, Apple BKC -- to be thrown open for public on Tuesday -- will help customers explore company products and services, enjoy exceptional service, and learn how to get more out of their devices through free Today at Apple sessions. "Apple BKC is a reflection of Mumbai's vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community," said Deirdre O'Brien, Apple's senior vice president of Retail.
Excited to build on Apple's long-standing history in India: Tim Cook
Apple completes more than 25 years in India this week and the tech giant will open two own-branded retail stores -- at Jio World Drive Mall in Mumbai and at Select CityWalk mall in Saket, Delhi. "India has such a beautiful culture and an incredible energy, and we're excited to build on our long-standing history -- supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity.
Reliance Industries to announce Q4 results on April 21
"Reliance Industries Limited has informed BSE that the meeting of the Board of Directors of the Company is scheduled on April 21, inter alia, to consider and approve the standalone and consolidated audited financial results of the Company for the quarter/year ended March 31, 2023," RIL said in a stock exchange filing.
India-US trade rose by 8% in 2022-23, fell 1.5% with China
The growth in bilateral trade between the two countries is significant, considering the fact that in 2020-21, it was only $80.51 billion, according to Commerce Ministry data. Exports to the US rose by 2.81 per cent to $78.31 billion in 2022-23 as against $76.18 billion in 2021-22, while imports grew by about 16 per cent to $50.24 billion.
Protecting, restoring ecosystem can mitigate climate change impact: Bhupender Yadav
Speaking at the plenary session at the G7 ministers' meeting on climate, energy and environment in Sapporo in Japan, he said it is important that issues related to climate change in tandem with environmental action are dealt with holistically. "We do hope that this is at the core of deliberations of this meeting of the climate, energy and environment ministers of the G7 countries," he added.
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