BUSINESS
Sri Lanka approves Adani Group's two wind power plants in North
The Board of Investment (BOI) Sri Lanka approved two plants by Adani Green Energy Ltd. at Mannar and Pooneryn, the former war-torn areas in the North, the BOI said on Wednesday. According to the BOI, the two wind power plants of 350 MW which are scheduled to be commissioned in two years, and would be added to the national grid by 2025.
Global growth to decelerate in 2023: RBI monetary policy committee
The six-member panel decided to hike the repo rate by a mandate of four in favour (including RBI Governor Shaktikanta Das) while two were against it. According to the minutes of the MPC meeting, it was felt that the outlook on global growth has improved in recent months, despite the persistence of geopolitical hostilities and the impact of monetary policy tightening by central banks across the world.
Indian stock markets plunge down sharply over fear of new 'Cold War'
The markets reacted adversely following Russian President Vladimir Putin's statements and the threat of war escalation, said Mitul Shah, Head of Research at Reliance Securities. Shah added the crisis in Adani Group stocks worsened as all 10 stocks faced selling pressure. Since the release of the Hindenburg report on January 25, Adani group stocks have lost 60 per cent of their value.
Developers plans to add nearly 25 mn sq ft mall space across top seven Indian cities
Buoyed by the growth, developers now plan to add nearly 25 million square feet of new mall space across the top seven cities over the next 4-5 years, said the report. It said that NCR and Hyderabad account for nearly 46 per cent of the total new upcoming supply, closely followed by Bengaluru at 19 per cent.
DGCA recommends measures for mental health promotion of flight crew, ATCOs
"Stress coping mechanisms, often adopted as a normal human being, may fail in the demanding environs of aviation. Any perceived or real failure to cope with the stressors can have dramatic effects on their mental wellbeing and can negatively impair their professional performance," it said.
Indian workers with digital skills contributing $508 bn to country's GDP
This is attributed to 92 per cent higher salaries that these workers earn compared to those with a similar education who do not use digital skills at work. About 80 per cent organisations in India that employ workers with advanced digital skills report higher annual revenue growth, but 88 per cent of organisations are facing hiring issues, according to the report.
RBI-MPC may go for 25bps policy rate hike in April: Acuite Ratings
In a report, Acuite Ratings expects the RBI to persist with monetary tightening to guard against generalisation of core inflation pressures into a wage-price spiral. "After a hike of 25 bps in Apr-23, MPC (Monetary Policy Committee) could opt for a pause for impact assessment. The stance may change to 'neutral' only after core inflation witnesses a sustained decline to below 5 per cent," Acuite Ratings said.
Indian firms to generate 49% of revenue from digital infra by 2027: Report
India is leading the Asia-Pacific region, with 97 per cent of businesses using or planning to use edge computing in business operations, according to the 'CIO Technology Playbook 2023' by global technology company Lenovo and chip-maker AMD. "With the rise of digital capabilities, businesses are leaning towards data-driven innovation to drive effective business decisions
Aviation sector bringing people closer, says PM
Retweeting Union Aviation Minister Jyotiraditya Scindia's post of India reaching a new milestone in domestic air passenger movement after the Covid pandemic, Modi said: "More airports and better connectivity... the aviation sector is bringing people closer and boosting national progress." Domestic aviation traffic on February 19 crossed the mark of 4.44 lakh as against the pre-Covid average of 3.98 lakh.
Easing inflation, bottoming of rural demand weakness, continuing IT exports seen post Q3 results
In the report, JM Financial said the easing of inflationary pressure, reflected in higher EBITDA margins. While the rural demand has not picked but the weakness has bottomed out. On the services sector front, the report said exports hasn't been affected due to slowdown in the developed economies which bodes well for IT services companies.
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