BUSINESS
2023 could witness milder global slowdown, says RBI report
In its monthly bulletin for the month of February which was released on Friday, the central bank said: "In India, domestic consumption and investment stand to benefit from stronger prospects for agricultural and allied activities, strengthening business and consumer confidence, and strong credit growth."
'Need full transparency', SC's no to Centre's sealed cover suggestion on Hindenburg-Adani row
A bench headed by Chief Justice D.Y. Chandrachud said the court will select experts and maintain full transparency, and if the court were to take names suggested by the central government then it would amount to a government constituted committee. The bench, also comprising justices P.S. Narasimha and J.B. Pardiwala, said the court wants.
Global fintech investment nosedives in 2022, payments space shows top growth
Payments space remained the strongest fintech sub-sector globally, attracting $53.1 billion in total investment, according to KPMG's 'Pulse of Fintech H2-2022' report. The sharp drop-off in fintech investment between the first half of 2022 and the second half -- from $119.2 billion to $44.9 billion -- highlights the rapidly shifting market conditions much more clearly.
US sues Terraform, its founder with defrauding investors in mega crypto fraud
According to the SEC's complaint, from April 2018 until the scheme's collapse in May 2022, Terraform and Kwon raised billions of dollars from investors by offering and selling an inter-connected suite of crypto asset securities, many in unregistered transactions. According to the SEC's complaint, Terraform Labs and its co-founder Do Kwon "perpetuated a fraudulent scheme.
Lenovo logs $400 mn quarterly revenue across portfolios in India
With total revenue of over $400 million across all Lenovo portfolios in India in Q3, the company continues to see good growth in the country. We are committed to investing in capability building to deliver for our customers beyond end-point devices and achieve our service-led transformation objectives with a broad suite of pocket-to-cloud offerings.
After power tariff hike, SL Prez allows relief for some with $100 mn Indian credit line
President Wickremesinghe has issued a directive to the Power and Energy Minister and the state-run power supplier, Ceylon Electricity Board (CEB) to provide concessions to low-income groups against the major tariff hike for electricity. He also has instructed to provide solar rooftop systems for the places of religious worship, state-run schools and vocational training.
Steel production to be doubled to 300 MT per annum by 2030: Scindia
Addressing the Global Zinc Summit, he said that the Indian Railways and Steel Authority of India Ltd (SAIL) are working together to produce corrosion free steel. "With anti-corrosion features and quality to prevent oxidation in steel products, zinc has tremendous marketing potential for sectors like renewable energy and rural electrification.
Air India also has 370 options, purchase rights from Airbus, Boeing
Terming the order as a "landmark moment" in the Indian aviation history, Air India's Chief Commercial and Transformation Officer Nipun Aggarwal said: "This order of 840 aircraft has been a culmination of a fascinating journey that began almost two years ago with the Air India privatisation process."
State EV policies need better implementation mechanisms: Study
The study by New Delhi-based Climate Trends "Analysis of State Electric Vehicle Policies and Their Impact", has assessed the comprehensiveness of these state EV policies based on 21 parameters that cover targets and budget allocations, demand side and manufacturing incentives, and focus on fleet electrification, charging infrastructure mandates and job creation.
Steel production to be doubled to 300 MT per annum by 2030: Jyotiraditya Scindia
India currently is the fourth largest producer of zinc in the world and 80 per cent of zinc produced in India is consumed domestically, the minister said. India has already emerged as the second-largest steel producer in the world and its per capita steel consumption has gone up from 57 kg to 78 kg during the last nine years, Scindia said.
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