BUSINESS
Union Budget lays more emphasis on taking skilling to last mile
The country is expanding investments in modern capex, digitalisation, skilling for youth and expanding support and opportunities for all. Vijendra Katiyar, Country Manager, India and SAARC at Trend Micro said that the budget places a strong emphasis on talent development, digital skills training, and upskilling.
IL&FS initiates interim distribution payout of Rs 3,200 cr in IFIN
As part of the interim distribution, IL&FS Group will be paying a total of Rs 3,200 crore to IFIN eligible creditors, that is being distributed in accordance with the NCLAT approved Revised Distribution Framework. Of the total of Rs 3,200 crore, approximately Rs 2,250 crore is being paid to a combination of 28 PSU, Private and Foreign banks .
IRDAI should set up a committee to review its regulations: Experts
They also said the said committee should have representation from all the regulated entities and policyholders. Industry officials told IANS that the Regulations Review Committee (RRC) and the various sub-groups set up by the two insurance councils -- Life Insurance Council and General Insurance Council -- does not have proper representation from major stakeholders.
Chinese finance minister, central bank governor to attend debt roundtable in India: IMF MD Kristalina Georgieva
The meeting will bring together creditors, including traditional lenders from advanced economies, new creditors such as China, Saudi Arabia, and India, as well as representatives from the private sector. The goal of the meeting is to bring all parties together with debtor countries to discuss the issue of debt relief and find a solution that benefits both sides.
India playing vital role in global oil industry by converting Russian crude into West’s fuel: Report
According to the report, the US Treasury officials have two main goals: to keep the market well supplied and to prevent Russia from earning oil revenue. They are aware that Indian and Chinese refiners can make more money by buying discounted Russian crude and exporting the refined products at market prices. This is seen as an acceptable arrangement.
Apple supplier Foxconn reports strong over 48% growth in Jan
The company reported consolidated revenue of NT$ 660.4 billion for January 2023, up 4.93 per cent (on-month) and 48.3 per cent YoY. Revenue in January reached a record high for the same period, said the company, "With operations returning to normal and product shipments increasing at the Zhengzhou campus, revenue in January delivered strong double-digit growth.
Indian startups raised $1.2 bn in Jan, PhonePe & KreditBee lead
According to data by Fintrackr, an arm of startup news portal Entrackr, growth-stage startups witnessed 22 deals worth $926 million in the first month of 2023. Early-stage startups received $265 million across 67 deals while 12 startups did not disclose transaction details. According to the report, the average deal size for early-stage startups was nearly $4 million.
India's economy already 10% more energy efficient than G20 average: IEA
Just hours ahead of Prime Minister Narendra Modi inaugurating the three-day India Energy Week in Bengaluru to showcase India's rising prowess as an energy transition powerhouse, the IEA said the adoption worldwide of the kinds of actions and measures targeted by LiFE (Lifestyle for Environment), including behavioural changes and sustainable consumer choices.
Technology sector cuts most jobs in January in US: Report
It is 440 per cent higher than the 19,064 cuts announced in the same month in 2022, according to a report by global outplacement and business and executive coaching firm, Challenger, Gray & Christmas, Inc. The technology sector announced the most cuts with 41,829, 41 per cent of all cuts, announced in January.
RBI to continue or hit the pause button on rate hike?
According to Pathak, the bond market should react positively. "We expect bond yields to go down gradually though elevated bond supply will limit the downside of yields." Retail inflation for December 2022 fell to a year's low of 5.72 per cent, mainly due to low food prices, especially those of fruits and vegetables.
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