BUSINESS
Economic survey to be presented in Parliament on Tuesday
The Economic Survey, which is prepared by Chief Economic Adviser V. Anantha Nageswaran, will be tabled in Parliament by Finance Minister Nirmala Sitharaman, soon after President Droupadi Murmu's address to both houses of Parliament. As per convention, the Economic Survey is presented every year a day before the announcement of the Union Budget.
Tesla's vehicle deliveries to exceed 1.7 mn units globally in 2023
Tesla's strong fundamentals are expected to keep the company ahead of most other electric vehicle brands globally. Tesla announced price cuts this month, which has resulted in the demand ballooning to twice the production, according to Counterpoint Research. Besides, pilot production of the Tesla Semi began in 2022 and the vehicle is expected to hit the road soon.
LIC to talk to Adani Group over Hindenburg Research report: Report
"Presently there is a situation that's emerging and we are not sure what is the factual position ... Since we are a large investor we have the right to ask relevant questions and we will definitely engage with them," LIC Managing Director Raj Kumar was quoted as saying by Reuters.
Apple sells 2 mn iPhones in India in holiday quarter, logs 18% growth
The India market share of iPhones reached 5.5 per cent for 2022, an 11 per cent growth (year-on-year). For 2021, Apple iPhones had logged 48 per cent YoY growth with 4.4 per cent market share in the country. According to the latest CMR data, iPhone 14 series logged 59 per cent market share in Q4 2022, followed by iPhone 13 series at 32 per cent growth.
Moody's withdraws IDBI Bank's credit ratings for business reasons
According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank deposit ratings, Ba2 foreign currency senior unsecured rating, Ba1(cr)/NP(cr) LT and ST counterparty risk assessments (CRA), and b1 baseline credit assessment (BCA) and adjusted BCA.
Affordable housing demand down to 26% in 2022, sector expects boost from Budget
ANAROCK's Consumer Sentiment Survey finds that in 2022, demand for affordable housing has sunk precariously. In 2018, nearly 39 per cent property seekers in the top seven Indian cities were keen on affordable homes priced within Rs 40 lakh. This demand shrunk to its lowest levels in 2022, with just 26 per cent property seekers looking to buy in this budget segment.
Blocked out of system in the middle of call: Sacked Google recruiter
Dan Lanigan Ryan, a recruiter at Google, who spent 1.3 years at the company in Dublin, Ireland, wrote in his LinkedIn post, "Unfortunately, I was laid off from Google along with many thousands of others last Friday". "I did not expect it to come to such an abrupt end, blocked out of the system in the middle of a call," he added.
RazorpayX launches forex service for founders, to empower 1,000 startups
With an annualised run rate of Rs 350 crore under this forex service to date, the company expects it to scale up by 3-4 times in the next financial year. Currently, forex transfers in India towards startup funding are riddled with several gaps, eventually taking up over 2 months in addition to a hefty late submission fee which compounds with each day of delay.
Adani Group hits back with detailed responses to Hindenburg's unsubstantiated accusations
Adani Group's response also raises the questions against the ulterior motives and modus operandi of Hindenburg that has conveniently ignored the Indian judiciary and regulatory framework. The detailed response from Adani Group covered its governance standards, credentials, creditworthiness, best practices, transparent conduct, financial and operational performance and excellence.
LIC net gains from holdings in Adani Group at Rs 27,300 crore
LIC's total investment in Adani shares has been at Rs 28,400 crore. The value of these shares before the crash of last week was Rs 72,200 crore. The crash happened because of a research report by short seller, Hindenburg Research. Still, the value of Adani Group shares held by LIC is at Rs 55,700 crore and LIC's net gain is Rs 27,300 crore.
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