BUSINESS
Philippines' GDP growth led ASEAN at 7.6% in 2022
Chief of the Philippine Statistics Authority (PSA) Dennis Mapa told reporters here on Thursday that the 2022 gross domestic product (GDP) growth is the highest since 1976, reports Xinhua news agency. The sectors which contributed the most to the growth were wholesale and retail trade, repair of motor vehicles and motorcycles, manufacturing and construction.
Dell acquires Cloud services startup Cloudify for '$100 million'
According to reports, Dell spent close to $100 million in buying the startup to boost its its cloud services business, specifically its offerings in DevOps. A company spokesperson told TechCrunch that Dell Technologies "has completed the acquisition of Cloudify. "This transaction allows Dell to continue to innovate our edge offerings," said the spokesperson.
India top producer of millets, followed by Nigeria, Niger, China
Millets encompass a diverse group of small-grained, dryland cereals, including foxtail, barnyard and fonio, among others. As whole grains, millets are a good source of essential nutrients. These crops, rooted in ancient cultures and ancestral traditions, have long survived harsh growing conditions. Their climate resilience and adaptability offer opportunities for strengthening food security and bolstering economic growth.
Bank of Canada hikes policy interest rate by 25 basis points
The country's inflation declined from 8.1 per cent in June to 6.3 per cent in December, reflecting lower petrol prices and, more recently, moderating prices for durable goods, the Bank of Canada said, adding that despite this progress, Canadians are still feeling the hardship of high inflation in their essential household expenses, with persistent price increases for food and shelter.
'Budget should be pet, poultry and industry friendly'
"With the 2023 budget, we expect an increase in the healthcare sector which is the need of the hour, especially for animals and some species that are on the brink of extinction. The healthcare sector is important for both humans and animals. The first and foremost area that needs to be focused on is an increase in financial support for veterinary services," said Anushka Iyer, Founder and CEO, Wiggles.
India keeps rank as world's fastest-growing economy with 5.8% rate
The UN's World Economic Situation and Prospects (WESP) report sliced off 0.2 per cent from the 6 per cent gross domestic product growth projection made last May without affecting India's rank as the country faces headwinds from the global economy. Overall, the report said: "Growth in India is expected to remain strong at 5.8 per cent.
Global economy projected to grow 1.9% in 2023: UN report
The UN World Economic Situation and Prospects 2023 report, launched on Wednesday, predicted global growth to moderately pick up to 2.7 per cent in 2024, as some macroeconomic headwinds are expected to begin to subside next year, Xinhua news agency reported. Amid high inflation, aggressive monetary tightening and heightened uncertainties.
As world's fastest-growing economy at 5.8%, India 'bright spot': UN economist
For next year, the UN is projecting a growth rate of 6.7 per cent, a "very high growth relative to other G20 member countries", the group of the large developed and emerging economies headed by India, said Hamid Rashid, the Chief of the Global Economic Monitoring Branch, on Wednesday. Meanwhile in New Delhi, India's President Droupudi Murmu credited India's economic performance to its leadership.
K.M. Birla, Sudha Murty conferred Padma Bhushan
Other Padma Bhushan awardees include novelist, philosopher and screenwriter S.L. Bhyrappa of Karnataka. His novels are unique in terms of theme, structure, and characterisation. Bhyrappa has been among the top-selling authors in the Kannada language and his books, translated into Hindi and Marathi, which have notched good sales.
AI 'pee-gate': Jyotiraditya Scindia's intervention sought to revoke suspension of pilot's licence
"Prima facie, there was no effort on the part of the DGCA to conclude its own independent enquiry to establish facts on the basis of credible evidence and nor was the suspended licence holders was given an opportunity to be heard by his own employer's internal complaint committee," said the letter written to the Minister on Wednesday.
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