BUSINESS
India 5G phone market to expand over 70 per cent by end of 2023: Report
The India smartphone market recorded more than 13 times growth in its 5G shipments from the year of its initial introduction in 2020. "From a mere 4 per cent in CY2020 to a potential more than 45 per cent market share in CY2023, 5G smartphones have definitely come a long way," said Menka Kumari, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).
Love trashing accounts that you hate? You will see those more: Musk
"Trashing accounts that you hate will cause our algorithm to show you more of those accounts, as it is keying off of your interactions," the billionaire posted. "Basically saying if you love trashing 'that' account, then you will probably also love trashing 'this' account. Not actually wrong lol," he chuckled.
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups
Z3Partners said it has already made five investments in cybersecurity startup Cyfirma, social e-commerce firm DealShare, agri-tech platform Gramophone, SaaS-based logistics management leader Shipsy and AI-led celebrity engagement platform True-Fan. DealShare turned unicorn in 2022 after its $165 million Series E financing round.
Over 1,600 tech employees being fired a day on average in Jan
In 2022, over 1,000 companies laid off 154,336 workers, as per the data from layoffs tracking site Layoffs.fyi. The mass tech layoffs of 2022 are continuing into the new year, and Indian companies and startups are among the leaders in firing staff.
Know the architects of Union Budget
Nirmala Sitharaman will be presenting her fourth Union Budget on February 1. She has helmed the Finance Ministry during the two tumultuous years of Coronavirus pandemic and has piloted several economic relief packages, to help tide over the challenges posed by the pandemic.
Realty industry wants tax and policy related relaxations in upcoming Budget
With interest rates rising, a lot depends on Budget 2023 to support and sustain the housing demand. "The government should rationalise GST rates for construction materials like steel, cement and tiles. Additionally, the government should put aside more funds under the stress fund SWAMIH.
Union budget: Long term capital gains tax likely to be rationalised
This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal. The Finance Ministry is learnt to be looking at ensuring parity between similar asset classes by rationalising the LTCG tax structure and even revising the base year for computing inflation adjusted capital gains, sources aware of developments said.
Financial condition expected to be tighter: CRISIL Ltd
In a report, the credit rating agency said the financial conditions are expected to be tight due to the US Fed's policy rates at a decadal high in 2023 despite the looming recession. S&P Global expects the Fed policy rate to peak at 5-5.25 per cent in April-June 2023, with rate cuts only towards the end of the year.
NFRA issues draft guidelines for transparency reports by auditors
In accordance with Rule 8(2) of the NFRA Rule 2018, NFRA intends prescribing publication of ATR containing certain critical information about the auditor's operational activities, management, governance and ownership structures, and policies and procedures necessary to deliver high-quality audits.
Securitisation growth 42% in nine months this fiscal
According to CRISIL Ratings, the market activity in the quarter ended December 2022 continued the momentum witnessed in April to September period. Activity was broad-based, with wider participation, as the number of originators crossed 120 compared with about 100 in the preceding fiscal.
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