BUSINESS
Inflation hits 40-yr high in Finland in 2022: Statistics
"Inflation in 2022 was exceptional compared to ... past decades. Similar figures were last seen in the early 1980s," said Kristiina Nieminen, chief actuary at Statistics Finland. The previous inflation record for the 21st century was set during the global financial crisis in 2008
Cryptocurrencies equivalent to gambling: RBI Governor
Addressing a media event here, Das called for a ban on cryptos, saying there is no underlying value in it. Those supporting it call it an asset or a financial product, but there is no underlying value in it, he added. To counter the growth of cryptocurrencies, the central bank recently launched in pilot mode, its own e-rupee or central bank digital currency (CBDC).
Piyush Goyal calls upon countries of Global South to help build resilient supply chains
Addressing the virtual Voice of the Global South summit, Piyush Goyal said that India is providing unilateral duty-free market access to least-developed countries (LDCs) since 2008 through the duty-free tariff preference (DFTP) scheme, and therefore it is also open to enter into preferential trade agreements (PTAs) with interested countries in the South.
Great opportunity to look at sectors like green hydrogen: G20 Sherpa Amitabh Kant
"The stars are aligned in favour of India," he said while referring to India's G20 presidency while delivering the third annual lecture of Public Affairs Forum of India. With the G20 summit scheduled to take place in September in Delhi, Kant said India holds an advantage in terms of demographics, digitalisation, decarbonisation and deglobalisation to be a major power and become a voice of the Global South.
CCI order strikes a blow to accelerating digital adoption in India: Google
Google said that foundational disruptions at this stage could set us back years and undo the deep investments and effort made by original equipment manufacturers (OEMs), developers, and the industry overall. "It is a crucial moment for India - and our hope is that we, along with all the stakeholders of this vibrant ecosystem, can continue to build on top of this foundation," said the company.
China to take 'golden shares' in two of its biggest tech firms Alibaba and Tencent
Beijing's move marks a shift away from imposing hefty fines and sanctions in its two-year tech crackdown, which was launched after Alibaba founder Jack Ma criticised regulators. The crackdown has proved tumultuous for Chinese tech firms, with billions wiped off their value, and moves including blocking the flotation of Ma's financial services firm, Ant Group, which would have been the world's biggest IPO, The Guardian reported.
Gold shines brighter on Friday as prices rise
According to Quantum AMC's Fund Manager- Alternative Investments Ghazal Jain, gold prices are on uptrend since November 2022 amid moderating US CPI numbers and anticipation of a less aggressive Federal Reserve. The US dollar as well as US yields have begun to cool off, which has been supporting gold.
Wipro posts Rs 30.5 bn as Q3 net
The company board at their meeting on Friday declared an interim dividend of Re 1 per equity share. Wipro had earned a revenue of Rs 232.3 billion (Q3FY22 Rs.203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion). According to CEO and Managing Director Thierry Delaporte, the margins improved by 120 basis points and the employee attrition moderated for the fourth quarter in a row.
India to see investment worth $58 bn in 2023 as Chevron, Total keen: Hardeep Puri
Addressing the Voice of Global South summit, he said that the government is expecting an investment of around $58 billion in exploration and production (of oil and gas) by this year as many companies like Chevron, ExxonMobil, and TotalEnergies are interested in investing in the country's exploration and production sector.
Tesla cuts EV prices in US, Europe amid poor sales, stalled growth
The least expensive EV, the Model 3 RWD, has dropped from $46,990 to $43,990, reports Engadget. Moreover, the 5-seat Model Y Long Range's price decreased 20 per cent from $65,990 to $52,990. As a result, the latter model is now eligible for the $7,500 US Federal Tax Credit, resulting in a final price reduction of $20,500 which is more than 30 per cent.
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