BUSINESS
'Continued vigilance needed to maintain India's external resilience'
"No country can afford to sit on its laurels, India included. Continued commitment to macroeconomic stability will underpin both economic performance and investor interest in India. The latter is very high, currently. It needs to be nurtured.
Chanda Kochhar Money Trail-I: En familia Kochhar is biggest beneficiary
Pacific Capital Services Pvt Ltd is under inspection and a separate report is ready for submission by government agencies. In parallel, NuPower is also under inspection by another investigating officer in the Office of the Ministry of Corporate Affairs Regional Director western region, Mumbai. Ditto with Videocon International under probe by a separate I.O.
Adani group to own 64.71% stake in NDTV after Roys decide to cash out 27.26%
In a regulatory filing, NDTV said that Roys have decided to transfer 27.26 per cent stake out of their 32.26 per cent stake in the company to RRPR Holding. The Roys said in a statement that AMG Media Network, a part of the Adani group, is the single largest shareholder in NDTV now.
Former ICICI Bank CEO Chanda Kochhar, husband arrested for loan fraud
"We had filed an FIR for the offence of forgery, cheating, using fake documents as genuine, hatching a criminal conspiracy and having common intention against the bank officials and the Kochhars," the official said. Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Ltd were also named as an accused in the FIR.
Law on cryptocurrency only after international collaboration, risk evaluation: Government
"Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation on the subject can be effective only with significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards," Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a written reply.
Exports of other cereals records spike, rise 53.78% in November
In November this year, an increase of only 0.62 per cent was registered in the total export of commodities as compared to November last year, but there was a double digit increase in exports of almost all the items of agriculture and food items. A growth of 53.78 percent was registered in the export of various other types of cereals in the month.
PhonePe fully separates from parent company Flipkart
Following the partial separation announced in December 2020, Flipkart and PhonePe are now established as separate entities, the company said in a statement. The PhonePe Group was acquired by the Flipkart Group in 2016. "We are confident PhonePe will continue to scale and achieve its vision of providing financial inclusion to millions of Indians," said Kalyan Krishnamurthy, CEO of Flipkart Group.
Twitter lays off more employees from public policy team
A member of the Twitter public policy team tweeted late on Thursday that she has been laid off. "Yesterday was my last day at Twitter, as half of the remaining Public Policy team was cut from the company. It's hard to convey how fortunate I feel to have had this exceptional opportunity. This was, indeed, a dream job," posted Theodora (Theo) Skeadas.
S&P Global Ratings downgrades Pakistan's credit score
"Pakistan's already low foreign exchange reserves will remain under pressure throughout 2023, barring a material decline in oil prices or a step-up in foreign assistance," S&P analysts Andrew Wood and YeeFarn Phua wrote, The News reported. The country also faces elevated political risks which may affect its policy trajectory over the next year.
India smartphone market to grow 10% to reach 175 mn units in 2023
India currently has more than 600 million smartphone users, a number which is expected to grow over time as more feature phone users migrate to smartphones. The replacement demand from these users will drive the market in 2023 and beyond, according to Counterpoint Research.
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