BUSINESS
Setback to Nirav Modi as UK HC bars him from moving Supreme Court
The judgement order was pronounced at the Royal Courts of Justice, London. Now, once extradited, he will have to face trial in an Indian court. Lord Justice Jeremy Stuart-Smith and Justice Robert Jay, refusing any relief to Modi, held that he cannot move the Supreme Court for relief.
Central banks in Europe join US Fed in slowing down pace of interest rate hikes
The Bank of England and the European Central Bank both hiked rates by half a percentage point on Thursday in their final meetings of the year. Previously, they had gone with increases of three-quarters of a percentage point. But they insisted that the fight to tame inflation isn't over, despite the risk that further rate hikes next year will pile pressure on a slowing economy, CNN reported.
Government to unveil third, fourth tranches of sovereign gold bond scheme 2022-23
The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Ltd (SHCIL), Clearing Corporation of India Ltd (CCIL), designated post offices and recognised stock exchanges, namely the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd.
Capital outlay of nearly Rs 98K cr for expansion of airport infra in next 5 years
Minister of State for Civil Aviation, Gen V.K. Singh (retd) told the Lok Sabha, in a written reply, that upgradation or modernisation of airports' infrastructure is a continuous process and is undertaken by the AAI and other airport developers from time to time depending on the availability of land, commercial viability, socio-economic considerations, traffic demand/willingness of airlines to operate to/from such airports.
Binance CEO says deposits returning after mega $1.14 bn withdrawals
Customers pulled billions of dollars of funds from the exchange, amid fears about the state of the cryptocurrency industry following the collapse of FTX and arrest of its former CEO, Sam Bankman-Fried (SBF), from the Bahamas by the US authorities. Changpeng Zhao tweeted that this was "not the highest withdrawals we processed, not even top 5".
India should protect legitimate rights and interests of Vivo: Chinese state media
Whether this Vivo incident can be well resolved will have a strong demonstration effect on a vast number of other foreign companies, said a commentary in the publication, adding that the issue has once again raised eyebrows among Chinese companies about the Indian market, given India's growing restrictions and investigations targeting Chinese companies this year.
Labour market mismatch post-Covid could weaken economic growth: Moody's
While the lasting implications will take time to fully materialise, labour-market scarring and skills mismatches, exacerbated by the effects of the Russia-Ukraine military conflict, could constrain potential growth, the report said.
Number of international airports in country rise to 30: Centre
In a written reply, Minister of State, Civil Aviation V. K. Singh said that during the last seven years, four Greenfield airports -- Kannur in Kerala, Shirdi in Maharashtra, Kushinagar in Uttar Pradesh and Mopa in Goa -- have been constructed as international airports.
Pakistan caps foreign currency carrying limit for outbound travellers
A recent FBR notification showed that the board has also capped the annual limit of foreign currency for outbound passengers to $30,000 or equivalent for the same age group, reports Xinhua news agency. The limit for people below 18 years old has been fixed at $2,500 per visit and $15,000 annually, according to the FBR.
OYO launches 'Super OYO' in more than 70 cities in India
Consumers can now see hotels marked 'Super OYO' while booking through the OYO App. Currently, there are around 200+ Super OYOs available on the site and the company will encourage other hotels on its platform to work towards achieving this highly selective moniker and becoming a part of this exclusive category.
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