BUSINESS
First G20 meeting of finance & central bank deputies on Dec 13 in Bengaluru
This meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 presidency, will be hosted jointly by the finance ministry and the RBI. The meeting will be co-chaired by economic affairs secretary Ajay Seth and RBI deputy governor Michael Patra.
2023 smartphone shipments to remain flat amid global slowdown
According to Counterpoint Research, the global smartphone market will see 2 per cent (year-on-year) growth in 2023. Smartphone shipments for 2022 lowered to 1.24 billion units on economic headwinds from the previous forecast.
Markets looking for final burst before year end
This brings us close to the level where the rally must commence again in the next couple of days. If that does not happen, there could be another sharp round of selling which would emerge. This could probably put an end to the expected Santa Claus rally that one is used to seeing in Indian markets. BSESENSEX lost 686.83 points or 1.09 per cent to close at 62,181.67 points while NIFTY lost 199.50 points or 1.07 per cent to close at 18,496.60 points.
Wheat's average wholesale prices records nearly 23% rise over last year
The ministry in a recent parliament reply said that wheat production has declined marginally from 109.59 million tonnes in 2020-21 to 106.84 million tonnes in 2021-22 (4th advance estimates at all India level) and the all India yields of wheat declined in 2021-22 to 3,507 kg/hectare from 3,521 kg/hectare in 2020-21 due to severe heat wave during March and April, 2022 in major wheat growing states like Madhya Pradesh, Bihar, Uttar Pradesh, Haryana, and Rajasthan.
Airports nearly doubled since 2014, more Greenfield airports in pipeline
Prime Minister Narendra Modi will inaugurate the Mopa International Airport, Goa on Sunday for which the foundation stone of the airport was laid in November 2016. Developed at a cost of around Rs 2,870 crore, the airport has been built on the theme of sustainable infrastructure.
BharatPe filed cases because my book 'Doglapan' created panic: Ashneer Grover
Reacting to a follower on Twitter who asked for a free copy, Grover said: "Na bhai - business is business -- kitaab pehle aa gayi thi -- yeh case shase to isliye aaye kyun ki kitaab se sab ki fat li (My book came first and this triggered the cases against him as it created panic for all (at BharatPe)". He, however, did not mention BharatPe directly as to avoid the Delhi High Court's wrath where the hearing is currently on and the next date is in January.
Paytm buyback shows firm believes shares are below intrinsic value, just how Berkshire Hathaway did it in the past
Paytm's announcement has been welcomed by investors and analysts as the company's stock surged sharply during Friday's trading session. While the details of the buyback will be disclosed by the company after the board meeting, social media is already abuzz with speculations about Paytm's move, with some even comparing the company's proposed move to Warren Buffet's Berkshire Hathaway, a top US multinational conglomerate.
V-Guard to acquire Sunflame Enterprises for Rs 660 crore
The all-cash deal is expected to close by mid of January 2023, said a top V-Guard official and it would be funded through a mix of internal accruals and debt. The acquisition is in line with V-Guard's strategy to become a significant player in the domestic Kitchen Appliances segment.
Elon Musk could lose world's richest person title
Shares in the electric car company traded at $340.79 on April 13, the day before Twitter revealed in a securities filing that the
billionaire had made a hostile bid to buy the social media company for $43.4 billion, the Guardian reported. Since then the Tesla share price has plunged by 49 per cent to $173.44, also due to concerns around disruptions at one of its factories in Shanghai.
Instant grocery delivery app Getir acquires rival Gorillas for $1.2 bn
The Financial Times first reported that Getir has closed the acquisition of its competitor. "Markets go up and down, but consumers love our service and convenience is here to stay. The super fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created 7 years ago," Getir Founder Nazim Salur said in a statement.
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