BUSINESS
Dorsey challenges Musk to make everything public now; Twitter CEO responds
Dorsey challenged Musk on Twitter that "if the goal is transparency to build trust, why not just release everything without filter and let people judge for themselves? Including all discussions around current and future actions? Make everything public now". Musk replied on Thursday: "Most important data was hidden (from you too) and some may have been deleted, but everything we find will be released".
LIC can be converted into composite insurer merging 4 PSU general insurers with it
The amendments proposed are: allowing composite insurers -- one insurer selling life and non-life insurance policies; enabling the insurance regulator to fix the minimum capital required and scrapping the statutory limits; changes in the investment norms; allowing different kinds of insurers including captives and others.
Musk briefly loses world's richest man's title to Bernard Arnault
According to Forbes, Arnault and his family logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before reaching around $190 billion. Musk's wealth has fallen $100.5 billion so far in 2022, as per Bloomberg Billionaires Index
Indian-origin investor livid after losing $2 million in FTX crash
Delhi-born Evan Singh Luthra, 27, first invested in crypto with FTX in 2020. He told Fox Business that a legal team representing him is currently pursuing legal action against FTX CEO Sam Bankman-Fried (SBF) for his alleged wire fraud. "This was a con. Sam Bankman-Fried is a fraud. He committed fraud," Evan Singh Luthra said on Fox's "Mornings with Maria".
RBI's inflation control measures turn home loan EMIs inflationary
On Wednesday, the RBI hiked the repo rate by 35 basis points. The repo rate is the rate at which RBI lends to commercial banks. Housing finance companies in turn borrow from the commercial banks and lend to homebuyers. This fiscal, the RBI has increased repo rate by 2.25 per cent and the housing loan companies will pass on the increased rate to their borrowers.
Former BPCL head Arun Kumar Singh appointed ONGC chief
"The Appointments Committee of Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for the appointment of Arun Kumar Singh, ex-CMD, BPCL as chairman, ONGC for a three-year tenure with effect from the date of his assumption of charge of the post," an official order said.
Pakistan to become sixth largest economy in the world by 2075: Goldman Sachs
Goldman Sachs has been projecting long-term growth of countries for almost two decades now, initially starting out with BRICs economies, but for the past 10 years, it has expanded those projections to cover 70 emerging and developed economies. Their latest paper covers 104 countries with projections going as far as 2075.
Indian entities can hedge gold price risk at IFSC: RBI
"With a view to providing greater flexibility to these entities to hedge the price risk of their gold exposures, resident entities will now be permitted to hedge their gold price risk on recognised exchanges in the IFSC. This measure will benefit importers/exporters of gold such as jewellers and industries which use gold as an intermediate or raw material," Shaktikanta Das said.
Digital currency like cash, no need for lack of privacy fears: RBI Governor
He also said the newly launched digital currency was similar to cash and there need not be any fear about lack of privacy.
Announcing the Monetary Policy Committee's (MPC) decision to increase the repo rate by 35 basis points to contain inflation, Das said the UPI has turned out to be the most popular retail payments system in India.
Financial assistance for homebuyers needed to enable smoother home-buying experience
"The rate hike of 35bps to 6.25 per cent by the Reserve Bank of India was on the expected lines. Although it will push the interest rates on home loans, and overall strong talent driven job markets, the coming quarter of 2022-23 remains the best time to invest in all segments of real estate. India's GDP growth forecast from 6.5 per cent to 6.9 per cent, shows a higher elasticity to global shocks and the continued buying power and investments made in the real estate sector, despite the possibility of more repo rate hikes in the coming months," he said.
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