BUSINESS
Repeated rate hikes may impact housing Sector in the short term
The real estate sector had started seeing gradual recovery across key property markets, driven primarily by end-users, however, the repeated rate hikes may impact the interest rate-sensitive sector. Industry experts claimed that low interest rates have been one of the major factors in the resurgence of real estate demand in the last few years and hence the rate hike would mean a hurdle in affordability.
Tim Cook, Joe Biden plan 'make in America' chips at TSMC plant
"These chips will power iPhones and MacBooks, as Tim Cook can attest. Apple had to buy all the advanced chips from overseas. Now we're going to do more of their supply chain here at home," Biden said during an event at the Arizona factory of chip-maker Taiwan Semiconductor Manufacturing Company (TSMC).
Continuing battle against inflation, RBI hikes repo rate by 35 bps
The repo rate, also called the policy rate, is the interest at which RBI lends money to the commercial banks. The RBI Governor Shaktikanta Das, heading the MPC, announced the rate hike and added that the battle against inflation was not over. With this the MPC has increased the repo rate by 225 points this fiscal.
No of unicorns drop to 85 in India as valuations erode amid global turmoil
According to data compiled by Finbold, the US has the highest number of unicorns at 704 while China comes a distant second with 243 unicorns (as of November this year). Despite the general market conditions, several regions are leading in the number of unicorns or private companies valued at least $1 billion.
World looks at India to break China's monopoly on rare earth mining
Industry bodies including the Confederation of Indian Industry (CII) have taken up the issue with the government. A person with direct knowledge on the matter told India Narrative that the government could carve out specific measures in the Union Budget next year. Rare earths comprising 17 elements include cobalt, copper, lithium nickel among others and are critical to reduce dependence on fossil fuels.
India emerged as leading market in past 1 year: Motilal Oswal report
As global market-cap declined by 16.8 per cent ($19.9 trillion) over the last 12 months, India's market-cap rose 3.8 per cent, the report noted. Barring Indonesia and India, all key global markets saw a decline in market-cap over the last 12 months, it added. The research report further said that all major sectors in India ended higher in November.
Financiers prefer wind and solar over coal: Study
The fifth edition of Coal vs Renewable Financial Analysis, authored by Climate Trends and Centre for Financial Accountability (CFA), was released at CFA's annual energy finance conference hosted in collaboration with IIT Madras on Tuesday. While the total funding for new energy projects in 2021 is 60 per cent lower compared to 2017 levels, for the first time since reporting it was found that there was no new project finance for coal power projects in year 2021.
Airlines cut losses in 2022, will return to profit in 2023: IATA
In 2022, airlines' net losses are expected to be $6.9 billion (an improvement on the $9.7 billion loss for 2022 in IATA's June outlook). This is significantly better than the losses of $42.0 billion and $137.7 billion that were realised in 2021 and 2020, respectively, IATA said.
Monday's punishing selloff in US markets could be beginning of next leg lower for stocks
In a note to clients on Monday, Jonathan Krinsky, chief technical strategist at BTIG, said that US stocks were primed to tumble after the S&P 500 bounced off its latest resistance level, which coincided with the index's 200-day moving average, a key technical level for assets.
Pakistan concedes to China's demand for revolving bank account
It also allowed import of 580,000 tonnes of wheat at a price of $372 per tonne, excluding the incidental and transportation charges, which would cost the national exchequer a minimum of $216 million, Express Tribune reported. Wheat import will cost a total of $224 million after including the incidental charges.
Don't Miss
Advertisement