BUSINESS
Resilient demand to push economic growth, says October economic review
In addition to this, the monthly review added that hiring by firms is likely to witness an improvement in upcoming quarters driven by a rebound in new business gains as firms continue to benefit from the lifting of the Covid-19 restrictions and the possible sustaining of the sales momentum witnessed during the festival season.
Foxconn offers $1,400 to each new hire to leave China iPhone factory
The new hires at the world's largest iPhone factory will receive the money if they tender their resignation immediately, reports South China Morning Post. The offer to workers was published by Chinese online media outlet Cailianshe, after violent clashes over allowances and strict Covid-19 measures.
Apple makes about Rs 1.5L every second, Microsoft pockets Rs 1.1L
Fellow tech giants Microsoft and Alphabet (the parent company of Google), as well as Warren Buffet's Berkshire Hathaway, also draw in more than a thousand dollars each second, which works out at over $100 million a day, according to new research by Tipalti, an accounting software financial technology business.
Sensex touches record high at 62,272; Nifty nears 18,500
The BSE Sensex closed at an all-time high of 62,272.68 points, up 762.10 points or 1.24 per cent, on Thursday. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said Indian equities had a stupendous day on the monthly F&O expiry with key benchmark indices touching record levels.
Coal production rose 18% to 448 million tonnes in October
According to official sources, the Coal Ministry is planning to build a 30 million tonnes stock at domestic coal-based plants by the end of this month. This would help in augmenting the stock of thermal power plants to up to 45 million tonnes by March 31, 2023, they added.
Tata Consumer to acquire Bisleri for around Rs 7,000 crore: Report
The current management will continue for two years as part of the deal. Chauhan, 82, has been in indifferent health in recent times and says he doesn't have a successor to take Bisleri to the next level of expansion. Daughter Jayanti isn't too keen on the business, Chauhan said. Bisleri is India's largest packaged water company. The Tata Group "will nurture and take care of it even better," although selling Bisleri was still a "painful" decision, Chauhan said.
MakeMyTrip's B2B platform MyBiz logs 3X growth over pre-Covid period
MyBiz offers services like booking domestic and international flights, hotels in India and overseas, train, cabs, bus, forex, visa and corporate clients. According to the company, MyBiz currently serves more than 6,300 large and mid-market corporates and more than 39,900 small and medium enterprises (SMEs).
Jio Financial Services could be 5th-largest financial services company
Reliance Industries (RIL) recently made an announcement to demerge its financial services business and rename it Jio Financial Services (JFS). RIL would transfer 6.1 per cent RIL shares held by its wholly owned subsidiary to JFS. This clearly shows the grand ambitions the group has in financial services. RIL would transfer 6.1 per cent RIL shares held by its wholly owned subsidiary to JFS. This clearly shows the grand ambitions the group has in financial services.
Wheat prices being closely monitored: Government
Food Secretary Sanjeev Chopra said while addressing media persons that the ban on wheat exports has led to a rise in stock availability. Wheat prices, Chopra said, have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent. He further said that wheat and rice stocks position is comfortable and much above the government's buffer requirements. Government had banned exports of wheat in May this year to boost domestic supplies and control prices.
Tax collections to cross budget estimates in current fiscal, says government
Revenue Secretary Tarun Bajaj was quoted as saying that the growth in tax revenues will continue to be higher than the GDP growth, owing to better compliance. Tax collection target for the current fiscal is pegged at Rs 27.50 lakh crore. Bajaj also that the direct tax collections consisting of personal and corporate taxes would be close to Rs 17.50 lakh crore in the current fiscal.
Don't Miss
Advertisement