BUSINESS
'Achieving $5trillion economy target possible only by 2030'
The banks' officials are learnt to have told the Parliamentary panel that around 10 per cent GDP growth is needed to achieve the $5 trillion dollar economy target before 2030. However considering the prevailing global economic situation, this growth rate does not look possible, the banks' officials are learnt to have said.
2023 a challenging year for emerging markets: Moody's
"Our negative outlook on credit conditions for EMs will permeate to sovereigns, companies and banks. Although higher-rated EM issuers have the credit fundamentals to weather the turn in the cycle, weaker entities with ratings of B or below are vulnerable given their limited financing options and reduced capacity to absorb shocks," the credit rating agency said.
India's TWS shipments double in Q3, boAt leads: Report
According to Counterpoint Research, boAt grew 128 per cent (year-over-year) to mark its nine successive quarters of lead, while Noise stood second for the fourth consecutive quarter, and OnePlus bounced back strongly in the top-five rankings with a 6 per cent share in Q3.
Nirmala Sitharaman exhorts NIIF to leverage India's investment fundamentals
The finance minister Nirmala Sitharaman exhorted the NIIF team to also explore opportunities under the National Infrastructure Pipeline, PM GatiShakti and National Infrastructure Corridor, which include a big pool of investible greenfield and brownfield investment projects.
Apple rolls out redesigned iCloud.com website
The website now features a colourful background with tiles for the Apple ID account, Photos, Mail, iCloud Drive, Calendar and Notes, reports MacRumors. Additionally, there is a tile with icons for additional applications such as Find My, Pages, Numbers, Keynote and more.
India PC market nosedives 11.7% as consumer demand slows down: Report
According to new data from the International Data Corporation (IDC), all segments declined except the government, which grew by 91.5 per cent YoY as government orders materialised, leading to strong growth for the third consecutive quarter. "With schools and colleges opening, the consumer segment is seeing tapering demand for the past few months as demand for remote learning has come to a standstill," said Bharath Shenoy, Senior Market Analyst, IDC India.
Indo-Canadian firm to raise C$400 mn by 2022 end
The Brampton-based equipment financing source, which provides loans and leasing options for a wide range of transportation, construction, industrial and commercial equipment, had raised C$250 million last year.
Centre hikes windfall tax on domestic crude oil
The tax on crude oil produced by State-owned ONGC was hiked to Rs 10,200 per tonne from Rs 9,500 per tonne, with effect from Thursday, according to a notification.The revision in windfall tax is done every fortnight.The government has also reduced the rate on export of diesel to Rs 10.5 per litre, from Rs 13 per litre.
ECB warns of financial stability risks in euro area
The persistence of high inflation is currently the biggest threat to financial stability and growth, de Guindos said, adding that the ECB's monetary policy should be geared to achieving price stability. As it is becoming more difficult for companies and households to repay their debts in the deteriorating environment, banks could face higher loan defaults in the medium term, the ECB said in its report.
I don't want to be CEO of Twitter or any company: Elon Musk
Musk made the comment during a testimony at a trial in the US on Wednesday, challenging his controversial pay compensation package at Tesla. "I frankly don't want to be the CEO of any company," he said, reports The Verge. "At SpaceX, it's really that I'm responsible for the engineering of the rockets and Tesla for the technology in the car that makes it successful," he was quoted as saying.
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