BUSINESS
SIP contribution crossed Rs 13,000 crore mark in October: Mutual fund industry data
The monthly data showed that SIP contribution of Rs 13,040.64 crore in October was more than Rs 12,976.34 crore in September. Mutual fund folios crossed all-time high at 13,90,77,745 crore and retail mutual funds folios too were at an all-time high at 11,08,00,239 crore.
Adani Green Energy announces H1 FY23 results
The reduction in overall wind portfolio CUF and sale of energy is primarily due to one-off disruption in transmission line (force majeure) for 150 MW plant in Gujarat. The impact of this event in Q2 FY23 is expected to be 0.4 per cent of the expected annual generation of the overall operational capacity. Excluding the aforesaid 150 MW plant, the wind portfolio CUF stands at a strong 41 per cent in H1 FY23.
Twitter's global market share grows by 55% as Elon Musk takes over
According to data compiled by Finbold, a breakdown of the market share indicates that Facebook began the year at 76.85 per cent while in November, the value stood at 67.73 per cent. Elsewhere, in January, Twitter had a market share of 7.16 per cent while as of November, the figure stood at 11.16 per cent.
IONIQ5 to be Hyundai's first model for India under new platform
Driving the pump-to-plug revolution, Hyundai will pioneer the development of future electric vehicles with this dedicated BEV platform that is now coming to India with the Hyundai IONIQ 5. According to Hyundai, the E-GMP platform comprises of vehicle chassis that includes the battery, motor and power electric system.
Chip export curbs not aimed at hurting businesses: US official
Thea Kendler, US assistant secretary of commerce for export administration, made the remarks, as Washington's new set of export restrictions have sparked concerns they will deal a serious blow to South Korean chipmaking companies, primarily Samsung Electronics and SK hynix.
India, China converging to high income levels: Moody's
"The remainder have been in the same income category for decades and are either converging at a relatively slow pace or diverging from high-income levels," Moody's said.
For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor
In a research report Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million.
India-US ties driven by common interest of promoting sustainability: Piyush Goyal
The Union Minister made the remarks while virtually addressing the India-US CEO Forum which was chaired jointly by Goyal and US Secretary of Commerce Gina Raimondo. Goyal said that the forum continues to be an effective platform for dialogue across key sectoral themes and also highlighted the significant growth of the India-US economic relations at the forum.
Musk will let Twitter users make digital payments, earn more
In a live-streamed meeting with advertisers, Musk detailed his vision for Twitter to enter the digital payments market, reports TechCrunch. According to him, users would be able to send money, "extract their funds to authenticated bank accounts and, later, perhaps, be offered a high-yield money market account to encourage them to move their cash to Twitter".
Binance backs out of deal to buy FTX, cryptos at record low
Binance on Tuesday signed a non-binding, letter of intent to purchase FTX for an undisclosed sum. In a tweet, the company said that as a result of corporate due diligence, "as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX".
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