BUSINESS
40% of Indians defrauded while shopping online during festive season
The study was conducted by The Harris Poll on behalf of Norton, a global leader in Cyber safety, which released the Indian findings that explored attitudes toward cyber security and online shopping during the festive season. According to the findings, two-third of Indian adults surveyed were concerned about their personal details being compromised (78 per cent), being defrauded by a third-party retailer (77 per cent), buying or receiving a refurbished device as a gift (72 per cent), and a device they receive as a gift being hacked (69 per cent).
Samsung aims to sell 270 mn smartphones next year
According to GSMArena, the current estimate of 260 million units sold in 2022 is around 10 million more than the last year, and the company wants to increase that by 10 million next year. Samsung is reportedly concentrating on foldables in order to achieve this goal because it can increase profitability as opposed to just sheer sales volumes overall.
Hiring in India IT sector slows down 18% in Oct: Report
With the IT sector showing a decline, Bengaluru, Hyderabad and Pune showed a decline in hiring activity, according to the Naukri JobSpeak index. Apart from IT, other sectors that recorded a notable decline in hiring sentiments included telecom and healthcare. Despite the festive season, India saw a stable though flat hiring in other industries in October, led by the insurance sector.
GST collections touch Rs 1,51,718 crore in Oct, 2nd highest since April
The monthly GST revenues have been more than Rs 1.4 lakh crore for eight months in a row. The Rs 1.5 lakh crore mark has been crossed for the second time since the inception of GST, official sources said. September saw the generation of 8.3 crore e-way bills, which is significantly higher than 7.7 crore e-way bills generated in August.
76% Indians now prefer UPI as payment mode for online checkouts
As the physical, digital and virtual worlds are converging, Indians are willing to explore and purchase within apps/browsers as well from the social media platforms, according to new research from financial services technology provider FIS.
India has conditions in place for an economic boom: Report
These drivers will make it the world's third-largest economy and stock market before the end of the decade, Morgan Stanley said in a report titled, "The New India: Why This Is India's Decade". India's GDP is likely to surpass $7.5 trillion by 2031, more than double current levels, making it the third-largest economy and adding about$500 billion per annum on an incremental basis over the decade, the report said.
Ex-Tata Steel MD Jamshed Irani passes away
"Dr J.J. Irani was a quintessential Tata man. He was a towering corporate personality whose contribution to the steel industry was immense. Dr Irani will be deeply missed by all of us at Tata Group and we pray for his departed soul," N. Chandrasekaran, Chairman, Tata Sons, said.
Pakistan's economy still in ICU with forex level at record low
Ishaq Dar, Finance Minister of the country, who replaced Miftah Ismail a month ago has had little impact on the situation. Local newspaper Dawn in its report said that forex reserves held by the country's central bank were close to nil. Of the total amount, $2.3 billion has been credited by China, $3 billion was deposited by Saudi Arabia and $1.2 billion came from the International Monetary Fund (IMF).
Iran signs gas contracts worth $6.5bn with Russia
The newly signed deals are parts of the memorandum of understanding (MoU) valued at $40 billion signed between the National Iranian Oil Company (NIOC) and Russia's Gazprom in July, that have recently turned into contracts, Xinhua news agency quoted Deputy Foreign Minister for Economic Diplomacy Mehdi Safari as saying on Monday.
Q3 2022 gold demand shines in India
According to the WGC, the gold demand in India was at 191.7 ton (value Rs 85,010 crore) during Q3 2022 as against 168 ton (Rs 71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year.
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