BUSINESS
Rolls-Royce reiterates commitment to partner India for combat engine co-development at DefExpo 2022
Kishore Jayaraman, President, India & South Asia, Rolls-Royce, said: "As India takes steps to realise its vision of 'self-reliance' in defence, we believe we are well positioned to help leapfrog this journey through meaningful partnerships for co-creation of engine technologies.
Delhi to get 100 electric vehicle charging stations in two months: CM Kejriwal
CM Kejriwal said, "Through these 11 electric charging stations, Delhi has given the world the most affordable model of its kind. Driving an EV after charging them here would be extremely cheap -- it would barely cost 7 paise/km for two wheelers, 8 paise/km for three wheelers and 33 paise/km for four wheelers".
India sees 34% uptick in jobs related to 5G, telecom: Report
Job roles such as telecommunications engineer have grown by 16 per cent from August to September 2022 in the country.
The data by leading job website Indeed also revealed that the average salary for top job roles such as technical support, BPO executive and customer service representative is Rs 3,53,298, Rs 3,29,520 and Rs 3,06,680 respectively.
US export controls shake China's semiconductor industry
The export controls limit China's ability to "purchase and manufacture certain high-end chips used in military applications", which the US claimed was necessary to "protect US national security and foreign policy interests", reports news.com.au. The restrictions ban the export of US semiconductor equipment that any foreign competitor cannot provide, the report said.
India's monthly trade deficit to moderate further: Acuite Ratings
In a research report on India's trade deficit for the month of September 2022, it said that the monthly trade deficit may moderate further in the coming months as impact of recent correction in commodity prices trickles down and global supply chain pressures ease. India's merchandise trade deficit moderated to $25.7 billion in September 2022 from its record high level of $28 billion in August 2022.
Meta surpasses $2 billion revenue mark in India
The social network posted a total profit of Rs 440 crore (after tax) in the country, growing at 116 per cent (YoY) in FY22. Profit after tax was Rs 297 crore, growing at 132 per cent.
UK reverses bulk of September tax-cutting package to calm markets
The basic rate of income tax is set to remain at 20 per cent until economic conditions allow for it to be cut, Chancellor of the Exchequer Jeremy Hunt said in a statement on Monday. The 1.25-percentage-point increase in dividends tax will remain and the VAT-free (value-added tax) shopping scheme for foreign visitors to the country will no longer be taken forward.
Rupee to trade in Rs 82.25-82.75 band against dollar: Bank of Baroda
"Even so, intervention by the RBI is likely to keep INR (Indian Rupee) in the range of 82.25-82.75/$ in the near-term. Fed minutes and US Q3CY22 GDP (gross domestic product) scheduled to be released later in the month will determine the course of the forex market," the report said.
Inflation set to ease, though stubbornly: RBI bulletin
These observations have been made in the central bank's monthly bulletin for the month of October. In the article on the state of economy published in the bulletin, the central bank said that "these factors will entrench India's prospects as one of the fastest growing economies of the world".
Nokia, Ericsson ink multi-year deal with Jio to deploy 5G in India
Nokia said that it has been selected as a major supplier by Reliance Jio to supply 5G Radio Access Network (RAN) equipment from its comprehensive AirScale portfolio countrywide in a multi-year deal. Meanwhile, Ericsson said it has entered into a long-term strategic 5G contract with Jio to roll out 5G Standalone (SA) in India.
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