BUSINESS
Pakistani rupee becomes 'world's best performing currency'
Friday was the 11th consecutive working day for the Pakistan rupee when it maintained the winning streak since the current Finance Minister Ishaq Dar announced his return to to the country by ending a five-year self-exile last month. Apparently, after taking over, Dar resumed his old policy of protecting the rupee against the onslaught of the US dollar.
Three years of shock after shock for the global economy
"We estimate that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year," said IMF Managing Director Kristalina Georgieva during a speech at Georgetown University, CNN reported.
Rising food, crude prices coupled with weak rupee fuel inflation in India
Most importantly, the sharply depreciating rupee against the dollar is one of the most significant reasons behind it. India's retail inflation rose to 7 per cent in August from 6.71 per cent in July and this was due to higher food prices.
In fact, retail inflation has been beyond the Reserve Bank of India's (RBI) tolerance limit of 6 per cent for eight months in a row.
Apple A16 Bionic costs more than twice to manufacture compared to A15
A Nikkei teardown of Apple's iPhone 14 series models revealed that production costs jumped nearly 20 per cent from its previous iPhone generation which is an all-time high. "The company has not raised prices for its latest model in the US and some other markets, but higher production costs mean that the company's profit margin has likely shrunk," the report mentioned on Friday.
What Delhi-NCR says about its milk? Survey reveals
To understand the pulse of the consumers on their milk, online community platform LocalCircles conducted an extensive survey in Delhi and the National Capital Region (NCR) to understand how households consume milk, their preferences, issues of quality and freshness.
Hackers steal over $100 million from top crypto exchange Binance
The Binance Blockchain, also known as BNB Chain, said that a total of 2 million BNB tokens -- worth nearly $568 million -- were initially stolen by the hacker. However, the company suspended the BMB Chain which resulted in more than $100 million being vanished, while the rest of the tokens couldn't be transferred by the cybercriminals.
Government seeks suggestions from businesses on improving compliances
Any minor violation under different provisions or sections can be suggested for decriminalisation, according to guidelines issued by the department. The aim is to make India a preferred investment destination across the globe and ensure hassle-free service delivery to the ultimate beneficiary, official sources said. The last date of sending suggestions is October 15, 2022.
Age just a number - 7 Indian-origin women in Forbes' '50 Over 50' list
While Manjusha Kulkarni, co-founder of Stop AAPI Hate, is listed in the 'Impact' section, the remaining six women are included in the 'Entrepreneurs' category of the coveted list. Kulkari's Stop AAPI Hate is America's leading aggregator of Covid-19-related hate incidents against Asian Americans and Pacific Islanders.
Government invites bids for strategic disinvestment in IDBI Bank
As per the bid details issued by the Department of Investment and Public Asset Management (DIPAM), LIC will cut its stake in IDBI Bank to 19 per cent from 49.2 per cent, while the government will cut its share to 15 per cent from 45.5 per cent at present. According to the conditions of the EoI, private sector banks, non-banking finance companies (NBFCs), foreign banks and even alternative investment funds registered by SEBI can bid for IDBI Bank.
India will give top priority to national interest in FTA negotiations: Piyush Goyal
The minister's statement came at a time when India and the UK are trying to finalise their FTA negotiations by Diwali. Goyal was speaking at a meeting held to review India's export performance in the first six months of this financial year, with key representatives from export promotion councils and industry associations.
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