BUSINESS
DHFL scam: Delhi court dismisses bail plea of Wadhawans
The complainant alleged that a wrongful loss of Rs 34,615 crore was caused to the consortium as per the quantification of the outstanding dues as on July 31, 2020.Wadhawans, facing charges of multiple financial crimes being probed by the Enforcement Directorate and the CBI, was first arrested by CBI in the Yes Bank-DHFL fraud on April 26, 2020.
Myntra onboards record 1.2 mn new users during its Big Fashion Festival, with 45% of overall visitors from small-town India
As customers shopped in plenty for fashion, beauty and lifestyle products during the event, the 'Myntra Big Fashion Festival' saw over 45 percent of visitors coming from tier 2 and 3 cities. The top non-metro cities during BFF were Guwahati, Bhubaneswar, Dehradun, Jammu, Imphal, Mysore, Siliguri, Udaipur, Cuttack, and Jalandhar.
Rupee falls 49 paise against US dollar
The increase in crude prices hit the Indian rupee as the country meets bulk of its oil needs through imports. Further the Indian stock markets too fell on Monday. The Reserve Bank of India (RBI) does not have any fixed dollar: rupee exchange rate and its market interventions is to curb excessive volatility, Governor Shaktikanta Das said recently.
Komaki launches affordable e-scooter with fire-resistant tech
The VENICE ECO is equipped with fire-resistant Lithium Ferro Phosphate (LiPO4) technology and real-time lithium battery analyser that doesn't lead to fire in extreme cases as cells contain iron. The new EV two-wheeler is designed with third generation TFT screen which helps in better navigation and stress-free ride, said the company.
Reimpose 5% import duty on metallurgical coke, IMCOM urges Finance Minister
According to IMCOM, the change in duties has led to a situation where the industry's input cost has reduced only marginally, while the import prices of the output product (met coke) have declined by a much larger quantum. This has led to significant price suppression for the industry as it is no longer able to recoup its cost due to the injuriously low prices of met coke imports.
Higher US rates, stronger dollar could lead to acceleration of capital outflows from Asia
The strong dollar environment has raised questions about how Asia will be impacted and whether this will precipitate another financial crisis. "We think this is a very different cycle for Asia - very unlike 1997/98 or 2013", Morgan Stanley said.
Though dollar is strong, 2022 is not 1997/98 or 2013: Morgan Stanley
According to Morgan Stanley, currencies across Asia are depreciating because of a stronger dollar environment and not because of any existing imbalances related to the Asia macro situation.Indeed, this is best reflected by the fact that trade weighted exchange rates in the region have been relatively stable to appreciating.
Mahindra & Mahindra number one in SUV segment in September
The company said that it had sold a total of 64,486 units (passenger vehicles 34,508 units, commercial vehicles 27,440 units, exports 2,538 units) last month up from 28,112 units sold in September 2021.
Mobility-as-a-service to generate fuel cost savings of $10.8 bn by 2027
MaaS platforms provide consumer urban transport solutions, such as ride hailing, bus and metro, integrated into a single platform.
Nearly 41 per cent of respondents ranked the cost of transport as being the most important factor when it comes to transportation.
Millions of Indian smartphone users have to wait till 2024 for 5G
India is home to more than 500 million smartphone users and over 100 million users with 5G-ready smartphones wish to upgrade to a 5G subscription in 2023, according to a latest Ericsson report. However, there are multiple challenges ahead for telecom service providers to meet the tough roll-out deadlines.
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