BUSINESS
Asian stock markets moving towards worst month since Covid outbreak
The MSCI Asia ex-Japan Index, which captures 10 major markets across Asia, excluding Japan, has fallen 12.8 per cent so far this month, on track to post the biggest drop since March 2020, when the pandemic had wreaked havoc on global markets, CNN reported.
Interest rates for small savings schemes raised
Also, the tenure and interest rates of the Kisan Vikas Patra have been hiked. The interest rate for Kisan Vikas Patra is now 7 per cent for the maturity period of 123 months, compared to the earlier rate of 6.9 per cent for the maturity period of 124 months. Similarly after the revision, a three-year time deposit with post offices will now give 5.8 per cent interest compared to 5.5 per cent earlier.
Prime Minister Narendra Modi to launch 5G services on Saturday
The new technology will provide seamless coverage, high data rate, low latency and highly reliable communications. It will increase energy, spectrum and network efficiency. Meanwhile, the IMC 2022 will run from Saturday to October 4 under the theme of "New digital Universe".
RBI increases repo rate by 50 basis points
The RBI Governor Shaktikanta Das, heading the MPC, announced the hike to subdue the inflation.According to him there may be price pressure on wheat, rice and pulses due to lower sown acreage. The vegetable prices may also go up.
No hirings, more layoffs soon: Mark Zuckerberg to employees
According to The Verge, Zuckerberg made these comments during an internal call to employees. Zuckerberg mentioned during the last Meta earnings call that "Our plan is to steadily reduce headcount growth over the next year. Many teams are going to shrink so we can shift energy to other areas."
GST evasion worth Rs 824 cr unearthed, ICICI Prudential among 15 entities under probe
According to sources privy to developments, these companies were reportedly found to be availing input tax credit (ITC) without underlaying supply of goods and services. Sources informed that on the basis of specific inputs received against ICICI Prudential Insurance for reportedly availing ineligible ITC without underlaying supply of goods and services, certain other common intermediaries were also identified.
India jumps to 40th place in global innovation index
"We were 46 last time the ranking was done. We have also maintained first rank in ICT services exports over the years," he said. Goyal said this while delivering a virtual message to mark the launch of the Global Innovation Index 2022 by the World Intellectual Property Organization (WIPO). The minister said that GII has established itself as a tool for governments across the world to reflect upon policies and their impact.
Porsche shares rise on first trading day in largest European listing for a decade
The German carmaker Volkswagen listed 12.5 per cent of Porsche's shares to raise the billions of euros needed to invest in electric cars -- as well as hoping the sports car company would be able to match its Italian rival Ferrari, which has been able to attract a valuation more typical of luxury fashion brands, The Guardian reported.
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India
The proposed combination involves the acquisition of power assets namely Essar Power Hazira Ltd and Gandhar Hazira Transmission Ltd, port assets like Hazira Cargo Terminals Ltd, Ibrox Aviation & Trading Private Ltd, Essar Bulk Terminal Ltd, Essar Bulk Terminal Paradip Ltd and Essar Vizag Terminals Ltd, as well as other assets.
Competition Commission approves Adani Power's acquisition of Diliigent Power, DB Power
A public listed company incorporated in India with its shares listed on BSE Ltd as well as the National Stock Exchange of India Ltd, Adani Power has eight operational power plants in India. It has power generation capacity of 13,650 mw comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a 40 mw solar power project in Gujarat.
Don't Miss
Advertisement