BUSINESS
AT1 bond issuances likely to fall to around Rs 200 billion in FY2023: ICRA
"Public sector banks are expected to raise Rs 201 billion in AT-I bonds during FY2023, but private sector issuances are expected to remain modest depending on market opportunities. Unlike in FY2022, when issuances were mostly driven by rollover requirements, issuances by public banks in FY2023 are primarily driven by growth requirements," said Anil Gupta, Vice President, ICRA.
Affordable Housing sales dip, luxury segment up
Latest ANAROCK Research data finds that of nearly 1.84 lakh units sold in these cities in H1 2022, about 14 per cent (approx. 25,700 units) were in luxury homes. Contrastingly, of 2.61 lakh units sold in the whole of 2019, just 7 per cent (approx. 17,740 units) were in the luxury category. Mumbai metropolitan region (MMR) and NCR have led luxury homes sales with H1 2022 seeing nearly 17,830 units sold in these two cities alone. In 2019, they accounted for a mere 11,890 luxury homes sold in the entire year.
Report suggesting 'India on the verge of capex recovery' gets mixed response
However, Kotak Securities in its report, citing the Reserve Bank of India (RBI), said that the capex led loan demand is not visible as yet. "The current visibility of capex loan demand is still not comfortable to establish the view that growth from corporate sector is on an upswing. Infrastructure (power and roads & bridges) remains a preferred destination for bank funding, but mega projects have been out of favour," Kotak Securities said.
Paytm shares jump after Vijay Shekhar Sharma reappointed as MD, CEO
At 11.00 a.m., shares of One97 Communications were trading at Rs 785.55 a share, up 1.74 per cent.
In a shareholders meeting on August 21, Vijay Shekhar Sharma was reappointed as MD & CEO of Paytm. A total of 99.67 per cent majority votes were recorded in favour of the resolution, Paytm said in a statement.
Qantas issues apology, refunds to millions of customers amid disruptions
"On behalf of the national carrier, I want to apologise and assure you that we're working hard to get back to our best," Qantas CEO Alan Joyce said statement. Joyce has been under intense scrutiny as the airline has suffered severe worker shortages, mass cancellations and delays of flights, and misdirected luggage, reports Xinhua news agency.
No service charge on UPI, clarifies Centre
"UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means," the Finance Ministry said in a tweet.
Facebook losing its grip as 'Top 10' app in US: Report
According to an analysis of iPhone App Store data, as younger consumers shift to newer social networking experiences like TikTok and now BeReal, the tech giant's app has lost traction in the App Store's Top Charts, reports TechCrunch. As per the report, last year, Facebook only fell out of the Top 10 free iPhone apps in the US seven times. But in 2022, that figure has already soared to 97 -- an indication that Facebook may be losing ground as new apps push their way into the App Store's top rankings.
'Was referring to Mahakal restaurant': Zomato on controversial ad featuring Hrithik
In the advertisement, the actor is heard saying, "Thali Khane Ka Man Kiya to Ujjain Mahakal se Manga liya" (Felt like having a 'thali', ordered from Ujjain Mahakal). The advertisement did not go down well with priests of Ujjain's Mahakaleshwar temple (also referred as Mahakal temple) in Madhya Pradesh and they objected to it, arguing that the advertisement hurts the Hindu sentiments.
Economists say freebies make sense only if a state budget has revenue surplus
In simple terms, what is applicable at the home front is equally applicable for the governments - spend if there is a surplus, said economists queried on freebies and subsidies. "Political parties can announce freebies, subsidies as poll promises. But such poll promises - freebies/subsidies - should be implemented only if there is a revenue surplus in the state budget," K.R. Shanmugam, Director, Madras School of Economics, told IANS.
Apple CFO Luca Maestri sells stock worth $16.9 million
According to a filing with the US Securities and Exchange Commission (SEC), the transactions was executed in two tranches. One transaction was for 66,390 shares, sold for $174.66 each, while the other was 30,345 shares fetching $175.60 apiece. MacRumors reports that a total of 96,735 shares were sold by Maestri.
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