BUSINESS
Fall in consumer, education demand hampers tablet growth
Inflation and fears of a recession are at the forefront of consumers' minds, and spending on tablets has taken a backseat as the need for pandemic-era levels of use has fallen, according to a Canal's report. "Unlike notebooks, tablets are not vital for business productivity, so commercial demand has not helped to offset the drop in consumer purchases," said analyst Himani Mukka.
Aviation Minister flags off Akasa maiden flight
Earlier, on July 22, India's newest airline Akasa Air on Friday opened ticket bookings for its first commercial flights with an initial network in Ahmedabad, Bengaluru, Mumbai, and Kochi. Initially, Akasa Air, whose airline code is QP, will launch its operations by offering 28 weekly flights between Mumbai and Ahmedabad starting August 7, 2022.
India's smart home security camera market grows 116%
The smart home security camera grew 7 per cent (on-quarter) in Q2 2022 (April-June period), according to latest research from Counterpoint Research. The growth was driven by increasing consumer interest, greater concerns over security, shift from traditional security cameras, and brands' marketing push through discounts and promotions.
China's Belt And Road grapples with mounting debt crisis
Kyrgyzstan's debt currently sits north of $5.1 billion, according to the Foreign Ministry, 42 per cent of which is owed to Beijing. But Bishkek is struggling to cope with a contracting economy and has so far failed to yield a commercial return on the projects backed by its huge Chinese loans.
Difficult to 'blink it': Zomato says sticking to offer price for Blinkit shares
In a regulatory filing late on Friday, Zomato said that this issue price was arrived at, based on the valuation report from Ernst and Young Merchant Banking Services LLP (EY). The company went in for a second valuation report from EY on the specific requests from the BSE Ltd and the National Stock Exchange Ltd.
India's agricultural, processed food products exports up by 31%
As per the provisional data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), the overall export of the Agricultural and Processed Food Products Export Development Authority (APEDA) products increased to $7,408 million in April-June 2022 from $5,663 million over the same period of the last fiscal. The export target for April-June 2022-23 was fixed at $5,890 million.
Wheat prices record spike, touch Rs 2,500 per quintal mark in Delhi mandis
According to traders in Delhi, the heat wave led to lower production of wheat this year, impacting the domestic supplies of the agricultural produce. Jai Prakash Jindal of Delhi Lawrence Road Mandi said that the prices have been going up daily since the last few days. "Even today the rate went up by Rs 30 and now the price here is Rs 2,550 per quintal.
Crack down on OPPO, Vivo, Xiaomi can push them to leave India: Chinese state media
Since April 2020, out of 382 foreign direct investment (FDI) proposals the central government received from Chinese firms, India approved only 80 as on June 29. "The number presents the increasingly difficult business environment facing Chinese investment and companies doing business in India," the report said.
Alibaba lays off nearly 10K employees amid poor sales
According to South China Morning Post, more than 9,241 employees left Hangzhou-based Alibaba during the June quarter, as the company trimmed its overall headcount to 245,700. "That put the total decrease in employee numbers for Alibaba, owner of the South China Morning Post, to 13,616 over the six months to June, marking the firm's first drop in payroll size since March 2016," the report noted.
India's forex reserves rises after 4 weeks of fall
The country's foreign exchange reserves rose by $2.315 billion to $573.875 billion during the week ending June 29, according to the Reserve Bank of India's (RBI) weekly supplementary statistical data. "India's foreign exchange reserves, supplemented by net forward assets, provide insurance against global spillovers. Our umbrella remains strong," RBI Governor Shaktikanta Das said.
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