BUSINESS
'Edible oil price may touch new high this calendar year'
The groundnut 16 liter tin price has touched to Rs 2,750 and cotton seed oil is being quoted at Rs 2,700. The present price rise is because there is no stock of groundnut with farmers, claimed SOMA. Even the state government has hardly 1.50 lakh ton groundnut stock, even if the entire stock is offloaded in the market, it can't increase the volume of groundnut oil production that can stabilise the market, according to traders.
Another Rs 1,200 cr vanishes from BYJU'S funding round: Report
In September 2021, New York-based Oxshott invested Rs 1,200 crore as part of a Series F round at Rs 285,072 per share, according to regulatory filings reported by researcher Tofler. Other investors in the round included Edelweiss (Rs 344.9 crore), IIFL (Rs 110 crore), Verition Multi-Strategy Master Fund (Rs 147 crore) and XN Exponent Holdings ( Rs 150 crore).
China crushes mass protest by bank depositors
Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns, CNN reported. Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears.
Investment inflows in Indian realty up 14% in first half
Investors are enthused by the recovery seen across the Indian real estate spectrum, after Covid-19-induced disruptions. The inflows during H1 2022 was led by the office sector which accounted for about 48 per cent share, followed by the retail sector with a share of 19 per cent. On a quarterly basis, inflows into Q2 2022 have increased from the preceding quarter, while registering a 50 per cent increase from the average quarterly inflows of 2021.
'Adequate punishment is must', SC sentences Vijay Mallya to 4 months in jail for contempt of court
In March, the top court had reserved the order on sentence to Mallya, who was found guilty of contempt in 2017 for disobeying court's order for not disclosing full particulars of assets in case between the SBI and Kingfisher Airlines.
Inflation to ease in second half of FY23: RBI Governor
Speaking at the Kautilya Economic Conclave, organised by Institute of Economic Growth, New Delhi, Das said, with the supply outlook appearing favourable and several high frequency indicators pointing to resilience of the recovery in the first quarter (April-June) of 2022-23, the inflation may ease gradually in the second half of 2022-23, precluding the chances of a hard landing in India.
Musk to pay $1 bn as deal termination fee to Twitter
As per an earlier filing with the US Securities and Exchange Commission (SEC), "Musk will be required to pay Twitter a termination fee of $1 billion", if he cancels the deal. Musk was expected to provide equity financing of approximately $21 billion on his own. The Tesla CEO had said that Twitter is violating the terms of his $54.20-per-share offer by refusing to give him more information about how much of the platform's traffic is driven by fake accounts.
Nepal exports cement to India for 1st time
The official process began on Friday with Palpa Cement Industries Limited exporting its Tansen brand to India. The company located at Sunwal Municipality-7 in West Nawalparasi district hosted a special function to mark the launch. The government in its annual budget had introduced a subsidy of 8 per cent in cash to companies exporting cement using Nepali raw materials.
IRDAI processing licence applications of 12 companies
Industry officials told IANS that the IRDAI has not licensed any new insurer during the past couple of years. And that situation is expected to change in the near future with some of the applications are in advanced stages of processing at IRDAI.
Global EV shipments up 79% YoY in Q1, Tesla leads: Report
According to market research firm Counterpoint, of these, battery electric vehicles (BEVs) accounted for 73 per cent and plug-in hybrid electric vehicles (PHEVs) for the rest. "With EVs comprising just 12 per cent of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion.
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