BUSINESS
Hindustan Motors steers market volatility, shares double in 1 month
To be precise, it rose 103 per cent. Notably, it reportedly hit upper circuits for 15 consecutive sessions in a row. At 2.28 pm, the shares were at Rs 23, as against Rs 11 same time previous month. During the same period, domestic benchmark indices declined about 5 per cent over concerns of high inflation as well as inflationary expectations and the subsequent raise in policy rates, which in turn may hurt growth.
Akasa Air takes delivery of first of its 72 aircraft from Boeing
With a strong commitment to democratise the skies, the airlines' total order of 72 aircraft includes an initial delivery of 18 aircraft by March 2023, followed by delivery of the remaining 54 aircraft over the course of the next four years. The 737 MAX family delivers superior efficiency, flexibility and reliability while reducing fuel use and carbon emissions.
All about 5G spectrum auction; key dates and other features
The Cabinet announced various progressive options with regard to the spectrum to be acquired by bidders through the forthcoming spectrum auction for facilitating ease of doing business. For the first time ever, there would be no mandatory requirement to make upfront payment by the successful bidders. Payments for spectrum can be made in 20 equal annual instalments in advance at the beginning of each year.
Indian private equity investments reach $70 billion in 2k deals in 2021
Indian investments grew by 96 per cent over 2020 (excluding the mega deals of Jio Platforms and Reliance Retail). Much of the deal activity was in consumer tech and IT/ITES sectors. The two sectors combined represented more than 60 per cent of the year's deal value, at nearly $44 billion, according to the annual India Private Equity Report 2022 by Bain & Company.
Is the US economy on a tailspin into recession?
Judging by analysis by various economic experts, billionaires, investors, players in the stock market, and even officials in the government, the economy is going into a tailspin and markets are set to plunge 40 per cent, a cause for concern as at least six out of 10 Americans put their savings in the stocks hoping to grow their earnings. But 'Don't Panic' is the advice of players in the stock market.
US Fed makes biggest rate hike since 1994
The rate hike was announced at the end of the two-day policy meeting of the fed. It ran contrary to smaller rate hikes of 0.50 percentage points that had been indicated by several members of the fed's top decision making committee, the Federal Open Market Committee. "We thought that strong action was warranted at this meeting and we delivered on that," Federal Reserve Chair Jerome H. Powell said in a news conference announcing the decision.
Several online platforms down for Indian users as Cloudflare suffers outage
Cloudflare said in a system status update that it was suffering from "Network Performance Issues in the India region," and "continuing to work on a fix for this issue". It later said that the "issue has been identified and a fix is being implemented". "Cloudflare is investigating issues with network performance in the India region. Impacted customers may experience an increase in 5xx errors," the company informed.
Turkey seeks to persuade Russia, Ukraine into grain deal to prevent food crisis
Ukraine is a major grain exporter to Africa and the Middle East. As the Russia-Ukraine conflict drags on, disruption to the shipments is pushing prices higher, fuelling an international shortage of food, Xinhua news agency reported. Meanwhile, international maritime insurance companies have placed the region on a "high risk" list, which would result in significantly higher shipping prices for agricultural products.
NFTs, crypto are '100% based on greater fool theory': Bill Gates
The theory is a financial concept that even overpriced assets can make money as long as you find a bigger idiot to sell them to. Gates said he rather preferred investing in assets with tangible outputs, like farms or factories, "or a company where they make products". He was speaking at an event on climate change hosted by TechCrunch.
Global markets brace for sharpest rise in US interest rates in 30 years
After days of frenzied investor speculation and signs of growing central bank anxiety, the Federal Reserve is expected to increase the official cost of borrowing by 0.75 percentage points for the first time since 1994. The Fed meeting will be preceded by an emergency meeting of the European Central Bank (ECB) to discuss crashing bond prices in Italy, Spain, Portugal and Greece.
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