BUSINESS
88% drop in Google searches for 'buying NFTs' as crypto market crashes
The term "buy NFT" has dropped down to a score of 12 on a scale of 100 at the beginning of June, representing an 88 per cent drop from its peak score of 100 that was recorded in January, reports niche news publisher Bankless Times. Similarly, the term "sell NFT" saw a 86 per cent decline in its search interest score from 52 which was recorded at the start of 2022, to a score of 7 in June, the report noted.
NSEL Case: SAT notes serious charges against brokers, asks SEBI to probe afresh in 6 months
In its recent order, the SAT noted serious allegations against five brokers - Motilal Oswal Commodities Broker Pvt Ltd, Anand Rathi Commodities Ltd, IIFL Commodities Ltd, Philip Commodities India Pvt Ltd, and Geofin Comtrade Ltd - of indulging in illegal activities such as funding of clients by way of PAN lending, name lending through their NBFC, and other related entities, and that funding was totally disproportionate to the net-worth and income level of these clients.
Bengaluru now 5th on global tech VC investment map
According to the latest 'Global Startup Ecosystem' report from innovation policy advisory and research firm Startup Genome, tech firms in Bengaluru have raised $7.5 billion in tech venture capital investment so far in 2022 -- more than any other year previously. San Francisco Bay Area tops the list, followed by New York, London, Greater Boston, and Bengaluru.
Google Maps rolls out estimated toll charges for your journey in India
According to the company, the feature is available for "nearly 2000" toll roads in the US, India, Japan and Indonesia for its iOS and Android apps, and it plans to add support in more countries "soon." Google in April announced to roll out toll prices on Maps in India, the US, Japan and Indonesia that will help users make the choice between toll roads and regular roads.
India's fuel demand up 22% YoY in May: S&P Global Commodity Insights
The demand for May was some 80,000 barrel higher than its growth forecast, partly due to stronger-than-expected demand for transportation and the government's announcement of a cut in excise duty on patrol by Rs 8 per litre and Rs 6 per litre on diesel, which provided some support for demand. On a year-on-year basis, demand growth was driven by diesel, petrol and other minor products, which were up 416,000 barrels per day, 282,000 barrels per day and 161,000 barrels per day, respectively.
Essar Power strengthens commitment towards health, environment, safety
The company has achieved a remarkable feat of 6,948 Lost Time Accident (LTA) free days in FY22. It has also taken several initiatives across all its plants to reduce its carbon footprint and transition the existing businesses towards greener and cleaner alternatives. A Lost Time Accident is essentially an incident that has resulted in an employee needing to miss work due to sustaining an injury while working.
Automaker Geely acquires ailing Chinese smartphone brand Meizu
Meizu's market share has since fallen to just 0.1 per cent in China. "Mobile phones and devices have quickly evolved into mobile terminals and application platforms, which not only allow users to enjoy the fruits of innovation in the quickest manner possible, they also act as a pathway to greater automotive applications," Geely said in a statement.
Equity indices settle marginally low amid volatile trade
With Tuesday's slump, the indices declined for the seven out of the past eight sessions. Sensex closed at 52,693.57 points, down 153.13 points or 0.29 per cent, whereas Nifty closed at 15,732.10 points, down 42.30 points or 0.27 per cent. Any steep fall in the indices during the session was arrested due to a moderation in retail inflation in India in the month of May.
Rupee expected to remain under pressure in near-term: Report
However, the central bank RBI is likely to intervene in the forex exchange market to support the rupee and prevent any sharp depreciation in the exchange rate. On Monday, the Indian rupee slipped to a fresh record low of 78.04 per US dollar amidst a resurgence in strength in the dollar primarily on account of expectations of aggressive policy tightening by the US Fed this week at the monetary policy meeting.
Adani and Total Energies to create world's largest green hydrogen ecosystem
The new partnership, centered on green hydrogen, is expected to transform the energy landscape both in India and globally. Both Adani and Total Energies are pioneers in energy transition and clean energy adoption, and this joint energy platform further strengthens the public ESG commitments made by both companies.
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