BUSINESS
Queensland offers horizon of opportunities to Indian business community
Australia has one of the most conducive environments in the world to do business and has a very strong and robust economy. Queensland, Australia, is emerging as the preferred destination for migrants due to its excellent handling of the Covid-19 pandemic and opportunities in the education, minerals, renewable, and agriculture sectors.
Aether Industries makes exchange debut with premium of 10%
Started in 2013, the Surat-headquartered Aether Industries focuses on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies and its products find application in the pharmaceutical, agrochemical, material science, coating, high performance photography, additive, and oil and gas segments of the chemical industry.
JM Financial maintains 'buy' call for realty major DLF, sees 34% upside in 12 months
Accordingly, the target price has been pegged at Rs 450 per share, implying a 34 per cent upside by March 2023, as against its current price of Rs 333. According to a note by JM Financial, DLF continues to offer a lot of visibility backed by broad-based momentum in the residential business, significant expansion plans in DLF Cyber City Developers, monetisation of land banks, and a possible REIT listing.
IL&FS gets NCLAT approval for making over Rs 16,000 cr interim payout to creditors
The interim distribution shall be confined only to the entities as reflected in "Annexure-6" except those excluded and for the amount of Rs 16,361 crores -- Rs 11,296 crore of cash and Rs 5,065 crore of InvIT units, the order said. "With regard to interim distribution, we further direct the new board in addition to compliance of the interim resolution process...only after approval by the new board," the NCLAT order read.
NRAI dismisses reports on govt calling restaurant service charge illegal
The Department of Consumer Affairs held a meeting, chaired by Consumer Affairs Secretary Rohit Kumar Singh, here on Thursday with restaurant associations and consumer organisations on the issue of service charge in hotels and restaurants. "Media reports regarding decisions allegedly taken at the Department of Consumer Affairs meeting yesterday with respect to legality of service charge are untrue," said the hotel industry body.
Indices settle almost steady in volatile trading session
Sensex closed 0.09 per cent lower at 55,769 points, whereas nifty closed 0.26 per cent lower at 16,584 points. Intraday low for sensex was at 55,719 points, whereas high at 56,433 points, data showed. On Friday, Reliance Industries was the top gainer among the Nifty50 companies, rising nearly 2 per cent, whereas Grasim Industries the top loser at 6.5 per cent.
India adds 14 unicorns in 2022 first half, builds 70K startups in 8 years
According to Union Science and Technology Minister Dr Jitendra Singh, the country has risen from 300 to 70,000 startups in the last 8 years, which is a massive 20,000 per cent increase. "We should aim at a sustainable startup ecosystem because startups are going to determine the future economy of India. It is a matter of pride that globally out of every 10 unicorns, one is Indian," the minister said during an event organised by the PHD Chamber of Commerce and Industry late on Thursday.
We are not Sri Lanka, says Pakistan bank chief
Sri Lanka is currently undergoing its worst ever economic crisis since it gained independence in 1948 following crippling foreign currency shortages, which has affected the import of essential items, including food, fuel and medicines. Addressing an SBP podcast, Syed admitted that "there is no doubt that the economy is facing challenges and the economies of many countries are in trouble due to commodity high prices after Covid. Sri Lanka is one of them, but they did not manage well and took some wrong or late decisions that created problems for the country",
World food commodity prices declined modestly in May: FAO
The FAO Food Price Index averaged 157.4 points in May 2022, down 0.6 per cent from April. The Index, which tracks monthly changes in the international prices of a basket of commonly-traded food commodities, however, remained 22.8 per cent higher than in May 2021. The FAO Cereal Price Index increased by 2.2 per cent from the previous month, led by wheat prices, which were up 5.6 per cent from April and 56.2 per cent from their corresponding value a year earlier.
Holiday season boosts travel, hospitality with 357% growth in hiring: Report
India showed promising signs of economic recovery in May 2022 with hiring across key sectors witnessing an upward year-on-year trajectory and a stable sequential trend. According to the latest Naukri JobSpeak May '22 Index, the surge in hiring activity stays put as it records over 40 per cent y-o-y growth in May.
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