BUSINESS
Equity indices decline for second straight day
For fresh cues, investors await inflation data for March which will be released later on Tuesday evening. The Sensex settled at 58,576 points, down 388 points or 0.66 per cent, whereas Nifty settled at 17,530 points, down 145 points or 0.82 per cent, from their previous close.
Adani Green shares up 5% as Co becomes 10th largest on BSE
On Tuesday, the shares of the company settled 5.1 per cent higher at Rs 2,800. Notably, the Adani Group company became the 10th largest firm on the Bombay Stock Exchange in terms of market capitalisation. Commonly referred to as market cap, market capitalisation is the aggregate valuation of the company based on its current share price and the total number of outstanding stocks.
Meta onboards Sequoia India to boost SMBs' growth
"Meta and Sequoia India are both working towards the common goal of unlocking more growth opportunities for small businesses in India," said Archana Vohra, Director, Small and Medium Businesses India at Meta. Meta's VC Brand Incubator Initiative was launched in 2019 as an industry-first initiative to boost the growth of startups.
Action against hoarders of edible oils, oilseeds to keep tab on price rise
Prices of cooking oil are on an upwards swing globally due to the Ukraine-Russia war. "The domestic prices of edible oils have been following the international suit and the prices have increased considerably over the past one month which may be attributed to the current geopolitical condition," officials said. Inspections have revealed very large hoardings of soybean and mustard seeds in Dewas, Shajapur and Guna districts of Madhya Pradesh.
Fortnite developer Epic raises $2 bn to build for metaverse
The funds will be used to boost Epic's dream to build the metaverse. Sony and KIRKBI invested $1 billion, respectively, in Epic. "This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive," said Tim Sweeney, CEO and Founder, Epic Games.
Honda to launch 30 EVs with $40 bn investment by 2030
Over the next 10 years, Honda will allocate approximately 5 trillion yen ($40 billion) in the area of electrification and software technologies to further accelerate its electrification, including both R&D expenses and separate investments. Honda's overall R&D expenses budgeted for this period will be approximately 8 trillion yen, the company said in a statement late on Monday.
Flexible work policies forcing 7 in 10 Indian women to quit: LinkedIn
The research by Microsoft-owned professional networking platform found that poor employer sentiment towards flexible working and career breaks is holding women back from asking for greater flexibility and re-entering the workforce. While eight in 10 (83 per cent) of working women have realised they want to work more flexibly, 70 per cent have already quit or considered quitting their jobs because they weren't offered the right flexible policies.
Pakistan political upheaval raises significant uncertainty over policy continuity, warns Moody's
Commenting on the ouster of former Prime Minister Imran Khan through a no-confidence vote and the subsequent confirmation of Shehbaz Sharif as the new Prime Minister until August 2023, Moody's said that "the political upheaval reflects the volatility that besets Pakistan's political environment and raises significant uncertainty over policy continuity, at a time when Pakistan is encumbered with surging inflation, widening current account deficits and declining foreign-exchange reserves."
PNB loan fraud: Nirav Modi's aide Subhash Shankar brought to India
Shankar was DGM Finance in Nirav Modi's company. Red corner notice had been issued against him. The federal probe agency was working to bring him back to India for a long time in connection with the loan fraud case of PNB. "He has been placed under arrest. We will produce him before a Mumbai court and will seek his custodial remand. He will be then further interrogated," said a CBI official.
Crisis in Ukraine could slash global trade growth by half in 2022: WTO
The conflict has pushed up food and energy prices, and reduced the availability of goods exported by Russia and Ukraine, said the Secretariat note. Russia and Ukraine are both important suppliers of essential products, notably food and energy, according to the note. The two countries supplied around 25 per cent of wheat, 15 per cent of barley and 45 per cent of sunflower product exports globally in 2019.
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