BUSINESS
Uber to add train, bus, flight bookings in UK
Uber will not provide these travel services itself, it will allow users to book them through its app following software integrations with platforms that sell tickets. The tech giant, which may take a cut on each booking, said it plans to announce various partners in the coming months. Uber said the integrations will help to boost app usage among its users in the UK, who also have the choice of using apps like Bolt and Free Now.
Ashneer hits out at BharatPe board members for 'snatching keys'
Ashneer, also a popular judge on the reality show Shark Tank India, has accused BharatPe CEO Sameer of siding with the investors to remove him from the company. After reports surfaced that government regulators may expand their probe into BharatPe's financial books after the Ashneer-Madhuri Grover saga, the fintech platform said last month it will fully comply with the law of the land.
Markets open on a negative note
The Sensex of the BSE opened at 59,402.61 which was also the high point. The Sensex touched a low of 59,255.87 points. On Wednesday, the Sensex closed at 59,610.41 points. The Sensex is trading at 59,280.78 down by 329.63 points or 0.55 per cent. The Nifty is trading at 17,730.40 points in the morning.
Italy slashes GDP growth estimates for 2022, 2023
The country's economy is expected to grow 3.1 per cent in 2022, compared to 4.7 per cent based on previous estimate, according to a press briefing from Italian Prime Minister Mario Draghi, and Economy and Finance Minister Daniele Franco. For 2023, the government expects a growth rate of 2.4 per cent, down from a previous target of 2.8 per cent, Xinhua news agency reported.
US Fed plans to shrink balance sheet by $95bn a month: Minutes
The Fed's latest policy meeting was released on Wednesday, Xinhua news agency reported. Many participants noted that they would have preferred a 50 basis point increase in the target range for the federal funds rate at the March meeting, but a number of these participants indicated that in light of the uncertainty amid the Russia-Ukraine conflict, they judged that a 25 basis point hike would be appropriate.
US President Biden's extension of payment pause on federal student loans fuels inflation concerns
"Extending the debt pause would be a massive handout to doctors and lawyers that would only feed more inflation and worsen the nation's balance sheet," said Maya MacGuineas, President of the Committee for a Responsible Federal Budget, a budget watch group. "The debt pause disproportionately benefits high-income Americans with advanced degrees," she said.
Pak rupee's record-breaking downward streak continues for 16th session
The Pak rupee has maintained a non-stop downward streak for the 16th successive working day except on March 24, when it closed flat compared to the previous day's closing with investors worried about the political situation and economy, adding pressure on the central bank to rescue the falling currency. The Pak currency dropped 0.48 pert cent (or Re 1) to a new historic low beyond the important threshold of Rs 186 against the US dollar in the inter-bank market.
'Resignations of key officials raise policy uncertainty in Sri Lanka'
Accordingly, on April 3-4, all of Sri Lanka's cabinet, with the exception of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa, tendered their resignations, along with the governor of the central bank. The resignations were partly a response to rising public dissatisfaction and social tensions over high inflation, shortages of essential items and lengthy power cuts, increasing political and policy uncertainty at a time when Sri Lanka is experiencing a severe external liquidity.
Insolvency proceedings initiated against Ananda Divine Developers
In a statement, ATS Infrastructure CMD Getamber Anand, who is also a director in Ananda Divine Developers, said: "We have received a copy of the order and we are in the middle of studying the same. However, the amount under consideration is a very small sum and the related project is completed and handed over.
Record High: India's agriculture exports touch $50 bn
As per the provisional figures released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), agri exports grew by 19.92 per cent in 2021-22 to touch $50.21 billion. "The growth rate is remarkable as it is over and above the growth of 17.66 per cent at $41.87 billion achieved in 2020-21, and it has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages etc.," the Ministry said.
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