BUSINESS
US govt calls out Data Protection Bill as a trade barrier
The NTE Report identifies a range of important challenges and priorities to guide the Biden administration's trade policy and also raises serious concerns over the proposed and promulgated restrictive data policies in India and cites them as ‘Digital Trade Barriers'. Given the importance of India-US digital trade, its a serious set back to the attempts by Commerce Ministry to get a trade deal going with Washington.
OCL shareholders fully approve its related party transactions with Paytm Payments Bank
OCL and PPBL material related party transactions got over 71 per cent approval from shareholders, with over 26 crores votes showing as 'abstained' as they are related party members. As per regulations, related party members can either abstain or vote against the resolution. The strong approval to the resolution reinforces the confidence and constant support of all shareholders towards the company.
India's garment export capital singed by the war in Ukraine
Shanmugham, who is himself exporting to Europe, said that the market was slowly recovering from the Covid-19 crisis and they hope that the war will be over and prices of raw cotton will come down so that the industry gets back to normal providing employment to 6 lakh labourers and earning huge foreign exchange for the country.
Petrol prices up again; rise by Rs 7.2 per litre in 12 days
On Saturday, the price of petrol and diesel in New Delhi were increased again by 80 paise per litre. As per pump prices, petrol now costs Rs 102.61 per litre and diesel Rs 93.87 per litre in the national capital. In the financial capital Mumbai, prices were hiked to Rs 117.57 per litre for petrol and diesel to Rs 101.79 per litre. Besides, the prices of both the transport fuels were raised in Kolkata. The petrol prices rose to Rs 122.19 and diesel to Rs 97.02 per litre.
Global cellular IoT module revenue grew 58% YoY in Q4 2021
Quectel's cellular IoT module revenue grew more than 100 per cent YoY in Q4 2021. Strong partnerships, superior service and a wide range of product offerings are supporting its growth. Quectel launched a new ODM brand, Ikotek, targeting the US market.Telit made a strong comeback after a relatively weaker performance in recent history.
Easing supply side constraints of semiconductors fuel March's PV sales' rise
Auto major Maruti Suzuki India on Friday reported a year-on-year rise in its total sales for March 2022 to 170,395 units from 167,014 units sold during the same period of the corresponding year. The company's total sales in the month include domestic sales of 137,658 units, 'sales to other OEMs' of 6,241 units and its highest ever monthly exports of 26,496 units.
MCL records 14% growth in coal production during 2021-22
Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd (CIL), on Friday said it has produced 168 million tonnes (MT) of coal during the financial year 2021-22 registering a growth of about 14 per cent over the previous fiscal. The company said it has set new milestones in all the performance parameters vis-a-vis coal production, despatch and overburden removal (OBR).
India, Australia ink Economic Cooperation & Trade Agreement
India and Australia on Saturday signed the India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA) in a virtual ceremony. Accordingly, the agreement envisages to enhance trade in goods and services. The virtual signing ceremony was attended by Prime Minister Narendra Modi and his Australian counterpart Scott Morrison.
Amazon trying to illegally enter India's physical retail market via Future deal: CAIT to NCLAT
The case pertains to an appeal against the CCI order which had kept the earlier approval given for the Amazon-Future Group deal in abeyance. "CAIT believes that in view of the fraud played by Amazon, the CCI ought to have revoked the order and not kept it in abeyance," the confederation said.
US unemployment drops to 3.6% in March
US employers added 431,000 jobs in March as the Omicron-fuelled Covid-19 surge fades, with the unemployment rate dropping to 3.6 per cent, the Labour Department reported. Job growth was notably in leisure and hospitality, professional and business services, retail trade, and manufacturing, according to a report released on Friday by the Department's Bureau of Labour Statistics (BLS).
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