BUSINESS
At USD 49 billion, Gautam Adani added more wealth than Elon Musk, Jeff Bezos in 2021: Report
This net addition to his wealth is more than what top billionaires Elon Musk, Jeff Bezos and Bernard Arnault added, as per the 2022 M3M Harun Global Rich List released on Wednesday. “Gautam Adani, 59, is the biggest gainer in the M3M Hurun Global List 2022 and added USD 49 billion to his wealth last year… (this addition is) more than top three global billionaires such as Elon Musk, Jeff Bezos and Bernard Arnault,” the list said.
Irish consumer watchdog fines Meta $18.6 mn for 12 data breaches
Ireland's Data Protection Commission (DPC) has fined Meta, Facebook's parent company, 17 million euros ($18.6 million) for several data breaches that affected up to 30 million users. The decision followed an inquiry by the DPC into a series of 12 data breach notifications it received in the six-month period between June 7, 2018 and December 4, 2018. As a result of its inquiry, the DPC found that Meta Platforms infringed Europe's General Data Protection Regulation (GDPR).
Indian fintech payment firms have no data advantage over banks: Moody's
According to Moody's Investors Service, the introduction of the Unified Payment Interface (UPI) in 2017, which allows funds to be transferred instantaneously, has been a key catalyst to the development of digital payments due to the ease of use of apps running on the system.
Indices extend gains on global cues; Sensex up nearly 1,000 pts
Policy rate hike of 25 basis points by the US Fed at its latest meeting and signs of some progress in talks between Russia and Ukraine supported investors' sentiment globally."The economy is very strong, and against the backdrop of an extremely tight labor market and high inflation, the Committee anticipates that ongoing increases in the target range for the federal funds rate will be appropriate," Fed Chairman Jerome Powell told reporters after the policy meeting on Wednesday.
Air fares to go sky-high as jet fuel prices surge
In recent days, fares have risen by around 20-25 per cent on most domestic routes on a month-on-month basis. With ATF prices being hiked to over Rs 1 lakh per kilolitre, fares are expected to rise further. "This time the industry had already braced for an ATF price hike, with most of the airlines hiking fares on certain legs by about 20-25 per cent in the past couple of days," said Aloke Bajpai, Co-founder and Group CEO, ixigo.
'Flight Risk': SC refuses to entertain Shivinder Mohan Singh's temporary bail plea
The Supreme Court on Wednesday declined to entertain a plea by former Fortis Healthcare promoter Shivinder Mohan Singh seeking temporary bail to visit his ailing mother. Solicitor General Tushar Mehta submitted before a bench, headed by Justice M.R. Shah that Singh, the accused in the Religare Finvest money-laundering case, is a flight risk. Counsel representing Singh submitted before the bench.
Battered by dollar crunch, SL to negotiate with IMF & others on loan repayment
Battered by "worst-ever" financial crisis since independence, Sri Lanka's President Gotabaya Rajapaksa has talked to the international financial institutions including the International Monetary Fund (IMF) and other countries on loan repayment. In a special address to the nation on Wednesday night, President Rajapaksa said that talks have been started with IMF to find a way to pay off annual loan instalments and sovereign bonds.
'Global plant-based food market expected to reach $77.8 bn by 2025'
Noting that the plant-based foods industry offers a major opportunity to address climate change, food insecurity, and malnutrition, and public health risk (including pandemics and antimicrobial resistance), a newly-formed body said it can be a major industry catering to both domestic and global markets.
Stocks in which foreign investors raised stake amid outflows
Amid the massive foreign fund outflows, few domestic stocks such as Chambal Fertiliser, Hindustan Petroleum Corporation and ACC, among some others, have attracted foreign investors' attention. Healthy fundamentals and sector-specific outlook of these companies have made them prime targets for foreign investors.
India producing 81% of lithium ion batteries for e-vehicles: Govt
Noting that the electric vehicle is a success story, he told the Rajya Sabha, in response to a question, that there has been a substantial increase in electric vehicles in India - from 24,600 in 2020, to over 49,500 now. Gadkari also said that several startups in the country are also working on alternate battery technologies.
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