Business Markets

Stock Market: Indices open in green, Sensex rises by 123 points

Mumbai (Maharashtra) [India]: Equity indices opened in red on Thursday with Sensex up by 123.84 points and Nifty up by 38.60 points.The 30-scrip BSE Sensex was up by 123.84 points or 0.21 per cent at 57808.63 at 9.18 am. Similarly, 50-scrip NSE Nifty was trading at 17205.50 at 9.18 am, up by 38.60 points or 0.22 per cent.On the Sensex, the sectors which are trading high are consumer durables and power, while the banking sector is trading low.

Business Markets

Equity benchmark indices close in green; Sensex up by 620 points on banking, auto sector gains

Mumbai (Maharashtra) [India]: Indian equity market closed in the green on Wednesday as the banking and auto sector shares gained.At the closing bell, the BSE S&P Sensex was up by 619.92 points or 1.09 per cent, while the Nifty 50 gained by 183.70 points or 1.08 per cent. In BSE Sensex the sectors that saw maximum gain were the banking sector that was up by 1.76 per cent, the auto sector that was up by 1.47 per cent, the finance sector that was up by 1.43.The healthcare sector plummeted by 1.43 per cent.Among stocks, the top gainer was IndusInd Bank, which surged 5.73 per cent to Rs 934.25, followed by Axis Bank up by 3.46 per cent to Rs 679.80 per share.State Bank of India (SBI), Tech Mahindra, and Maruti Suzuki also traded with a positive bias today.Meanwhile, Dr Reddys Labs cracked by 1.58…

Business Markets

This New Social App let’s you Sell Content, Get Gigs and Earn Socially

New Delhi [India] : Given the broken clickbait approach used by social media giants like Facebook & Instagram for years now, and the authentic craving of users to engage with real people (not followers) has led to a resurgence in social apps for a while now – starting with Clubhouse last year since pandemic and its clones, to new-age apps aiming to create a more favourable digital atmosphere catering to the niche tastes of Creators, Professionals & Startups.One such attempt is made by COLCO – Audio-centric Social Network for Professionals & Startups, which touts itself to be World’s 1st Social Collaboration App built specifically to Simplify Earnings from Day 1. Whether you are a Creator, Freelancer, Professional looking for a job, or even a Startup looking to Sell Business Services, this is The Platform for You! We had a chance to get our hands…

Business

RBI imposes Rs 1 crore penalty on Union Bank of India for non-compliance with certain provisions of its directions

New Delhi [India]: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on the Union Bank of India (UBI) for non-compliance with certain provisions of its directions relating to fraud classification and reporting and sale of stressed assets.According to a statement issued by the RBI on November 25, it has imposed a monetary penalty of Rs 1 Crore on Union Bank of India (the bank), for non-compliance with the certain provisions of directions issued by RBI contained in “Reserve Bank of India (Fraud – Classification and Reporting by commercial banks and select FIs) Directions 2016” and “Guidelines on Sale of Stressed Assets by Banks”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949 (the Act).“This action is…

Business Economy TOP NEWS UPDATES

India’s GDP shows remarkable recovery, grows at 8.4% in July-Sept 2021

New Delhi [India] : Showing signs of recovery during the second quarter following a record growth in the first quarter of financial year 2022,  India’s Gross Domestic Product (GDP) grew at 8.45 per cent during the July-September quarter, official data released on Tuesday showed. The GDP growth in April-June quarter this fiscal stood at 20.1 per cent. The Indian economy had contracted by 24.4 per cent in April-June last year. The gross domestic product (GDP) had contracted by 7.4 per cent in the corresponding July-September quarter of 2020-21, according to data released by the National Statistical Office (NSO). GDP at Constant (2011-12) Prices in April-September 2021-22 (H1 2021-22) is estimated at Rs 68.11 lakh crore as against Rs 59.92 lakh crore during the corresponding period of previous year, showing a growth of 13.7 per cent in H1 2021-22 as against a contraction of 15.9…

Business Markets

Bajaj Finance raises Fixed Deposit interest rates, offers up to 7.05 Percent

Pune (Maharashtra) [India] : Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased fixed deposit (FD) rates by 0.30 per cent for tenors between 24 and 60 months.Investors can now get up to 7.05 per cent interest rate on all deposits up to Rs. 5 crores made on and after December 1, 2021. These interest rates are applicable for new deposits and on the renewal of maturing deposits.As the table suggests, there’s an increase of 0.30 per cent for FDs between 24 and 60 months. A senior citizen investing Rs. 2,00,000 for 60 months can earn returns up to Rs. 2,83,652 at maturity. For the same tenor and deposit amount, citizens below 60 years get up to Rs. 2,80,188 on their deposit regardless of their investment mode.Here’s a detailed look at the revised FD interest rates offered by Bajaj Finance…

Business Markets TOP NEWS UPDATES

Twitter gets Indian CEO: IIT Mumbai alumni Parag Agrawal takes Charge

New Delhi [India] : Twitter co-founder Jack Dorsey will step down as CEO of the social media platform and Parag Agrawal is all set to succeed him. The company’s board has unanimously appointed the company’s chief technology officer Parag Agrawal as next Twitter CEO. “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” Dorsey said in a statement. The resignation of Dorsey, who has been heading Twitter as its chief executive since 2015, will come into effect immediately. However, he will remain a member of the Board till around May 2022 to enable a smooth transition. On Sunday, Dorsey sent the tweet “I love…

Business Economy

Reliance Capital welcomes RBI’s decision, blames complexity of litigation for defaults

New Delhi [India]: Reliance Capital Limited welcomed the Reserve Bank of India’s (RBI) decision to resolve the company’s debt in accordance with the Insolvency and Bankruptcy (IBC) Code. In a statement, the company blamed the complexity of litigation for defaults and assured to “fully co-operate with the administrator appointed by the RBI for the expeditious resolution of its debt in the best interests of all stakeholders”.According to RCL’s statement, the complexity of litigation initiated by certain secured and unsecured lenders, resulting in the pendency of over ten cases in various fora, including the Supreme Court, Mumbai High Court, Delhi High Court and Debt Recovery Tribunal (DRT), has effectively stalled the resolution of the company’s debt, despite its best efforts for the past over two years. “The company owns profitable and valuable operating businesses, through its 100 per cent shareholding in Reliance General Insurance Company…

Business Markets

Mukesh Ambani’s Reported Interest In BT Telecom Sees Stock Up 9%

Mumbai [Maharashtra] : Shares in BT jumped 9 per cent on Monday. Reliance Industries was weighing a bid for the British telecoms group. Oil-to-telecoms conglomerate is considering an offer for British telecom company BT Group Plc, , citing sources familiar with the matter. Billionaire Mukesh Ambani’s Reliance might make an unsolicited offer to buy into BT Group or try to get a controlling share in it, the report said, adding that the firm may also propose to partner with BT’s fibre optic arm Openreach and fund its expansion plans. Reliance declined to comment on the report, while BT did not immediately respond to a request for comment. India’s telecoms market, one of the world’s biggest, has been upended by Ambani-controlled Jio Infocomm, which launched with free voice and cut-price data in late 2016. Mr Ambani has forced several rivals out of the market while others…

Business Markets

Adani Group clarifies MSCI action on climate change indices

New Delhi [India] : Adani Group has expressed disappointment by MSCI’s decision to drop Adani Ports and Special Economic Zone (APSEZ) from some of its climate change indices.“We are disappointed by MSCI’s decision to drop Adani Ports and Special Economic Zone (APSEZ) from some of its Climate Change indices. APSEZ has been far ahead of its industry in stating publicly, more than 15 months back, its absolute commitment to achieving carbon neutrality by 2025. In addition, we are also committed to theSBTi (Science Based Targets Initiative),” read an official statement issued by the Adani Group on Sunday. In response to an ESG Controversy Report from MSCI in Q3, APSEZ had clarified to MSCI that it never had any shareholding in the Carmichael mine, and that it had already divested its stakes in both Bowen Rail and NQXT (North Queensland Export Terminal), read the statement.The…

Business Markets

Amazon India Boss Summoned Over Alleged Future Group Deal Irregularities

New Delhi [India] : Amazon India head Amit Agarwal has been summoned by the Enforcement Directorate next week over alleged irregularities in a deal with Future Group, sources have said. Amazon had bought 49 per cent stake in Future Retail in a deal worth some ₹ 1,400 crore in 2019. The Enforcement Directorate’s angle in the case is to see whether the deal violated India’s law on foreign exchange, or the Foreign Exchange Management Act (FEMA), which outlines the formalities and procedures for all such transactions in the country. The FEMA case against Amazon India was filed in January this year. The Enforcement Directorate’s summons came after the Delhi High Court made certain observations on the court fight between Amazon and Mukesh Ambani’s Reliance Industries Ltd. Reading together the three agreements – Future Retail shareholders agreement with Future Coupons, Future Coupons’ shareholders agreement with Amazon, and…

Business

Textiles Week inaugurated at Indian pavillion in Dubai Expo 2020

New Delhi [India]: The ‘Textiles Week’ at the Indian Pavillion in the Dubai Expo 2020 was inaugurated by Vijoy Kumar Singh, Additional Secretary, the Union Ministry of Textiles along with the Trade Advisor Jay Karan Singh.As per a press release from the Ministry of Textiles, the inauguration took place in the presence of heads of participating Export Promotion Councils on Friday. An interactive session on the ‘Sourcing and Investment Destination for Textiles Production Linked Incentive (PLI) Scheme – A Game Changer’ was also organised at the Dubai Expo. The objective of the interaction was to project India’s commitment towards attracting investments in the textile sector so as to enhance production and thereby exports.In his address Chairman, Export Promotion Council for Handicrafts (EPCH), Raj Kumar Malhotra, said that the India Pavilion at Expo 2020 Dubai is one of the biggest platforms that offers a golden…

Business Economy

Export of gems, jewellery more than double this financial year; rises to USD 23.62 bn, says Piyush Goyal

New Delhi [India]: Union Minister of Commerce and Industry Piyush Goyal on Saturday said that India can emerge as the largest diamond trading hub in the world as the exports of gems and jewellery has doubled this financial year.In a video message during the Inauguration Ceremony of Gems and Jewellery Manufacturing Show-2021, Goyal said, “In the first seven months, upto October 2021, the export was 23.62 billion dollars, as compared to 11.69 billion dollars (+102.09 per cent) for the same period in the previous year,” while informing that the Government has declared the Gems and Jewellery sector as a focus area for export promotion. “We have established ourselves as the largest player in diamond cutting and polishing, we can become the largest international diamond trading hub,” he said.“Superior quality of our manufacturers has enabled us to penetrate markets like Dubai-UAE, USA, Russia, Singapore, Hong…

Business Economy

India looking at USD 2.5 Bn investment in textiles sector, create 0.75 Mn jobs

Dubai [United Arab Emirates]: The ‘Textile Week’ kicked off yesterday at the India Pavilion in EXPO2020 with the country looking at a fresh investment of INR 19,000 crore (USD 2.5 Bn) in the sector, which would be key to a ‘Self-reliant India’ and becoming a preferred global sourcing partner in textiles.The textile industry will showcase India’s rich cultural heritage during the week and deliberate on key initiatives taken by the government to create an ecosystem for the country to become a preferred sourcing partner for textile and clothing. In a video message, Minister of State for Textile & Railways, Darshana V Jardosh, said, “The present-day Indian textiles not only reflect the glittering past but also cater to the demands of modern times. Indian textile industry is one of the largest in the world, with a large raw material base and manufacturing strength across the…

Business

RBI imposes monetary penalty on State Bank of India

Mumbai (Maharashtra) [India]: The Reserve Bank of India (RBI) by an order dated November 16 has imposed a monetary penalty of Rs 1 crore on the State Bank of India for contravention of section 19 (2) of the Banking Regulation Act, 1949 (the Act), informed RBI.“This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers,” reads the official release. As per the press note, the irregularities were identified after a Statutory Inspections for Supervisory Evaluation (ISE) of the bank was conducted by RBI with reference to its financial positions as on March 31, 2018, and March 31, 2019, and the examination of the Risk Assessment Reports, Inspection Report and all related correspondence pertaining to the same, revealed, inter-alia, contravention of section 19 of…

Business Markets

Equity indices fall by nearly 3 pc; realty, metal drags Sensex to 1687.94 pts

Mumbai (Maharashtra) [India]: As concerns of a new coronavirus variant surface, the key equity indices fall by nearly 3 per cent each on Thursday, leaving the Indian markets bleeding.At the closing bell, the BSE S&P Sensex slumped to 1687.94 points or 2.87 per cent, while the Nifty 50 dropped by 509.80 points or 2.91 per cent. Just a day after the markets revived, the renewed threat of COVID, losses in Asian stocks, plummeted realty and metal sectors are among a few factors leading to the major crash.While all sectors witnessed significant losses, only the healthcare sector managed to gain with 1.18 per cent. The sectors facing major losses, other than realty and metal are auto and basic materials.Among stocks, the top gainer was Dr Reddys Labs which surged 3.32 per cent to Rs 4,744.90 per share, followed by Nestle up by 0.35 per cent…

Business TOP NEWS UPDATES

SENSEX Down by over 1600 points, panic in markets

The Indian equity benchmarks suffered their worst single-day drop since April 12 on Friday on weak global cues after investor sentiment was dented by detection of a new and possibly vaccine-resistant coronavirus variant. The Sensex fell as much as 1,801 points or 3 per cent and Nifty 50 index briefly dropped below its important psychological level of 17,000 to hit an intraday low of 16,985. Both the benchmarks fell to their lowest level in three month The Sensex fell 1,688 points or 2.87 per cent to close at 57,107 and Nifty 50 index dropped 510 points or 2.9 per cent to end at 17,026. Global stocks tumbled on Friday and oil fell below $80 a barrel after news of a possibly vaccine-resistant coronavirus variant sent investors scurrying to the safety of bonds, the yen and the Swiss franc. European stocks plunged 2.7 per cent, on track for their…

Business Markets

Equity benchmark indices close in green; Sensex up by 454 points as energy sector gains

Mumbai (Maharashtra) [India]: Indian equity market closed on a positive note on Thursday as the energy and realty sector shares gained.At the closing bell, the BSE S&P Sensex was up by 454.10 points or 0.78 per cent, while the Nifty 50 gained by 121.30 points or 0.70 per cent. In BSE Sensex the sectors that saw maximum gain were the energy sector that was up by 4.47 per cent, the realty sector that was up by 1.86 per cent, the healthcare sector that was up by 1.53 and the telecom sector was up by 1.51 per cent.Among stocks, the top gainer was Reliance, which surged 6.10 per cent to Rs 2,494.40, followed by ITC up by 1.49 per cent to Rs 231.30 per share.Infosys, Tech Mahindra and Kotak Mahindra also traded with a positive bias today.Meanwhile, IndusInd Bank cracked by 1.27 per cent, Maruti…

Business PSU

Taiwan and India explore partnership for Smart & Green India

New Delhi [India] : Taiwan External Trade Development Council (TAITRA) launched the Taiwan Product Centre (TPC) in India with the aim to support its business ties and expand its market presence in India.Apart from enabling business interaction with Indian companies, TPC has also scaled up its state-of-the-art products and technology offering across their Centres in Delhi, Chennai, and Mumbai. The pandemic-induced economic and social crisis has brought the two democracies, Taiwan and India closer through trade and economic ties. In fact, the trade relations between India and Taiwan have grown exponentially over the past five years majorly because both countries find close synergy to shift, transform and lead supply chains, be it ‘Make in India’ initiative, for Aatmanirbhar Bharat or the new south-bound policy in action for Taiwan. Taiwanese companies want to take advantage of this trade relation and business opportunities, for setting up…

Business

Coaching and Mentoring will be at the core of the higher Edtech revolution taking over the world

Mumbai (Maharashtra) [India] : upGrad, Asia’s higher EdTech major is moving strongly with its goal of reforming the education culture not just in India but beyond through its one-of-a-kind 1:1 career Coaching and Mentoring initiative.Transcending geographical barriers, the higher-ed major has built a powerful panel of over 5500 mentors and career coaches that includes global industry leaders from top universities, large corporates, and MNCs as well as faculty from top national and international universities. “Online education of today is no longer only about delivering content virtually but is also about supporting learners with the best of professional guidance during their career progression. Education or EdTech is a subset of a larger ecosystem of Coaching/Guidance/Mentoring just like a taxi is a subset of transportation. Our endeavour, as we scale our presence in the education space, is to lead from the front and establish upGrad as…

Business Economy

India has set ambitious target of USD 400 billion exports for 2021-22, says Foreign Secretary

New Delhi [India]: Underlining goals of promoting the three Ts – Trade, Tourism and Technology, Foreign Secretary Harsh Vardhan Shringla on Wednesday said that India has set an ambitious target of USD 400 billion of exports for the year 2021-22.The Foreign Secretary made these remarks at the Annual Session of the Indian Chamber of Commerce held in Kolkata titled ‘Bharat@75: Empowering India: Today for Tomorrow’. Referring to the recent interaction of Prime Minister Narendra Modi with Heads of Indian Missions abroad and with stakeholders in trade and commerce, Shringla said that the PM gave concrete directions on how work can be done to further the goal of promoting the three Ts – Trade, Tourism and Technology.“An ambitious target of USD 400 billion of exports has been set up for the year 2021-22. The business of Indian diplomacy is, thus, business. We at the Ministry…

Business Economy

Indian economy has returned to high growth path, says Harsh Vardhan Shringla at Indian Chamber of Commerce meet

Kolkata [India]: Foreign Secretary Harsh Vardhan Shringla on Wednesday highlighted that the Indian economy has returned to the high growth path and India’s GDP grew by over 20% in the first quarter of 2021-22.The Foreign Secretary said this in his address at the Annual Session of the Indian Chamber of Commerce held in Kolkata titled ‘Bharat@75: Empowering India: Today for Tomorrow’. Shringla emphasized India’s economic growth trajectory despite challenging times.“That India would have a role in world affairs would have been little more than an aspiration at the time this Chamber was founded. India was still a subject nation and independence, a distant dream. Independence, the trauma of Partition, and the struggles of emerging nationhood were in the future,” the Foreign Secretary said“That India would have a role in world affairs would have been little more than an aspiration at the time this Chamber…

Business Markets

The wait is finally over: The progressive Bounce Infinity will be officially launched

Bengaluru (Karnataka) [India] : Bounce, India’s first smart mobility solution company, is all set to launch its first consumer electric scooter, Bounce Infinity, on 02 December 2021.The event will live-stream from 01:30 pm onwards on the brand’s YouTube channel. Bookings for purchase begins the same day and deliveries are slated for early next year. This advanced ‘Made in India’ scooter can be booked at a nominal amount of INR 499. ‘Battery as a service’ option – the first of its kind in the Indian market, where customers will also have an option to purchase Bounce Infinity at an affordable price without the battery and use Bounce’s extensive battery swapping network to be on the move. Customers will only have to pay for the battery swaps, whenever they exchange an empty battery with a fully-charged one from Bounce’s swapping network.Customers will also have the option…

Business Markets

Equity indices open in green, Sensex up by 69 points

Mumbai (Maharashtra) [India]: Equity indices opened in green on Wednesday with Sensex up by 69.28 points and Nifty up by 29.30 points.The 30-scrip BSE Sensex was up by 0.12 per cent at 58733.61 at 9.20 am. Similarly, 50-scrip NSE Nifty was trading at 17532.60 at 9.20 am, up by 29.30 points or 0.17 per cent.On the Sensex, the sectors which were trading high with maximum gain are realty sector at 1.08 and power at 1.07.

Business Economy

Target is to take turnover of auto sector to Rs 15 lakh crore in 5 years, says Nitin Gadkari

Greater Noida (Uttar Pradesh) [India]: Union Road Transport Minister Nitin Gadkari on Tuesday said that the Centre’s mission is to increase the turnover of the automobile industry to Rs 15 lakh crore within the next five years.“The current turnover of the automobile sector of the country is Rs 7.5 lakh crore, out of which Rs 3 crore is export. My aim is to make the auto industry to the volume of Rs 15 lakh crore within the next five year, ” Gadkari said as he inaugurated Maruti Suzuki and Toyota Tsusho Group’s government-approved scrapping in Greater Noida. Recently, Prime Minister Narendra Modi at the COP26 summit said India is aiming for net zero carbon emissions by 2070.Gadkari said that for this purpose, the government was encouraging the usage of CNG, LNG, green hydrogen, ethanol fuels and electric vehicles.“Our current import of fossil fuel is…

Business Markets

Equity benchmark indices close in green, Sensex up by 198 points

Mumbai (Maharashtra) [India]: Indian equity market closed in green on Tuesday as the metal and power sector shares gained.At the closing bell, the BSE S&P Sensex was up by 198.44 points or 0.34 per cent, while the Nifty 50 gained by 86.80 points or 0.50 per cent. In BSE Sensex all the sectors, other than the Information Technology (IT) sector gained. The sectors that saw maximum gain were the metal sector that was up by 3.48 per cent, the power sector that was up by 3.20 per cent, the utilities sector that was up by 3.11 and the realty sector was up by 2.35 per cent.Among stocks, the top gainer was the Power Grid Corp, which surged 3.91 per cent to Rs 201.85, followed by NTPC Limited up by 2.53 per cent to Rs 133.50 per share.Tata Steel, Bharti Airtel and Sun Pharma also…

Business Economy TOP NEWS UPDATES

India To Release 5 Million Barrels Crude With US, Japan To reduce Prices

New Delhi [India] : India has decided to release five million barrels of crude oil from its strategic petroleum reserves (SPRs) simultaneously with countries like the US, Japan, China and Republic of Korea. In an official statement, the petroleum ministry said that the crude oil release will take place in consultation with these countries, which are also major global energy consumers. The decision has come amid reports that the US has urged these nations to release crude oil from their respective reserves. The move is being considered to bring down global prices of the commodity. India holds about 26.5 million barrels of oil in is reserves. “India strongly believes that the pricing of liquid hydrocarbons should be reasonable, responsible and be determined by market forces. India has repeatedly expressed concern at supply of oil being artificially adjusted below demand levels by oil producing countries, leading to…

Business Markets

Zydus Wellness chooses Pando to accelerate digital transformation

Chennai (Tamil Nadu) : Zydus Wellness, one of the largest consumer goods companies with power brands like Complan, Sugar Free, Glucon-D, Nycil, Nutralite, Sugarlite, Everyuth, etc has chosen Pando’s 10xTMS, a leading Networked-TMS Platform to accelerate the digital transformation of their supply chain and logistics operations.Zydus foresees a multi-fold growth by penetrating deeper markets within India and digitalizing their supply chain and logistics operations becomes vital to translate this vision. Trusted by more than 50 million consumers, Zydus has a complex network of 5 manufacturing facilities across 4 states, 24 distribution centers with Ambient and Cold-Chain Warehouses, 1700+ Distributors, 2000+ feet on ground to augment their consumer outreach and fulfill the demand potential. Zydus is embarking on the digitalization of their supply chain and logistics operations with Pando to help optimize and scale effectively. Pando Networked TMS Platform will enable and drive:Significant reduction in freight spends through…

Business Markets

Morning Slide: Sensex down by 502 points

Mumbai (Maharashtra) [India], November 23 (ANI): Equity indices opened in red on Tuesday with Sensex down by 502.92 points and Nifty down by 134.70 points. The 30-scrip BSE Sensex was down by 502.92 points or 0.86 per cent at 57962.97 at 9.15 am.Similarly, 50-scrip NSE Nifty was trading at 17281.80 at 9.15 am, down by 134.70 points or 0.77 per cent. On the Sensex, the sectors which are trading high are metal and basic material, while realty and finance are trading low. (ANI)

Business

Bangalore to host the fifth edition of Indian Fharma Fair in hybrid mode

New Delhi [India]: The fifth edition of Vedshiv Business Media’s Indian Fharma Fair (IFF) 2021, a pharmaceutical and healthcare exhibition, will be held in at Manpho Convention Center, Bangalore from November 27 28. This expo will focus on current trends and innovations in Indian healthcare, including generic drug manufacture, allopathic, nutraceutical, Ayurvedic and herbal medicine, cosmetics, technological development, and so on.The Indian Pharma Fair is one of the country’s major pharma exhibits, bringing together hundreds of industry professionals to discuss their experiences with goods, customers, business, and sales. This pharmaceutical expo brings people from all around the world together in one place. It is one of the largest B2B trade exhibitions in the business, including attendees from the healthcare and pharmaceutical industries.“This exhibition will focus on expanding the pharmaceutical industry in India, mostly through PCD/franchise 3rd party manufacturing. This exhibition is expected to attract pharma specialists…

Business

India Pavilion recognized as ‘One of the Most Iconic’ at Dubai EXPO2020 by American Institute of Architects

Dubai [UAE]: The India Pavilion at EXPO2020 Dubai, which is one of the most-visited pavilions, recording 3.5 lakh visitors in less than 50 days of inauguration, has also been recognized as ‘One of the Most Iconic’ pavilion among participating country pavilions by the American Institute of Architects (AIA).On this remarkable achievement of India at EXPO2020, AIA President Daniel S Hart said, “We are pleased to be a part of India’s journey and success at the EXPO2020 and are happy to celebrate the achievement. At AIA, our primary goal is to ensure the safety of the planet with a focus on sustainable practices. The India Pavilion has achieved the same while representing the diverse cultural background of the country. The Pavilion not only showcases the rich history of the country, but also represents the numerous opportunities, possibilities and offers a window into the future. The…

Business Markets

Equity benchmark indices close in red; Sensex tanks 1,170 pts, Nifty slips below 17,500

Mumbai (Maharashtra) [India] : Stock markets witnessed a bloodbath since the opening on Monday, with the benchmark index continuing the downside move throughout the day and crashing by almost 2 per cent at the closing bell.At the closing bell, the BSE S&P Sensex was down by 1170.12 points or 1.96 per cent at 58465.89, while the Nifty 50 dropped by 348.30 points or 1.96 per cent at 17416.50. In BSE Sensex, the sectors which plummeted the most were the energy sector with a decline of 3.99 per cent, consumer durables with 3.22 per cent, the auto sector with 3.07 per cent, and oil and gas with 3.00 per cent.The only sectors that gained were Telecom by 2.92 per cent and metal by 0.07 per cent.Among stocks, the top gainer was Bharti Airtel which surged 3.90 per cent to Rs 742.05 per share, followed by…

Business Markets

Mirae Asset Mutual Fund launches ETF scheme replicating Hang Seng TECH Index

Mumbai (Maharashtra) [India] : Mirae Asset Mutual Fund, one of the fastest growing fund houses in India which invests in the equities and debt segments, today announced the launch of ‘Mirae Asset Hang Seng TECH ETF’, an open-ended scheme replicating/tracking Hang Seng TECH Total Return Index and the ‘Mirae Asset Hang Seng TECH ETF Fund of Funds’, an open-ended fund of fund scheme predominantly investing in units of Mirae Asset Hang Seng TECH ETF.The NFO for both the funds will open for subscription on November 17, 2021. While the Mirae Asset Hang Seng TECH ETF will close on November 29, 2021 & the Mirae Asset Hang Seng TECH ETF Fund of Fund will close on December 1, 2021. The Mirae Asset Hang Seng TECH ETF will be managed by Siddharth Srivastava, while the Mirae Asset Hang Seng TECH ETF Fund of Fund will be managed by Ekta…

Business Markets TOP NEWS UPDATES

Police charge Amazon India executives in drug smuggling case

New Delhi [India] : Last week, police in the central state of Madhya Pradesh arrested two men for allegedly trafficking 20kg of the drug to other Indian states. Police say the men had traded cannabis on the site in the guise of selling stevia leaves, a natural sweetener. Amazon says it does not allow the listing and sale of illegal products. The company also said that it takes strict action against sellers found to be breaking its rules on illicit goods. “The issue was notified to us and we are currently investigating it,” Amazon added in a statement in response to the case. State police said executive directors of Amazon India had been charged under the Narcotic Drugs and Psychotropic Substances Act. This was due to “differences in answers in documents provided by the company in response to police questions and facts unearthed by…

Business Markets

Spowdi’s zero-emission irrigation system resonates with small-hold farmers

Bengaluru/New Delhi (Karnataka) [India] : Four years after Sweden’s Greentech start-up Spowdi was handpicked for the India-Sweden Innovations Accelerator program, its zero-emission irrigation solution has found resonance with farmers, says Business Sweden.“We saw much merit in bringing Spowdi’s innovation to India,” said Pawan Tahlani, Head of Sustainability (India) at Business Sweden. “When we heard about Spowdi’s solar-powered mobile irrigation pumps, we knew the innovation was a right fit to empower small-hold farmers in India,” he added. His statement comes just days after COP26, where India announced its aim to enhance its non-fossil energy capacity to 500 GW and to achieve 50% of its energy requirements with renewable energy by 2030.Highlights:* Tested in Indian conditions: Tested across multiple Indian terrains* Zero diesel usage. Relies on the sun as its only energy source.* Zero CO2 emissions: Compared to diesel pumps or other fossil fuel energy pumps used…

Business Markets

Brent crude price drops below USD 78 per barrel first time since start of October

Moscow [Russia]: The price of January futures for Brent crude dropped below $78 per barrel in the early hours of Monday, reaching a record low for the first time since October 1.As of 02:02 Moscow time on Monday (23:02 GMT on Sunday), the price of January futures for Brent was dropping 0.69 percent, to $77.93 per barrel. The price of January futures for WTI crude was going down 0.56 percent in the early hours of Monday, to $75.19 per barrel.

Business Markets

Pune’s Goel Ganga Group MD wins prestigious awards

Pune (Maharashtra) [India] : Pune-based real estate developer Goel Ganga Group and its managing director have been awarded two prestigious awards at the recently held Business Leadership Awards 2021.Goel Ganga Group was honoured with the “Best Real Estate Company of the Year”. At the same time, the Group’s Managing Director Atul Goel was conferred the “Best Real Estate Professional of the Year” award. The awards, an initiative of Feather Touch Foundation, are given for excellence and leadership in the real estate sector. Goel Ganga Group was selected for the award owing to its high-quality work, setting new benchmarks in the real estate sector, and excellent track record of delivering projects on time. Atul Goel was honoured for the prestigious award due to his leadership and managerial abilities, which have catapulted the Goel Ganga Group among the top real estate developers of Pune.“We are proud…

Business

Finance Minister announces clearance to 3 key projects worth Rs 500 crore for IFSCA

New Delhi [India]: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced clearance to three key projects worth more than Rs 500 crore for International Financial Services Centres Authority (IFSCA) in her visit to GIFT-City in Gujarat’s Gandhinagar, informed the Ministry of Finance on Saturday.The union minister leads a delegation including the two Ministers of State for Finance and Secretaries from the Ministry of Finance and Ministry of Corporate Affairs to Gujarat International Finance Tec (GIFT) City, the release read. The delegation engaged in discussions on matters of development and growth of India’s maiden International Financial Services Centre (IFSC) at GIFT City in Gandhinagar.The presentations covered all aspects of the journey of GIFT-IFSC with reference to the initial vision of Narendra Modi, how far things had come and the way forward to further elevate the stature of GIFT.Thereafter, an open discussion was organized…

Business

Khaled bin Mohamed bin Zayed visits Youth pavilion at Expo 2020 Dubai

Dubai [UAE]: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, has toured the Youth pavilion at Expo 2020 Dubai.During the visit, Sheikh Khaled praised the young Emirati team behind the design and implementation of the pavilion, which aims to connect youth from around the world. He toured the pavilion with Shamma bint Suhail Al Mazrouei, Minister of State for Youth Affairs, and Vice President of the Arab Youth Centre, and Saeed Al Nazari, Director General of the Federal Youth Foundation and Chief Strategy Officer at the Arab Youth Centre.He was briefed on the pavilion’s experiences, which take visitors on an interactive journey of empowerment.He also discussed with the team the message of the pavilion, which represents a global platform for youth from around the world, and serves as an…

Business PSU

Rashtriya Sainik Sansthan to launch AI based project on Telemedicine

Dehradun (Uttarakhand) [India] : In a facilitation ceremony organized by ex-servicemen in Dehradun in November, 2021, Uttarakhand Governor, Lt. Gen. Gurmit Singh (Retd.), shared his vision of empowering Uttarakhand and focusing on rural rejuvenation, women empowerment, youth employment and uplifting the ex-servicemen and their families staying in rural areas.During this event the ex-servicemen requested the team of Rashtriya Sainik Sansthan to implement a project in medicine in rural areas involving ex-servicemen and their families, as it is need of the hour. At that time the seed for inception of this project was sown. In a board meeting of Rashtriya Sainik Sansthan it was concluded to launch projects in four keys areas in Uttarakhand – Health, Education, Environment and Technology in phases. It was decided to launch AI based project in telemedicine – Jan Mitr in first phase. “Jan-Mitr” will be an ex-servicemen or his…

Business Economy

Increase in inflation in Delhi was 2 pc less than national rate in 2020-21, says Manish Sisodia

New Delhi [India]: Delhi Deputy Chief Minister and Finance Minister Manish Sisodia on Friday released the Annual Report of the Price Index for Delhi prepared by the Directorate of Economics and Statistics for the Financial Year 2020-21.On the occasion, Sisodia said, “In the Financial Year 2020-21, the rate of growth in average annual inflation based on Consumer Price Index (CPI) was 5 per cent nationally while in Delhi this rate was only 3.0 per cent.” In a statement on this report, Manish Sisodia said that the Kejriwal Government is committed to the common man and always stands with him.During the COVID-19 pandemic, when the inflation rate increased rapidly in the entire country, the Kejriwal Government did not allow an increase in inflation in Delhi.“The inflation rate increased sharply during COVID in the country and the prices of essential commodities increased. In Delhi, however, the…

Business Markets

Italy-based IQT Consulting sets feet in India

New Delhi [India] : With a major focus on development projects and to work for innovation and sustainability, Italy-based IQT Consulting has set its feet in the country and has registered in India.The renowned global brand has a business presence and interest in areas in design engineering, project management, and asset management and shall be endeavoring to work in large developmental & national mission projects in municipal infrastructure, water resources, telecom infra and smart buildings sector, spearheaded by seasoned infrastructure industry professional Sachin Pant as its CEO & Director. Speaking about IQT India’s plans and vision, Sachin Pant, CEO & Director, IQT IN said, “India is accelerating its progress to emerge as the world’s strongest economy by bolstering its infrastructure and fostering an ecosystem of innovation, sustainability, and development. We believe this is the right time to expand our vision and plans in the…

Business

“Beginners of start-ups today, owners of big industries tomorrow”

New Delhi [India]: Union Minister of State for Commerce & Industry, Som Parkash has reiterated Prime Minister Narendra Modi’s statement that start-ups have become India’s third fastest-growing programme and said the beginners in the start-up today will be the owners of big industries tomorrow.Speaking to ANI on Thursday, the union minister said that India is moving ahead at a fast pace and the youth are starting their work after registering themselves. “More than 97,000 have been registered with us so far from almost every district of the country. We have started state-wise awards and we have begun rating them. The young people who are beginning their start-ups today will be leaders of the future and the owners of big industries,” Som Parkash said.The union minister said that the concessions are being given to the youth who want to register for the start-up.“There is the…

Business Markets

Equity benchmark indices close in red; metals, auto drag Sensex down by 433 points

Mumbai (Maharashtra) [India]: The key equity indices had a volatile day on Thursday. The market opened in the green, but the benchmark index continued the downside move throughout and all the sectors ended in the red at the closing bell.At the closing bell, the BSE S&P Sensex was down by 433.05 points or 0.72 per cent, while the Nifty 50 dropped by 133.90 points or 0.75 per cent. In BSE Sensex, the sectors which plummeted the most were the metal sector with a decline of 2.76 per cent, the auto sector with 2.32 per cent, and the capital goods with 1.89 per cent.Among stocks, the top gainer was State Bank of India (SBI) which surged 1.16 per cent to Rs 503.95 per share, followed by Power Grid Corp up by 0.63 per cent to Rs 192.35 per share. HDFC Bank, Reliance, and ICICI Bank…

Business Markets

Equity indices open in green, Sensex up by 158 points

Mumbai (Maharashtra) [India]: Equity indices opened in green on Thursday with Sensex up by 158.53 points and Nifty up by 38.60 points. The 30-scrip BSE Sensex was up by 0.26 per cent at 60166.86 at 9.25 am.Similarly, 50-scrip NSE Nifty was trading at 17937.30 at 9.25 am, up by 38.60 points or 0.22 per cent. On the Sensex, the sectors which were trading high with maximum gain are realty sector at 1.07 and consumer durables sector at 0.63. (ANI)

Business Markets

Equity indices open in red, Sensex down by 150 points

Mumbai (Maharashtra) [India]: Equity indices opened in red on Wednesday with Sensex down by 149.92 points and Nifty down by 42.10 points.The 30-scrip BSE Sensex was down by 149.92 points or 0.25 per cent at 60172.45 at 9.35 am. Similarly, 50-scrip NSE Nifty was trading at 17957.10 at 9.35 am, down by 42.10 points or 0.23 per cent.On the Sensex, the sectors which are trading high are auto, and power, while the realty and energy sector are trading low.

Business Economy

India has potential to grow at reasonably high pace in post-pandemic scenario, says RBI Governor

Mumbai (Maharashtra) [India]: India has the potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday.Addressing the SBI Banking and Economics Conclave 2021, the RBI Governor said that numerous high-frequency indicators suggest that economic recovery is now taking hold. “There are signs that consumption demand, triggered by the festive season, is making a strong comeback. This should encourage firms to expand capacity and boost employment and investment amidst congenial financial conditions,” said Das.He noted that the recent cut in excise duty on petrol and diesel by the Central government and in value-added tax (VAT) by several state governments will augment the purchasing power of the people, which, in turn, he said, “will create space for additional consumption.”“I firmly believe that India has the potential to grow at a reasonably high pace…

Business Economy TOP NEWS UPDATES

Big Business: Paytm IPO allotment status out

New Delhi [India] : Paytm IPO allotment status is out. Investors can check their Paytm share allotment status on the IPO registrar LinkIntime’s website by entering PAN Number or Application Number or DP/Client ID or Account No / IFSC. The digital payments and financial services firm allocated shares at the upper price band of Rs 2,150 apiece. Paytm shares are likely to be listed on the NSE and BSE on November 18. In the grey market, Paytm shares are trading at the lowest premium since the issue was opened for subscription. Paytm share grey market premium has reduced below 2 per cent to trade at Rs 30-40 apiece. It means that Paytm shares are available at a price of Rs 2,180 in the grey market. Based on the bid received for Paytm’s Rs 18,300 crore initial public offer (IPO), the company will list an…

Business Markets

Bajaj Housing Finance Limited’s flat processing fee of Rs. 1,999 plus GST offer

Pune (Maharashtra) [India] : Festivities with Bajaj Housing Finance Limited continue as the lender announces an extension on its ongoing festive offer of a flat processing fee of Rs. 1,999*+ GST on home loans.The offer was due to expire on 15 November 2021, but now its benefits can be enjoyed till 30 November 2021. Interested applicants are advised to make a note of the following points: The offer is applicable on home loans disbursed till 31 December 2021The offer is valid only on home loan applications filed online, through the lender’s official website, till 30 November 2021The offer can be availed of by salaried and professional applicants onlyThe Lender’s Home Loan ApplicationBajaj Housing Finance Limited, a 100% subsidiary of Bajaj Finance Limited, offers one of the most competitive housing loan interest rates in the market, starting from 6.70%* p.a., for salaried and professional applicants…

Business Markets

Moving Solutions expanded its legs to 28 states and more than 2500 cities

New Delhi [India] : Movingsolutions.in, a trusted online transport service booking portal in India, has now expanded its logistics business by covering 28 states and 2500+ cities.With the association of 2000+ authorized service providers, the company is offering a wide range of relocation services for household transportation, commercial shifting, bike, and car transportation services. The company has currently more than 2000 service providers, who have their branches pan India. And by collaborating with them, Moving Solutions has now covered all the 28 states of the country. Well, the company is already working with a wide range of clients from different places and regions across the globe.Moving Solutions is well-known for its quality services for both local and interstate relocations. It is an expert in packing & shifting and a complete relocation service provider too. The company understands the difficulties people face while hunting for…

Business

Parliamentary panel on Finance meets stakeholders, lays thrust on regulation of cryptocurrency

New Delhi [India]: The Standing Committee on Finance on Monday heard views of industry experts and associations on issues concerning ‘crytofinance’ and there was an understanding that cryptocurrency cannot be stopped but it must be regulated, sources said.They said there was a consensus that a mechanism should be put in place to regulate cryptocurrency. However, the industry associations and stakeholders were not clear as to who should be the regulator, the sources said. Security of investors’ money was the most serious concern expressed by MPs at the meeting. Sources said an MP expressed concern over full-page crypto ads in national dailies and added that experts stated that cryptocurrencies are some sort of investors’ democracy.An MP told the meeting that El Salvador is the only country to recognize cryptocurrency as a legal tender. A member referred to an advertisement which claimed that “crores of Indians…

Business Markets

TerraPay partners with MTN Mobile Money Uganda Limited to aid real-time international money transfers into key international corridors

The Hague [Netherland] : TerraPay, a global payments infrastructure company, today announced its association with MTN Mobile Money Uganda Limited, a leading telecom operator in Uganda and part of the MTN Group.The partnership will enable MTN Mobile Money Uganda Limited in facilitating international digital cross border remittances and speedy money transfers to beneficiaries in regions such as India and China. Since 2020, TerraPay has been offering inbound remittances to MTN Mobile Money Uganda Limited’s mobile wallets. In its drive to build global payments highways that interconnect mobile wallets and banks across the world, TerraPay aims to cultivate inclusivity, independence, digital mobility and empowerment amongst everyone, with the additional outbound remittance channels now opened up.Speaking on the occasion, Willie Kanyeki, Regional Director, East and Southern Africa, TerraPay said, “Since last year, TerraPay has partnered with MTN Mobile Money Uganda Limited as a digital payments infrastructure…

Business Markets

Equity indices open in green, Sensex up by 278 points

Mumbai (Maharashtra) [India]: Equity indices opened in green on Monday with Sensex up by 278.49 points and Nifty up by 87.90 points.The 30-scrip BSE Sensex was up by 0.46 per cent at 60965.18 at 9.46 am. Similarly, 50-scrip NSE Nifty was trading at 18190.70 at 9.46 am, up by 87.90 points or 0.49 per cent.On the Sensex, the sectors which were trading high with maximum gain are Healthcare at 1.27 and oil and gas at 0.85.

Business

Karnataka Bitcoin scam: Issue turned bigger as Opposition did not investigate when in power, says Bommai

Bengaluru (Karnataka) [India]: Karnataka Chief Minister Basavaraj Bommai on Sunday slammed the Congress party over the alleged bitcoin scam and said that the “issue had become bigger” because the Opposition did not probe the matter properly when it was in power.“They (Congress) say that the matter began in 2016. If there was something related to Karnataka, then why the party in power did not notice it at that time. You have got to know about the accused, but did not do the proper enquiry,” said an official statement issued by the Chief Minister Office. Further, Bommai said, “Why did not you do proper enquiry when you (Congress) were in power? You left it and the issue had become bigger. And now you are questioning us.”“On the basis of the Twitter handle, they are alleging the scam. Anyone can raise the issue on Twitter. If…

Business Economy

PM Modi meets World Economic Forum president, highlights India’s economic reforms

New Delhi [India]: Prime Minister Narendra Modi on Saturday met the President of the World Economic Forum, Borge Brende and highlighted India’s efforts towards strengthening the fight against COVID-19 and the economic reforms undertaken in the country.“It was a delight to meet you @borgebrende and have an insightful interaction with you on several subjects. Highlighted India’s efforts towards strengthening the fight against COVID-19 and the economic reforms undertaken in the last few months,” PM Modi tweeted. The Prime Minister had quoted a tweet by Borge Brende that said, “Had an excellent and very substantial meeting with the Hon’ble PM @narendramodi. India is again the fastest growing of the large economies. Expecting two digit growth next year while India is celebrating its 75 years of Independence and prepares for its G20 Presidency.”Earlier, the President of the World Economic Forum met Union Minister for Housing &…

Business Markets

MobiKwik launches ‘MobiKwik RuPay Card’ in association with NPCI and Axis Bank

Gurugram (Haryana) [India] : MobiKwik, one of the largest mobile wallets and Buy Now Pay Later (BNPL) Fintech companies in India, has collaborated with National Payments Corporation of India (NPCI) and Axis Bank to launch “MobiKwik RuPay Card”.The card will be free of charge to customers and purely digital keeping in line with the growing demand for digital payments across online and brick and mortar stores. The customers can now get up to Rs. 200,000 of their MobiKwik wallet balance mirrored on the MobiKwik RuPay Prepaid Card. The integration of the card with MobiKwik wallet will allow MobiKwik customers to use the card and wallet balance at over 41 million merchants across 190 countries, in addition to the MobiKwik merchant network.The card users will automatically qualify for MobiKwik Zip, a flagship BNPL product, which provides up to Rs. 30,000 credit in the user’s wallet. The users…

Business

IIT Madras-based Start-up Agnikul Cosmos unveils Made in India Rocket Engine at Dubai

Chennai (Tamil Nadu): IIT Madras-based Space Tech start-up, Agnikul unveiled its full-scale second-stage engine – Agnilet at the International Astronautical Congress (IAC) and at the World Expo in Dubai.Agnikul inked multiple agreements with various stakeholders in the event which will directly catalyze its efforts of launching in 2022. Agnilet is the world’s first single-piece 3D printed engine fully designed and manufactured in India and was successfully test-fired in early 2021 by Agnikul. Agnikul had an opportunity to showcase this engine at IAC 2021 which is the most prestigious space tech gathering in the world.Speaking about IAC & revealing Agnilet there, Moin SPM, Co-founder & COO, Agnikul, said, “The unveiling of Agnikul’s engine at a global stage such as the IAC, allowed us to showcase the capabilities of Indian space tech startups to the international community and allowed us to forge agreements with multiple commercial…

Business Markets

Alcor announces SOC 1 Type 1 certification for their IAM Product, AccessFlow

New Delhi [India] : Alcor, a leading partner in the digital transformation space and global provider of cloud solutions, security, and implementation services, announced the successful completion of the Service Organization Control (SOC) 1 Type 1 certification for AccessFlow, an Identity and Access Management Solution.AccessFlow is an automated, self-service access management product built on the ServiceNow® Now Platform that offers seamless integration with Enterprise Resource Planning (ERP) environments. As a Built on Now native application for ServiceNow, AccessFlow provides the performance, Security, and GUI of the Now Platform – designed and tested for fast, agile, secure, resilient, and connected digital transformation.SOC 1 compliance certification is an attestation standard defined by the American Institute of Certified Public Accountants (AICPA), certifying that AccessFlow’s Internal Control over Financial Reporting (ICFR) are approved to meet the highest level of data protection for the customers. This report provides regulatory compliance…

Business Economy TOP NEWS UPDATES Views & Voices

China’s Economy: The Big Power Crunch

By Kshvid News Desk with inputs from agencies Policy measures have been put in place to help generate equality, which has potentially led to issues as China’s factory outputs have been at their lowest since the start of the pandemic, and they GDP has grown 0.3% under what was forecast. China has been long hailed as having the world’s largest economy (when measured in Purchasing Power Parity). In terms of GDP, it is on track to being the largest global economy in 2028, and currently ranks second in GDP, next to the USA. However, recently, a complex mix of changing policy, issues in property construction and power issues have led to larger issues for China’s economy. This has led to experts suggesting that China needs to change policies in order to create more liquidity in the interbank market, and to relax obtainment of credit…

Business Markets

Equity benchmark indices close in red, realty sector drags Sensex down by 433 points

Mumbai (Maharashtra) [India]: Indian equity market closed in red on Thursday as the realty, healthcare and banking sector shares plummeted.At the closing bell, the BSE S&P Sensex was down by 433.13 points or 0.72 per cent, while the Nifty 50 dropped by 143.60 points or 0.80 per cent. In BSE Sensex, the sectors which plummeted were the realty sector with a decline of 2.51 per cent, the healthcare sector with 1.24 per cent, and the banking sector with 1.19 per cent.The sectors which managed to stay afloat today were the consumer durables sector and power sector with 0.68 per cent and 0.31 per cent respectively.Among stocks, the top gainer was the Titan Company, which surged 1.79 per cent to Rs 2,528, followed by Mahindra & Mahindra (M&M) up by 0.57 per cent to Rs 924.90 per share.Reliance, Tata Consultancy Services (TCS) and IndusInd Bank…

Business Markets

BharatPe announces 305 winners of the ‘BharatPe Lagao, World Cup Jao’ contest

New Delhi [India] : BharatPe, India’s leading Fintech Company for merchants, announced that it has flown 305 top performing merchants to Dubai, as a part of its ‘BharatPe Lagao, World Cup Jao’ contest.The winners of the contest won a 3 days, 2 nights all-expenses paid trip to Dubai as well as got a chance to watch the ICC Men’s T20 World Cup 2021 matches live. The winners include top transacting merchant partners from 38 cities across India, during the time the contest was live. As a part of the trip, the BharatPe merchants not only watched live cricket action at the Dubai International Stadium, but also visited popular tourist locations including Jumeirah Beach, Burj-Al Arab, Dubai Museum, Atlantis The Palm & Dubai Creek. They also got an opportunity to visit the top shopping destinations in the city, including the Dubai Mall. The winners included…

Business Markets

Investors being bullish about unicorns like Nykaa, Paytm

New Delhi [India]: Investors are bullish about unicorns like Nykaa and Paytm, said stock market experts after FSN E-Commerce Ventures, the operator of Nykaa and Nykaa Fashion chain made a bumper debut as the stock listed with a massive 79 per cent premium on Tuesday.Nykaa stock on listing day closed at Rs 2208 per share on the Bombay Stock exchange and National Stock Exchange (NSE) as compared to its Initial public offering (IPO) issue price of Rs 1,125 apiece. Pranav Haldia, managing director, Prime Database said, “If you look at IPO market historically, you will find that IPO market follows the secondary market. Whenever the secondary market has done well, a spurt in issuances in the primary market is always seen. From March 2020 the secondary market crashed and now after the recovery of the economy from COVID-19 you have seen a steady bull…

Business Markets

How OfficeBing elevated workspaces to a new level for IT/ITes firms

Mumbai (Maharashtra) [India] : In today’s world, coworking spaces and serviced offices are thriving. But is a desk and WiFi enough for every business? India’s main cities are gradually developing as IT centres.In 2020, the IT/ITeS industry contributed 8% of India’s GDP. As a significant component of India’s corporate industry, they require a fresh approach to workplaces. And this is what OfficeBing recognised. “OfficeBing goes above and beyond to provide fully serviced offices for enterprises in the IT/ITes/BFSI sectors. Businesses like BPO and IT require technical support and specialised services. Furthermore, building a new office from scratch may be tough for a small corporation. We recognised that their requirements were significantly different. And it is for this reason that OfficeBing finds them fully serviced offices that are tailored particularly to these businesses.” – Rohit Gawli: Co-founder, OfficeBingOfficeBing noticed that, despite being such a large…

PSU

India invites GCC Nations to invest in sustainable energy sectors

Dubai [UAE] : India invited the Gulf Cooperation Council (GCC) member countries yesterday to invest in the sustainable energy sectors in the country, which is one of the major focus areas of the government.Addressing the representatives of the GCC countries at India pavilion EXPO2020 Dubai, Vipul, Joint Secretary, Gulf, MEA said that India’s sustainable energy sector has immense opportunities, and the Government of India has taken a series of measures, including increasing the FDI limits along with opening up of the sectors like defence, telecom and insurance. He added that Prime Minister had announced that India would be having 500 GWs of Renewable energy by 2030 and GCC nations can capitalize on this opportunity. “We need to evolve our areas of cooperation, and the platforms required for this purpose like business technology corridors will be important. The theme of EXPO 2020 itself helps us…

Business Markets TOP NEWS UPDATES Views & Voices

Dubai Expo: A Golden Opportunity for Real State Investors

By Kshvid News Network with inputs from agencies According to a real estate data expert, the Expo is still on track to boost Dubai’s property market. Started on October 1, 2021, the Dubai Expo 2020 will last six months. Culture, cooperation, and creativity are all celebrated during the event. Expo 2020 is one of the region’s most anticipated events, with over 192 countries scheduled to participate. According to analysts, the number of tourists is anticipated to reach 25 million. This is expected to significantly boost tourism and travel activities in Dubai and across the United Arab Emirates. Dubai is a melting pot of many peoples and civilizations, which will be reflected in the creative flair and noteworthy designs of Expo 2020. Therefore, whether you wish to visit Dubai’s most famous tourist and cultural attractions or sample the country’s diverse array of local and international…

Business Economy

Real estate sector lights up with festive cheer as demand spikes

Mumbai (Maharashtra) [India]: The Indian real estate sector has seen a spike in demand during the festive period, a recent report by Knight Frank, India informed.According to the report, demand stimulation measures such as low rate of interest and festive schemes enabled the sector in posting strong sales during the Diwali period. In October 2021, Mumbai recorded 10-year best property sale registrations.“The daily registrations rate increased from 219 in August to 260 in September. In October it recorded 277 registrations when the auspicious Navratri festival was being celebrated. Now, amid Diwali festivities and holidays, 206 daily sales registrations have been recorded and at the ongoing registrations rate, November is likely to mark cumulative 1 lakh units for the year 2021,” said Knight Frank, India in a statement.“In this post-pandemic phase, homeownership has gained top priority. Many prospective homebuyers are now looking for comfortable, spacious…

Business Markets

Equity benchmark indices close in red, Sensex down by 112 points

Mumbai (Maharashtra) [India] : Indian equity market closed in red on Tuesday as the metal and consumer durables sector shares plummeted.At the closing bell, the BSE S&P Sensex was down by 112.16 points or 0.19 per cent, while the Nifty 50 dropped by 24.20 points or 0.13 per cent. In BSE Sensex, the sectors which plummeted were the metal sector with a decline of 0.81 per cent, the consumer durables sector with 0.52 per cent, and the finance sector with 0.48 per cent.Among the gainers for the day were the industrials sector with 1.32 per cent and the auto sector with 1.28 per cent.Among stocks, the top gainer was Mahindra & Mahindra (M&M), which surged 3.92 per cent to Rs 892.90 per share, followed by Larsen & Toubro up by 1.18 per cent to Rs 1,946.85 per share. State Bank of India, ICICI Bank…

Business Markets

Skillskonnect launched, India’s first digital retail network of training institutes

New Delhi [India] : Skillskonnect, a Job Tech Company that is building India’s first of its kind digital retail network was launched today.Skillskonnect has created a unique technology platform for training institutes, colleges and job consultancies that have access to a captive & a well-defined network of job seekers, with a singular mission of simplifying access to relevant jobs and facilitate job application and interview process, thus helping them to get blue collar, fresher and on demand jobs. They will accomplish this by using the innovative technology product ‘Gazabjobs’ that they have developed, which will democratize hiring across the length and breadth of the country. Gazabjobs is an amalgamation of people, process and technology, three major pillars for progress and subsistence of any business.Speaking on the occasion, Dhiraj Ahuja, CEO Skillskonnect said, “We have a vision of becoming India’s first company that will digitally…

Business Markets

Equity indices volatile, Sensex down by 38.10 points

Mumbai (Maharashtra) [India] : Equity indices had a volatile opening on Tuesday with Sensex down by 38.10 points and Nifty up by 1.70 points.The 30-scrip BSE Sensex was up by 38.10 points or 0.06 per cent at 60507.51 at 9.28 am. Similarly, 50-scrip NSE Nifty was trading at 18070.20 at 9.28 am, up by 1.70 points or 0.01 per cent.On the Sensex, the sectors which are trading high are healthcare and auto capital goods, while the finance sector and banking Sectors are trading low.

Business Markets

Equity benchmark indices close in green, Sensex gains 478 points

Mumbai (Maharashtra) [India]: Indian equity market closed in the green on Monday as the oil and gas and consumer durables sector shares gained.At the closing bell, the BSE S&P Sensex was up by 477.99 points or 0.80 per cent, while the Nifty 50 gained by 151.70 points or 0.85 per cent. In BSE Sensex the sectors, which gained were the oil and gas sector and the consumer durables sector, while the sector that plummeted was healthcare.Among stocks, the top contributor was the Titan company, which surged 4.29 per cent to Rs 2,536.90 per share, followed by Ultra Tech Cement at a surge of 4.20 per cent to Rs 8,208 per share. Bajaj Finserv, Tech Mahindra and Kotak Mahindra too traded with a positive bias.However, IndusInd Bank cracked by 10.71 per cent, followed by Mahindra & Mahindra (M&M) down by 1.57 per cent and State…

Business Economy TOP NEWS UPDATES Views & Voices

The Great Resignation

By Kshvid News Desk with inputs from agencies The term “Great Resignation” refers to the widespread trend of a large number of workers quitting their jobs during the COVID-19 pandemic. The Big Quit is another name for it. The Great Resignation is typically discussed in terms of the US labour force, but the phenomenon is global.  In July 2021, 4 million Americans resigned from their jobs, according to the US Bureau of Labor Statistics. Resignations peaked in April and have remained unusually high for several months, with 10.9 million available jobs at the end of July, a new high. In the face of such a tidal flood of resignations, how can employers keep their employees? “We tend to ponder about death and contemplate whether we are content with our lives or whether we would like to make changes when we come into contact with…

Business

Reliance Industries subsidiary signs agreement to sell assets in Eagleford shale play of Texas, USA

Mumbai (Maharashtra) [India]: Reliance Industries Limited (RIL) owned step-down subsidiary Reliance Eagleford Upstream Holding, LP (REUHLP) on Monday announced the signing of agreements with Ensign Operating III, LLC for the sale of its upstream assets in the Eagleford shale play of Texas in the United States of America (USA).As per the RIL press release, with this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America. “A Purchase and Sale Agreement (PSA) has been signed between REUHLP and Ensignon November 5, 2021 for this sale. The sale is at a consideration higher than current carrying value of the assets,” the release read.The Citigroup Global Markets, Inc. acted as the financial advisor to Reliance and Gibson, Dunn & Crutcher LLP served as its legal counsel.

Business Economy TOP NEWS UPDATES

Telangana to showcase startups and women entrepreneurs at EXPO2020 India Pavilion

Dubai [UAE]: Telangana will showcase the success and capabilities of its startups and women entrepreneurs during November 09-12 at India Pavilion EXPO2020 Dubai. The state has lined up events and meetings for sharing the business opportunities through new innovative ideas, products, and services that the business and startup ecosystem of the state can offer to the global investors.A 17-member strong business delegation of The Federation of Telangana Chambers of Commerce and Industry (FTCCI), chamber member of the Federation of Indian Chambers of Commerce and industry (FICCI), led by the chamber’s president and MD, Creamline Dairy Products, K Bhasker Reddy, will be exploring potential business tie-ups through these meetings and events. “Government of India has set up an ambitious target of US $400 billion exports for 2021-22 and FTCCI aims at facilitating and supporting the ecosystem. The governments all across the world has captured the…

Business Economy TOP NEWS UPDATES

Mahindra Group Chairman Anand Mahindra receives Padma Bhushan Award 2020

New Delhi [India]: Mahindra Group Chairman Anand Mahindra was on Monday honoured with the Padma Bhushan award 2020 in Trade and Industry domain. The businessman was conferred with the award by President Ram Nath Kovind. The ceremony for presenting Padma awards was held at Rashtrapati Bhavan in New Delhi.Prime Minister Narendra Modi, Union Home Minister Amit Shah, Union External Affairs Minister S Jaishankar were among the attendees. “Anand Mahindra is the chairman of Mahindra Group diversified Indian conglomerate operating in over 100 countries,” read an official statement. Padma Bhushan is the country’s third-highest civilian award, preceded by the Bharat Ratna and the Padma Vibhushan and followed by the Padma Shri. The Padma Awards are one of the highest civilian honours of India announced annually on the eve of Republic Day. The Awards are given in three categories: Padma Vibhushan (for exceptional and distinguished service),…

Business TOP NEWS UPDATES

Businessmen Ansal brothers sentenced to 7 yrs in jail in Uphaar fire tragedy case

New Delhi [India] : Delhi’s Patiala House Court on Monday sentenced convict businessmen Sushil Ansal and Gopal Ansal and others to seven years jail term in the case related to tampering with the crucial evidence in the 1997 Uphaar fire tragedy case.The Court also ordered to take them into custody. The Chief Metropolitan Magistrate Pankaj Sharma also imposed a fine of Rs 2.25 crores against Sushil Ansal and Gopal Ansal each in the matter. The court while passing the order said, “After thinking overnights and nights, the court has come to the conclusion that they deserve punishment.”The Association of Victims of Uphaar Tragedy (AVUT) recently pleaded before a Delhi court to sentence life imprisonment to businessman Sushil, Gopal Ansal, and others in evidence tampering cases relating to the 1997 cinema fire tragedy.Representing AVUT, Senior advocate Vikas Pahwa had submitted before Chief Metropolitan Magistrate Pankaj…

Business Markets

HarperCollins presents ‘Kamala Harris: Phenomenal Woman’ by Chidanand Rajghatta

New Delhi [India] : HarperCollins Publishers India is delighted to announce the publication of ‘Kamala Harris: Phenomenal Woman’ by Chidanand Rajghatta.A story of love and resilience within a narrative that has increasingly become one of division and hate. This is a story of immigration and immigrants and the Indian diaspora’s growing clout in the USA. This is the story of a woman of mixed race, who still rises. This is the story of Kamala. On a rare occasion, a woman becomes the president on her own steam, she is shown struggling to balance the job and the family – a requirement men are rarely expected to meet. In the 1964 comedy Kisses for My President, Leslie McCloud eventually discovers that she is pregnant and resigns to devote herself full-time to her family.In the 1985 ABC sitcom Hail to the Chief, President Julia Mansfield has…

Business Markets

Xebia Academy ties up with Lovely Professional University offering professional certification in DevOps

New Delhi [India] : Xebia Academy, one of the biggest names in the Ed-Tech market, has recently announced its association with Lovely Professional University (LPU). The IT giant–known to train industry in various modern technologies, has been expanding its higher education portfolio, LPU being the latest addition to its family.Xebia and LPU’s association will help bring in DevOps course to the latter’s classrooms, ensuring that students are no longer deemed industry freshers and they graduate with enough experience to meet respective job needs. Xebia Academy is one of the leading names to expand on software development, DevOps & Automation, and Cloud, bringing these technologies as courses to classrooms. Together with LPU, Xebia Academy will be able to build strong software engineers and developed skilled professionals who will further understand modern technology and automation in depth.Addressing on the Academic Alliance, Brijesh Kohli – Director Xebia…

Business Markets

Aseem Chawla’s book ‘Finding A Straight Line Between Twists and Turns’ unveiled

New Delhi [India] : India’s leading tax lawyer and well known international tax and policy expert, Aseem Chawla today announced the release of his new book titled ‘Finding A Straight Line Between Twists and Turns – An Imperfect, Yet Honest Reflections on the Indian Tax Landscape’.The book, which has been published by Matrix Publishers, provides in-depth analysis of key recent milestones/landmark events, which have influenced Indian tax landscape, in particular, over the last decade or so. The cross border influences on the tax ecosystem and what it means for policymakers and the judicial response have been deliberated in the book. The book was unveiled by Chief Guest, Justice S Ravindra Bhat, Judge, Supreme Court of India, along with the Guest of Honour, Justice Vipin Sanghi, Hon’ble Judge, Delhi High Court at Silver Oak, India Habitat Centre, New Delhi.Through a compendium of articles, the book…

Business Markets

Fitness2Flash is among 13 finalists in India to receive funding from Facebook

Mumbai (Maharashtra) [India] : Fitness2Flash, an all-health, women’s and fitness community, is one of 13 finalists in India to be funded by Facebook’s Community Accelerator Programme (FCAP) 2021.Aside from training and early access to new products, Fitness2Flash will receive up to $50,000 in funding from Facebook to help fund the community’s activities. In the last six months, approximately 13,000 communities participated, and Fitness2Flash is one of 13 finalists from India for Facebook’s CAP-2021 programme. FCAP-2021 was announced in May 2021 to assist and empower leaders to harness the power of their communities and turn ideas into action. Facebook’s Community Accelerator Program was announced in May 2021 and was aimed to help and empower leaders to harness the power of their communities and turn ideas into actionFitness2Flash has grown to over 350k women worldwide. F2F has evolved significantly over the years, but one goal has…

Business

Antariksh Group bags Indian Excellence Award in developing Logistics Parks

New Delhi (India) : Another award was presented to the Antariksh Group, a leading brand in Logistics Parks at the Indian Excellence Awards 2021 function organized by Abhigyane Foundation in New Delhi.CA L. V. Rathi and Bhagwanji N Patel, the founders of the Antariksh Group, were presented with the award for their contribution in the industry of Logistics Parks. Antariksh Group has touched new heights in almost a decade, the group has grown rapidly in the MMR region of Maharashtra, which has provided more employment to the people of small villages as well as many multinational companies in their Logistic and supply services.In Mumbai, the financial capital of the country, as there is no place to live for the people, then there are usually many problems for the Logistic storage places there. Antariksh Group has developed suitable sites in the Thane district adjoining Mumbai…

Business

India Pavilion at Expo 2020 Dubai crosses two lakh footfalls

New Delhi [India]: The India Pavilion, inaugurated by Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, on October 1, has successfully completed its first month at the Expo 2020, Dubai.According to an official release of the Ministry of Commerce and Industry, the India Pavilion has hosted over 2,00,000 visitors as of November 3 with various sector and state-specific sessions to discuss India’s growth roadmap. “It also secured investment opportunities for the country and celebrated several cultural events to attract visitors,” the release said.Commenting on the success of India Pavilion, Dr Aman Puri, Consul General of India in Dubai and Deputy Commissioner General for India at Expo 2020 Dubai said, “The October month was a huge success for the India Pavilion. We saw a strong visitor turnout and expect this momentum to continue in the coming months”.“While the…

Business

Japanese soy sauce maker ‘Kikkoman’ acquires majority of global market

Tokyo [Japan] : Kikkoman, a leading soy sauce company based in Japan has acquired the majority of the global market. It functions quite similarly to Japanese traditional food culture, fermentation, and ensures the natural brewing of Kikkoman Soy Sauce. The traditional Japanese brewing process known as “Honjozo” is used in the making of this Soy Sauce.“Kikkoman soy sauce is “Honjozo” soy sauce, which means it is a naturally brewed sauce. We use only four natural ingredients namely soybeans, wheat, salt and water and microorganisms to ferment it,” Senior Managing Executive Officer of Kikkoman Corporation, Osamu Mogi said.“As only four ingredients are used, it’s quite simple. Fermentation is a very interesting process and through this, we achieve all the five basic tastes of soy sauce which include saltiness, sweetness, sourness, bitterness and umami, Osamu said adding that in terms of aroma, Kikkoman soy sauce has…

Business

It’s time to target 5 times increase in export of technical textiles in 3 years: Piyush Goyal

New Delhi [India] : Union Commerce Minister Piyush Goyal on Friday said that the time has come to target a five times increase in the export of technical textiles in three years.The minister was speaking to representatives of the Indian Technical Textile Association ( ITTA) in Delhi. “Centre would support Production Linked Incentives (PLIs) for the textile sector in states supporting the development and offering affordable infrastructure for textile manufacturing like cheap land and power,” said the minister.Goyal further suggested aligning with the best standards in textile manufacturing so that there is no difference in the quality of textile meant for international and domestic consumers. The Minister suggested public-private participation in the use of government funds in Research and Development in technical textiles.“It may be noted that the growth of technical textiles in India has gained momentum in the past five years, currently growing…

Business Economy

HFC Bajaj Housing Finance Limited extends validity for the ‘Rs.1,999* plus GST processing fee’ festive offer till 15 November 2021

Pune (Maharashtra) [India]: Bajaj Housing Finance Limited, a 100 percent subsidiary of Bajaj Finance Limited, extends its festive offer, under which salaried and professional applicants who apply through the lender’s website pay only Rs.1,999* + GST as processing fee on their home loan. Only loans disbursed till 31 December 2021 are eligibleThe last date to apply for a home loan to be eligible for this offer was 30 October 2021, and it is now revised to 15 November 2021 Interest Rate and New Online Application Recently, Bajaj Housing Finance also reduced its home loan interest rates to 6.70 percent* p.a. for salaried and professional applicants. Eligible applicants with the right income, financial, credit, and employment profiles can avail of this interest rate by applying either online or offline. For those interested to apply, the HFC offers a number of application modes, both online and…

Business Economy TOP NEWS UPDATES

Muhurat Trading: Equity benchmark indices close in green

Mumbai (Maharashtra) [India]: The special session of Muhurat Trading ended with the key indices including the auto sector and consumer discretionary goods and services gaining substantially. The special trading window marks the beginning of Samvat 2078. It is the Hindu calendar that starts on Diwali.At the closing bell, the BSE S&P Sensex was up by 295.70 points or 0.49 per cent, while the Nifty 50 gained by 87.60 points or 0.49 per cent. In BSE Sensex all the sectors gained. The sectors that saw maximum gain were the auto sector that was up by 1.54 per cent, the telecom sector that was up by 1.19 per cent, the capital goods that was up by 1.16 and industrials was up by 1.13 per cent. Among stocks, the top contributor was Mahindra and Mahindra, which surged 2.87 per cent to Rs 872.95 per share, followed by…

Business Markets

Mahurat trading starts with indices in green

Mumbai (Maharashtra) [India]: Ringing in the auspicious occasion of Diwali on Thursday, the special Mahurat trading session flagged off at the Bombay Stock Exchange (BSE), with the indices opening in the green.The special trading window marks the beginning of Samvat 2078. It is the Hindu calendar that begins on Diwali. At 6.17 pm, the BSE Sensex opened at 60122.71 points up at 350.79 points and the NSE Nifty opened at 17936.30 points up by 107.10 points.During the trading session Sensex touched a high of 60,207.97 points (at 6.17 pm) and a low of 60,076.77 points.In the Sensex, sectors which are trading high are auto, consumer durables and Consumer Discretionary Goods and Services sectors.Actress Bhagyashree rang the opening bell along with Managing Director and Chief Executive Officer of the BSE Ashish Chauhan.“Bollywood Actress Bhagyashree with Ashish Chauhan, MD & CEO BSE Indiaand others Ringing the…

Business Economy

MG Astor debuts on the Mumbai roads and enhanced the festive celebrations

New Delhi [India]: After receiving a good response for Astor, India’s first SUV with personal AI assistant and first-in-segment Autonomous (Level 2) technology. The newly launched Astor has received positive feedback from the customers and was sold out for 2021 within 20 minutes of opening the bookings.MG Mumbai enhanced the festive celebration by delivering the first batch to customers on the auspicious occasion. This is particularly special considering acute shortage of chips. The company is trying its best to improve the availability to meet its initial target of 4000 – 5000 deliveries by December end 2021. The delivery ceremony was curated in Mumbai’s leading 5-star hotel over lunch and customers experienced a grand celebration. Dealer Principal Gautam Modi, Nidhi Modi along with MG India Offical’s expressed gratitude to the customer for showcasing the continuous trust in the brand. This story is provided by Target…

Business

SBI registers its highest quarterly net-profit of Rs 7,627 crores, growth of 66.73 pc on YoY basis

New Delhi [India]: State Bank of India (SBI) has recorded its highest quarterly net profit of Rs 7,627 crores in Quarter 2 of the Financial Year 2021-22, which represents a year-on-year (YoY) increase of 66.73 per cent, as per the bank.The operating profit registered a 9.84 per cent YoY increase as it increased from Rs 16,460crores in Q2, FY 2020-21 to Rs 18,079 crores in Q2, FY 2021-22, read a press statement from SBI. “Fully provided Rs 7,418 crores due to change in family pension rules, even as regulator granted dispensation to amortise in 5 years,” added the statement.The Net Interest Income for Q2, FY 2021-22 increased by 10.65 per cent on YoY basis, with Rs 31,184 crores Net Interest Income registered in Q2. While the Domestic NIM for Q2, FY 2021-22 is at 3.50 per cent, up by 16 bps YoY from 3.34…

Business Economy

Get flat Rs 1,000 cashback on Samsung A12 at Bajaj Finserv Market

New Delhi [India]: Shop for Samsung mobile phones at EMI Store on the lowest EMIs and get 5% cashback on Samsung mobiles. Buy the Samsung Galaxy A12 on the Bajaj Finserv EMI Store and get Rs. 1,000/- cashback on your purchase. Other benefits include free home delivery, zero down payment on select products and flexible repayment tenor. One of the best-selling Samsung smartphones on the EMI Store include the Samsung Galaxy A12 (128GB Storage, 4GB RAM) on No Cost EMI starting Rs 2,500. Shop for it today and get a flat Rs 1,000/- cashback on your purchase.Benefits of purchasing a Samsung A12 at Bajaj Finserv Market: This festive season, shoppers can bring home the of Bajaj Finserv on the lowest EMIs. Customers can also avail of other exciting offers on the EMI Store, such as instant discounts and cashback vouchers. How to shop for…

Business Technology TOP NEWS UPDATES

Diwali Dhamaka Deals are live!

Diwali is the festival of light, symbolizing the victory of good over evil. It is India’s one of the biggest festivals that brings India’s most significant discounts/deals both online and offline. As Diwali is just around the corner, all the online sales are live and in full swing. Grab them before the deal ends. Here you will find such deals mentioned which are offered by Amazon.in and Flipkart.com: Flipkart’s Big Diwali Sale One of India’s biggest online shopping app – Flipkart, has been running Diwali sales since 28th October. The sales brought significant discounts on electronic products like home appliances, mobile phones and computers. However, the deals will end on 3rd November. Here are listed a few of the top deals offered by Flipkart. iPhone 12 In India iPhone 12 is priced at starting from Rs 65,900. In contrast, Flipkart is offering the iPhone…

Business

JSPL Q2 results: Consolidated net profit grows three-fold to Rs 2,584 cr

New Delhi [India] : Jindal Steel and Power Limited (JSPL) saw its consolidated net profit grow almost three-fold on annual basis to Rs 2,584.22 crore during the second quarter ended September 30, 2021.According to a statement issued by the Indian steelmaker, JSPL reported a standalone profit after tax (PAT) of Rs 2,711 crore. The consolidated net debt was reduced to Rs 11,164 crore in the second quarter of the financial year FY22 from Rs 15,227 crore in June 2021.As per the company statement, notwithstanding sluggish domestic demand due to ongoing monsoons in the country, JSPL reported robust growth in sales and production in Q2FY22.JSPL further stated that its sales volume surged 32 per cent quarter on quarter (QOQ) and 10 per cent year-over-year (YOY) to hit a record of 2.13 million tonnes during the quarter. Q2FY22 also marked the first time JSPL steel sales…

Business Markets

Equity benchmark indices close in red, Sensex down by 109 points

Mumbai (Maharashtra) [India]: The Indian equity market closed in the red on Tuesday after witnessing a volatile trading session.At the closing bell, the BSE S&P Sensex was down by 109.40 points or 0.18 per cent, while the Nifty 50 dropped by 40.70 points or 0.23 per cent. In BSE Sensex the sectors, which plummeted were the metal sector with a decline of 1.93 per cent, the energy sector with 1.20 per cent, and the basic materials sector with 1.13 per cent. Among the gainers for the day were the realty sector with 3.33 per cent and consumer durables with 1.14 per cent.Among stocks, the top gainer was Maruti Suzuki, which surged 2.36 per cent to Rs 7,792.05 per share, followed by Titan up by 1.95 per cent to Rs 2,453.20 per share. NTPC, State Bank of India and Larsen & Toubro too traded with…

Business

‘Make in India’ startup to manufacture 1000 drones for agriculture sector

Chennai (Tamil Nadu) [India]: Garuda Aerospace, a startup under the ‘Make in India’ campaign is manufacturing 1000 drones for the agriculture sector that would be launched by Prime Minister Narendra Modi.Drones will help farmers optimize both farm productivity and profitability. The startup is aiming to help farmers to move past the manual spraying of pesticides, water, fertilizer on crops in order to save time, water, resources and to boost the agriculture industry. “Our founder met with Prime Minister Narendra Modi, presented him with our plan to manufacture 1000 drones next month. He (PM) agreed to launch the event…With the help of drones, we’ll be able to save time, water, resources and get past manual spraying,” said Ram Kumar, Vice President, Garuda Aerospace “Spraying through drones has many advantages first is spraying manually takes three to four hours to cover an acre but by using…

Business

Founder of Northeast India’s AVENUES felicitated with AsiaOne’s Asian Youth Empowerment Leader Award

Dubai (UAE) : In recognition of over two decades of Serial Entrepreneurship and Youth Empowerment Leadership, Founder and CEO of Meghalaya-based AVENUES, Mark Laitflang Stone, was felicitated with the inaugural edition of AsiaOne’s Asian Youth Empowerment Leader Award 2O2O-21 at the 15th Edition Asia-Africa Business and Social Forum: Awards & Business Summit, which was held on 26th October 2021 at JW Marriott Marquis Hotel, Dubai.In an effort to promote mutual welfare and facilitate fresher avenues of economic cooperation, networking and investment opportunities in Asia, the Middle East and Africa on a global platform, the one-day mega summit was joined by esteemed dignitaries, which included ambassadors from 8 countries, international business and social leaders such as Dr. Aman Puri – Consul General of the Republic of India in Dubai, Malraj de Silva – Ambassador of Sri Lanka in Abu Dhabi, Amal Alblooshi – Director, National…

Business

India eyes USD 700 billion investments to boost urban infrastructure

Dubai [UAE], : Kunal Kumar, Joint Secretary and Mission Director (Smart Cities Mission), Ministry of Housing and Urban Affairs, Government of India, today said that India needs around USD 700 billion of investment from 2021 to 2031 to boost its urban infrastructure services like Urban Mobility, Affordable Housing, Water Security, Clean India Mission and Smart Cities Mission.Kumar along with other Ministry of Housing and Urban Affairs officials – Dinesh Kapila, Economic Advisor (Housing) and Jaideep, OSD (Urban Transport) was briefing the media on the sidelines of the inauguration of the ‘Urban and Rural Development Week’ at the India Pavilion in Expo 2020 Dubai. The Ministry is showcasing its efforts being made in comprehensive urban development in India and exhibiting the multi-sectoral opportunities for the World during the ‘Urban and Rural Development Week’ in Dubai. The broad objective is to demonstrate India’s innovative case studies…

Business Markets

Equity indices open in green, Sensex up by 217 points

Mumbai (Maharashtra) [India]: Equity benchmark indices opened in the green on Monday with Sensex up by 217.43 points and Nifty up by 60.90 points.At 9:30 am, the 30-scrip BSE Sensex was up by 217.43 points or 0.37 per cent at 59524.36. Similarly, 50-scrip NSE Nifty was trading at 17732.60, at 9:30 am, up by 60.90 points or 0.34 per cent.

Business

Markets witness heavy footfall ahead of Diwali, shopkeepers hope for better business this year

New Delhi [India]: Markets across India witnessed heavy footfall on Sunday ahead of Diwali. While the busy markets brought hope for better business this year, the flouting of COVID-19 norms remained a matter of concern.Images of crowded markets surfaced from the national capital’s Karol Bagh, Sarojini Nagar, Sadar Bazar, and Lajpat Nagar among many. Chennai’s T Nagar market and Indore’s Rajwada market also witnessed a similar crowd. Mumbai’s Crawford Market, Dadar, and Lalbaug were also bustling with shoppers.Talking to ANI, a shopkeeper in Delhi’s Lajpat Nagar market said, “After 2 years, the market is witnessing such a footfall before Diwali. We’re hoping for good sales this year.” The jewellery stores in Gujarat, particularly in Surat saw a surge in the number of buyers as along with the festival, people are buying gold for the upcoming wedding season too.Deepak, a jewellery shop owner in Surat…

Business

Adani Group to invest in Cleartrip, deepens strategic partnership with Flipkart

Ahmedabad (Gujarat) [India]: The Adani Group on Friday announced that it is investing in Cleartrip Private Limited, an online travel aggregator (OTA) and part of the Flipkart Group, India’s homegrown consumer internet ecosystem.As part of this investment, the Adani Group will acquire a significant minority stake in Cleartrip, the conglomerate said in a statement. “Through this investment, the Adani Group and the Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence. Since the acquisition by the Flipkart Group, Cleartrip has seen 10x growth in flight bookings. Also, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-covid highs. This partnership will further enable Cleartrip to transcend digital boundaries and bring end-to-end travel services online,” the Adani Group said.The investment will further…

Business

FATF ‘grey list’ to make things worse for Turkey, Pakistan

Islamabad [Pakistan]: Pakistan was once again retained on the Financial Action Task Force’s (FATF) increased monitoring list earlier this month as it has failed to curb terror financing of UN proscribed terrorists on its soil.Speaking at a press conference, FATF President Dr Marcus Pleyer had said the decision to include Pakistan in the grey list was taken by consensus and not by just one country. While announcing the decision, he had dismissed reports of any possible political connotation regarding the global financial watchdog’s decision. “FATF is a technical body and we take our decision by consensus, so not only one country that makes the decision, the FATF contains 39 jurisdictions and also the decision on Pakistan was taken by consensus,” Pleyer had said at the Paris based watchdog.The Imran Khan government might well have anticipated the snub from France, the country it has been…

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