Shanghai officials unveiled policies late on Thursday to cool the local market, including a measure designed to plug a loophole long exploited by buyers using fake divorces to become eligible to purchase more properties or obtain mortgages. As most Chinese cities limit demand by capping the number of properties a family can own, divorce becomes … Continue reading Why couples are faking divorces in China
Reliance Industries Limited (RIL) on Friday reported a 12.6 per cent rise in its consolidated net profit for the third quarter (Q3) ended December 2020 mainly on account of improving the oil-to-chemical business. RIL posted a net profit of Rs 13,101 cr in Q3 against Rs 11,640 cr posted in the same period last year. … Continue reading RIL Q3 net profit rises 12% to Rs 13,101 crore
India’s power demand hit a record at 185.82 GW (gigawatts) on Wednesday, rising 1.6% over the previous record of 182.89 GW on December 30 and marking 9% increase over the highest single-day supply of 170.97 GW in January 2020.
Wall Street greeted new US President Joe Biden by climbing even higher on Wednesday, closing at records amid promises of big economic stimulus and relief that the inauguration was uneventful.
Global consumer products giant Unilever has committed to ensure that everyone who directly provides goods and services to the company earns at least a living wage or income by 2030.
The benchmark BSE Sensex achieved a remarkable milestone on Thursday by breaching the 50,000-mark for the first time ever. The Covid-19 pandemic dragged the Sensex to record low in late March. However, it staged a recovery from the lows. Both the BSE and NSE indices finally wrapped up 2020 on a bullish note, with the … Continue reading Explained in 12 charts: How sensex breached 50k-mark
In a world where predicting even the short-term future is becoming difficult, organisations are rushing to management thinkers to understand how best they can cope with unforeseeable conditions— ‘the unknown unknowns’.
Jack Ma appeared for less than a minute and said nothing about the Chinese govt clampdown that had left his business empire in crisis. But for investors who’d been waiting months to catch a glimpse of Ma, his participation in a live-streamed video conference on Wednesday soared Alibaba’s market value to $58 billion. This was … Continue reading Jack Ma’s video chat prompts a $58 billion sigh of relief
Facebook executives will field questions from a parliamentary panel on Thursday about the changes to WhatsApp’s privacy, a source said, days after the messaging platform was asked by the country’s technology ministry to withdraw them.
Google and a French publishers’ lobby said on Thursday they had agreed a copyright framework under which the US tech giant will pay news publishers for content online, in a first for Europe.
India’s gross domestic product (GDP) is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter “V” in the V-shaped recovery stands for vaccine. The government launched the world’s biggest vaccination drive on January 16 to protect people from Covid-19.
Domestic pharma retail market bounced back with a substantial growth of 8.4% yoy (year-on-year) in December, after a weak performance during the year, led by a higher number of prescriptions, OPD (outpatient department) visits, and increased marketing push by drug companies.
Hero Moto, the country’s top-wheeler maker, crossed a record 100-million units in production, and is lining up an aggressive launch plan of 50 new products and upgrades over the next five years, chairman Pawan Munjal said on Thursday as the company works to strengthen its premium portfolio with new partner Harley-Davidson.
India has simplified the process of getting new types of aircraft as it opens its skies to flying machines not seen here commonly earlier like seaplanes and four-seater planes.
The pandemic-driven lockdown has a surprise winner in household savings that have been falling steadily between 2014 and mid-2019 but have scooped up a hefty $200 billion in extra savings – which is a 20-year high, according to a foreign brokerage report.
Barring another wave of Covid-19 infections, the worst is over for India’s economy and policymakers may soon have more room to support a recovery, the central bank said in its January bulletin released on Thursday. The RBI slashed interest rates early last year to cushion the shock from the coronavirus crisis, but has left rates … Continue reading ‘India has seen the worst, barring more Covid waves’
The UAE-India corridor has emerged as the second busiest country pair this month, with Mexico-US the biggest in terms of seats deployed by airlines flying between two countries, according to UK-based air consultancy firm OAG.
Under fire over its privacy changes, WhatsApp is now reaching out with reassuring messages to businesses that use its application programming interface (API) to chat with users. The company said leveraging its parent firm Facebook’s hosting services will be much cheaper and will increase efficiency while managing users on the platform.
Wipro founder-chairman Azim Premji and the promoter group tendered 22.8 crore shares worth Rs 9,156 crore in the company’s share buyback, paring their stake from 74% to 73%.
Facing the heat from the Indian government which asked it to withdraw a controversial privacy update over data-sharing plans with Facebook, instant messenger WhatsApp reiterated once again that personal messages remain completely encrypted and the proposal is aimed only at making business messaging effective.
Restaurant aggregator Swiggy has stopped its online marketplace for groceries, a service which had picked up steam during the lockdown. While it still offers its ‘Genie’ service for pickand-drop and other marketplaces on its app, the company plans to replace the grocery marketplace with ‘Instamart’, a quick grocery delivery initiative that will be serviced by … Continue reading Swiggy stops online grocery marketplace
The pandemic has caused major change of priorities for urban Indians as far as their savings are concerned. People are saving less for marriages, kids’ education or for small luxuries like cars and vacations. They are setting aside more for retirement, health and untimely death of the breadwinner.
Elon Musk, the richest man on Earth, tweeted on Jan 13 “as promised” in response to a report on a Tesla-focused blog that the automaker was in talks with several Indian states to open shop in India. For all the hype, Tesla’s foray into India is far from a done deal. The company is in … Continue reading Tesla faces bumpier ride breaking into India
When he assumes office on Wednesday, US President-elect Joe Biden will inherit a stock market near all-time highs, along with a gaping budget deficit, a weakening dollar, elevated economic uncertainty and a Federal Reserve that may have less ammunition to fight the next crisis.
Alibaba Group founder Jack Ma met with 100 rural teachers in China via a video meeting on Wednesday, local government media reported, making the businessman’s first appearance in public since October last year. Ma has resurfaced after months out of public view, quashing intense speculation about the plight of the billionaire grappling with escalating scrutiny … Continue reading Jack Ma makes first public appearance since Oct
US President Donald Trump said on Wednesday he had given a full pardon to a former Google engineer sentenced for stealing a trade secret on self-driving cars months before he briefly headed Uber Technologies Inc’s rival unit.
Union finance minister Nirmala Sitharaman has described her upcoming budget as unlike anything seen in the last 100 years. When she presents it on February 1, Sitharaman will not only aim to repair battered government finances and ensure demand recovers in an economy facing its worst contraction since 1952, she must also revive declining revenue … Continue reading Budget must fix a broken labour mkt to boost demand
US President-elect Joe Biden is set to issue several measures on Wednesday aimed at rolling back some of the restrictive immigration policies put in place by his predecessor President Donald Trump.