In this issue

February 09, 2023

TURKEY, SYRIA QUAKE DEATH TOLL CROSSES 11,000

With hope fading to find survivors, stretched rescue teams toiled through the night in Turkiye and Syria, searching for signs of life in the rubble of thousands of buildings toppled by a catastrophic earthquake.

2 mins

When silver is gold for company boards

321 company directors are octogenarians, 22 are over 90, largest chunk in 45-60 band

2 mins

FOREIGN OIL MAJORS FLAG WINDFALL TAX CONCERN

Centre expects $58 billion worth of total investments in the oil and gas sector in 2023

3 mins

France's Total puts hydrogen partnership with Adani on hold

TotalEnergies has not yet signed a contract announced last year to extend its partnership with the Adani Group for the production of green hydrogen, the chief executive of the French oil major said on Wednesday.

1 min

No change in stance, RBI hints at more rate hikes

Policy rate increased by 25 bps to a 4-year high of 6.5%

3 mins

Biden proposes higher taxes for the wealthiest

President Joe Biden on Tuesday touted the nation's economic health in his State of the Union address, just days after a blockbuster jobs report showed. A key part of Biden's new economic policy agenda is a billionaire's tax, which will set a minimum tax for the wealthiest, the White House said.

2 mins

Manipal, Emami break logjam on AMRI Hospitals

Sources say fresh discussions have begun between the two parties

3 mins

Competition Bill may propose levying penalty on firms' global turnover

The government the Competition will likely tweak Amendment Bill 2022 to propose that penalties on companies be calculated as a percentage of their global turnover instead of the current practice of levying it on their turnover within the country, it is learnt.

2 mins

Client costs in focus, IT deals revive workers 'rebadging'

With cost optimisation deals rising among Indian IT players, rebadging of employees is making a return. On Tuesday, when Boeing announced job cuts, media reports also mentioned that TCS would be taking a third of such employees as part of its work with the airline major.

3 mins

TCS inks $723-mn deal with Phoenix Group

Largest deal win for company this fiscal

1 min

2004-14 a lost decade; this one is India's: PM takes dig at Congress

In a stinging attack on the Opposition, Prime Minister Narendra Modi on Wednesday said the trust reposed by crores of people was his protective shield which cannot be breached by abuse and allegations from his detractors.

1 min

DIGITAL BOOST: Retail CBDC clocks over 750,000 transactions

The Reserve Bank of India's (RBI's) retail Central Bank Digital Currency (CBDC) pilot has so far generated about 770,000 transactions, with a user base of 50,000 customers and 5,000 merchants, the central bank said on Wednesday.

1 min

IMPROVING PRICE DISCOVERY: RBI to permit lending, borrowing of gilts

The Reserve Bank of India (RBI) said on Wednesday that it proposed to permit lending and borrowing of government securities, a move that will augment the existing market for special repo transactions.

2 mins

DESPITE 6 STRAIGHT HIKES...No rate pause in sight, bond yields harden

Traders of government bonds were not surprised when the announced a sixth consecutive increase in the repo rate on Wednesday. What did dampen the market's spirits, however, was the lack of a concrete sign from the central bank that it would pause rate hikes going ahead. The RBI's Monetary Policy Committee raised the repo rate by 25 basis points to a four-year high of 6.5 per cent on Wednesday.

2 mins

Companies get bank loans based on fundamentals, not m-cap: Das

Exposure of domestic banks against shares of Adani group insignificant, says Deputy Governor Jain

2 mins

MH17 probe: Putin 'supplied' missile that downed plane

An international team of said on investigators Wednesday it found \"strong indications that Russian President Vladimir Putin approved the supply of heavy anti-aircraft weapons to shot down Malaysia Airlines flight MH17 in 2014 with a Russian missile. However they suspended the inquiry.

1 min

Microsoft Bing adds powers of ChatGPT

ACTIVISION DEAL HURTS GAMERS: UK WATCHDOG

1 min

Intel offloads $11-bn bonds after debt downgrades

Intel sold $11 billion in the blue-chip bond market to help fund capital expenditures after a trio of rating downgrades, luring strong demand on Wall Street.

1 min

Son now owes SoftBank $5 bn on side deals

Masayoshi Son is now on the hook for about $5.1 billion on side deals he set up at SoftBank Group to boost his compensation, as losses mounted at its core Vision Fund venture capital arm.

1 min

Zoom fires 1,300 employees; eBay to sack 500 as sales dip

Become individual contributor or leave, Meta tells managers

1 min

LinkedIn membership in India crosses 100 mn, second highest after US

LinkedIn, the world's largest professional network, today announced that it has crossed 100 million members in India.

2 mins

AEL adds another 20%, 7 Adani stocks up as group boosts investor confidence

M-cap back above 10-trillion mark; Adani Transmission, Adani Wilmar, Adani Power and NDTV hit upper limit of5%

2 mins

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