In this issue

March 15, 2023

SILICON VALLEY BANK COLLAPSE: Start-ups seek govt help to bring money to India

Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting on Tuesday with the government over the fallout of Silicon Valley Bank's collapse.

2 mins

US CONSUMER PRICE INDEX DECLINES TO 6% IN FEBRUARY

US consumer prices increased solidly in February as Americans faced persistently higher US Consumer costs for rents and food, posing a dilemma for the Federal Reserve, whose fight against inflation has been complicated by the collapse of two regional banks.

1 min

WPI Inflation Eases To 25-Month Low In Feb

Inflation for manufactured items falls to 1.94.% in Feb from 2.99% in Jan

2 mins

SILICON VALLEY BANK COLLAPSE: Start-ups seek govt help to bring money to India

Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting on Tuesday with the government over the fallout of Silicon Valley Bank's collapse.

1 min

Pre-installed apps may face govt heat

Phone makers could be forced to allow removal

2 mins

FPIs seek six more months to comply with PMLA tweaks

To make a representation to FinMin for relief

3 mins

FinMin: Work on for $5-trn economy 'at an early date'

The government on Tuesday informed the Rajya Sabha that it $5-trillion economy earlier than the International Monetary Fund's (IMF) forecast year of 2026-27.

1 min

CII PARTNERSHIP SUMMIT - First India chip fab to be announced in few weeks: Vaishnaw

India's first semiconductor fabrication unit will be announced in the next few weeks, Union minister Ashwini Vaishnaw said on Tuesday, as he expressed confidence that the country will soon join the league of a select few countries which have a vibrant semiconductor industry.

2 mins

Meta To Cut 10,000 Jobs In Second Round Of Layoffs

Tech giant will also scrap hiring plans for 5,000 openings

2 mins

No Breather For Mkts; Bank Crisis Weighs On Sentiment

Equity indices fell for the fourth consecutive session as contagion fears after the failure of three US lenders continued to rattle investors.

1 min

Jio eyes postpaid pie with family plans, free trial

Reliance Jio on Thursday announced new postpaid family plans with one month free trial offer.

1 min

Toys 'R' Us shuts store within 24 hrs of opening

American toy and clothing retailer Toys 'R' Us is said to have shut within 24 hours a store it opened in Hyderabad to mark its second entry into India over some legal complexities with the mall owner, sources said.

1 min

SoftBank brass visits add weight to India market

Country accounts for10% of Japanese investor's global AUM, the 3rd largest

3 mins

'Complete fiction': Zoho Corp's Vembu denies wife's allegations

Indian software-as-a-service major Zoho Corporation's Founder and Chief Executive Officer Sridhar Vembu took to Twitter to rubbish a piece published in Forbes that claimed he had abandoned his estranged wife Pramila Srinivasan and their 24-year-old son with special needs (he battles autism) and that he was gypping them out of their entitlement.

1 min

Crypto firms see no long-term impact of collapse of 3 US banks

The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not significantly impact the Indian crypto market in the long run, officials from several exchanges told Business Standard.

2 mins

India-EU trade council's 1st ministerial meet by June

India and the European Union (EU) will hold the first ministerial meeting of the Trade and Technology Council (TTC) in the next two months to strengthen cooperation in strategic technologies and building resilient supply chains.

2 mins

Hotter summer likely in 2023; above normal temp in most parts: IMD

A hotter than normal summer is expected in 2023 with temperatures likely to reach 2-3 degree celsius above normal in some parts of Indo-Gangetic plains and eastern India during the last week of March, the India Meteorological Department (IMD) told a high level meeting on Tuesday.

1 min

India's JAM trinity should be applied to Africa, says Mittal

India's initiatives spanning the Jan Dhan-Aadhaar-Mobile (JAM) trinity should be applied to Africa so that a high level of digital connectivity can quickly spread across the continent, Bharti Airtel Chairman Sunil Bharti Mittal said on Tuesday. Mittal is a key member of the B20, the official G20 dialogue forum with the global business community.

2 mins

G20 nations need to push for growth amid debt crisis: Kant

With a third of the global economy expected to reel from recession in 2023, it is imperative upon the G20 nations to push for inclusive, resilient, and sustainable growth in their deliberations, India's G20 Sherpa Amitabh Kant said on Tuesday.

1 min

Rise in avg value of card, netbanking frauds

Average fraud value up at ₹34,802 in 2021-22, but number of such instances down 8% to 65,045

2 mins

SVB FALLOUT: Apollo, Blackstone, KKR eye US biz for $74-bn loan book

HSBC TO INJECT OVER $2 BN INTO SVB UK UNIT. MOODY'S PUTS FIRST REPUBLIC, 5 US BANKS ON DOWNGRADE WATCH

1 min

Google unveils 'magic wand' for emails, docs

Alphabet's Google on Tuesday unveiled a flurry of artificial intelligence (AI) tools for its email, collaboration and cloud software, taking aim at Microsoft days before its rival is expected to make a similar announcement.

1 min

After 'decisive Covid victory, China reopens borders to tourists after 3 yrs

China will reopen its borders to foreign tourists for the first time in the three years since the Covid-19 pandemic erupted by allowing all categories of visas to be issued from Wednesday. The removal of this last cross-border control measure imposed to guard against Covid-19 comes after authorities last month declared \"decisive victory\" over the virus.

2 mins

Amazon eyes '24 launch of Kuiper internet satellites

Amazon.com plans to launch its first internet satellites to space in the first half of 2024 and offer initial commercial tests shortly after, the company said on Tuesday, as it prepares to vie with Elon Musk's SpaceX and others to provide broadband internet globally.

1 min

Read all stories from Business Standard

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