Financial Express Mumbai - December 02, 2022
Financial Express Mumbai - December 02, 2022
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In this issue
December 02, 2022
GST mop-up at ₹1.46 trn, down 4% from October
GROSS GOODS AND services tax GST) collections came in at 1.46 trillion in November October transactions), up 11% on year but 4% lower sequentially, reflecting a slowing of the consumption momentum and easing of inflation.
1 min
*9-trn capex outlay likely for next fiscal
Pace of hike to lower than this year due to spending capacity
1 min
Revamped crop insurance scheme from kharif 2023
Al use for yield estimate, competitive bidding by insurers on the cards
2 mins
Household debt soars in FY22
THE LIABILITIES OF households rose by 6 trillion in 2021-22 to 83.65 trillion, data from the Reserve Bank of India shows. This was even as household debt as a share of GDP came down from levels of 39.3% in 202021 to levels of 35.3% in 2021-22.
1 min
Manufacturing PMI hits 3-month high in November
Faster expansion in production coincides with inflation slowdown
1 min
Brass parts from Jamnagar shine in Europe, US
DESPITE VOLATILITY IN international brass scrap prices and subdued domestic demand, India’s largest brass parts cluster in and around coastal Jamnagar town has registered increasing exports to European and American markets.
2 mins
Aadhaar's e-KYC for 300 more fintechs & NBFCS: UIDAI CEO
AFTER USING THE Aadhaar platform for the delivery of government schemes to people, the Unique Identification Authority of India UIDAI) has extended its e-authentication platform to around 300 fintechs and NBFCs in the last six months for on-boarding of customers, which will drastically reduce their customer acquisition cost, its CEO Saurabh Garg told FE. This has brought down customer acquisition cost from 500700/person to 3.
2 mins
E-marketplace funding saw 72% decline in 2022
FUNDING INTO INTERNET market places across B2B and B2C companies declined 72% year-on-year in CY2022 year-to-date) to around 4.5 billion from a record high of 16 billion in the previous calendar year, estimates from the report released by Bain Company and Accel on Thursday showed.
3 mins
Essar to invest ₹57k cr in petchem, iron ore
ESSAR GROUPS looking to invest close to 57,000 crore in Odisha in an iron ore pellet plant and a crudeto-petrochemicals facility over the next few years.
1 min
Why Britannia is eyeing a bigger slice of cheese
WHAT MAKES BRITANNIA Industries gung-ho about cheese? The company, which posted revenue of 14,359 crore in FY22, recently inked a joint venture with French cheese maker Bel, selling a 49% stake in its wholly-owned subsidiary, Britannia Dairy, to offer Indian consumers a world-class range of nutritious, delicious and accessible cheese products”.
1 min
IT companies step up consulting capabilities
INDIAN IT SERVICES companies are stepping up their consulting capabilities to build differentiation and address their clients’ dynamic needs that go beyond technology.
3 mins
Tata Soulfull bets big on millets in breakfast segment
TATA SOULFULL, A 100% subsidiary of Tata Consumer Products that operates in the health and wellness-focused food segment, is looking to increase its distribution share keeping high millet content in its products as a key differentiator.
1 min
Xi's challenge to China
HIS FAILURES ON MULTIPLE FRONTS, INCLUDING THE ZERO-COVID POLICY, SHOVV FOR ALL THE PRETENCE, CHINA'S IS ASYSTEM NOT QUITE IN CONTROL
3 mins
Good earnings breadth, with positive surprises likely
This should provide good rewards for alpha seekers
2 mins
Cooling demand takes toll on factory activity in Europe, Asia
FACTORIES IN EUROPE and Asia struggled in November due to weakening global demand, with the pressure unlikely to let up in the months ahead.
1 min
Elon Musk warned to keep Putin propaganda off Twitter
ELON MUSK RISKS giving a helping hand to Russian President Vladimir Putin if Twitter’s recent staff cuts prevent the platform from rooting out propaganda about the war in Ukraine, one of the European Union’s top officials warned.
1 min
China loosens grip on Covid three years after first ever case
EXACTLY THREE YEARS since the first documented coronavirus patient developed symptoms in the central Chinese city of Wuhan, the country that fought the pathogen first and most fiercely is finally pivoting away from efforts to quash the pandemic.
2 mins
Jiang Zemin's death injects risk for Xi at fraught time in China
THE DEATH OF former Chinese leader Jiang Zemin poses yet another challenge for Xi Jinping, providing a potential rallying point for people disillusioned by stringent Covid Zero measures and a flagging economy.
1 min
Carlyle, Advent receive RBI nod for Yes Bank stake buy
YES BANK ON Thursday said that the Reserve Bank of India RBI) has given a conditional approval to private equity firms Carlyle Group and Advent International to acquire 9.99% stake each in the lender.
1 min
Foreign investors bat for tax parity on dividends, buybacks in Budget FY24
FOREIGN PORTFOLIO INVESTORS FPIs) want parity in the tax treatment given to dividends and buybacks in the upcoming Budget.
2 mins
Green energy stocks yet to find favour despite rising ESG focus
THE COMMITMENT BY India to attain non-fossil energy capacity of 500 GW by 2030 and to meet half its energy requirements from renewable energy by the same year, has put the spotlight on renewable energy firms. However, the stocks of green energy firms have seen some fluctuations in the markets, suggesting that investor sentiment is still not quite strong.
2 mins
Select overseas bank branches can deal in foreign financial products
THE RESERVE BANK of India RBI) on Thursday said that the overseas branches of Indian banks and those located in the International Financial Services Centres IFSC) in India can deal in structured financial products that are not allowed by the central bank in domestic market.
1 min
RCap value pegged at about 13,000 cr
This is more than double the value of binding bids it got
1 min
Kids on social media: Parents want minimum age raised
AMID GROWING USAGE of social media among children and teenagers in India, parents believe that the minimum age for creating an account on such platforms should be increased to 15 years from 13 years at present.
2 mins
Paperless entry begins at 3 airports
DigiYatra to be launched in 4 more airports by March
2 mins
59.2% voter turnout recorded till 5 pm in first phase of Gujarat Assembly polls
AN AVERAGE 59.24 per cent voter turnout was recorded as of 5 pm on Thursday across 89 Assembly seats in the first phase of Gujarat elections, election officials said.
2 mins
India says will seek to depoliticise food supply
AS INDIA ASSUMED the G20 presidency on Thursday, External Affairs Minister S Jaishankar said New Delhi will seek to \"depoliticise\" the global supply of food, fertilisers and medical products and make consensus on key global issues \"more relevant\" through a wider process of consultation.
2 mins
Govt plans to offer a slew of sops to boost shipbuilding industry
MANOJ KUMAR
1 min
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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