Gold Prices Steadied Above A Major Support Level On Monday As Growing Risks Of An Economic Recession Spurred Some Safe Haven Demand For The Yellow Metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop Spot gold rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce by 20:31 ET (00:31 GMT). Prices of…
Uber reported a net loss of $5.9 billion owing to unrealized losses from holdings in Didi Global, Grab Holdings, and Aurora Innovation, but provided a good earnings projection for the current period. It indicated that the firm intends to capitalize on strong ride demand without jeopardizing earnings by focusing on product upgrades rather than incentives to overcome the driver shortage. The ride-sharing and delivery company forecasted second-quarter gross bookings of $28.5 billion to $29.5 billion…
"Uber reports a $5.9 billion net loss as Asian investment values tumble" India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the tax, known as the Agriculture Infrastructure and Development Cess (AIDC), will widen the gap between the CPO and refined palm oil import duties, effectively making it cheaper for…
"India cuts tax on crude palm oil imports to help consumers, refiners" India exported items worth $23.8 billion during the first three weeks of December, up 36.2 per cent year-on-year. This came amid robust external demand for goods, according to preliminary data collated by the commerce and industry ministry. The growth was 27.7 per cent as compared to the same period of 2020. In terms of value, goods worth $18.65 billion were exported two years ago. Export of other items, excluding petroleum oil and lubricants, increased more…
"Exports rise 36% to $23.8 billion in first three weeks of December" By Administrator_India Capital Sands MUMBAI : One 97 Communication Ltd, the company that runs the Paytm payments service, is among the best bets to ride the fintech wave in India, analysts said, even as some expressed reservations about the lofty valuation the company is seeking. The Paytm initial share sale, which opens for subscription on Monday, aims to raise ₹18,300 crore at a band of ₹2,080-2,150, valuing the company at ₹1.39 trillion at the top end. “At the upper…
"Paytm best bet to ride fintech, but valuations lofty" By Administrator_India Capital Sands President of The Walt Disney Company India, K Madhavan, has rented an apartment in Mumbai’s posh Pali Hill area for a whopping Rs 11.5 lakh per month, documents accessed. The fully furnished serviced apartment located on the ninth floor of a posh building named Kubelisque, which houses premium apartments in Bandra West, is spread across 5751 sq ft, the documents showed. The apartment has been rented for 36 months starting September 1,…
"Walt Disney India head rents apartment in Mumbai for Rs 11.5 lakh per month" By Administrator_India Capital Sands Amazon.com Inc., Microsoft Corp. and Cisco Systems Inc. are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry. Prime Minister Narendra Modi’s administration, which is seeking to ensure food security in the world’s second-most populous nation, has signed preliminary agreements with the three U.S. titans and a slew of local businesses starting April to share farm…
"Amazon, Microsoft, Cisco swoop in on $24 billion India farm-data trove" By Administrator_India Capital Sands In a tie-up with Cordelia Cruises, a private company, it will begin the first cruise from September 18 for which bookings can be done on the IRCTC website http://www.irctctourism.com. “IRCTC has joined hands and signed the agreement with Cordelia Cruises being operated by M/s Waterways Leisure Tourism Pvt. Ltd for promotion and marketing of the first indigenous luxury cruise in India. This is another incredible luxury travel offering under IRCTC’s umbrella of tourism services to…
"IRCTC to launch India’s first luxury cruise liner from September 18; check details" By Administrator_India Capital Sands Interest rates on fixed deposits (FDs) are nearly at their all-time lows. These are not the best of times if you wish to invest in a financial instrument for getting some regular income. For instance, State Bank of India’s three-year FD for senior citizens gives 5.80 percent interest. A one-year FD offers interest of 5 percent. The prevailing inflation rate is around 5.59 percent. So, on a one-year FD, you would be earning…
"Fixed deposit rates are at all-time lows: Here are some better alternatives for regular income" By Administrator_India Capital Sands Google has partnered with fintech company Setu to let its users open fixed deposits (FDs) through Google Pay. Initially, FDs of Equitas Small Finance Bank will be offered for a period of one year, with a maximum interest rate of 6.35 percent. Aadhaar-based KYC (know your customer) will be mandatory for users to open the FDs, the report said. Moneycontrol could not independently verify the story. “The beauty of the system is that you…
"Google joins hands with Setu to let users open FDs on GPay" By Administrator_India Capital Sands Sentiments in the real estate market turned pessimistic during the April-June quarter because of the outbreak of the second wave of COVID-19 pandemic but the future outlook for the next six months remains optimistic, according to a survey by Knight Frank, FICCI and Naredco. In the 29th edition of Real Estate Sentiment Index Q2 2021, the consultant said the current sentiment score dropped to 35 in April-June 2021 from 57 in the first quarter of…
"Sentiments in property market turns pessimistic in April-June: Report"
