October 28, 2021

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Exports up 46% in August, PM hails India for becoming ‘significant’ defence exporter



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Prime Minister Narendra Modi lauded India’s gradual shift from being a major importer of defence products to becoming an important exporter. India’s exports rose by 45.76 percent to USD 33.28 billion in August, as against USD 22.83 billion in the same month last year. Gaurav Gupta, the co-founder of Zomato, exited the food-tech startup after spending six years. For all these stories and everything in between, here are some top news of the day

BUSINESS & ECONOMY

WPI inflation rises to 11.39 percent in August

Even as CPI inflation softened a bit, the wholesale price-based inflation rose marginally to 11.39 percent in August. The development followed on the backs of higher prices of manufactured goods. In July, WPI inflation was 11.16 percent. Read more

Exports up 46% to $33.28 bn in August

India’s exports rose by 45.76 percent to USD 33.28 billion in August, as against USD 22.83 billion in the same month last year. Imports during the month increased by 51.72 per cent to USD 47.09 billion. Read here

Zomato co-founder Gaurav Gupta quits, ends a 6-year long journey

Gaurav Gupta, the co-founder of Zomato exited the food-tech startup after spending six years. Gupta was elevated as a founder in 2019 and before that, he was the Chief Operating Officer.  Read more

Vistara appoints Vinod Kannan to replace Leslie Thng as CEO from January 2022

Vistara has appointed Vinod Kannan as the Chief Executive Officer with effect from January 1, 2022. The current CEO Leslie Thng will move to a senior position at Singapore Airlines in January. Continue reading

MARKETS

Nifty50 at 20,000 a real possibility in coming quarters: All Star Charts

Nifty50 at 20,000 is a real possibility in the coming quarter as Indian equities have only been “chugging along” with the other emerging markets, JC Parets of All Star Charts told CNBC-TV18. Read more

Zee shares locked in surged over 40 percent as investors consider management rejig 

The share price of Zee Entertainment closed over 40 percent higher to Rs 261.50 Tuesday after Invesco, the largest shareholder of Zee sought an Extraordinary General Meeting to remove three directors, including Punit Goenka, the current MD & CEO. Read more

Ami Organics makes a stellar debut; shares list at a premium of 50%

The shares of Ami Organics and Vijaya Diagnostics made a debut on the bourses today. While the issue of Ami Organics was strong as the shares rose over 50 percent to the issue price, Vijaya saw a lukewarm listing.

YOU & I

Wanna watch these 13 horror films in October and earn Rs 95000? Check details

A US company is looking to hire a person who can watch 13 horror movies in October and give feedback on ‘the scariest movies ever made’. The company will pay Rs 95,000 for watching the movies. Read more

Zerodha’s solution to prevent instances of unclaimed money

Zerodha has added an online nomination and alert feature that will help in preventing the instances of unclaimed money in the financial system, said Nithin Kamath, the founder and CEO of the domestic brokerage major said Monday. Here’s how investors can add nominees via their Zerodha’s Kite and Coin consoles.

Tips to help NRIs optimise savings on money transfers from abroad

Money transfer for Non-Resident Indians (NRIs) from overseas to India is more than often a tedious and stressful task. Many individuals lack awareness vis-a-vis the fees charged by the bank or the intermediary institution as well as on the currency exchange margin on such transactions. Continue Reading

INDIA

PM Modi hails India’s shift from defence products importer to exporter; pitches for UP to be major centre

Prime Minister Narendra Modi on Tuesday lauded India’s gradual shift from being a major importer of defence products to becoming an important exporter. Continue Reading

PM Modi to address UNGA in-person next week

Prime Minister Narendra Modi will address world leaders from the iconic UN General Assembly hall on the morning of September 25, a day after he participates in the Quad Leaders’ Summit in Washington DC hosted by President Biden on September 24. Continue Reading

Favipiravir saw highest sales in past 1 year among COVID drugs; here’s how others fared

Indian pharma companies sold emergency use drugs to treat COVID-19 worth more than Rs 2,600 crore in the past one year. Favipiravir, which was dropped from the treatment guidelines earlier this year, cornered 50 percent of the total sales worth nearly Rs 1,300 crore. Continue Reading

WORLD

South Korea to fine Google $177 million for forcing software on devices

South Korea’s competition watchdog plans to fine Google at least 207.4 billion won (USD 177 million) for allegedly blocking smartphone makers like Samsung from using other operating systems, in what would be one of the country’s biggest antitrust penalties ever. Continue Reading

China’s Hebei province to clamp down on cryptocurrency mining and trading

The cyberspace commission in China’s northern Hebei province said it will cooperate with other government departments to crack down on virtual currency mining and trading, the latest move in the country’s cryptocurrency crackdown. Continue Reading

US consumer prices rise 0.3% in August, lowest in 7 months

US consumer prices rose a lower-than-expected 0.3 percent last month, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. Continue Reading 

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