The 6.7% growth in Index of Consumer Sentiments in July 2022 is the highest since September 2021, explains Mahesh Vyas.
Posts tagged Rediff
H-1B visa: US reaches cap for 2023 (24-08-2022)
The US has received sufficient number of applications needed to reach the Congressionally mandated 65,000 H1-B visa cap for the fiscal year 2023, the country’s federal agency for immigration services said on Tuesday. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire thousands of employees each year from countries like India and China.
SpiceJet scouting for funds; plans to add 7 planes (23-08-2022)
SpiceJet is looking for investments from external parties, including airlines, and also plans to add seven more Boeing planes to its fleet, the carrier’s chief Ajay Singh said on Tuesday. In recent times, SpiceJet has faced turbulence — especially with many of its flights suffering technical snags — and subsequently, the airline has faced actions from aviation regulator DGCA. SpiceJet chairman and managing director Ajay Singh said it is doing the utmost to work through the stress that it has faced and the strategy is to raise resources.
I-T notice to Anil Ambani for Rs 814 cr in Swiss bank (23-08-2022)
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
Leading economists see India growing at 13-15.7% in Q1 (23-08-2022)
Leading economists have pencilled in a high 13-15.7 per cent uptick in the economy in the first quarter of 2022-23 with an upward bias. Soumya Kanti Ghosh, the group chief economic adviser at State Bank of India, on Tuesday said he expects the GDP to clip past 15.7 per cent in the first quarter with more chances of the final numbers printing in higher, while Aditi Nayar, the chief economist at the rating agency Icra, said the economy will grow much lower at 13 per cent in the June quarter. The national statistical office will announce the first quarter GDP numbers later next week.
Sub-Rs 10K phone mkt may be only for domestic players (23-08-2022)
How dominant are Chinese firms in India’s sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
Scindia pitches for intl aviation hub in India (23-08-2022)
Union Minister Jyotiraditya Scindia on Tuesday said there needs to be anchor airlines at particular airports, more wide body aircraft as well as synergy between domestic and international departures to have an international aviation hub in India. The country’s civil aviation sector is on the recovery path after being hit hard by the coronavirus pandemic and is projected to have 400 million air travellers in the coming years. “We are in the growth phase and there are tremendous opportunities on the airlines and airports side,” Scindia said.
Govt to raise funds from market for 4 road projects (23-08-2022)
Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. “We will be approaching the capital market to raise funds for the four road projects… there will be an assured return of 7-8 per cent,” Gadkari said while addressing a Ficci event.
Sensex climbs 257 points as bank, auto shares shine (23-08-2022)
Benchmark BSE Sensex and Nifty snapped their two-day losing streak to close nearly half a per cent higher on Tuesday following gains in banking, metal and auto stocks. The 30-share BSE Sensex climbed 257.43 points or 0.44 per cent to settle at 59,031.30. During the day, it hit a high of 59,199.11 and a low of 58,172.48.
Adani group is ‘deeply overleveraged’: CreditSights (23-08-2022)
Richest Indian Gautam Adani’s ports-to-power-to-cement conglomerate is “deeply overleveraged” with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled ‘Adani Group: Deeply Overleveraged’, CreditSights said, “In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies.” Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.