Financial News

India gains 26 spots on mobile download speeds globally INN Fri, 27/01/2023 - 16:22

As India rolls out 5G slowly but steadily, the country went up 26 spots in rank globally for median mobile speeds, from 105th in November 2022 to 79th in the month that followed, a report showed on Friday.

Median mobile download speeds in India increased from 18.26 Mbps in November to 25.29 Mbps in December, according to network intelligence and connectivity insights provider Ookla.

However, India decreased one spot in rank globally for overall median fixed broadband speeds and is now at 81st position from 80th in November.

Oracle introduces new logistics capabilities to boost global supply chains INN Wed, 25/01/2023 - 18:40

Cloud major Oracle is introducing new logistics capabilities within its Fusion Cloud Supply Chain and Manufacturing (SCM) offerings, that will help customers cut costs, improve accuracy and automate regulatory compliance.

Logistics leaders are overwhelmed with a recent buildup of port and shipping delays, fluctuating fuel costs, and evolving trade regulations while also being at the forefront of efforts to reduce carbon emissions of goods in transit.

Microsoft logs slowest quarter growth in 6 years, PC sales nosedive INN Wed, 25/01/2023 - 18:39

Microsoft has recorded its slowest sales growth in more than six years in its December quarter of 2022, as it took a $1.2 billion hit after laying off 10,000 people amid poor PC sales globally.

Revenue was $52.7 billion and increased 2 per cent while net income was $16.4 billion, decreased 12 per cent for the quarter that ended December 31.

Ola Electric users complain of vehicle's front suspension on Twitter INN Wed, 25/01/2023 - 18:38

Several users of the Ola Electric scooter have been complaining about the front suspension of the vehicle on Twitter, as some of them have met with an accident.

A user Samkit Parmar tweeted that his wife suffered an accident as her Ola scooter's front wheel broke out of the suspension.

Indian Real Estate investment grew by 32%: Report INN Wed, 25/01/2023 - 18:38

Indian real estate investments grew by 32 per cent Y-o-Y to an all-time high of USD 7.8 million, according to consulting firm CBRE South Asia Pvt Ltd.

On a quarterly basis, investments in Indian real estate stood at USD 2.3 billion in the October-December quarter, growing by 64 per cent Q-o-Q and 115 per cent Y-o-Y, CBRE said in its report titled 'India Market Monitor 2022'.

Noise launches new earbuds for intensive gaming sessions INN Wed, 25/01/2023 - 18:36

Homegrown lifestyle tech brand, Noise has announced the launch of its first gaming TWS (True Wireless Stereo) earbuds -- 'Buds Combat'.

Suited for intensive gaming sessions, the new earbud comes at Rs 1,499 and is available in Stealth Black, Covert White and Shadow Grey on the company's official website and online stores, said the company.

The age of AI is upon us and Microsoft is powering it INN Wed, 25/01/2023 - 18:33

 As the world goes gaga over the real-life use cases of ChatGPT, Microsoft Chairman and CEO Satya Nadella has said that the next major wave of computing is being born as we turn the world's most advanced AI models into a new computing platform.

In a conference call with analysts after posting quarterly results, Nadella said that we're going to lead in the AI era, knowing that maximum enterprise value gets created during platform shifts.

Traders' Body terms GST one of most complicated taxation system, urges FM for review INN Wed, 25/01/2023 - 18:32

Terming GST one of the "most complicated" taxation system, Traders' body Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to announce review of GST taxation system and all Acts and Rules concerning retail trade and One Nation-One Licence Policy for domestic trade.

In its pre-Budget wishlist, it has also urged for effective pension scheme for traders, insurance scheme for traders as per scheme applicable in state of Uttar Pradesh.

By INN, 25 January, 2023

The Reserve Bank of India (RBI) is set to auction its maiden sovereign green bonds (SGrBs) worth Rs 8,000 crore on Wednesday.

The Central government's new SGrB 2028 and SGrB 2033 are going to be auctioned.

These are part of the Rs 16,000 crore sovereign green bond auction that the RBI will conduct in the current fiscal.

The second round of green bonds auction will be conducted on February 9.

The central bank is auctioning two green bonds with tenures of five and 10 years, worth Rs 4,000 crore each.

By INN, 25 January, 2023

 Elon Musk-owned Tesla has announced that it will be investing over $3.6 billion more to continue growing its Gigafactory in Nevada in the US, and will also add 3,000 new members to the team.

The company also said that it will add two new factories -- a 100 GWh 4680 cell factory (with a capacity to produce enough batteries for 1.5 million light-duty vehicles annually), as well as its first high-volume Semi factory.