January 2022 – TradenTalks

Oil rises, hovers near 7-year highs on supply fears, political risks

January 31, 2022 Administrator_IndiaMarket, News, Oil prices, World0 comment

Oil rose 1% on Monday, hovering near 7-year highs hit in the previous session, amid concerns over tight supply as well as geopolitical tensions in Eastern Europe and the Middle East. Brent crude rose 92 cents, or 1.0%, to $90.95 a barrel at 0051 GMT, after adding 69 cents on Friday. The front-month contract for March delivery expires later in the day. The most-active Brent contract, for April delivery, was trading at $89.69, up $1.17 or 1.3%. U.S. West Texas Intermediate crude rose 99 cents, or 1.1%, to $87.81 a…

India

Finance Ministry allows two states to borrow additional Rs 7,309 crore

January 29, 2022 Administrator_IndiaFinance Minister, India, News0 comment

The finance ministry on January 28 granted additional borrowing permission of Rs 7,309 crore to two states for undertaking stipulated power sector reforms. Rajasthan and Andhra Pradesh have been allowed to borrow additional Rs 5,186 crore and Rs 2,123 crore, respectively. “Department of Expenditure has granted additional borrowing permission of Rs. 7,309 crore to two States for undertaking the stipulated reforms in the power sector,” an official statement said. The ministry, based on the recommendations of the 15th Finance Commission, has decided to grant additional borrowing space of up to…

companies

Tatas get control of Air India, after 7 decades

January 28, 2022 Administrator_IndiaAir India, Companies, Tata Group0 comment

The Tata Group on Thursday regained ownership of Air India, 69 years after the airline was nationalised. The salt-to-software conglomerate promised to turn the loss-making carrier into a world-class airline. The handover has come as a culmination of the government’s attempt to transfer the ownership of the loss-making airline to a private owner. The airline never made profit since its merger with Indian Airlines in 2007-08 and reported a loss of Rs 7,017 crore in FY21. The acquisition gives Tatas 100 per cent ownership in Air India, its low-cost subsidiary Air India Express and…

India

LIC exits Air India debt at a profit, sells back entire Rs 3,800 cr holding

January 27, 2022 Administrator_IndiaIndia, Insurance, News0 comment

The Life Insurance Corporation of India (LIC) has exited its entire investment in Air India’s (AI’s) debt instruments before the airline is handed over to Tata Group on Thursday, as part of the government’s privatisation programme. According to a banking source, the government-owned insurer sold its holding of Rs 3,800 crore back to the airline after AI offered to pre-pay debt worth Rs 12,900 crore to investors. “LIC, which has invested Rs 3,000 crore, exited at a premium and will not invest in the airline in future as it will now be…

India

PM Narendra Modi to interact with BJP workers today

January 25, 2022 Administrator_IndiaIndia, Narendra Modi, PM0 comment

Prime Minister Narendra Modi will interact with BJP workers from across the country via NaMo app today. The interaction comes in the run-up to the assembly polls in five states, including Uttar Pradesh, with the Election Commission not allowing physical rallies by political parties due to the COVID-19 pandemic. “Please do join. Hon Prime Minister Shri @narendramodi Ji will interact with BJP Karyakartas from all over the country on Namo App (audio) at 11 AM tomorrow,” the office of BJP president J P Nadda tweeted on Monday.

Cryptocurrency

Bitcoin collapse wipes off $1 trn in the blink of an eye

January 24, 2022 Administrator_IndiaBitcoin, Cryptocurrency, World0 comment

Bitcoin was last hovering around $35K mark, after falling as low as $34,000 With the blink of an eye, more than a trillion dollars in crypto-market value has evaporated. The jarring downturn that’s been a hallmark of digital assets in recent weeks continued to play out this week and into Saturday, with Bitcoin at one point losing more than 15% during that stretch. The coin, which is the largest digital token, has dropped more than 50% from a recent peak, and many other cryptocurrencies have lost just as much, if…

Coronavirus News

Omicron spread: Vaccinate teens in mission mode, says PM Narendra Modi

January 10, 2022 Administrator_IndiaCoronavirus, India, Omicron0 comment

Prime Minister Narendra Modi, chairing a high-level review meeting on Sunday, called for accelerating vaccination in the 15-18 age group in mission mode and ensuring adequate health infrastructure in districts. The review meeting, held to take stock of the country’s Covid preparedness, came on the day India registered around 160,000 cases and the daily positivity rate crossed 10 per cent. India has given the first dose of the Covid vaccine to 31 per cent the adolescents aged 15-18 years so far within seven days. The prime minister said even as…

Business

Google hit with 150 million euro French fine for cookie breaches

January 7, 2022January 7, 2022 Administrator_IndiaData, Facebook, Google, News0 comment

France’s data privacy watchdog CNIL said on Thursday it had fined Alphabet’s Google a record 150 million euros ($169 million) for making it difficult for internet users to refuse online trackers known as cookies. Meta Platforms’ Facebook was also fined 60 million euros for the same reason, the CNIL said. “The CNIL has found that the facebook.com, google.fr and youtube.com websites do not allow to refuse cookies as easily as it is to accept them”, the watchdog said in a statement, also citing Google’s video-streaming platform. The authority said the two companies had three months to…

India

Rising Covid cases dampen hopes of India box office touching Rs 2,000 crore in Q1

January 6, 2022 Administrator_IndiaBox Office, India, Omicron0 comment

Just when India’s box office business was seeing a strong recovery, rising cases of Covid-19 and its new variant, Omicron, have slowed the growth momentum. The release of big-budget films has been pushed after some states asked theatres to close and others restricted capacity. These factors are once again putting pressure on the box-office business. According to film producer and trade business analyst Girish Johar, Indian films were estimated to earn Rs 1,500-2,000 crore during the first three months of 2022. However, the concerns over a likely third wave of coronavirus infections has dampened hopes of…

Economic News

IMF delays release of new forecast to January 25 to factor in COVID-19 developments

January 5, 2022 Administrator_IndiaIMF, News, World0 comment

The International Monetary Fund has delayed the release of its World Economic Outlook by one week to January 25 to factor in the latest COVID-19 developments, a spokesperson for the global lend. The World Economic Outlook update will be launched on January 25 to allow our teams to incorporate the latest developments related to the COVID-19 pandemic into the economic forecasts,” the spokesperson said. IMF spokesperson Gerry Rice had told reporters last month the update to the fund’s forecast would come on January 19.