BUSINESS
October a good time to expect RBI rate cut, but need to be watchful of Fed: Envision's Nilesh Shah
Speaking in an exclusive interview to Moneycontrol, Shah also noted that RBI's decision will also be measured against US Federal Reserve's rate decisions. The market guru cautioned, "If the US Fed stance is not that of an accelerated hike, then we should be fine."
TECHNOLOGY
Today in AI: iPhone manufacturer seeks to boost server sales, South Korea uses AI to measure Kim's weight and more
Our daily TLDR of important AI stories you must know about.
BUSINESS
Buying cheap Russian oil despite global glare reflects India's self-confidence: Jefferies' Chris Wood
In his weekly 'GREED & Fear', Wood said that despite initial pressures from US on New Delhi, the Modi government "has been consistent in its public stance that it will continue to act in its own national self-interest, which is to buy cheap Russia oil."
BUSINESS
$9 trillion worth! Apple, Microsoft, 3 other tech companies now make up 25% of S&P 500
According to a Bloomberg report, this year’s tech rally has lifted Apple, Microsoft, Alphabet and Amazon at least 30 percent and doubled the value of Nvidia and Meta
BUSINESS
20% TCS ‘terrible policy, period’: Experts cry foul over tax on foreign spending via credit card
While some explained how unnecessary the move is, others simply disregarded the decision saying, "20% TCS on LRS. Why?", "ludicrous policy" and more.
BUSINESS
Sebi's proposed fee caps could slash AMC profits by Rs 1,400 crore
AMCs are already under pressure from changes in taxation for debt mutual funds and the new proposal by the Securities and Exchange Board of India to bring a uniform total expense ratio (TER) will impact profits by 13 percent, or Rs 1,400 crore loss, according to Jefferies report released on May 19.
TECHNOLOGY
OpenAI launches official ChatGPT app for iOS
The roll out of the app begins from the US and "will expand to additional countries in the coming weeks," the company noted.
BUSINESS
7 out of 10 job seekers now prefer large corporates, startups a secondary choice: Report
The survey stated that only 27 percent employees would still consider switching to startups for career growth. "This indicates that professionals are focusing on upskilling and keeping themselves relevant to grow in their current organization," it added.
ASSEMBLY-ELECTIONS
Karnataka Polls: CM Bommai won’t have it easy at Shiggaon, a traditional BJP stronghold
Bommai's image has taken a beating since he became the CM in 2021. His inability to check mismanagement and corruption in the government — something he himself has been accused of — has put a blot on his career.
AUTOMOBILE
FAME-II scheme case: Hero Electric CEO says not received any notice for subsidy recovery; awaits quick resolution
Hero Electric CEO Sohinder Gill said the company awaits "any formal communication from MHI towards quickly resolving the subsidy deadlock." The statement comes just days after reports of an investigation ordered by MHI showed the two companies "allegedly used multiple imported components in electric two wheelers, violating norms."
INDIA
PM Modi to launch India's first Water Metro on April 25: All you need to know
Water Metro is a unique urban mass transit system with the same experience and ease of travel as that of conventional metro system. Here are more details on the new project.
BUSINESS
Zepto appoints CoinSwitch's Ramesh Bafna as its new CFO
Bafna will take over the role from Jitendra Nagpal in Zepto around mid-May.
BUSINESS
'You should have politicians as friends and not business partners': DLF's KP Singh
On the point about business and politics, the 92-year-old property baron mentioned that his biggest learning through political connections is to never get too involved in it.
BUSINESS
Why Zerodha's Nithin Kamath thinks extending F&O trading hours is not a good idea
The CEO of Zerodha also mentioned that extended F&O trading hours "will level the playing field for domestic traders against international traders and are also good for capital markets businesses in terms of revenues, but I'm conflicted."
BUSINESS
GST Council Meeting: From states' compensation to rate cuts, here are key announcements by FM
Here is a lowdown on the rate cuts proposed and cleared by the Council, including clarification on GST Appellate Tribunal formation.
BUSINESS
India to get fair share of equity flows despite China re-opening: Citi's Badrinivas
Badrinivas' comments come in the backdrop of China opening up and foreign institutional investors (FIIs) being bullish there amid pent-up consumption and India's higher valuations.
BUSINESS
SMEs on hiring spree, outlook upbeat for 2023 recruitment as well: Report
According to Apna.co report, jobs posted by SMBs clocked a 60 percent surge year-on-year, mainly due to opportunities emerging from across tier 1 and 2 cities like Delhi-NCR, Mumbai and Bengaluru and also from Pune, Ahmedabad and Jaipur.
TRENDS
Kerala, not Goa, most favourite beach destination for Indians in Q3; London, Dubai, Paris highly searched overseas cities: Airbnb
Apart from that, the North East region has proved to be a trending destination among travellers as data shows a significant increase in searches for stays in Meghalaya, Assam, and Nagaland from Q3 2021 to Q3 2022.
TECHNOLOGY
Indians spend 7.3 hours on phone every day, more than Americans and Chinese: Report
According to Redseer report, India has hit 780 million internet users in 2022. Its internet user base to cross 1 billion by 2030 and surpass China.
INDIA
Beat T3 chaos, your face can be the boarding pass with DigiYatra. Here's how to get started
Your face is boadring pass DigiYatra is aimed at making the flight boarding process significantly faster and more seamless for passengers
BUSINESS
India can play a leading role in 'reimagining globalisation': McKinsey's Bob Sternfels
Sternfels noted that he is not naive to the challenges being faced in the world in terms of inflation, difficult geopolitics, and environmental challenges, and India is not immune to those.
BUSINESS
Not looking at any strategic alliance with Capri Global Holdings: Fino Payments Bank CFO
When asked on the competition level between Fino Payments Bank and Capri Global Holdings, Ketan Merchant added that there was no competition between the two as both are mutually exclusive businesses.
BUSINESS
"I'm sorry... I f---ed up": Crypto billionaire Sam Bankman-Fried blames himself for FTX fiasco
In a series of tweets, Bankman-Fried said, "...I was CEO, which means that *I* was responsible for making sure that things went well. I*, ultimately, should have been on top of everything. I clearly failed in that. I'm sorry."
WORLD
Imran Khan assassination bid: How Pakistani newspapers covered the attack on former PM
Coming out strongly on such an act of violence against one of Pakistan’s most popular and influential political leaders, several politicians, world leaders, and newspapers labelled Khan's escape from death a "miracle".
