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PM Narendra Modi likely to inaugurate renovated Pragati Maidan complex on July 26 The redeveloped ITPO complex at Pragati Maidan, which will host G20 Leaders' meetings, is likely to be inaugurated on July 26 by Prime Minister Narendra Modi. The G20 Leaders' summit is scheduled to take place on September 9 and 10 under India's presidency. With a campus area of approximately 123 acres, the Pragati Maidan complex is India's largest MICE (Meetings, Incentives, Conferences, and Exhibitions) destination. In terms of the covered space available for events, t...
PM Narendra Modi likely to inaugurate renovated Pragati Maidan complex on July 26
PM Narendra Modi likely to inaugurate renovated Pragati Maidan complex on July 26
Source: IANS
23/07/2023 11:24:32 AM
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60 Q: How does the world's biggest pizza brand respond to high inflation in the world's most populous nation? A: With the world's cheapest Domino's pizza. The 49-rupee ($0.60) pizza in India, Domino's No.1 market outside America, is the tip of the spear in its fight against rampant inflation that's squeezing profits and pricing out many customers, according to the CEO of its franchisee there. The company wants to "own that price point", said Sameer Khetarp...
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60
Source: Reuters
20/07/2023 9:39:52 AM
Firm trade continues over Dalal Street Firm trade continued over the Dalal Street in early afternoon deals, with both Sensex and Nifty holding gains of over 0.30% each, aided by positive firm cues from other Asian markets along with heavy buying at IT, TECK and Realty counters. Sentiments remained positive, as India’s inflation based on wholesale price index (WPI) deflated for the third straight month in June, on the back of fall in prices of mineral oils, non-food Articles, crude petroleum & natural gas and electricity....
Firm trade continues over Dalal Street
Firm trade continues over Dalal Street
Source: Accord Fintech
14/07/2023 2:19:51 PM
Oil prices rise as weaker dollar offsets China COVID-19 concerns Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world's second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8%, to $93.54 a barrel at 0406 GMT. The December contract expired on Monday at $94.83 a barrel, down 1%. U.S. West Texas Intermediate (WTI) crude rose 58 cents, or 0.7%, to $87.11 a barrel, after falling 1.6% in...
Oil prices rise as weaker dollar offsets China COVID-19 concerns
Oil prices rise as weaker dollar offsets China COVID-19 concerns
Source: Reuters
1/11/2022 9:12:53 AM
Ethereum`s dominance in crypto market up 20% after the `Merge`  The domiannce of Ethereum, the second largest cryptocurrency after Bitcoin, is up 20 per cent in the global crypto market following the 'Merge', a report shpowed on Wednesday. The historic upgrade of Ethereum, known as the 'Merge', last month will create a more energy-efficient network based on the second largest cryptocurrency with a promise to save the environment. According to niche news publisher BanklessTimes.com, the Ethereum merge created a lot of Buzz, with...
Ethereum`s dominance in crypto market up 20% after the `Merge`
Ethereum`s dominance in crypto market up 20% after the `Merge`
Source: IANS
27/10/2022 9:17:33 AM
Tesla doubles net income to $3.3 bn in Q3, automotive sales up 55% Elon Musk-run Tesla has reported $3.3 billion in net income for the third quarter (Q3), more than double from a year ago, and its automotive revenue jumped 55 per cent from the same period last year. In a letter to the shareholders, the electric car-maker said late on Wednesday that the third quarter was another strong quarter with record revenue, operating profit, and free cash flow. "In the last 12 months, our free cash flow exceeded $8.9 billion. Our operating margin reached 17....
Tesla doubles net income to $3.3 bn in Q3, automotive sales up 55%
Tesla doubles net income to $3.3 bn in Q3, automotive sales up 55%
Source: IANS
20/10/2022 9:00:50 AM
After Merge, ether heads for a $20 billion Shanghai splurge  The Merge came, saw and conquered. Not that you'd guess from crypto prices. The Ethereum blockchain's mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive "proof of stake" (PoS) system with hardly a hiccup. Even though anticipation of the event had seen ether rise about 85% from its June doldrums, it has since sunk 19%, hit along with bitcoin and other risky assets by investor angst over inflation and central-bank policy. Nonetheles...
After Merge, ether heads for a $20 billion Shanghai splurge
After Merge, ether heads for a $20 billion Shanghai splurge
Source: Reuters
20/09/2022 4:18:11 PM
India, Russia to discuss energy security as oil, coal trade soars  India and other members of the Shanghai Cooperation Organisation (SCO) will discuss energy security at the regional security bloc's meeting in Uzbekistan, India's foreign secretary Vinay Kwatra said on Thursday. The two-day summit in the Silk Road city of Samarkand will be attended by Prime Minister Narendra Modi, Chinese Premier Xi Jinping, Russian President Vladimir Putin and Pakistan Prime Minister Shehbaz Sharif, among others. It coincides with a sharp rise in Indian i...
India, Russia to discuss energy security as oil, coal trade soars
India, Russia to discuss energy security as oil, coal trade soars
Source: Reuters
15/09/2022 4:52:37 PM
Oil gains on tight supply as U.S. driving season looms LONDON   - Oil prices rose slightly on Monday, supported by U.S. fuel demand, tight supply and a lack of progress towards a European ban on Russian oil, as Shanghai prepares to reopen after a two-month coronavirus lockdown that fuelled economic growth fears. Extending last week's small gains, Brent crude futures rose 53 cents, or 0.5%, to $113.08 a barrel by 1345 GMT while U.S. West Texas Intermediate (WTI) crude 34 cents, or 0.3%, to $110.62. "Oil prices are supporte...
Oil gains on tight supply as U.S. driving season looms
Oil gains on tight supply as U.S. driving season looms
Source: Reuters
23/05/2022 8:05:11 PM
Toyota cuts production due to Covid lockdown in Shanghai Toyota says it will suspend operations at more production lines at its factories in Japan this month due to the coronavirus lockdown in Shanghai, media reports said. The firm says the production halt will come into effect on Monday and stay in place until of end of next week, the BBC reported. It is the latest big car maker to announce that it is being impacted by the Covid-19 measures in China. Meanwhile, Tesla has reportedly halted most production at its Shanghai plant due to probl...
Toyota cuts production due to Covid lockdown in Shanghai
Toyota cuts production due to Covid lockdown in Shanghai
Source: IANS
11/05/2022 8:03:04 PM
Asian stocks follow Wall St futures lower SYDNEY - Asian markets got off to a shaky start on Monday as U.S. stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession. "A series of rate hikes and hawkish communication came against a backdrop of plummeting Chinese and European activity, new plans for Russian energy bans and continued supply-side pressures," warned analysts at Barclays. "This creates the gloomy prospe...
Asian stocks follow Wall St futures lower
Asian stocks follow Wall St futures lower
Source: Reuters
9/05/2022 8:06:44 AM
Oil prices extend losses as Shanghai lockdowns hit demand outlook TOKYO - Oil prices extended losses on Monday amid persistent worries that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would dent global economic growth and fuel demand. Brent crude futures slid $1.90, or 1.8%, to $104.75 a barrel at 0015 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1.89, or 1.9%, to $100.18 a barrel. The benchmarks lost nearly 5% last week on demand concerns. "Bearish sentiment outweighed concerns over tight g...
Oil prices extend losses as Shanghai lockdowns hit demand outlook
Oil prices extend losses as Shanghai lockdowns hit demand outlook
Source: Reuters
25/04/2022 8:34:00 AM
Oil steady despite Libya supply drop, Shanghai preparing to reopen Oil prices were little changed on Tuesday, after rising 1% in the previous session, as Libya was forced to halt some exports and as manufacturers in China prepared to reopen factories after a nearly three-week COVID-19 shutdown in Shanghai. Brent crude futures rose 21 cents, or 0.2%, to $113.37 a barrel at 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $108.19 a barrel. Gains were limited with the dollar trading at a fresh two-year high. A stronger d...
Oil steady despite Libya supply drop, Shanghai preparing to reopen
Oil steady despite Libya supply drop, Shanghai preparing to reopen
Source: Reuters
19/04/2022 8:44:47 AM
Oil slumps as Shanghai lockdown raises fears over drop in demand MELBOURNE/TOKYO -Oil prices plunged about $4 on Monday as concerns over slower fuel demand in China grew after authorities in Shanghai said they would shut the country's financial hub for a COVID-19 testing blitz over nine days. The market kicked off another week of uncertainty, buffeted on one side by the ongoing war between Ukraine and Russia, the world's second-largest crude exporter, and the expansion of COVID-related lockdowns in China, the world's largest crude importer. ...
Oil slumps as Shanghai lockdown raises fears over drop in demand
Oil slumps as Shanghai lockdown raises fears over drop in demand
Source: Reuters
28/03/2022 8:51:09 AM
Shanghai's tourism sector rakes in billions during Spring Festival Shanghai received nearly 11 million visitors and raked in over 17.7 billion yuan ($2 billion) during this year's Spring Festival holiday, local authorities said. During the seven-day national holiday from January 31, Shanghai held approximately 500 cultural and tourism activities focused on intangible cultural heritages, said the Shanghai Municipal Administration of Culture and Tourism, reports Xinhua news agency. Visitors participated in various celebration activities held in ancie...
Shanghai's tourism sector rakes in billions during Spring Festival
Shanghai's tourism sector rakes in billions during Spring Festival
Source: IANS
7/02/2022 1:12:28 PM
Power blackouts now rolled out in Beijing and Shanghai China has now started rolling blackouts in Beijing and Shanghai, metropolises home to 48 million people, as the country struggles with crippling power shortages that have hit key factories in a further threat to the economy, Nikkei reported. The Beijing office of State Grid Corp. of China said it will begin scheduled power outages in select areas through Sunday. Electricity will mainly be cut for a few daytime hours at a time. The rolling blackouts will affect at least four districts in...
Power blackouts now rolled out in Beijing and Shanghai
Power blackouts now rolled out in Beijing and Shanghai
Source: IANS
29/09/2021 2:37:58 PM
Shanghai encourages 'duty-free economy' as part of consumer push BEIJING  - The Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls and other commercial venues, municipal authorities said. The development of a "duty-free economy", which will encourage spending on imported products, including heavily-taxed luxury goods, was outlined in a 2021-2025 consumption plan released on Saturday. Presently, duty-free spending in China is lar...
Shanghai encourages 'duty-free economy' as part of consumer push
Shanghai encourages 'duty-free economy' as part of consumer push
Source: Reuters
18/09/2021 9:32:37 AM
Asian shares, U.S. yields rise as investors reassess rout SHANGHAI - Asian shares and U.S. Treasury yields rose on Wednesday, clawing back some of the week's losses as investors reassessed economic worries, but the dollar was firm on concerns over the impact of a fast-spreading coronavirus variant. Rising COVID-19 infections have rocked global markets this week as investors dumped risk assets, seeking stability in safe haven assets like bonds. That sent stocks tumbling and pushed the benchmark U.S. 10-year yield to five-month lows on Tue...
Asian shares, U.S. yields rise as investors reassess rout
Asian shares, U.S. yields rise as investors reassess rout
Source: Reuters
21/07/2021 8:53:44 AM
China`s crypto crackdown speeds shift to central Asia, North America mining SHANGHAI/HONG KONG -A crackdown by Beijing is rapidly accelerating a shift in focus by makers of machines that 'mine' cryptocurrencies like bitcoin from China to North America and Central Asia as Chinese clients face an uncertain future. China's central government vowed to clamp down on bitcoin mining and trading on Friday, causing some miners to halt all or part of their operations in a country that accounts for more than half of the world's crypto supply. The makers of...
China`s crypto crackdown speeds shift to central Asia, North America mining
China`s crypto crackdown speeds shift to central Asia, North America mining
Source: Reuters
27/05/2021 11:10:16 AM
Baidu-Geely EV venture names Mobike co-founder as chief SHANGHAI - China's Baidu Inc and automaker Geely hired Mobike co-founder and former chief technology officer Xia Yiping as chief executive of their new electric vehicle venture, the search engine giant said on Monday. Baidu last month had announced it would set up a company with Zhejiang Geely Holding Group to leverage its intelligent driving capabilities and Geely's car manufacturing expertise. "Xia has extensive management experience in the field of smart cars and mo...
Baidu-Geely EV venture names Mobike co-founder as chief
Baidu-Geely EV venture names Mobike co-founder as chief
Source: Reuters
22/02/2021 11:35:58 AM