Business

Huawei CEO wants to speak to Joe Biden


Beijing: Huawei Founder and CEO Ren Zhengfei has urged the new US administration to adopt a more "open policy" towards Chinese companies, while he also expressed his desire to talk to President Joe Biden.This is the first time the Huawei Founder has spoken to international media since the new administration took office in the...

US stocks hit record highs, bitcoin surges after Tesla news


New York: Major US stock indexes registered all-time closing highs this week amid optimism over U.S. fiscal stimulus, and bitcoin jumped after Tesla revealed it had purchased $1.5 billion of the cryptocurrency and would soon accept it as a form of payment.The world's most widely-held cryptocurrency, bitcoin touched a record high following the Tesla...

Govt made budget transparent, nothing under wraps: FM

Post Date: February 10, 2021

New Delhi: Finance Minister Nirmala Sitharaman said that the government has managed to make the Union Budget transparent and there is nothing under wraps or swept under the carpet. "Whatever the government is borrowing or spending is open for everyone to see," she said during a virtual event 'Demystifying Union Budget 2021-22', organised by the...

India’s FY22 budget has potential to lift growth: Fitch


Mumbai: India's FY22 budget has the potential to lift economic prospects, as higher expenditure will support the near-term recovery and increased infrastructure spending could boost sustainable medium-term growth rates, said Fitch Ratings. Accordingly, the ratings agency pointed out that labor market and agricultural reforms that were legislated in September 2020 could also lift medium-term growth. However,...

US monitoring turbulent market activity after Robinhood fiasco

Post Date: February 4, 2021

Washington: After online trading app Robinhood, co-founded by Indian American Baiju Bhatt, created a mayhem among the traders this week, the US Securities and Exchange Commission (SEC) has said it is closely monitoring and evaluating the extreme price volatility of certain stocks' trading prices over the past several days.Although the FAA did not directly...

GameStop plunges after two wild weeks


New York: After a volatile, two-week ride "to the moon" powered by an army of online cheerleaders on the Reddit platform, GameStop and AMC Entertainment plunged back to earth in trading as questions continue to swirl around the stunning upset of financial power on Wall Street.On a day when stocks closed broadly higher on...

Amazon founder Jeff Bezos to step down as CEO


New York: Jeff Bezos, who built an online bookstore into a $1.7 trillion technology empire reaching into space, has announced he will be stepping down as CEO at the apex of his career to focus on innovations.Bezos, who extended the company's reach to India with multi-billion dollar investments, said he will move away from...

Thrifty Budget: India proposes mega spending push


New Delhi: Finance Minister Nirmala Sitharaman has proposed to unleash a massive fiscal expansion in 2021-22 on the back of fire sales and cesses, to revive India's pandemic-battered economy. Accordingly, she proposed to increase the capital expenditure by 34 per cent in Budget 2021-22 in comparison to the previous fiscal BE (Budget Estimate). In her Budget...

Amazon unveils spiral glass structure design for HQ2


Amazon has unveiled the design for HQ2, its futuristic new campus in northern Virginia.  The new headquarters will be home to 2.8 million square feet of office space across three buildings and 2.5 acres of public space. The centerpiece of the campus will be the Helix, a glass structure with walking paths winding around...