 "Photo: Bloomberg")
$7.5 bn derivative trade shifts to India as SGX feud comes to end
Derivative contracts with a notional value of about $7.5 billion traded in Singapore will shift to India as a cross-border trading link between the two Asian countries’ top bourses gets fully operational on Monday. Read more
Delhi govt collects Rs 1,700 cr in excise duty, VAT in April-June quarter
The Delhi government's Excise department has earned nearly Rs 1,700 crore in excise duty and value-added tax in the first quarter of 2023-24, official data showed. In the 2022-23 fiscal, the department had raked in Rs 6,821 crore by selling over 62 crore bottles of liquor. The amount included Rs 5,548.48 crore as excise duty and Rs 1,272.52 crore as value-added tax. Read more
Musk puts temporary reading limits on Twitter to stop data scrapping
Twitter owner Elon Musk on Saturday announced that the microblogging platform has imposed some 'temporary limits'. The move came amid reports of many users complaining of an outage. Many users said that they were receiving error messages on their timelines like 'cannot retrieve tweets' and 'rate limit exceeded'. Read more
China goes on natural gas buying spree like there's still an energy crisis
China is on a natural gas shopping spree, and officials are happy for importers to keep striking deals even after a global energy crisis has eased. The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security through the middle of the century, according to people who have had meetings with policymakers. Read more
Domestic PV sales see lukewarm growth of 1.9% due to strong base effect
Domestic wholesale of passenger vehicles (PVs) observed a lukewarm growth of 1.9 per cent year-on-year to 327,700 units in June this year due to a strong base effect. Shashank Srivastava, the Senior Executive Officer, Marketing and Sales of Maruti Suzuki, mentioned that apart from the base effect, the PV manufacturers are facing two other challenges: high-interest rates and uncertainty over monsoon. Read more
