Sips continue to gain in popularity; Zomato’s investment plans and more

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Zomato CEO Deepinder Goyal said the company will invest $ 1 billion in more businesses over the next two years. India’s economic recovery has continued its upward trend even as the global economic recovery remains crippled, according to the latest economic report from the Ministry of Finance. Monthly SIP dues hit an all-time high at Rs 10,518 crore during the reporting period, here are some of the top news of the day

ECONOMY

Reduction of excise duties on gasoline, diesel clearly positive: RBI

The recent central government decision to cut excise taxes on diesel and gasoline is a big positive for inflation, Reserve Bank of India Governor Shaktikanta Das said on Wednesday. Continue reading

Monthly SIP contributions hit record high

Positive sentiment and stock market rallies helped equity-focused mutual funds attract Rs 5,215 crore in October. Monthly contributions to the SIP hit a record high of Rs 10,518 crore during the period under review, up from Rs 10,351 crore in September. Read more

India’s economic recovery on track: FinMin report

India’s economic recovery has continued its upward trend even as the global economic recovery remains crippled, according to the latest economic report from the Ministry of Finance. Continue reading

MARKETS

Zomato to invest $ 1 billion in more startups

Zomato CEO Deepinder Goyal announced the company’s investments in startups such as Curefit, Shiprocket and Magicpin, and said the company will invest an additional $ 1 billion in other companies over the next two years. Read more.

Nykaa continues to rise after stellar roster

PharmEasy has filed documents for an IPO of Rs 6,250 crore

PharmEasy’s parent company API Holdings has filed documents with market regulator SEBI for an IPO to raise more than Rs 6,250 crore. The offer is purely a new issue of shares. The company may raise more than Rs 1,250 crore through a private placement prior to the IPO, in which case the size of the IPO will be reduced. Read more

INDIA

Key points from the NSA meeting on the Afghan crisis

The dialogue aimed to form a regional consensus on tackling the growing threats of terrorism, radicalization and drug trafficking after the Taliban took over Kabul. Read more

Man arrested for rape threats against Virat Kohli’s daughter

Mumbai police arrested a 23-year-old man from Hyderabad on Wednesday for threatening to rape the granddaughter of cricketer Virat Kohli online following India’s loss to Pakistan in the recent FIFA World Cup. world T20. Read more

Covaxin approved in Hong Kong, Vietnam

Hong Kong and Vietnam on Wednesday approved Bharat Biotech’s COVID-19 vaccine, Covaxin, for emergency use. Read details

INTERNATIONAL

Xi Jinping lays the foundation for China 3.0

As world leaders haggle over show targets behind the smoky backstage of Glasgow, one man is conspicuous in his absence. Chinese President Xi Jinping remains stuck in Beijing, his eyes firmly fixed on what is likely to be a defining moment for the country’s political future: the secret plenary meeting of the Chinese Communist Party. Read more

Elon Musk loses $ 50 billion in two days

Tesla CEO Elon Musk saw his fortune drop by $ 50 billion after he announced the sale of 10 percent of Tesla’s stake. The electric car maker also lost $ 200 billion in market valuation. Here’s why.

Malala Yousafzai marries in Great Britain

Nobel Peace Prize Laureate Malala Yousafzai married Aseer Malik, Managing Director of the Pakistan Cricket Board High Performance Center. While Yousafzai did not reveal any information about her husband, the Internet identified him. See the wedding photos here.

You and me

Here’s why you should invest in cryptos

If you had invested Rs 1,000 in Bitcoin in 2020, it would have become Rs 5,000 now, since it has gone from $ 10,000 to $ 60,000. That’s just one of the reasons it’s a must have for your wallet. Read more here.

Social media users could turn off algorithms in new US proposal

A bipartisan group of US House of Representatives lawmakers introduced a bill that would force internet platforms such as Meta’s Facebook and Alphabet’s Google to allow users to see content not chosen by algorithms . Read more here.

Step-by-step guide to obtaining a digital life certificate

Jeevan Pramaan Patra is an essential document that must be submitted by all government retirees to receive an uninterrupted pension. Read more

(Edited by : Yashi Gupta, Aditi Gautam)


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