What’s happening in Business world ?
- According to reports, Facebook Inc. has partnered with Indifi to offer loans of up to Rs.50 lakh to its marketers in India.
- Aurobindo Pharma has allegedly terminated its arrangement with Cronus pharmaceutical specialties India acquiring a 51% share.
- In India, the market for early public services has become a feeding frenzy.
- Money collected in IPOs this year amounted to $8.8 billion, which is more than three years old, although it is August alone. At the present rate, the record of $11.8 billion would be exceeded in 2021. Founders, bankers, attorneys, and advisors struggle for fresh public offerings to capitalize on ardent demand.
- Under ‘Retail Bonanza – Monsoon Dhamaka,’ the State Bank of Maharashtra is currently waiving the processing charge for gold, house, and auto loans.
- In Gujarat, the world’s leading company in the steel and mining business, ArcelorMittal would invest Rs.100,000 in various projects. Including its Hazira steel mill near Surat: the Gujarat administration.
- Over the 12 months ended in June, people spent over $610 billion dollars on Amazon. Also for the 12 months ending in July, Walmart reported Tuesday sales of $566 billion.
- Chinese IT inventories fell on Friday to a new lower. Also Hong Kong’s benchmark index plummeted to almost ten months, as Chinese regulatory crackdowns broke investor confidence.
- Within a week, the business markets in Hong Kong and China lost almost $560 trillion in market value because funds fled once-favored stocks, fearing that sectors would target the next.
- According to the RBI, the annual FI-Index reached 53.9, up from 43.4. This is for the financial year ending March 2021 for the year ended March 2017
Also read: ₹100 lakh crore Master plan: Gati Shakti to boost infrastructure-PM MODI
