Author: Apurva More

The Elon Musk-led company Tesla’s stock fell 11% to settle at $109.10, marking the seventh straight day of declines and the biggest decrease since April. The market value of the manufacturer of electric vehicles has decreased to about $345 billion, which is less than Walmart Inc., JPMorgan Chase & Co., and Nvidia Corp. Since October began, the value of the company’s stock has decreased by more than half. Tesla lost its ranking as one of the top 10 most valuable firms in the S&P 500 Index, a position it had maintained since establishing the benchmark in December 2020, as a…

According to a report from the finance ministry, the government’s overall debt grew to Rs 147.19 lakh crore by the end of September over Rs 145.72 lakh crore at the close of this fiscal year. It displays a 1% growth from quarter to quarter in the second quarter of 2022–2024 (FY23). According to the Finance Ministry’s quarterly report on public debt management, public debt increased from 88.3% as of June 30 to 89.1% of total gross liabilities at September-end 2022. According to the report, the Central Government acquired Rs 4,06,000 crore via dated securities during the second quarter, as opposed…

According to data provided by the National Bureau of Statistics (NBS) on Tuesday, industrial profits of China decreased by 3.6 percent from January through November of last year to 7.7 trillion yuan ($1.11 trillion). Comparatively, the decline for January through October was 3.0 percent. Only 2.2% of industrial output increased year over year in November, falling short of forecasts for a 3.6% increase and substantially slower than the 5.0% growth witnessed in October. As the COVID-19 virus propagated through important manufacturing hubs, rigorous COVID-19-related restrictions interrupted plant production and supply lines. The dismal statistic indicates the impact that anti-virus restrictions…

According to Russian Deputy Prime Minister Alexander Novak, Moscow is prepared to revive gas supplies to Europe through the Yamal-Europe Pipeline. Since its invasion of Ukraine in February, Russia and Europe have been at odds over energy. “Political factors” were claimed to have stopped the Yamal-Europe gas pipeline from supplying gas to Europe. As long as there is a gas deficit, the European market is still relevant, and Moscow has every chance of restarting supply, Novak said in comments that were released by the agency on Sunday. According to him, there is a growth in gas demand from Europe, and…

India and Russia have decided to discontinue conducting their bilateral trade settlements in Dollar and Euro and instead use the Rupee and the Rouble, according to a senior source in the Russian foreign ministry. New Delhi considers a mutual commitment to forgo Dollar and Euro transactions with Russia as an essential precaution because, otherwise, doing business with Russian banks and firms is either extremely difficult or impossible owing to sanctions. The move is required, according to Zamir Kabulov, Chief of the India division at the Russian Ministry of Foreign Affairs, in order to deal with the trade imbalance and prepare…

On 22nd December, a division of Reliance Industries Ltd (RIL), Reliance Retail Ventures Ltd (RRVL), has inked agreements to buy a 100% equity investment in METRO Cash & Carry India Pvt Ltd. (METRO India) for a total value of Rs. 2,850 crore. The deal is subjected to close by March 2024. With over 3 million consumers in India, including 1 million recurrent customers, Metro AG, the multi-channel cash-and-carry merchant has a large customer base. Mukesh Ambani-led Reliance’ s position in Indian retail industry will be strengthened by this acquisition. A chain of METRO India’s 31 big format stores spread across 21 cities and supporting…

The Lower House of the Spanish Parliament approved a Transgender Bill allowing individuals over the age of 16 to modify their legal recorded gender without the need for medical supervision on Thursday. 188 lawmakers voted in favor of it, while 150 opposed it. The Senate will now decide whether to approve it. It will become a law in a matter of weeks if it remains unaltered. Left-wing Podemos, which is a member of the coalition government alongside Pedro Sánchez’s Socialist party, has worked to bring about the reform. A medical diagnosis of gender dysphoria, which is the feeling that one’s biological…

Afghanistan’s Taliban has ordered a ban on University Education for women, which has provoked international outrage and left many Afghans feeling hopeless. Women are excluded from both private and public universities on Tuesday, effective immediately and indefinitely. Neda Mohammad Nadeem, the Minister of Higher Education, made the announcement in a letter sent to all public and private universities, “You all are informed to immediately implement the mentioned order of suspending the education of females until further notice.” Three months after hundreds of women took university entrance exams nationwide, higher education is now prohibited by the Taliban Since the Taliban’s return…

Aerojet Rocketdyne Holdings Inc. will be acquired by L3Harris Technologies Inc. in a deal worth around $4.7 billion.

On December 17, 2022, the 48th GST Council convened virtually in New Delhi, presided over by Smt. Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs. Shri Pankaj Choudhary, the Union Minister of State for Finance, the Finance Ministers of the States and UTs (with legislatures), and senior officials from the Ministry of Finance and the States and UTs also attended the meeting. The council chose to shorten its meeting after certain State ministers cited “other committed business” and asked that it be ended at around 1.30 p.m. The council had previously met six months earlier, presided over by Union Finance…